How to bet on Ethereum? Generate passive income with your ETH

Comment faire du staking sur Ethereum ? Générez des revenus passifs avec vos ETH

Although the rollout of Ethereum 2.0 with The Merge was a success, the yardstick has become one of the best ways to put your idle ETH to work and earn passive income from it. Here’s our complete guide to making your ETH a breeze.

The best platforms to implement your ETH

You must have at least 32 ETH in addition to the so-called “single” bet significant operating costs and risks.

That is why it is interesting to go to platforms that take care of these tasks for you, allowing you to make your ETH even if you have less than 32.

👉 Here is our explanatory article to know everything about cryptocurrency betting

By delegating your ETH to a platformthese are going to be deposited into a smart contract with other users’ ETH in order to amortize the costs without reducing the reward received.

Before choosing the platform that suits you, there are still some criteria to take into account to avoid unpleasant surprises: security, interest rate offered, fees, accessibility, etc.

Depending on your profile, different options are available to you. That’s why, if you’re just starting out, we recommend putting your ETH on Binancea platform known for its ergonomics, simplicity and variety of services.

As well as that, Binance is the only centralized platform that does not charge fees for rewards which you get with ETH staking.

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You can also look at the table that contains the information necessary to guide you in choosing the platform to stake your ETH.

Putting your ETH on Binance: a complete guide

The Binance platform allows you to securely deposit your ETH and in a few what happens. In addition to being registered as a PSAN with the financier Autorité des marchés (AMF), Binance is committed to cover all running costs the collector and will bear the risk of penalty on chain.

You will receive BETH as a tokenized representation of your staked ETH at a 1:1 ratio, which will allow you to benefit from liquidity and enjoy the rewards of staking ETH.

To put your ETH on Binance, you need to log into your account or create one via the button below:

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👉 Here is a complete guide on how to register on Binance and verify your account

Once your account is created and verified, add your ETH to your Binance wallet if you haven’t already. Go to the ” Passive income » and click on « ETH 2.0 »:

Binance Staking Ethereum

Then click on ” Slot now »:

Binance Staking Ethereum

Last step, enter the amount of Ether you want to stake, check the Binance staking service agreement box and click on ” To confirm “.

As you can see, there will be a delay of 48 hours before the distribution of the first rewards:

Binance Staking Ethereum

Congratulations! Your ETH is sent to the Ethereum staking pool. All you have to do is enjoy the BETH that will be distributed in your wallet daily.

Lido, the decentralized alternative to apply your ETH

Lido is an application controlled by a decentralized autonomous organization (DAO) which manages operations, fund distributions, etc. It also has its own native token, the LDO, which gives its holders governance rights such as voting on the future direction of the platform.

The process to stake your ETH will be almost similar to the process at Binanceapart from the fact that you will connect your own wallet to the Lido application (MetaMask, XDEFI, etc).

Basically, Lido is a liquid stack protocol, that is you will receive stETH tokens in exchange for your staked ETH. Even better, the platform it does not lock up your funds.

stETH also has the advantage of being able to bid additional result a staking, as they are supported by most protocols such as Curve, Aave, etc.

Note that it is currently impossible to withdraw staked ETH. However, you can still exchange your stETH for regular ETH.

Other Decentralized Ether Staking Solutions

In addition to Lido there are other decentralized solutions like RocketPool or StakeWise, here a a comparative table of the different decentralized applications that allow you to accept ETH:

There is another solution that our Premium Group experts have found and it is currently the most profitable. This solution is available at Frax Finance is also launching into Ethereum. The principle is identical to that of Lido with sfrxETH that will offer even higher returns due to better integration in decentralized finance. The returns are expected around 10%.

You can find an overview of all our exclusive content here.

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FAQ: Common questions about betting on Ethereum

How does Ethereum staking work?

Staking comes from Proof of Stake, which is a consensus that guarantees the security of the blockchain and the creation of new blocks. Staking involves selecting the collectors to whom these responsibilities will be assigned. This is what is more commonly known as a “stake”.

On Ethereum, the stake to be a collector is 32 ETH. This sum is necessary to discourage the stakeholder from going offline or launching a deliberate attack on the network.

However, as we discussed earlier, this limit is broken by the platforms that allow their users to accept their ETH no matter how many they have.

Is it a good idea to take my ETH?

It’s a win-win process since on the one hand, it will increase the security of the Ethereum blockchain by building new blocks and on the other hand it will allow you to generate passive income with less risk.

The other advantage is that it does not require any special skills if you delegate your ETH to a third party like Binance.

How much can I earn with bets on Ethereum?

Ethereum staking offers annual returns. The returns are different from one platform to another and can reach 6% in some cases. You also need to take into account the fees that the platform takes from your rewards.

At the time of writing this article the suggested interest rate is around 5% on Binance, and is the only centralized platform that does not charge for this service.

What to do with my BETH from Binance?

There are different ways to use them. You can leave them on Binance and enjoy promised rewards. You can too use your BETH in the BNB Chain ecosystem like Binance Launchpool and Liquid Exchange.

BETH is also supported on some DeFi platforms like Venus for lending and borrowing or even Pancake Swap to provide liquidity on pairs.

👉 Get our full explanation of what decentralized finance (DeFi) is.

What are the risks of ETH stacking?

The most trivial risk is the drop in the value of the cryptocurrency ETH.

Regarding validation actions, the Ethereum consensus mechanism has several rules designed to prevent attacks on the network. Validators, depending on their activity, will be rewarded more or less in ETH.

Logically, inactive collectors will be penalized which will increase if this happens for a long period of time. So they can lose a (negligible) part of their locked ETH.

On the contrary, what is called slashing is a much more serious punishment. It is motivated by a clearly malicious act towards the network as it offers 2 different blocks for the same site. This means that a significant part of the validator’s share or even all of it will be removed in the worst case.

For ideal security it is better to choose a reliable and trustworthy platform to implement your ETH like Binance.

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Can I withdraw my ETH from betting?

Staked ETH cannot be withdrawn or transferred to the Ethereum network before the Shanghai upgrade which will usually occur during 2023.

Why does the Ethereum blockchain consume less energy with stakes?

Unlike Proof of Work (PoW), Proof of Stake (POS) does not require as much computing power as before. This new system that has been used since The Merge update no longer relies on miners but on a “bettor”.

With this change in the validation method, the energy consumption of the Ethereum network is reduced by more than 99%.

👉 What will the future of Ethereum (ETH) look like after The Merge?

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