Today we’re introducing Ethereum (ETH) staking in the Blockchain.com Wallet.
You can now earn up to 5.5% annually by securing the Ethereum blockchain.
What is staking?
Staking is the process used by Proof-of-Stake (PoS) blockchains to verify transactions.
It serves a similar purpose to mining in Proof-of-Work (PoW) blockchains, like Bitcoin, but is significantly more energy efficient.
Instead of using computing power to compete for the right to add new blocks to the blockchain and earn block rewards, network participants put up, or “stake”, their crypto for a chance to validate transactions and earn staking rewards.
You can learn more about staking here.
Why stake your crypto?
Staking is a great way to put your crypto to work while contributing to projects you support and believe in.
If you’re a long-term holder of a crypto asset, staking gives you the ability to earn passive income on your holdings.
And, by staking, you’re also playing an important role in making the underlying blockchain more secure and efficient.
Why stake with Blockchain.com?
While it’s possible to stake on your own, it requires significant investment and technical know-how.
To become a “validator” on the Ethereum blockchain, you need to stake a minimum of 32 ETH (currently over $40,000 USD) and have dedicated hardware running 24 hours a day, without downtime.
