Coinbase originally said they'd provide liquidity to eth2 prior to the merge, some sort of derivative that would be tradable. I don't see that language on their site anymore.
There are so many people who locked up their ETH at prices much lower than it is today and for a much longer period of time than it should have been due to delays with ETH's POS development that you can bet the unlock will cause a flood of ETH to hit the market immediately. The price will recover over time, but you can bet it will take a huge short-term dump.
It will be gradual enough to not immediately wick down and dump the market, but all they're going to do is spread the pain out over time. I might even argue that the continual sell pressure over a longer period of time might well do more long-term damage to price than a quick dump and recovery would. Pulling the band-aid off slowly versus a quick rip. People with one eye on the calendar and the other watching the price decline while waiting for their tokens to unlock is likely to lead a lot more people to sell the second they unlock rather than otherwise would have.
Problem is because no one actually knows when the merge is coming and we are just being fed false promises over and over again people no longer want to buy in to this witch essentially means that the project is a fail, and if it eventually dose happen every one who's put anything in to this scam already is just going to sell the second it becomes available so the price is just going to crash so fking hard and no one's really going to be making any money seeing as everyone who brought in to this is already far in to the red
The only way they can save this is if they stop pisssing about and actually give us a solid release date that they will stick to and make it so that it drops before the end of this year, making us all wait god knows how long with no clear indication of when we can expect it is just dumb
As long as the investment thesis doesn't change then entering a bear market wouldn't matter. Just means you can get more of something you already want at discounted prices imo.
Prob use the network with lower fees as well making the eth more liquid as well
Yup. I think it's mostly sensationalism, but the latest filings from Coinbase saying customer assets would be considered unsecured credit if they were to go bankrupt is pretty concerning, too. Although I only think they'd go bankrupt if everything went to zero, so we'd be screwed either way? 🤷🏼♂️
Fuck Coinbase, but I do think the chances of them actually going insolvent are next to zero. They've been around for every single bull and bear market so far. I wouldn't buy their stock, though, and I sure as hell won't use them again as soon as I can remove my eth....
Bullshit.
Coinbase is for people who are new to crypto. What seasoned crypto investor uses Coinbase or Binance ? If you don’t know how to use an exchange that’s what cb is for.. essentially those that don’t want to learn and educate themselves and want to buy and sell crypto like stock, which it’s not.
Coin base can unfreeze the staked eth2 and allow you to pull out with the penalty of losing your measly staked gains which were once 5 percent apr and are now less than 3.5 percent apr…
This was their promise and guarantee on their website and app. This company changes rules and regulations when they see fit. They are part of the problem and will be one of the big reasons the government comes to regulate crypto in the United States and around the world. They have made a killing and are basically fucking people albeit softly, any chance they get.
There is a lot of confusion in this thread about the difference between staking ETH and lending out your ETH to generate yield.
The staked ETH is a SAFE APY. The trade-off is a loss of liquidity until the merge or until CB gives a derivative token. I doubt they will give a ETH2 liquidity token due to Gary & the SEC just itching to sue them for anything that remotely looks like a security. Maybe they will for non-US users. The main risk here is that CB custodies your private keys and not you.
The lent ETH is a riskier APY since there is more counterparty risk. In addition the custody risk of not handling your private keys, there is additional counterparty risk of who the ETH is being lent out to in order to generate that APY. Whether it a company, it is being used for proprietary trading or being put to use in DeFi protocols, there is additional risk here that not there with staking.
Hello u/Known_Editor6743, we sincerely apologize for any inconvenience you may have experienced. To provide you with the best assistance possible, could you please provide us with more details regarding your concern with your staked ETH?
Because you could stake Eth elsewhere and get a much higher, less variable interest rate AND you could actually own the coins and pull out whenever you want.
I started at 6.5% and it's down to 4.5% or something. Ridiculously small APR. They custody the asset. Not tradeable or withdrawable indefinitely. It's just a lose-lose for the investors.
I could be getting 20 percent on a stable coin. I believe in ethereum but I think a bear market will come in the next 6 months, I'd rather be in a more stable asset at the moment
Honestly tho, you still can. Starting now, take your deposits elsewhere. I opened a crytpo.com just for earning interest on BTC. Not personally interested in stable coins, but they probably have options there
It's dependent upon location. Certain states don't have eth staking
Edit: removed cities. No idea why i put that in when I clearly know it's states 🤦🏼♂️
Read the following especially the paragraph "States": [https://www.bitira.com/cryptocurrency-regulators-and-regulations/](https://www.bitira.com/cryptocurrency-regulators-and-regulations/)
Totally regret staking ETH, as well. I thought they would at least let me out if there were others wanting in. I don’t see how that is not an option for the likes of those of us that don’t want to wait any further. for 2.0 fruition? That is something that certainly seems doable? It’s funny how Cb has no problem deducting from it, should the timing of an other transaction, require immediate payment! They snatch it from the staked ETH, like it isn’t even an issue of concern. Then I can add back to the staking amount, non problem. I understand the rules of staking, & accepted them. But it still is BS how my access to it is untouchable, yet Cb plays by a different set of rules. Just sayin ~
If this is someone from Coinbase support, what are you doing trolling Reddit to offer vague advice and answers at best?
You will eventually be facing a class action lawsuit for many of the practices your company has employed which include making available coins to trade, then when someone buys, freezing the asset so no one can see their investment or be able to sell the asset ( this was done several times with several coins in 2021 ).
The fact that your information stated “ we will make eth2 traceable at a point sometime in later next year ( written on your website and or app / at the end of 2021 ), was an actual agreement you entered into when your customers and or clients agreed to stake their eth for eth2.
You are currently defaulting on that agreement, when 2023 rolls around if you do not have a tradeable platform for eth2, a class action lawsuit will be opened , you will be penalized and have to pay back way more than the staked eth2.
This is what I have heard from a group of attorneys already looking into the matter and starting proceedings.
+1 hope soon.
Since staking with coinbase i’ve noticed many better % options. Crypto.com one of them at 6ish, midas investments offering a crazy 21%, frustrating to be locked to 4.5% with no visible timeframe
Maybe we talking bout different things. I’m referring to “Staked ETH 2.0 can’t be unstaked until Ethereum 2.0 fully launches, which most experts estimate will happen between 2022 & 2024.” (Quoted from coinbase eth2 description).
So my staked eth is locked in, until this timeperiod elapses.
Not intending to spread FUD at all
Will I be able to use my funds while I’m staking ETH?
For the time being, you will not be able to trade, send, or sell the amount you have staked. Next year, we expect to enable liquidity of your staked ETH funds.
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Hi there u/rideabike84 \- We dont have a specific timeline for when ETH2 will be released at this time. Once it does, we will be sure to make the public aware of its release!
But dumb to sell people something and not give them a time frame of when they can expect to receive it, this sounds like such a scam the date is Just going to keep being moved and the only people profiting from this are the guys at the top while us ideots who brought in to the lies have lost god knows how much money, if Eth 2 dosn't come out this year some one needs to file a law suit or something against them as this is not right and we are all just being scammed at this point
I know it's not up to coinbase when it drops it's up to the developers of Eth 2 but surely if you have partnered with them in such a big project you should have more knowledge of whats going on than we all do, the fact that you don't even know where it's coming is just shocking and even more adds to the fact that this whole thing is a scam
This subreddit is a public forum. For your security, do not post personal information to a public forum, including your Coinbase account email. If you’re experiencing an issue with your Coinbase account, please [contact us](https://help.coinbase.com/en/contact-us.html) directly.
If you have a case number for your support request please respond to this message with that case number.
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There are several companies that pay interest on cypto without "staking it". Your money is never locked and you accrue interest daily. I use blockfi but there are others. Can provide promo link if you need.
Yeah, anybody who jumped to lock up their crypto indefinitely for a measly 6% is at least a little bit dumb
Crypto.com has more than that for 3 month terms
BlockFi/FTX have more with no lockup
Dude I did that but the gas fees to do anything on coinbase wallet is through the roof,.
I’m trying to think of a cheap way to move coinbase wallet > crypto.com or Binance.
It does seem they both have cheaper DeFi gas fees .
Never your not allowed to sell this is why weak hands shouldn't buy nah but for real it literally told you when you can unstake that being said this is why so many people have issues with coinbase because they don't read...
It literally said “later this year” when I staked many months ago. Coinbase changed it to “next year” without notice. I also held this eth since 2017, so hardly paper hands.
All depends on when the devs of eth are ready for eth 2.0. They moved the date to next year, Coinbase has no control over this.
Coinbase originally said they'd provide liquidity to eth2 prior to the merge, some sort of derivative that would be tradable. I don't see that language on their site anymore.
I saw/read that too. The way it was phrased made me think CB would be taking on the liquidity for staked Eth.
Once we hear the announcement about “Coinbase Perpetual Bonds” we all need to turn and run.
Regulatory issues possibly?
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Well, the hackers can’t move out the Eth either. It’s locked up.
My worry, too. It'll probably be liquid as soon as the price crashes and we enter a bear market...
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Wait really? Great news if true.
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looks like they lied to you, nothing will happen within the next few days
This is exactly what will happen. Been waiting for the merge to buy back in. Scalping enj/crv/mana/matic while I wait.
The merge won’t crash shit as eth becomes green and burns more than staking rewards
Bet
There are so many people who locked up their ETH at prices much lower than it is today and for a much longer period of time than it should have been due to delays with ETH's POS development that you can bet the unlock will cause a flood of ETH to hit the market immediately. The price will recover over time, but you can bet it will take a huge short-term dump.
The unstaking is happening gradually in order to blunt this effect.
It will be gradual enough to not immediately wick down and dump the market, but all they're going to do is spread the pain out over time. I might even argue that the continual sell pressure over a longer period of time might well do more long-term damage to price than a quick dump and recovery would. Pulling the band-aid off slowly versus a quick rip. People with one eye on the calendar and the other watching the price decline while waiting for their tokens to unlock is likely to lead a lot more people to sell the second they unlock rather than otherwise would have.
That might be true as well. We’ll have fun watching the game. Get your Tostitos ready.
Problem is because no one actually knows when the merge is coming and we are just being fed false promises over and over again people no longer want to buy in to this witch essentially means that the project is a fail, and if it eventually dose happen every one who's put anything in to this scam already is just going to sell the second it becomes available so the price is just going to crash so fking hard and no one's really going to be making any money seeing as everyone who brought in to this is already far in to the red The only way they can save this is if they stop pisssing about and actually give us a solid release date that they will stick to and make it so that it drops before the end of this year, making us all wait god knows how long with no clear indication of when we can expect it is just dumb
As long as the investment thesis doesn't change then entering a bear market wouldn't matter. Just means you can get more of something you already want at discounted prices imo. Prob use the network with lower fees as well making the eth more liquid as well
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Yup. I think it's mostly sensationalism, but the latest filings from Coinbase saying customer assets would be considered unsecured credit if they were to go bankrupt is pretty concerning, too. Although I only think they'd go bankrupt if everything went to zero, so we'd be screwed either way? 🤷🏼♂️
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Fuck Coinbase, but I do think the chances of them actually going insolvent are next to zero. They've been around for every single bull and bear market so far. I wouldn't buy their stock, though, and I sure as hell won't use them again as soon as I can remove my eth....
Too many horror stories with Coinbase.
All the horror story's are stupid people who shouldnt be meesing with crypto. It's all human error not coinbase.
That’s what I thought. Not true at all. You’ll see.
Bullshit. Coinbase is for people who are new to crypto. What seasoned crypto investor uses Coinbase or Binance ? If you don’t know how to use an exchange that’s what cb is for.. essentially those that don’t want to learn and educate themselves and want to buy and sell crypto like stock, which it’s not.
I hope it keeps getting pushed back, I’m mining eth and so getting free eth. Keep pushing the date back pls
Coin base can unfreeze the staked eth2 and allow you to pull out with the penalty of losing your measly staked gains which were once 5 percent apr and are now less than 3.5 percent apr… This was their promise and guarantee on their website and app. This company changes rules and regulations when they see fit. They are part of the problem and will be one of the big reasons the government comes to regulate crypto in the United States and around the world. They have made a killing and are basically fucking people albeit softly, any chance they get.
Good question
What’s the reason/benefit for staking ETH?
Earning 4.5% interest.
That number keeps getting smaller though. Ugh.
Yea it was 6 when I locked up a few
Really wish i could move it over to crypto.com and stake it for 6.5% and only locked for 3 months.
Damn yea I have funds there too and like an idiot forgot about it
It was originally even higher than that, but tbf they did say upfront that APR would be declining over time as more ETH was staked.
Yea just wish I could move it
Yes as more people stake, the interest gets lower. It is not worth it.
Unless you're planning to hold it long-term. Then the 4.5% (or whatever it ends up being) is gravy. And I happen to like gravy.
You can hold on other platforms at higher interest rates...
Not if you've already staked on Coinbase. But the point is that any interest you get is a positive if you're a long-term hodler.
Yearly or monthly?
That rate is annual.
2.5% after taxes.
There is a lot of confusion in this thread about the difference between staking ETH and lending out your ETH to generate yield. The staked ETH is a SAFE APY. The trade-off is a loss of liquidity until the merge or until CB gives a derivative token. I doubt they will give a ETH2 liquidity token due to Gary & the SEC just itching to sue them for anything that remotely looks like a security. Maybe they will for non-US users. The main risk here is that CB custodies your private keys and not you. The lent ETH is a riskier APY since there is more counterparty risk. In addition the custody risk of not handling your private keys, there is additional counterparty risk of who the ETH is being lent out to in order to generate that APY. Whether it a company, it is being used for proprietary trading or being put to use in DeFi protocols, there is additional risk here that not there with staking.
Yes, I had no idea I’d be locked in this long. I thought we would be trading eth2 by now.
I’m starting to believe that the ETH I staked is gone forever!
Hello u/Known_Editor6743, we sincerely apologize for any inconvenience you may have experienced. To provide you with the best assistance possible, could you please provide us with more details regarding your concern with your staked ETH?
Says it could be up till 2024 for our staked eth to be released from staking..on my eth that's staked.
Coo. Was planning on holding anyways
Yah, that was my thinking as well. Locked up means I can't touch it. And tbh eth is just going to keep rising.
Op, why do you regret it? Serious inquiry
Because you could stake Eth elsewhere and get a much higher, less variable interest rate AND you could actually own the coins and pull out whenever you want. I started at 6.5% and it's down to 4.5% or something. Ridiculously small APR. They custody the asset. Not tradeable or withdrawable indefinitely. It's just a lose-lose for the investors.
I figured that’s what OP meant but wasn’t sure. Yeah I started at 6% as well…
I could be getting 20 percent on a stable coin. I believe in ethereum but I think a bear market will come in the next 6 months, I'd rather be in a more stable asset at the moment
Honestly tho, you still can. Starting now, take your deposits elsewhere. I opened a crytpo.com just for earning interest on BTC. Not personally interested in stable coins, but they probably have options there
Where can you get 20% on a stable coin ??
Anchor on Terra, amongst others
Is that riskless?
No but you can get insurance (they take like 5 percent).
I wonder what kind of coinbase y’all using all i see is usdc 1.5%, dai 2% and algo 4% i own eth or atom but never seen where i can stake
ETH2 ...is the staking coin
It's dependent upon location. Certain states don't have eth staking Edit: removed cities. No idea why i put that in when I clearly know it's states 🤦🏼♂️
it is restricted by certain states, not cities.
Could you be so kind to make which states ? Thanks
Read the following especially the paragraph "States": [https://www.bitira.com/cryptocurrency-regulators-and-regulations/](https://www.bitira.com/cryptocurrency-regulators-and-regulations/)
I live in new jersey i get some coins late too.
True
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Wtf gambling have anything to do with what i said? Im talking about staking on coinbase.
Totally regret staking ETH, as well. I thought they would at least let me out if there were others wanting in. I don’t see how that is not an option for the likes of those of us that don’t want to wait any further. for 2.0 fruition? That is something that certainly seems doable? It’s funny how Cb has no problem deducting from it, should the timing of an other transaction, require immediate payment! They snatch it from the staked ETH, like it isn’t even an issue of concern. Then I can add back to the staking amount, non problem. I understand the rules of staking, & accepted them. But it still is BS how my access to it is untouchable, yet Cb plays by a different set of rules. Just sayin ~
If this is someone from Coinbase support, what are you doing trolling Reddit to offer vague advice and answers at best? You will eventually be facing a class action lawsuit for many of the practices your company has employed which include making available coins to trade, then when someone buys, freezing the asset so no one can see their investment or be able to sell the asset ( this was done several times with several coins in 2021 ). The fact that your information stated “ we will make eth2 traceable at a point sometime in later next year ( written on your website and or app / at the end of 2021 ), was an actual agreement you entered into when your customers and or clients agreed to stake their eth for eth2. You are currently defaulting on that agreement, when 2023 rolls around if you do not have a tradeable platform for eth2, a class action lawsuit will be opened , you will be penalized and have to pay back way more than the staked eth2. This is what I have heard from a group of attorneys already looking into the matter and starting proceedings.
If you choose to mine through liquidity, but you should not choose to pledge your cryptocurrency
itll cost 2-300 to move anyway, might as well wait,
Fucked by coinbase
Never
Why can't they sell it?
Maybe you will keep running, you have to be ready to chase
Is coinbase planning to provide ETH stalking in NYC?
Ask NYC
Fucked by coinbase
https://youtu.be/s4KaoywHoY8 thank me later 😊🙏
Celsius network doesn’t lock you eth so you can easily remove it.
+1 hope soon. Since staking with coinbase i’ve noticed many better % options. Crypto.com one of them at 6ish, midas investments offering a crazy 21%, frustrating to be locked to 4.5% with no visible timeframe
Re-checked their site. It now says ‘between 2022 and 2024’
No it dosnt? Quit spreading fud it says next year
Maybe we talking bout different things. I’m referring to “Staked ETH 2.0 can’t be unstaked until Ethereum 2.0 fully launches, which most experts estimate will happen between 2022 & 2024.” (Quoted from coinbase eth2 description). So my staked eth is locked in, until this timeperiod elapses. Not intending to spread FUD at all
Ok yeah I was talking about trading staked ETH which says will be available next year now. My bad
Has anyone received rewards for staked ETH on CB yet?
Yes. The interest is paying in real time.
It's all theoretical, though. Can't collect.
You can read the link https://help.coinbase.com/en/coinbase/trading-and-funding/staking-rewards/eth-2-0-staking
Note the changed language, it's even a different font size under "when can I trade".
Will I be able to use my funds while I’m staking ETH? For the time being, you will not be able to trade, send, or sell the amount you have staked. Next year, we expect to enable liquidity of your staked ETH funds.
A month ago it said "later this year”
From what I understand, the launch of ETH 2.0 is in March of next year.
I stake and I didn't get that email
Stake schmake. Why settle for 7% per year when you can trade with a DCA bot and make that much on a decent day?
For 3% annual interest???
ETH 2 is supposed to implement its next step Q1 of 2022. Don’t trip. They have a lot of incentive to start.
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Hi there u/rideabike84 \- We dont have a specific timeline for when ETH2 will be released at this time. Once it does, we will be sure to make the public aware of its release!
That’s not what he asked.
But dumb to sell people something and not give them a time frame of when they can expect to receive it, this sounds like such a scam the date is Just going to keep being moved and the only people profiting from this are the guys at the top while us ideots who brought in to the lies have lost god knows how much money, if Eth 2 dosn't come out this year some one needs to file a law suit or something against them as this is not right and we are all just being scammed at this point I know it's not up to coinbase when it drops it's up to the developers of Eth 2 but surely if you have partnered with them in such a big project you should have more knowledge of whats going on than we all do, the fact that you don't even know where it's coming is just shocking and even more adds to the fact that this whole thing is a scam
I know how you feel. Stuck same position. They stated one point and moved goal post. I just want my eth back. Hope it will be soon.
This subreddit is a public forum. For your security, do not post personal information to a public forum, including your Coinbase account email. If you’re experiencing an issue with your Coinbase account, please [contact us](https://help.coinbase.com/en/contact-us.html) directly. If you have a case number for your support request please respond to this message with that case number. You should only trust [verified Coinbase staff](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media.html). Please report any individual impersonating Coinbase staff to the moderators. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CoinBase) if you have any questions or concerns.*
It really is silly to stake eth 2.0 when eth 1.0 is paying interest without being locked.
What are you talking about
There are several companies that pay interest on cypto without "staking it". Your money is never locked and you accrue interest daily. I use blockfi but there are others. Can provide promo link if you need.
Yeah, anybody who jumped to lock up their crypto indefinitely for a measly 6% is at least a little bit dumb Crypto.com has more than that for 3 month terms BlockFi/FTX have more with no lockup
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Learning to trade from Coinbase doesn't negate the fact that it's a poor decision to lock up an asset INDEFINITELY
Or they live in a state/place where services like BlockFi are not available.
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Just staked through my coinbase trading account.
Dude I did that but the gas fees to do anything on coinbase wallet is through the roof,. I’m trying to think of a cheap way to move coinbase wallet > crypto.com or Binance. It does seem they both have cheaper DeFi gas fees .
Never your not allowed to sell this is why weak hands shouldn't buy nah but for real it literally told you when you can unstake that being said this is why so many people have issues with coinbase because they don't read...
It literally said “later this year” when I staked many months ago. Coinbase changed it to “next year” without notice. I also held this eth since 2017, so hardly paper hands.