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ETHEREUM 2.0 Staking Guide: EARN every day by staking ETH

ETH 2.0 staking service in ...

ETH 2.0 staking service in Kraken raised over 100 thousand ETH
CONTENT

  • Kraken holds 8% of all Ethereum coins locked in ETH 2.0

  • Delegated staking offered by exchanges is starting to gain popularity

  • This trend may continue in 2021

International consortium of news organizations developing transparency standards.

Kraken exchange became another centralized participant of the crypto market, which decided to connect to staking in ETH 2.0 – and it was right.

ETH 2.0 staking service in ...

After the official launch of phase zero of the updated Ethereum 2.0 protocol, it was only a matter of time before the centralized cryptocurrency exchanges joined this project. This was confirmed by the Kraken platform, which offered its services for staking coins in ETH 2.0..

The official launch of the staking service took place on December 4, and in a matter of days the exchange has already managed to cross an important mark. At the time of writing, investors have blocked over 100,000 ETH in ETH 2.0 as staking deposits. This is equivalent to approximately $ 55 million at current quotes..

Kraken holds 8% of all Ethereum blocked

Kraken currently holds about 8% of all ETH currently locked on the Ethereum 2.0 network, according to the company’s blog. This is consistent with the ETH 2.0 Launchpad data, according to which there are currently 1.27 million ETH coins in a locked state..

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Kraken executive Jeremy Welch commented that the company has long been an Ethereum enthusiast..

ETH 2.0 staking service in ...

“We were one of the first to list Ether in August 2015. We have watched the ongoing development of Ethereum. As of December 1, the usual ETH trading volume is 15-40% of the daily trading volumes of the BTC “.

Kraken’s current staking reward for ETH 2.0 is between 5% and 17%. In addition, the exchange supports staking Polkadot, Tezos, Kusama and Cosmos..

Recall that the Coinbase exchange has also announced its intention to add support for staking in Ethereum 2.0. The new functionality is expected to start working in early 2021. However, Coinbase staking services may only be available to customers using the Pro version..

The service for staking in ETH2 was also launched by the Binance exchange. It will issue staking rewards in its own BETH tokens.

Pros and cons of delegated staking

Note that not everyone is encouraged by the idea of ​​using their own hardware and software for staking as an independent validator..

This requires a lot of technical knowledge. In addition, the validator will be punished if he suddenly goes offline or violates the minimum deposit requirement (32 ETH).

Some validators, including the founder of the Synthetix protocol Kane Warwick, have already faced the fact that they were thrown from the network without the right to access their assets for at least a year..

So my toddler or my Roomba decided to push the power button and switch off my @DAppNode at some point in the last week. So I’ve actually lost ETH through continuous slashing. Also geth has decided it won’t start and it feels like one of those delete and start again moments. ama.

– kain.eth (@kaiynne) December 8, 2020

ETH 2.0 staking service in ...

Also, the entry barrier for some potential validators is the requirement to own the full amount of 32 ETH. At current prices, this equals $ 17,600, and not everyone has that kind of money, or not everyone can easily do without it for a whole year..

The staking services that Kraken and other centralized exchanges offer can help many ETH hodlers overcome these obstacles and start earning passive income. The main thing: do not forget that in this case the keys to your money are not with you, but with the exchange.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

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