In this article
What is Ethereum staking?
Ethereum staking in Zengo wallet
How do I Stake ETH?
How do I withdraw my staked ETH? How fast is it?
How do I claim my withdrawn staked ETH? How fast is it?
ETH rewards
FAQ
What is Ethereum staking?
ETH staking involves locking up your ETH tokens to support the Ethereum network's operations, such as transaction processing and network security, and earn rewards in the form of additional ETH.
2. Ethereum staking in Zengo Wallet
The minimum amount to stake on Zengo is 0.1 ETH.
Once you stake your ETH, it will take approximately 12 days before you start earning rewards.
Your staked ETH will earn rewards on a daily basis, and these rewards will automatically be reinvested. This means you'll not only earn rewards on your initial staking amount but also on the rewards that have been accumulated previously, enhancing the compounding growth of your staked ETH over time.
If you decide to stop staking ETH, you can withdraw your staked amount & rewards at any time.
The withdrawal process takes approximately 10 days. Once completed, you'll be able to claim your unstaked ETH and return it to your Zengo wallet.
3. How do I Stake ETH?
The minimum amount to stake with Zengo is 0.1 ETH.
You can stake your ETH by following these steps:
Tap on the orange “Action” button in the bottom-center of your main Zengo wallet screen, and then on “Earn”.
Tap on ETH token
Choose the amount you want to stake
Confirm the transaction (note the transaction requires paying fees to the Ethereum network.
4. How do I withdraw my staked ETH? how fast is it?
Withdrawing your staked ETH back to your Zengo wallet requires 2 on-chain transactions, both of which require paying fees to the Ethereum network:
First, withdraw your staked ETH. You can withdraw any amount. Please ensure you have enough ETH in your wallet for the withdrawal & claim network fees.
Once your staked ETH is successfully withdrawn, you can claim your ETH.
Withdraw your staked ETH by following these steps:
On your Zengo home screen, tap on your Ethereum balance
On your main Ethereum screen, tap ‘Request Withdrawal’
Choose the amount to withdraw
Confirm the transaction (note the transaction requires paying fees to the Ethereum network)
Wait approximately 10 days until your withdrawal is available to claim
5. How do I claim my withdrawn staked ETH? How fast is it?
After initiating the withdrawal process, there is a waiting period of approximately 10 days before your ETH becomes available to be claimed.
Once the withdrawal process is complete, you must claim your withdrawn ETH to ensure it's accessible for use.
Ensure you have enough ETH in your wallet to pay the claim transaction network fees. Remember, these fees do not go to Zengo but rather to the Ethereum network.
Claim your withdrawn ETH by following these steps:
On your Zengo homepage, tap on your Ethereum balance
On your Ethereum assets detail view, click ‘Claim withdrawn ETH’
Choose amount
Confirm transaction (note the transaction requires paying fees to the Ethereum network)
6. ETH rewards
The amount you can earn from staking ETH depends on several factors, including the total amount of ETH staked on the network, the network's overall performance, and the current interest rate or Annual Percentage Yield (APY) offered for staking.
Annual Percentage Yield (APY) is the projected rate of annual return on your staked ETH.
When you stake ETH, you earn rewards that are distributed in ETH. These rewards are a form of passive income, as you earn them simply by holding and staking your ETH.
Your rewards are automatically restaked, allowing you to earn rewards on your initial stake as well as on the previously earned rewards. This compounding effect can significantly increase your potential returns over time.
You can view your ETH staking rewards by following these steps:
On your Zengo home screen, tap on your Ethereum balance
Below ‘My Balance’ you can see your rewards and the projected APY
7. ETH staking FAQs
What is the minimum amount I need to start staking?
The minimum amount to stake on your Zengo wallet is 0.1 ETH.
When will I start earning rewards?
When you stake your ETH, there's a waiting period of about 12 days before your funds are fully staked and begin to accrue rewards. Depending on certain conditions, this process may sometimes take a bit longer.
After your ETH is successfully staked, your rewards will be updated daily. This means you can expect to see incremental increases in your rewards over time.
Your rewards are automatically re-staked, allowing you to earn rewards on your initial stake as well as on the previously earned reward.
Does Zengo charge a fee to stake ETH?
Zengo does not charge any fees for staking ETH.
Staking ETH does require Ethereum network fees. These fees are entirely directed to the Ethereum network and are payable in ETH.
The transaction fees you’ll need to pay:
Stake Transaction Fee: This is the fee for sending the transaction to stake your ETH.
Withdrawal Transaction Fee: This fee applies when you initiate a transaction to withdraw your ETH.
Claim Withdrawn ETH Transaction Fee: After an approximately 10-day period for withdrawal, there is a transaction fee for claiming your unstaked ETH.