2024-05-24 12:54:31
Авторка: Inna Svatenko 
In September 2022, there was a famous update to the Ethereum blockchain called “The Merge.” The network changed the Proof-of-Work consensus algorithm, which allowed for mining the cryptocurrency, to Proof-of-Stake, which involves validators and the staking of Ethereum. This process allows participants to keep the blockchain running and get rewarded for it.
Let’s find out what is staking, what kind of income it can bring, and whether this type of earning suits everyone.
Staking is the process of blocking a certain number of coins on the blockchain. It ensures proper execution of transactions on the network, allows new blocks to be added, and enhances security.
Users who participate in staking are called validators. They are rewarded for their work in the form of new coins. Participants who keep coins on staking for a long period have the highest chance of being selected to validate new blocks.
What are the benefits of ETH staking?
We’ve already established that an investor can get returns from staking Ethereum, but how do you start this process and what do you need to do it? To help you figure it out, we have prepared a quick guide.
You will need a computer connected to the Internet 24/7. It should also meet the technical requirements, which can be found on the official Ethereum website. To run staking, you need to set up your node (software that loads a copy of the blockchain and verifies the validity of each block). To do this, you should:
A validator is randomly selected to validate the blockchain. They verify that transactions are correct and add the new block to the blockchain. The others check the operation of this block to make sure it is correct. Validators are rewarded for their work.
If you don’t want to manage the node yourself, you can resort to the services of third-party providers who will do the job. You will only need to generate keys and deposit 32 ETH. These keys must be sent to the operator who will manage the validator on your behalf.
If you don’t have 32 ETH, you can run staking through distribution pools by investing a smaller amount. Lido and Rocket Pool platforms offer combined staking, but you can also run it through MetaMask, Trust Wallet, Atomic Wallet, Ledger, and other crypto wallets.
Some crypto exchanges allow you to deposit cryptocurrency into pools directly through their platforms. If you are interested in the yield that staking Ethereum can bring, the calculator available on most exchanges will help you determine the approximate amount.
In April 2023, a Shapella update to the Ethereum network allowed validators to withdraw the cryptocurrency from staking (previously, it could only be deposited).
If a user chooses staking as a service, combined staking, or staking through exchanges, they should follow the instructions of the service providers to withdraw their earnings.
Solo stakers must provide a wallet address for withdrawal when initially setting up the deposit. Balances over 32 ETH will be credited to the user’s account automatically every 3-7 days.
Let’s take a closer look at the disadvantages of staking:
As of May 2024, the average rate of return on staking is 2.52% per annum. This rate changes frequently and depends on many conditions.
For solo staking, you need at least 32 ETH. Combined staking allows you to contribute any number of coins to the pool.
If you are a solo staker, funds will be withdrawn automatically every 3-7 days. In other types of staking, everything depends on the terms and conditions of the service provider.
Rewards are distributed among all active validators: the more validators there are, the smaller share of the profit each will get. In combined staking, the amount of contribution is also considered.
Want to buy Ethereum online to start staking?
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