this post was submitted on 15 Nov 2023
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Staking options for a non tech savvy person, asking for a friend. (alien.top)
submitted 11 months ago by KingofFractions@alien.top to c/ethereum@blockchained.world
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I currently have a couple ETH on Coinbase. Would like to move them off and enter the world of staking as I have no desire to ever sell them. Any suggestions for my non tech savvy “ friend” ? I have read many posts here and haven’t had any luck finding a place where I meet the minimum ETH needed to stake there. Thanks for insights. I maybe better off just keeping it at CB and getting 3.26% APY but I feel like I’m getting taken advantage of AND possibly at risk since the coins reside there and not w me.

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[–] ApoloCSS@alien.top 1 points 11 months ago (1 children)

It will depend on how much Ether you own.

32 = go to Allnodes. Less than that = consider Rocketpool.

In any case you'll need a minimum of knowledge of what your doing to avoid making mistakes.

[–] Ch40440@alien.top 1 points 11 months ago (1 children)

How does a pull run work with staking companies? Just basically a rug pull or is it all of the stakers moving to a different pool

[–] ApoloCSS@alien.top 1 points 11 months ago

When you stake on pools like Rocketpool your ETHs are swapped for rETH. In the case the pool has a problem and people need to swap their ETH back, it will depend on the pool's liquidity to fulfill all the orders. If there are not enough ETH (and there won't be enough for that specific moment) to satisfy the demand, the rETH will be worth less than a used pamper.