Staking Ethereum (ETH) is a great way to get staking rewards while securing the network. If you’re using COCA Wallet, you can easily stake and unstake your ETH with just a few simple steps.
This guide explains how to stake ETH using COCA Wallet.
What is COCA Wallet?
COCA Wallet is a secure and user-friendly cryptocurrency wallet that allows you to store, manage, and get rewards on your digital assets. COCA offers an intuitive interface, seamless staking options, and robust security features. It supports multiple cryptocurrencies and provides easy access to DeFi services, making it an all-in-one solution for managing your crypto.
Why Stake ETH?
Staking Ethereum is crucial in maintaining the network’s security and efficiency. By locking up your ETH, you contribute to transaction validation and decentralization, helping Ethereum remain a strong and secure blockchain.
Staking ETH temporarily locks it, reducing the actively tradable supply. While this can support ETH’s value under the right market conditions, other factors also play a role in its long-term price. Rather than leaving your assets idle, staking allows you to earn rewards over time.
How to Stake ETH in COCA: Step-by-Step Guide
Staking ETH in COCA is quick and easy. Follow these steps to start.
Step 1: Open COCA and Access Your Portfolio
- Launch the COCA app and locate ETH on your portfolio screen. If you have ETH, it will appear in your asset list.
- If you don’t have Ethereum, you can easily buy or swap it within COCA.
Step 2: Start staking
- On the currency overview screen, find the Earn rewards section, which displays the current APY.
- Tap the Stake button to proceed.
Step 3: Agree to the Terms
- Read through the staking terms.
- Check the box to agree, then tap Next to continue.
Step 4: Enter the Amount to Stake
- The minimum staking amount is 0.1 ETH.
- Your available balance will be displayed on the screen.
- You can manually enter the amount or tap Max to select your full available balance.
Note that a portion of your balance is reserved for the Ethereum network fee.
Step 5: Confirm the Transaction
- Tap Next to proceed with staking.
- The Ethereum network fee must be paid to complete the transaction.
Staking Successful!
Once confirmed, you can track your staked ETH from the asset management section.
How to unstake ETH?
If you need to unstake your ETH, follow these simple steps to regain your assets.
Step 1: Start Unstaking
- Tap on ETH in your portfolio or navigate to the Earn section from the menu.
- Tap Unstake.
Step 2: Choose the amount
- Enter the amount you wish to unstake.
- Tap Enter to proceed.
Step 3: Confirm the Transaction
- Tap Next and pay the Ethereum network fee.
After confirmation, the unstaking process will take some time before your ETH is available for withdrawal. You can track your status in the Currency Overview section.
Last Words
Staking ETH in COCA is a simple and effective way to get rewards while supporting the Ethereum network. With an intuitive interface and seamless staking process, COCA makes it easy for anyone to participate in staking. Whether you want to grow your crypto or contribute to blockchain security, staking ETH in COCA is a wise choice.
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Everstake is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services, or take custody of, or otherwise hold or manage, customer assets. Everstake does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency, or associated funds. Everstake’s provision of technology services allowing a user to stake digital assets is not an endorsement or a recommendation of any digital assets by it. Users are fully and solely responsible for evaluating whether to stake digital assets.
