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My regular way of staking Ether has become more unfeasible over the last few months due to high gas fees, so I decided it was time to test out Coinbase's Ethereum Staking feature I found some interesting things to consider if you plan on using Coinbase Staking yourself 👇On twitter.com
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First up, you need to navigate to the Ethereuem overview page and scroll down until you see the 'Stake to earn up' box to get startedPermalink On twitter.com
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This then pops up explaining how much you can earn (currently 4.50%), restrictions on trading and transferring staked Ether (hint - you can't), and the risks that come with staking (it's roughly the same with any third party staking provider)Permalink On twitter.com
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Clicking 'I understand' brings you to the page to select how much you want to stake I already bought £50 worth of ETH a while ago to test this feature with so I clicked 'Stake all' herePermalink On twitter.com
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You're then shown a preview of your stake with a little bit more information about staking Note so far we haven't been shown any fees but there is a small 'terms' and 'learn more' link just above the Stake Now button Let's click those and see what it says...Permalink On twitter.com
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Clicking 'terms' brings us to a subsection within Coinbase's user agreement page and I found this buried away: "Coinbase Europe will distribute this reward to you after receipt by Coinbase Europe, minus a 25% commission" That's more than double the fee charged by @LidoFinance!Permalink On twitter.com
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The trade-off with the higher fee is that there are no gas fees to stake your ETH with Coinbase (It's not smart contract-based like Lido) Staking small amounts with Coinbase would be fine, but I'd likely use another service with a lower fee for larger amounts of ETHPermalink On twitter.com
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