Kraken is excited to announce that clients can stake their Ethereum (ETH) on Kraken to receive rewards of approximately 5% to 17%. The network reward is variable and 17% is currently the highest possible yearly yield.
ETH staking launches Friday December 4 at approximately 13:30 UTC.
Staking is enabled on the Ethereum network as part of the first phase of a major upgrade called Ethereum 2.0 that is expected to greatly improve the speed, scalability, security and efficiency of the network.
Benefits of staking ETH with Kraken
- Receive variable staking rewards of approximately 5% to 17% yearly, based on the network rate
- Receive rewards every week
- Stake small or large amounts – with Kraken you can stake less than the 32 ETH minimum required on the network
- Help support the upgrade to Ethereum 2.0
- Coming soon: Trade staked ETH for unstaked ETH (market will not be available for clients in the US and Canada)
Staking is primarily for long-term ETH holders
Clients should be aware that staked ETH cannot be unstaked, and along with staking rewards, cannot be transferred for an unknown period of time. This means that clients should only stake ETH that they plan to hold long-term. This limitation is not specific to Kraken – it is a limitation on the Ethereum network itself.
Coming soon: As a courtesy to clients who may wish to exchange their staked ETH for unstaked ETH, Kraken will provide a special trading pair for this purpose until the ability to unstake ETH is available on the Ethereum network. We expect to launch this trading pair in approximately one week.
Two important caveats about the market to exchange staked ETH for unstaked ETH:
- The market will NOT be available for users located in or residents or citizens of the US and Canada (these clients can stake ETH, but not trade their staked ETH for unstaked ETH)
- We offer no guarantees of any kind about the continued availability or liquidity of this market – price slippage in market orders should be…