Indian Crypto Exchange CoinDCX is all set to enable ETH staking on ETH 2.0.
The customers can participate without any technical issue or any high fund commitment.
The staking can be as low as 0.1 ETH.
User-Friendly Way to Stake ETH
One of the popular cryptocurrency exchange CoinDCX is all set to launch ETH 2.0 staking to support the ETH 2.0 Phase 0 launch as per the mentioned date. CoinDCX, having the vision to offer staking facilities for those users who cannot maintain the high fund requirement and the high technicalities announced its upgrade through an official blog.
CoinDCX has devised a smart contract-driven solution that can pool to stake Ethereum in the deposit contract of ETH 2.0. This contract allows user to stake ETH as low as 0.1 ETH in a single transaction through the staking option.
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In fact, CoinDCX would be managing other requirements for staking that include, multiple validator management, hardware cost, uptime and infrastructure. Therefore enabling the user to stake their ETH on CoinDCX and earn rewards as they could have staked on ETH network.
Apart from staking, CoinDCX is planning to offer different liquidity options which are currently kept open for the user’s comments and also for the community.
A Good Boost for ETH 2.0 Phase 0
As Coinpedia reported earlier that, Ethereum price can shoot up to the highest levels in the coming days, ETH 2.0 is considered as one of the major reasons. But the requirement of high numbers of validators with 32 ETH each might have scared the community. And hence the rate of staking has also slowed down.
Moreover, technicalities should adobe examined very closely as 32 ETH at the press time is nearly $14,656, which is pretty huge. Therefore, CoinDCX providing a platform to stake ETH might give a sense of security for the holders.
Collectively, ETH 2.0 is much awaited from a long time, and now when the kickoff for phase 1 is approaching, ETH staking needs to be amplified. By allowing ETH staking on their platform, managing other all requirements, CoinDCX has extended its full support towards the ETH 2.0 phase 0 launch.