How to stake Ethereum?

Ethereum is migrating from mining to staking in several phases, and the first steps towards this was launched on December 1. With staking, you receive rewards in ETH by simply holding Ether. Read this article if you want to learn more about staking.

During the migration from Ethereum 1.0 to Ethereum 2.0, the entire network will switch to staking (there are of course more new features). The Ether staking update is only phase 0 and there is still a lot to do. The update ensures that users can run validation nodes on the new network and they will receive rewards for that.

To participate via the original Ethereum network, at least 32 ETH is required and this will be locked up until phase 1. But if you, just like us, don’t have 32 ETH, we have a good solution for you. Discover how you can stake Ethereum with a small amount of ETH.

Ethereum staking with Binance Staking Service

The largest exchange in the world, Binance, saw this problem and has a good solution. With their new Ethereum 2.0 staking service, almost anyone can stake Ethereum. You really participate in the original network staking pool and you actually get your rewards. The following conditions apply, please read them carefully:

• Note: your Ether cannot be withdrawn for the time being and depends on the Ethereum developments. This can take longer than 2 years.
• Minimum ETH staking: 0.0001 ETH.
• You will receive BETH (Binance ETH) with a 1: 1 ratio until phase 1 goes live. Distribution of this will be in 2021.
• Ethereum staking rewards are: 5% -20% on an annual basis (the actual rewards depend on the network).

How can you stake Ether?

I want to emphasize again that your staked Ether cannot be withdrawn after staking. It may take years before you can withdraw it, depending on the developments of the Ethereum team. Phase 0, for example, has been postponed several times. Keep this in mind.

Follow these steps if you want to join the new network and stake Ethereum:

• Make sure you have an account with Binance.
• Go to the ETH2.0 staking page.
• Click on Stake Now.
• Read the conditions carefully. Accept them by clicking Confirm.
• Then you have to click on all conditions 1 by 1 and click on Confirm again.
• You will receive confirmation of your promotion.

You have now successfully staked your Ether. The first rewards are expected in January 2020 and will be paid in BETH. After payment you can trade or withdraw your rewards.

For questions you can post them in the comment section below. We check them and good questions will be answered.