Lido is a platform that allows you to staking Ethereum 2.0 with no minimum investment.
What you need for Ethereum 2.0 staking in Lido
The first thing you will need is a wallet compatible with Ethereum’s decentralized applications (Dapps). In CryptoNews we have made several tutorials on this type of wallets, such as MetaMask, Trust Wallet, Coinbase Wallet, among others.
The second are funds, in this case specifically in ETH. If you do not have ETH, in CriptoNoticias there are numerous tutorials that will help you find a place to buy cryptocurrencies according to the country where you live, in your local currency: Argentina – Bolivia – Colombia – Chile – Cuba – Ecuador – El Salvador – Spain – Honduras – Mexico – Nicaragua – Panama – Paraguay – Peru – Puerto Rico – Dominican Republic – Uruguay – Venezuela.
Put Ethereum on Lido in 2 steps
Step 1: Login to Lido.fi and connect your wallet
In the Lido.fi portal, select the Ethereum betting option. Then check the “Bet Now” option .
Close this window by clicking “Close and continue”. Doing this will give you access to the Ethereum 2.0 betting portal.
Now is the time to connect your wallet. For the purposes of this lesson, we will use MetaMask. If you use any other wallet, connecting your wallet to Lido may be slightly different.
To connect, you have to click “Connect Wallet”. and a small list of the different wallets available for Lido will open. There you will choose the one you prefer.
From your wallet you will be prompted to confirm the connection and sign the verification transaction. This process does not require you to pay any fees.
When you see your interface like in the picture above, it means that your wallet is successfully connected.
Step 2: Fund Stacking
Your wallet is already connected, now it’s time to deposit ETH, after which Lido will return the same amount to you in stETH .
First, in the “Amount” field, specify the amount you want to invest in stacking. Note that Lido does not set a minimum deposit amount.
In the next step you will click on “send” . This will open a window in your wallet to confirm the deposit.
In the notification, you need to make sure that the amount corresponds to the amount you have deposited. You should keep in mind that since this is a transaction in Ethereum, you also have to pay the fee charged by this network. Lido, for its part, charges a commission of 10% of the total stacking fee .
Now from your wallet you have to sign and confirm the transaction. Once this is confirmed on the Ethereum network, you will see the balance in stETH in your wallet. All dividends are paid to stETH holders every 24 hours .
With stETH in your wallet, you will already be betting on Ethereum 2.0 with the Lido pool .
You can track your dividends, which are automatically credited to your stETH wallet, under “Rewards” on Lido’s top menu.
How do I stop betting on Lido?
Having stETH in your wallet already allows you to earn income from Lido staking . It doesn’t matter if you purchased it through an exchange, what’s important is that you keep it at your address. Now, if you want to stop betting to get back your invested ETH, you have the option to sell stETH on some exchanges where this token is available. Some of them are Uniswap, 1inch and Gate.io. Keep in mind that when you have no stETH left in your wallet, you will stop receiving stacking fees.