how to stake ethereum on kraken

To stake Ethereum on Kraken, you must first create an account, deposit ETH, choose a staking pool, review transaction details, and monitor your staking progress.

Oct 17, 2024 at 03:59 am

How to Stake Ethereum on Kraken

Step 1: Open a Kraken Account

1. Visit the Kraken website and click "Create Account."
2. Choose a username, password, and email address.
3. Complete the 2-factor authentication process.

Step 2: Deposit Ethereum

1. Navigate to "Funding" in the menu bar.
2. Find "Deposit" and select "Cryptocurrency."
3. Choose "Ethereum" (ETH).
4. Copy the Ethereum address displayed and transfer ETH from your wallet.

Step 3: Stake Ethereum

1. Once the ETH deposit is complete, navigate to "Staking" in the menu.
2. Click "Stake Now" under "Ethereum 2.0."
3. Input the amount of ETH you wish to stake and click "Stake."

Step 4: Choose a Staking Pool

1. You will be presented with a list of staking pools.
2. Choose a pool carefully based on its size, fees, rewards, and uptime.
3. Click "Select" next to the desired pool.

Step 5: Review and Confirm Transaction

1. Review the staking details and ensure they are correct.
2. Check the estimated rewards and expected time to unstake.
3. Click "Stake ETH" to confirm the transaction.

Step 6: Monitor Your Staking

1. Once your ETH is staked, it will enter the "active" or "queued" status in the "Staking" dashboard.
2. You can monitor your rewards and the progress of unstaking in this dashboard.

Additional Notes:

• The minimum staking amount for Ethereum on Kraken is 0.0001 ETH.
• The rewards are estimated and may vary depending on the pool's performance.
• Unstaking Ethereum takes approximately 20 days.
• Staked ETH cannot be traded or sold while it is locked.
• Kraken charges a staking fee of 15%.