Staking Ethereum

  • Updated

You can buy and Stake ETH with Bitbuy.

To get started, simply visit the “Staking” page once you are logged in, and click Stake beside Ethereum.

ETH is the native digital currency of a decentralized, open-source computer network known as the Ethereum Network. The Ethereum Network, like the Bitcoin network, records all transactions on a decentralized, transparent and immutable public ledger, known as a “blockchain”.

Ethereum Started out as a “proof-of-work” (“PoW”) protocol, but completed a transition to a “proof-of-stake” (“PoS”) protocol on September 15, 2022 in an upgrade known as “the Merge”.

 

Why users can’t unstake ETH:

The Ethereum foundation made a decision to simplify and maximize focus on a successful transition for the network to Proof-of-Stake, and therefore "The Merge" upgrade did not include certain anticipated features, such as the ability to withdraw staked ETH. The planned “Shanghai network upgrade" is anticipated to roll-out in 2023, which will introduce the ability to unstake and withdraw any staked ETH.

Bitbuy staking users are able to see their accrued ETH staking rewards in their account, and these funds will unlocked after the completion of the Shanghai upgrade. Learn more here.

To learn more about Ethereum, view our Crypto Asset Statement.

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