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.

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.

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.

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.

Blockchain.com removes the complexity by allowing you to start staking with as little as $1 in ETH with no hardware investment required.

Plus, if you stake your ETH before the end of November we’ll reduce your staking fees to 2.5% through the end of 2022. That’s 10x lower than comparable offerings!

Start staking your ETH with just a few simple steps:

1. Log in to your Blockchain.com Wallet using a web browser.
2. Click Earn in the top navigation bar.
3. Find Ethereum staking in the table and click Stake.
4. Select the account or wallet you’d like to transfer from, enter the amount you’d like to transfer, agree to the terms, and click Confirm Transfer.
5. You’re now staking ETH. ✅

Note: Your ETH will be subject to a bonding period before it starts generating staking rewards. Additionally, you won’t be able to unstake or transfer your ETH for an unknown period of time. These rules are not specific to Blockchain.com. They’re features of the Ethereum network.

We’ll soon be adding staking for more PoS blockchains, including NEAR, Solana, and Cardano. We’ll also be adding the ability to manage your Staking Accounts on mobile.

In the meantime, log in to your Blockchain.com Wallet today and put your crypto to work with ETH staking.

IMPORTANT NOTE:

The purchase of crypto entails a risk. The value of crypto can fluctuate and capital involved in a crypto transaction is subject to market volatility and loss.

Digital currencies are not bank deposits, are not legal tender, and are not backed by the government. Blockchain.com’s products and services are not subject to any governmental or government-backed deposit protection schemes. Legislative and regulatory changes or actions in any jurisdiction in which Blockchain.com’s customers are located may adversely affect the use, transfer, exchange, and value of digital currencies.