Ethereum is one of the renowned crypto tokens and blockchain networks that was initially launched in the year 2015. And within two years of its launch, it has became the second largest cryptocurrency and blockchain network in the world of crypto. If you are also a crypto enthusiast then you definitely know about the recent upgrade of the ETH network to ETH 2.0, where the consensus mechanism of PoW (Proof of Wait) is shifted to PoS (Proof of Stake).
After this upgrade, staking eliminates the mining process and becomes an essential component to validate and secure the Ethereum network. Along with that, it also allows crypto traders and investors to earn exciting rewards by staking ETH as collateral in different ways. If you also want to participate in ETH 2.0 staking then dive with us in our further content.
In our further content, we will cover some topics such as several methods for ETH 2.0 staking and steps for staking via centralized exchange.
How to stake in ETH 2.0?
After reading through the above section, we are sure that you are now interested in ETH 2.0 staking. But before starting the further process, you must know about the methods by which you can stake in Eth 2.0. So, there are basically three methods (ranging from the easiest to the most difficult) which are mentioned as follows,
- Centralized Exchange: The process of participating in Ethereum 2.0 staking via a centralized crypto exchange is quick, simple, and straightforward that can be done in just a few clicks or taps. You can stake ETH and start earning rewards on various centralized exchange platforms such as Gemini, Coinbase, Binance, and more.
- ETH staking pool: The process of ETH 2.0 staking via an ETH staking pool requires a few more steps as compared to centralize exchange method. But the additional benefit that you will get by staking via an ETH staking pool is a liquid token that can be used in place of your staked ETH.
- Running your own network validator (Home Stake): The process of staking ETH by running your own network validator is one of the most challenging and direct methods. It requires a 32 ETH stake, hardware that can run continuously, and 24*7 internet connectivity with at least 10 Mbps of speed.
Steps for ETH 2.0 staking on Centralized Exchange:
We have mentioned below an easy step-by-step guide that will help you to take part in ETH 2.0 staking via centralized exchange within a few simple and easy steps.
Note: We are using Coinbase Exchange as an example for completing our further steps. As we all know that both ETH and ETH 2.0 have been merged after the upgrade, that’s why we have mentioned below the process of ETH staking.
- In the first step, open your preferred web browser and go ahead to the official page of Coinbase login.
- Enter your correct login credentials and log into your Coinbase account.
- Once you are logged into your account, you have to click or tap on the “My Assets” tab, which is located at the left side menu bar of the home page.
- After clicking on the “My Assets” tab, scroll down and then select “Ethereum” from the list of available crypto tokens and coins.
- Again Scroll down and then hit on the “Stake ETH” button.
- Review the details about staking ETH and then click or tap on the “Continue” button.
- Enter the amount of ETH that you would like to stake and then click on the “Preview Stake” tab.
- In the final step, review your order details, and then click on the “Stake Now” button to finish the entire process.
Once you followed all of these steps, your staking order will be successfully submitted, and then you will get an email when your order status updates.
Bottom Line:
Ethereum 2.0 staking is a significant development for the Ethereum network as it makes the blockchain network more secure and sustainable. Along with that, for the users of the Coinbase platform, the process of ETH 2.0 staking is very simple and straightforward as we have also discussed in our above content. But if you are unaware of how to do so then follow the steps mentioned by us in our above content.
