MultiversX Tracker is Live!

Is staking ETH on Coinbase safe?

Etherum Reddit

More / Etherum Reddit 607 Views

I'm determining whether to stake my ETH on Coinbase but the disclaimer in Coinbase's User Agreement is concerning. It provides as follows:

"(c) No Guarantee of Success of Network Upgrade. Coinbase makes no guarantees that the upgrade to the Ethereum network will be successful, and you understand that if the network upgrade ultimately fails, you may lose all, or a portion of, your staked ETH. Coinbase will not be responsible for any ETH lost due to a network upgrade failure."

So, what's your thoughts on staking on CB? It sounds great considering I plan to hold my ETH a long time, but I'm on the fence on whether the 6% is worth it given the foregoing language. Perhaps stake some and not all to minimize risk and exposure.

Thanks and good luck!

Also note that Coinbase's Help Center explains further:

"Are there risks staking ETH?

Staking can be rewarding, but it also comes with the risk of loss of principal funds if the validator duties are not met. However, Coinbase will cover these risks (at no extra costs) so your principal is safe. Coinbase cannot guarantee that the upgrade to the Ethereum network will be successful and is not responsible for any staked ETH lost due to an unsuccessful network upgrade or other factors not within our control. For more information on risks associated with ETH staking, please read section 5.4.4 of our User Agreement."

submitted by /u/Sajin88
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments