Staking is a way to earn rewards while holding onto certain cryptocurrencies (crypto). You can stake your Coinbase Wrapped Staked ETH (cbETH) and Rocket Pool Staked ETH (rETH) on Coinbase Wallet.
On Coinbase Wallet, cbETH and rETH are acquired by converting (swap) your ETH to either token.
What you need to know about staking cbETH and rETH on Wallet.
cbETH | • Coinbase Wrapped Staked ETH (cbETH) lets you sell, send, or use your staked ETH position • cbETH represents staked ETH at Coinbase • The price of the cbETH utility token reflects the price of the underlying staked ETH plus any accrued rewards • You will still earn rewards, but not directly through Coinbase • There are no fees to wrap your initial staked ETH or rewards into cbETH • cbETH is available in select regions • cbETH balance is reflected on your Coinbase Wrapped Staked ETH asset page |
rETH | • The rETH token represents ETH staked through Rocket Pool, a decentralized staking service. • rETH automatically accrues staking rewards with no lock up • rETH is a standard ERC20 token, you can use it in any way you could use any other token |
Fees | • Coinbase Wallet does not charge a fee on staking transactions • You’ll have to pay a gas fee |
Rewards estimation | • Projected earnings are an estimate for how much you’ll earn over the next year • The value is calculated by multiplying the amount of cbETH or rETH by the current APY or APR respectively • The estimate does not account for fluctuations in the price of ETH or cbETH • APYs are determined by the network and can change over time |
Rewards payout | • You won’t receive ETH reward payouts • Your rewards accrue in the value of the cbETH or rETH tokens • Unstake back to ETH to claim your rewards |
Taxes | • Consulting a tax advisor as tax implications vary by jurisdiction |
Rocket Pool is a decentralized and trustless Ethereum liquid staking provider. Rocket Pool ETH (rETH) is the Rocket Pool protocol's liquid staking token. The rETH token represents ETH that is being staked and earning rewards within Ethereum Proof-of-Stake. You can swap the token or use it in DeFi at any time.
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