How do I stake ETH?
Stake your ETH using the new Lido staking protocols with Atomic Wallet to receive rewards! In this article, we'll guide you through everything you need to know to stake your ETH and earn rewards.
- ETH 101: the things you need to know
- How to stake your ETH in your Atomic Wallet app
- ETH staking rewards
- How to unstake your ETH
Getting started with staking
Staking is a pretty simple process instead of just holding your ETH, you're putting it to work and earning interest. Where does the interest come from, though?
ETH 101: the things you need to know
- You’ll have to pay a network fee for every staking-related transaction. The fees are charged by the Ethereum blockchain directly, and we don't have any additional ones. If you're interested in learning more about how network fees work, see Does Atomic Wallet charge any additional transaction fees?
- A small amount of ETH will be reserved on your address for future fees for claiming/unstaking transactions when you stake. That means that these funds are still on your address and are available to send away or swap, but are not available for staking. It is done in order to avoid a situation in which you accidentally stake all of your funds and are unable to unstake your coins or claim your rewards. The precise amount of ETH that is reserved is constantly changing, depending on the state of the blockchain. The amount is equal to 2 network fees. For example, at the time you've staked your ETH, the network fee was 0.000651 ETH. In this case, the reserved amount will be 0.001302 ETH.
- When staking ETH, you get the equivalent amount of stETH. Staking ETH works slightly differently from most other assets. Instead of locking your deposit and getting rewards for it, your stake in ETH turns into stETH.
- Your funds are not locked during staking. When you get your stETH you can send it away or swap it any time you want.
- The rewards are automatically added to your stake. There is no need to manually claim your rewards, it is done automatically for you. Your amount of stETH will increase over time, with new rewards added to your stake every 24 hours (at 00:00 UTC).
- Lido collects a small percentage of staking rewards as a network fee. At the moment, the fee collected by the Lido protocol is 10%, i.e. out of every reward that you get, 10% is automatically withheld by the Lido protocol. You don't need to cover the fee manually.
How to stake ETH in your Atomic Wallet app
- Click Staking on the left sidebar and select ETH;
- Click Stake ETH;
- Decide on the amount to stake. You'll be charged a network fee by the Ethereum blockchain for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking. We'd suggest you leave the same amount on your balance so that you can pay the fee once you decide to unstake your ETH.
Enter your password and click Confirm;
- Voilà, your ETH deposit is now staked! Relax and wait for your first rewards to arrive. See the Rewards section down below for more details.
- Select the Staking tab in the bottom panel and tap ETH;
Decide on the amount to stake. You'll be charged a network fee by the Ethereum blockchain for both staking and unstaking your deposit. The staking fee will automatically be deducted from the amount you're staking. We recommend you leave the same amount on your balance so that you can pay the fee once you decide to unstake your ETH;
Enter your password and tap Confirm;
Voilà, your ETH deposit is now staked! Relax and wait for your first rewards to arrive. See the Rewards section down below for more details.
Ethereum staking rewards
You'll receive your first staking rewards in 24 hours after staking your deposit.
After that, your rewards will arrive once every 24 hours as well. There's no need to claim them, as they'll automatically be added to your staking deposit. Your stETH balance will automatically refresh once the rewards have been paid out.
How to unstake your ETH
There is currently no way of unstaking your ETH in a traditional sense. What you need to do instead is to swap your stETH for ETH if you wish to stop staking. Fortunately, you can do it directly in our wallet. Here's our guide on how to make a swap in Atomic Wallet.