I know where the bulk of you are going to land on this question, but I thought I'd float it out here anyway. I have enough in BTC and ETH that I'd be very depressed if Coinbase got hacked. Everything is on the exchange and my ETH is 100% staked – I've made about $1500 staking, which isn't nothing. That said, I hang around these boards, and do my own research, enough to know that keeping X amount on the exchange carries risk. IDK how much, and I think the Coinbase sub is full of bots and people trying to sh*t on Coinbase for one reason or another. For those of you using a cold wallet, are you cool with just skipping the staking rewards?
It looks like the Trezor Safe 5 is pretty easy to use. I guess I'd have to unstake my ETH, wait the 21 days or whatever it is, and then make the transfer. Am I missing anything here? I'd do a small send first to make sure the address works and then transfer the rest once I know I am good. I once lost $1K moving something from one exchange to Coinbase Wallet and although I regularly move assets from CB Wallet the CB Exchange, each time I am white knuckling it until I (thankfully, very quickly) get the confirmation email and can see the funds are where I intended them to go.
Thanks for the help.
Move to Trezor now? Forego staking rewards?
byu/Icabod14 inethtrader
Posted by Icabod14
2 Comments
Question.
You could lend your eth out on aave and get nearly the same reward as staking and maybe more considering the fee coinbase has. It’s a variable rate so it won’t always be that good.
You could also buy a liquid staking token like rocketpool or lido to still get staking rewards.
These both carry some contract risk but I’d say it’s negligible at this point since both dapps are huge honeypots and haven’t been exploited.