Do you have to send your coins there?
You send ETH and get rETH in return. rETH is a share of the pool of all Beacon Chain ETH (both deposits and earned staking rewards) owned by the Rocket Pool system. So as Rocket Pool validators earn ETH on the Beacon Chain, the value of each rETH will increase.
To exchange your rETH for ETH, you can either use an ETH1 exchange and pay a slight premium, or you can wait until Phase 2 when Rocket Pool will launch the exchange contract on Ethereum 2.0, which will give you a perfect exchange rate.
Alright but I have to send the ETH there, so it's about trust. I thought a pool could be like you bind your Ether with a smart contract and don't have to send it there. What happens if the pool decides to disappear?
Please go search for Rocketpool and read what it does.
You do send it to a smart contract
Probably coinbase and binance will have staking services, and more decentralized options like rocketpool might be ready for November.
it's still a little too early for that. we're getting close though. in the next month or two it will be time to get serious about it.
i'm sure that I will write a post detailing my recommendations.
Awesome, thank you Evan.
Rocketpool is well positioned to achieve this as a first mover advantage. The one benefit is you don’t need to lock up your ETH to stake. Just one benefit by staking through Rocketpool.
I think StakeWise will also offer staking for less than 32
Can we stake direct from ledger s?
Rocketpool is what I'm hearing everywhere. Popular exchanges like Binance and Coinbase could also be an option.
So many bots
The most are rocketpool fan. It's pretty smart for many reasons, you should read the paper and tend to use such kind of solution (or similar but I don't know of any) rather than binance or coinbase or any other big name. The less Ethereum depends on central companies the better
I'd say give stakewise a go, u can test it out now.
I wonder how staking will affect nexo. Nexo is doing 5p compounding daily with no lock up.