ETH merge - anyone started with pool mining yet?

GreatArkansas

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I don't bet ETH but I hear people betting on Lido platform and Lido is now a platform along with coinbase that holds the majority of ETH. More than 40% of ETH is being held on 2 platforms by Lido and coinbase. If you are not sure, you can wait a little longer, I believe that leading exchanges like binance will soon offer staking for this ETH POS, they also recently announced to open Pool for ETHW.

Yeah, if you want your funds to be taken care of by these huge companies or centralized entities, then you can use them, especially Lido. Or on some exchanges, staking became famous with APY.
But for me, the APY to these exchanges seems very small and not worth it, especially what will happen to your funds just incase there will be incidents or hacks on their exchange. Even though they are popular or reputable, there are still could possible because they are centralized exchanges, they control.

so98nn

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I am pretty sure you will coinbase for this purpose. They have pretty much good experience with staking and when ETH turned into PoS based tech, coinbase has release “ETH2 Staking”. It is far easy process however unlike other platforms out there coinbase will ask you for the strict process of ID verification. That’s the only mandatory process to work with staking. There is no minimum and maximum amount of ETH that you can stake. So just go ahead and search for ETH coinbase staking.

Quote

What’s the difference between Ethereum (ETH) and Ethereum 2 (ETH2) on Coinbase?
ETH2 = staked ETH. Coinbase offers our customers the ability to stake their ETH to earn rewards. When you stake your ETH, it converts to ETH2 on Coinbase. The price of ETH2 is identical to ETH. Once the upgrade to the Ethereum network is complete, both ETH and ETH2 will merge into one token.

jossiel

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I saw on binance that they have it and some other platforms like Abra that are being said as "earn interest" feature and not staking.

The bad thing about in exchanges if they have the same feature of staking, you don't have the key and that's what we don't like. I'll also wait for further notices and updates about it.

Before it's like 32 ETH that will be allowed but thanks to those pools that would allow to share even if the staker will only have a few amount and less than that 32 eth minimum. As for checking, rocketpool is likely the best atm.

eaLiTy

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Quote from: avikz on September 29, 2022, 11:02:27 PM

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To be honest, rocketpool looks great! I will do some more research on them before staking my coins. Also it seems that withdrawal of staking coins is not possible at this moment.

It clearly states that you are not able to withdraw funds from Ethereum validator, there is no clarity regarding whether you will be able to withdraw them at a later stage but it says that you will be able to sell your staking position which is not a great option. It would be great if you have control over your coins and could withdraw them whenever you want.

I would rather wait for the developers to implement withdrawal from the Beacon Chain Wink

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theskillzdatklls

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Quote from: avikz on September 29, 2022, 11:02:27 PM

Thank you very much @ryzaadit. This is what I was looking for! But I am also looking for the experience of fellow forum members if they are using any of these staking pools. Experience matters!

To be honest, rocketpool looks great! I will do some more research on them before staking my coins. Also it seems that withdrawal of staking coins is not possible at this moment.

Staking not possible until the Shanghai upgrade, probably about 12mo-ish from now. And even when that releases, withdrawals will be rate limited, could be another 1-6mo to be able to withdraw post upgrade before things normalize.

zasad@

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I like this statistic better
https://pro.nansen.ai/eth2-deposit-contract
A large market share is occupied by centralized crypto exchanges, which adds additional risks to staking in case of problems with the exchange with regulators. The reward is very small and there is still a risk of the Ethereum price drop, so I am not staking yet.

Jackl87

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Quote from: avikz on September 29, 2022, 12:12:12 PM

Hi all, as the ETH has now moved to POS mining, I am willing to stake and earn some returns on my long idle ETH coins.
Do you know about any pool staking platforms open yet? If yes, please share the details and also share your experiences with them.

I don't have any significant amount of ETH myself sadly, only few scraps to pay gas fees if i need to, so i don't really have looked up to much about ETH staking possibilities as of now, but even i know that basically every "good" exchange like Binance, Kucoin, Kraken etc. is offering an APY if you stake your ETH at their pools. Of course if you send it to an exchange you always have the risk that your coins could be lost and gone forever if the exchange gets hacked and the funds are withdrawn from some criminals.
I don't know if it is possible to only "delegate" your ETH to a pool for staking purposes without the ETH leaving your own wallet though. I know this works with other projects.

avikz

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Thank you very much @ryzaadit. This is what I was looking for! But I am also looking for the experience of fellow forum members if they are using any of these staking pools. Experience matters!

To be honest, rocketpool looks great! I will do some more research on them before staking my coins. Also it seems that withdrawal of staking coins is not possible at this moment.

ryzaadit

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Hey @avikz

I'm not aware yet about your question, however while searching your question in the "Ethereum Foundation" website they provided a several pool staking website for "ETH": https://ethereum.org/en/staking/pools/

In there you can also get an overview pros & cons of each site staking pool. Feel free to visit first. IMO, Rocket Pool look solid (DYOR).

avikz

legendary

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Merit: 1500

Hi all, as the ETH has now moved to POS mining, I am willing to stake and earn some returns on my long idle ETH coins.

Do you know about any pool staking platforms open yet? If yes, please share the details and also share your experiences with them.

Topic: ETH merge - anyone started with pool mining yet? (Read 127 times)