One year ago I staked my Ethereum as ETH2 on Coinbase. Since then I’ve made 5%. Not bad I suppose. However, with everything going on I want to put it on my ledger for safe keeping. After looking into it though I don’t know what to do…
For simplicity sake let’s say I staked exactly 1 ETH2 on Coinbase. I’ve made 0.05 ETH2 staking it for one year.
With ETH currently worth $1,200 USD plus my earned 5% I now have $1,260.
In order to get it off Coinbase and into my ledger I need to first convert it to Coinbase’s wrapped Ethereum…
1 ETH2 = 0.9846 cbETH (wrapped ETH)
So now I’m down to $1,240.59.
Now I pay the 1% to convert to regular ETH.
Now down to $1,228.18.
Finally 1% to withdraw it to my ledger.
After everything I end up with $1,215.89.
$44 to withdraw one Ethereum!? That feels a little steep to me.
My question is should I risk it and continue staking? Or do I pay these high fees to get it onto my ledger? What would you do?
Edit: Also curious why I’m being downvoted for a simple question. ????
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