Staking ETH on Coinbase?
What are your thoughts on staking ether on Coinbase? Currently they’ll let you earn 6% if you stake your ETH for getting ETH2. Although they’ll lock the withdrawals at least until Ethereum 2.0 launch.
What’s 6% APY if crypto is down 50% and crypto winter has started?
If you’re holding anyways, why not?
Has it started?
Even if they don’t give 6% APR it is still good to stake because then it will force you to HODL.
I'd avoid staking or lending until crypto industry matures. Have you heard BlockFi incident? That's why.
Coinbase is insured and has a guarantee wrt staking.
Yeah. That was bizarre.
I was considering blockfi earlier but after this happened I’ve lost faith in them. Especially when their team justifies it by saying accidents happen, we’ve enough VC money for situations like this. https://www.forbes.com/sites/nicholasgans/2021/05/19/blockfi-mistakenly-deposits-outsized-bitcoin-payments/
Just be clear what exactly is insured ( cash, crypto, rewards) and what conditions apply. Citi bank mistakenly deposited $900 million to hedge fund firms they lost the legal battle..
Come for the finance, wait for the magic 🪄
Remember you took the first step to risk of investing in cryptos so you might as well increase the risk by staking it's your choice. But eack ppl risk tolerance is going to be different and certainly based upon the amount of money you are going to stake will be different
I don’t understand the space enough to predict likelihood network upgrade failure.
The Q is would you stake $25,000 of cryptos vs just $2500
That depends upon how much each ppl willing to lose? Varies from ppl to ppl
Binance offers much better rewards s d it compounds as well . BETH
I want to but for whatever reasons I don't seem to be able to enable it. I should meet the criteria.
I tried staking $200 worth ETH which was bought on Coinbase, it worked.
I think there was a waitlist too, did you join the waitlist.