Earn 4.5% APY Staking ETH on Binance
45sClear, actionable financial advice with specific numbers that viewers want to know.
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This video provides a brief tutorial on two methods for staking Ethereum (ETH) to earn yield. The first method involves staking on Binance, while the second uses the Lido protocol with a personal wallet. The video highlights the benefits and a key downside of Ethereum staking.
Chapters
[00:02]
Staking on Binance
To stake ETH on Binance, you need to have BETH in your Binance account. You can swap your ETH or BUSD into BETH, which represents your investment. Staking yields are paid directly into your spot account.
[00:17]
Staking with Lido
Lido provides ETH staking services through smart contracts. You need to get ETH into your crypto wallet (e.g., using a hardware wallet for safety). Then use Lido to stake, inputting the amount you want to stake, and you'll receive staked ETH (stETH).
[00:32]
Buying stETH on DEX
Alternatively, you can buy stETH directly on a decentralized exchange (DEX) like 1inch, by swapping USDT or ETH into stETH.
[00:44]
Accruing Rewards and Downside
Once you have stETH in your wallet, it accrues staking rewards daily. A major downside of Ethereum is high transaction fees, which can eat into your staking rewards.
The video offers two practical ways to stake ETH—via Binance or Lido—and reminds viewers to consider Ethereum's high transaction fees when calculating net returns.
Mentioned in this Video
Tutorial Checklist
Study Flashcards (5)
What is the first method to stake ETH mentioned in the video?
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What is the first method to stake ETH mentioned in the video?
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Staking on Binance by swapping ETH or BUSD into BETH.
00:02
What does BETH represent?
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What does BETH represent?
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Your investment into ETH staking on Binance.
00:02
How does Lido provide staking services?
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How does Lido provide staking services?
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Through the use of smart contracts.
00:17
What token do you receive when staking with Lido?
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What token do you receive when staking with Lido?
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stETH (staked ETH).
00:17
What is a major downside of Ethereum mentioned in the video?
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What is a major downside of Ethereum mentioned in the video?
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High transaction fees that take away from staking rewards.
00:44
💡 Key Takeaways
💡
Two staking methods
Provides a clear comparison between centralized (Binance) and decentralized (Lido) staking options.
00:02
📊
High fees as a downside
Highlights a critical consideration for stakers that is often overlooked.
00:44Full Transcript
[00:02] yield is about four and a half percent first method just get beath in your binance account you can swap your eth or busd into be this represents your investment into each staking on binance you get the staking yields paid right
[00:17] into your spot account method two get steak teeth in your crypto wallet Lido provides each staking Services through the use of smart contracts download a is to buy a hardware wallet for safe keeping links and bio for that get your
[00:32] eth in your crypto wallet and then use Lido to stay input the amount you want to stake and it'll give you the staked eat or you can just buy the steak teeth directly on a decentralized exchange like oneit choose usdt or eth right here
[00:44] and swap into staked e once you have steak teeth in your wallet it will accrue staking rewards on a daily basis a big downside of ethereum is that transaction fees are so high which will take away from your staking rewards
[00:56] binance there are options and choices for everyone
