Account details

How will the hard fork impact my ETH balance?Will I be able to hold both ETH and ETHPoW tokens in my Coinbase accounts?

At this time, you will not be able to hold both ETH and ETHPoWtokens in your Coinbase account. Please do not send assets from the ETHPoW chain or they will be lost. Coinbase will also not support any USDC or cbETH tokens hosted on the ETHPoW forked chain, which means that these tokens will not be redeemable for ETH or any other token. 

If I stake ETH post Merge, will I be able to opt out at any time? 

No, you will not be able to opt out of staking your ETH until the Shanghai hard fork, which is expected 6-12 months after the Merge. At that time, staked ETH and any earned inflationary rewards can be withdrawn.

How does the Merge impact my cbETH holdings?

The Merge should have no direct impact on cbETH holdings. All staked ETH is locked until a post-Merge Ethereum protocol upgrade called Shanghai is complete.

In the meantime, Coinbase has created cbETH to give customers the option to sell, transfer, spend, or otherwise use their staked-ETH while it remains locked. cbETH will exist going forward and will continue to be useful after the Shanghai upgrade.

Will the merge impact my taxes? 

At this time there is no official guidance from tax authorities available with respect to the Merge.  In the reports we prepare for customers, we intend to carry the cost basis of your ETH forward after the Merge. 

Can't find what you're looking for?