11-17-2022, 02:58 AM
Withdrawing ETH2 from Coinbase. Should I pay the outrageous fees or keep staking?
<!-- SC_OFF --><div class="md"><p>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…</p> <p>For simplicity sake let’s say I staked exactly 1 ETH2 on Coinbase. I’ve made 0.05 ETH2 staking it for one year.</p> <p>With ETH currently worth $1,200 USD plus my earned 5% I now have $1,260.</p> <p>In order to get it off Coinbase and into my ledger I need to first convert it to Coinbase’s wrapped Ethereum…</p> <p>1 ETH2 = 0.9846 cbETH (wrapped ETH)</p> <p>So now I’m down to $1,240.59.</p> <p>Now I pay the 1% to convert to regular ETH.</p> <p>Now down to $1,228.18.</p> <p>Finally 1% to withdraw it to my ledger.</p> <p>After everything I end up with $1,215.89.</p> <p>$44 to withdraw one Ethereum!? That feels a little steep to me.</p> <p>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?</p> <p>Edit: Also curious why I’m being downvoted for a simple question. ?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ToadBoy1989"> /u/ToadBoy1989 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yx42pw/withdrawing_eth2_from_coinbase_should_i_pay_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yx42pw/withdrawing_eth2_from_coinbase_should_i_pay_the/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>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…</p> <p>For simplicity sake let’s say I staked exactly 1 ETH2 on Coinbase. I’ve made 0.05 ETH2 staking it for one year.</p> <p>With ETH currently worth $1,200 USD plus my earned 5% I now have $1,260.</p> <p>In order to get it off Coinbase and into my ledger I need to first convert it to Coinbase’s wrapped Ethereum…</p> <p>1 ETH2 = 0.9846 cbETH (wrapped ETH)</p> <p>So now I’m down to $1,240.59.</p> <p>Now I pay the 1% to convert to regular ETH.</p> <p>Now down to $1,228.18.</p> <p>Finally 1% to withdraw it to my ledger.</p> <p>After everything I end up with $1,215.89.</p> <p>$44 to withdraw one Ethereum!? That feels a little steep to me.</p> <p>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?</p> <p>Edit: Also curious why I’m being downvoted for a simple question. ?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ToadBoy1989"> /u/ToadBoy1989 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yx42pw/withdrawing_eth2_from_coinbase_should_i_pay_the/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yx42pw/withdrawing_eth2_from_coinbase_should_i_pay_the/">[comments]</a></span>