jeremy_fritzen

The way you describe it, it seems that you're trying to send your crypto from a Centralized Exchange (CEX). Am I right? If so, please tell us which CEX you're using.

Before making any transaction, you need to understand some basics about Ethereum:

• Ethereum is the name of the Blockchain, the protocol.
• ETH is the native currency of this Blockchain. It is used to pay for sending transactions on it (ex : sending some ETH to another Ethereum user or executing a specific function of a "Blockchain-based app", also called dApp for Decentralized Application).
• The term "wallet" can be confusing for beginners:
  • It may refer to the software you use to interact with the Blockchain (I mean: sending transactions on the Blockchain, without a CEX). Think of it more like of a "key" to a safe containing your funds, not your actual funds. Your funds are on the Blockchain and you access them with your wallet.
  • It may also refer to an Ethereum adress itself, i.e. the "safe" in my previous analogy. With your wallet software, you are (should) be the only one to control that safe.

So I suppose you're trying to exit your ETH from a CEX. If you want to send it onchain directly (on the Ethereum blockchain), send it to whatever they call "Ethereum / ETH / ERC-20" address. All these terms are synonyms but some platforms tend to mix them. You can create a such Ethereum adress by installing metamask extension on your Browser. If you want to send it to another CEX, you should check their own documentation on how to transfer cryptos to. But I suppose that they proposer a simple Ethereum adress where you can send your funds to.

I don't know how comfortable you are with all of this. Feel free to ask any further question.

If you have ETH, the easiest way to stake it is onchain directly.

It may seem counter-intuitive but I think it's actually easier to do it than in a Centralized Exchange.

Just buy rETH on any DEX on you're good. If you don't know what I'm talking about, check RocketPool.

In a nutshell, RocketPool is like staking. Your ETH are locked in a Pool (a smart contract) that is used by Ethereum Validators who receive an extra fee for doing that. On your side:

• You have better guarantees over your funds (we can debate this point but I prefer to trust an audited and well-known smart contract protocol than a Centralized Exchange, no matter how good and well-established is its reputation)
• You don't have to stake yourself: being a Validator is risky and requires some good technical skills to maintain it in the long run. In RocketPool, the Ethereum Validators that participate in it are doing this job for you: they stake your ETH.
• It's flexible: I don't know about Coinbase but with RocketPool, since you just swap your ETH for rETH (just keep in mind to keep some ETH on your wallet), you can exit whenever you want, with no delay. Just swap your rETH for any other token or ETH.

Ethereum is a blockchain. A blockchain is a public database that is updated and shared across many computers in a decentralized network (source: ethereum.org). In a such blockchain, writing some records on it requires users to pay in a native currency : ETH for the Ethereum blockchain.

ETH is the second largest blockchain, after Bitcoin. This database has never been hacked, as Bitcoin.

Ask to be paid in ETH. If you prefer, you can convert it in USDC (token that is pegged 1:1 with US Dollar) without any approval or bank, just using your Internet connection.

Some homework for you:

1. Read Ethereum.org
2. Create your wallet: download metamask extension for your browser and then follow the steps.
3. Copy your public address and give it to your client.
4. Enjoy

I like it.
As you say, it is not the use case that brings the next million users, but it shows how this technology can be used in real processes in real world, with real needs.
IMO, the idea is simple but brilliant.

Thanks. That's not my first choice but it would help. Thanks.

I guess it could do it! Thanks.