What is Ethereum 2?
Ethereum 2.0 (ETH2) is an upgrade to the Ethereum network that aims to improve the network’s security and scalability. This upgrade involves Ethereum shifting their current mining model to a staking model.
What is staking?
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. For more information on how staking works on Coinbase, please see this help page.
Are there risks staking ETH?
Staking can be rewarding, but it also comes with the risk of loss of funds if the validator duties are not met. However, Coinbase will cover these risks (at no extra costs) so more customers have access to staking and the opportunity to earn rewards.
What are the rewards of staking ETH?
You may earn between 3-7.5% reward on any ETH that you stake to help secure the network. ETH2 staking rewards are given in accordance to how much ETH is currently validating. When there is very little ETH staked, the protocol rewards well as an incentive for more ETH to come online. On the other hand, when there’s already a lot of ETH staked, the reward is reduced. To view the current amount of ETH staked, click here.
Is there a staking minimum?
While staking on your own requires 32 ETH, there are no minimums to stake on Coinbase. When this feature is available, you can start staking any amount of ETH.
Will I be able to use my funds while I’m staking ETH?
During the initial launch, you will temporarily be unable to trade, send, or sell the amount you have staked. Later this year, we anticipate releasing an update which will allow you to sell, trade, and send your funds while they are staked.
How do I start staking ETH on Coinbase?
Join the waitlist now by going to the Ethereum asset page under your Portfolio on web or mobile, and follow the respective prompts.
How long will I be on the waitlist?
We’ll notify you on your Coinbase account when this feature is available. We’re currently working to provide support for Ethereum staking—see this blog post for more information.
Note: Coinbase Support cannot verify if you’re on the waitlist, your place in line, or when you will be given access to the feature.
What regions are eligible for ETH staking?
Currently the US (excluding New York and Hawaii residents) is eligible to join the ETH staking waitlist. We'll send a notification when the feature becomes available in more regions.
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