Source
r/ethereum•
HotStool

Best place to stake etherium.

Currently “have” my crypto in a Robinhood account....obviously this isn’t wise but I just recently got into crypto so I didn’t know better and since I use my RH account for fun/gambling/high risk stuff I didn’t really care.

I would like to start off buying around 200k worth of crypto between Bitcoin, ETH, Litecoin, doggycoin, and probably a slew of others and I would like to stake the ones that I can for what I assume to you all is obvious reasons. I made a Coinbase account but when I went to buy crypto they wanted to shove their fist deeply in me where I don’t think fists are supposed to go and I don’t really want to get screwed with massive fees like that so I figured I’d ask you guys since you all probably know 10x more than me lol.

Posted Apr 30, 2021, 8:05 PM UTC

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Fallvibez•

Also a 32 year old car salesman (including $20k cars) specifically stating to have $200k to spend on cryptos is a very odd flex attempt

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HotStoolOP•

That’s not a flex - look at my post history...I made over $10,000,000 with my 1000 GME calls I bought last year....if I wanted to flex I would be talking about my big boy money, $200k no longer means jack shit to me which is why I’m willing to blindly throw it at some crypto shit that I don’t know anything about.

I mentioned how much I had because I know there’s a certain amount of crypto you need to hold in order to stake it certain ways (for ETH it’s currently around $95,000 or so, not sure what the other ones are)

You just think it’s a flex because you’re either insecure about your own financial situation...or you’re just one of those trolls who, rather than being helpful in peoples posts...choose to be a colossal douche bag that offers absolutely nothing of merit to the topic at hand, but rather detracts from it.

Didn’t mommy teach you that if you don’t have anything nice to say that you shouldn’t say anything at all?

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Fallvibez•

Also makes sense why you're 32 and single

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HotStoolOP•

I love how you act as if being single is a bad thing...kinda shows how weak of a person you are. Pathetic really.

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Fallvibez•

Lmao it just is what it is... noone would willingly spend time with you without pay. Sad really

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johnny_noshow•

This could become a new copy pasta meme.

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Fallvibez•

LMAO

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HotStoolOP•

Excellent comeback - I guess that’s all you can really say since you’ve got your foot in your mouth here.

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BiriusSlack_•

Jesus why was that guy so mad lol

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whatup1111•

https://launchpad.ethereum.org/en/ If you want to run your own node you need 32 ETH. Crypto on robinhood isnt real afaik.

If you dont want to run your own node your can use exchanges such as binance/kraken/gemini/soon coinbase and others.

I would suggest you to DCA instead of buying just a lumpsum, and really think if you want to buy for that amount as you mention doge"doggy"coin and others you need to do a lot of research.

My tip is to not trade, dont buy shitcoins and hold long term. I'd honestly just buy BTC/ETH.

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HotStoolOP•

I’m going to mainly be buying the legit stuff + my Coveted doggy coin....everything else will be small time rolling the dice/gambling.

I won’t trade - just gonna have some discipline and hold for 5-10 years unless I can realize a 1000% ROI sooner - then I may consider selling a portion.

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ElPistolero900•

Doge is high risk imo. If I were you I’d invest in a currency with actual use cases. Something like ADA or VET are good calls imo.

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MugShadow•

I'm literally in the same boat as you so I would love to see your question answered.

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Dryxdel•

Create an account in Kraken. Buy 32 Ethereum, run your own node and get interest through time.

Then, buy everything you want with the rest of your money. Use it as gambling if you want, but take Ethereum as serious investment.

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HotStoolOP•

Is there somewhere I can see what the returns on staking is?

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Dryxdel•

Yes. Just google it : staking kraken ethereum.

It says that your interest goes from 5% to 17% per year. It depends on the transactions.

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coolfarmer•

Ethereum my man, Ethereum.

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jshear-crypto•

Most major exchanges have a free "opt-in" mode that will give you a slightly more advanced interface and reduce fees by a looooooot. For Coinbase, it's Coinbase Pro. For Gemini, it's Gemini ActiveTrader. Again, it's free. Do it.

Once you've got the crypto, you have a few options. You can stake it on the exchange. This will give you a pretty good rate, but they obviously take a good cut of the profits as well. You can use a decentralized protocol like Compound or AAVE. There are no regulations around this, but there haven't been any notable issues that have caused concern yet. For ETH, you could also actually start a staking node for ETH2. This will require at least 32ETH (or 16ETH if you are willing to wait for RocketPool), and will require setting up hardware (not expensive, but tech-savviness helps). This will get you the best staking rate for ETH hands down, but is also the most involved.

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HotStoolOP•

What kind of hardware and where would I find a resource that walks me through how all of this works?

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jshear-crypto•

You would need some dedicated machine that’s running 24/7 as a node in the network. A NUC is a good example. Only a couple hundred bucks for the full setup and low electricity usage (like $2 a month maybe?). You can find a lot more information on r/ethstaker. You can also go to the ethstaker discord and/or rocketpool discord to ask any questions

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sneakpeekbot•

Here's a sneak peek of r/ethstaker using the top posts of the year!

#1: Ethereum 2.0 is LIVE | 49 comments
#2: Let's be clear: EthStaker welcomes anyone with any interest in staking on Ethereum in any way they choose.
#3: Thanks to everyone. We're going to make minimum genesis. EthStakers led the way.

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GooeyGlob•

Stop using RH, absolutely. Since it sounds like you're in the US use Kraken to stake, you can buy either using Coinbase or Kraken. I found CB recently refused a fairly small ($1000) buy it sounds like that may also affect you.

But really I hope you're plan ing to diversify. ETH has a ton of upside but so do many much lesser (and better ;-)) known coins.

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MONGSTRADAMUS•

I think best option if you want to stake at kraken and live in us is buy eth at Gemini you get free withdrawal to kraken and stake there.

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HotStoolOP•

So buy on Gemini and then transfer it to kraken to stake? What’s better about buying on Gemini versus buying on kraken?

Thanks for the help by the way :)

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MONGSTRADAMUS•

Getting fiat on kraken can be annoying. They require wire transfer that cost 30 usd for me so even transferring a thousand usd you still pay 3 percent. If you don’t have that problem of getting fiat jn to kraken then buy at kraken slightly cheaper.

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HotStoolOP•

Yeah I was planning on throwing like $1,000 at 20-30 diff low market cap cryptos in the hopes that some of them explode over the next 5 years.

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coolfarmer•

This is the worst place to stake ETH, their CEO hate ETH, just look at his twitter.

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