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Just realized Coinbase has a 40 ETH stake limit per customer…whats the next best alternative?

I just moved my ETH stash to CB in hopes to start staking (after having FINALLY been allowed off the waitlist), but when I tried to stake my entire balance, was greeted with the 40 ETH limit.

This is very disappointing to say the least.

I am aware of RocketPool, and I might get some heat from this, but Im not very fond of their tokenomics and while their reward yields are slightly higher, Coinbase truly makes it more convenient. They even provide the tax documentation for you…and as far as Im aware, ETH to rETH triggers a taxable event, which is a big no-no for me at this time.

I don’t know of any alternatives at this time. Can you guys point me to the right direction?

Setting up my own node is a no-go unfortunately. I just want pure convenience at this point.

Thank you!

What do you think?

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19 Comments

  1. AFAIK Kraken doesn’t have a staking limit and it’s just as easy and convenient. No waiting list either from what I know, but you do have to wait 1-3 weeks~ for it to start getting rewards since there’s a daily limit to how much they can stake or something, might be the same concept as the waiting list from coinbase.

  2. I’d suggest Kraken. I was a coinbase user and built my original crypto trust with them but when it came to staking and knowing that I was in for the long haul and was looking at income every month I wanted lower fees. Kraken is lower, gained my trust almost instantly and they continue to build conveniences that you talk about with coinbase…also the CEO said they’re likely going public next year. No limit for staking that I’m aware of either. I totally get the hesitance of switching over, especially being another CEX, but it’s worth it. Pure convince with a 15% fee as opposed to 25%. I totally get the struggle, but as someone who did exactly the same thing, I’ve been extremely happy with them.

  3. Options I looked at

    Lido
    Liquidstake
    Blox
    Kraken
    Staked.us

    Ended up putting some in lido, and some in blox.

    Long term will probably at more eth to both, as well as Kraken.

    Staked.us had much higher fees (especially through MEW)

  4. As I understand it, if you’re running a node with Rocketpool, there is no need to convert your ETH to rETH, so no taxable event. Only those contributing less than 16 ETH are required to convert to rETH.

  5. MEW mobile wallet and non-custodial staking through staked.us (through MEW). Super-easy and payment is a one-time thing, and no hardware to maintain yourself.

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