MetaMask ETH Staking
Let’s start with a definition of a staking process and its advantages. ETH staking is a way for users to earn rewards for holding and helping to secure the Ethereum network by becoming a validator.
MetaMask, a popular browser extension for interacting with the Ethereum blockchain, has recently added the ability for users to stake their ETH directly from the MetaMask wallet interface, through the portfolio section. This feature allows users to easily join staking pools and start earning rewards without the need for additional software or technical knowledge. Users can select from a list of available staking pools and stake their Ethereum directly from their MetaMask wallet. This is a convenient and user-friendly way for individuals to participate in Ethereum staking and earn rewards while helping to secure the network.
On top of that, with recent rumors of the launch of a MetaMask token and potential airdrop, additional activity in a form of staking might become a multiplication of future rewards.
So without wasting our time, let’s move to the instructions on how to stake ETH using the MetaMask wallet:
- Open the MetaMask extension on your browser and make sure you are logged into the correct wallet (if you haven’t one, here is an installation guide).
- Go to the MetaMask portfolio section.
- Look for the “Stake” button and click on it.
- Select the Ethereum staking pool you would like to join from the list of available options (let’s pick Lido Staked ETH for example).
- Enter the amount of ETH you would like to stake in the provided field (stake at least 0.1 ETH). You can get some ETH from a centralized exchange like Binance (here is simple guide)
- Review the terms and conditions of the staking pool, including the lock-up period, withdrawal conditions and the reward distribution schedule.
- Click on “Review” to confirm the transaction.
- MetaMask will prompt you to confirm the transaction, review the details and click on “Confirm” to sign the transaction and send it to the Ethereum network. (Pay attention to gas fees, current fees status can be checked here. Note that the best time for low fees is late nights of weekdays).
- Wait for the transaction to be confirmed on the Ethereum blockchain. This can take a few minutes depending on the current network congestion.
- Once the transaction is confirmed, your staked ETH will appear in “View holdings”.
- Note: Staked ETH and rewards received on Lido are not currently withdrawable. Withdrawals will only be possible after planned upgrades to Ethereum, and after Lido adjusts accordingly (planned to be done in Q1 2023).
Some pools have a minimum staking threshold, you should check if there is any before staking. Also, keep in mind that you will not be able to move your staked ETH during the lock-up period, so make sure you are comfortable with the terms before confirming the transaction.
That’s it, I hope it will help you to get your awaited MetaMask airdrop! For more exclusive reward opportunities join our Telegram.
