What you should know about The Ethereum Merge
One of the most significant events in the history of crypto
On or around September 15, 2022, Ethereum will be moving to a Proof-of-Stake model, an upgrade to its network referred to as the Merge. It’s expected to be a monumental occasion for crypto so we’re standing by and getting ready. The exact time of the Merge isn’t yet finalized as it depends on Ethereum’s block mining difficulty and hash rate.
The highly anticipated event will bring Ethereum’s current network, known as the execution layer, together with the new consensus layer.
If you want to read more about the upgrade to Ethereum and the benefits this will bring, you can dive deep into the Merge in our Learn Center.
You don’t need to take any action; we’ve got everything covered
Prior to and during the merge, there is no action required from you.
While the Merge is taking place, we at Bitstamp will be monitoring developments. During this time:
- Trading will remain unaffected
- There might be slight delays in processing withdrawals and deposits. You can still initiate transfers, but we will process them once the merge is over and the network has stabilized.
ETH staking will not be affected in any way. If you have staked your ETH on Bitstamp, it’s listed separately from any unstaked ETH. Note that staked ETH balances will remain locked until the next upgrade to the Ethereum network, for at least another 6-12 months following the Merge.
If you want to trade your staked ETH after the Merge, you can trade it on the Staked Ether (ETH2/ETH) marketplace*.
What happens if there is a fork?
In case a fork happens, we’ll be monitoring it closely, and if any new asset emerges, it’ll be subject to the same standards and internal review processes as with all our cryptocurrencies being assessed. We will take a snapshot of our users’ ETH balances at the point of a fork to ensure we're able to provide the right amount of forked assets if we support them.
If you have staked your ETH on Bitstamp, it will be listed separately from any unstaked ETH. Note that staked ETH balances will remain locked until the next upgrade to the Ethereum network, for at least another 6-12 months following the Merge.
How you can take advantage of the merge
If you haven’t staked your ETH yet, you’re just a few clicks away from setting up a passive income by utilizing your ETH and effectively making crypto work while you’re invested.
Our Bitstamp Earn program** allows you to stake your ETH to earn monthly rewards and grow your crypto balance. Now you can earn roughly 4.1% APR, but after the Merge, the earnings are expected to increase significantly. The rewards are much higher than what many traditional financial institutions can offer, so it’s definitely worth checking out.
After the Merge, you’ll find your staked ETH balance under your Ethereum (ETH) wallet on the Bitstamp platform.
*Not available in the US.
**Not available in Singapore
Bitstamp is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.
Cryptoasset activity in the UK does not fall within the scope of the Financial Ombudsman Services (“FOS”) or the Financial Services Compensation Scheme (“FSCS”). Cryptoassets are currently not regulated by the Financial Conduct Authority (“FCA”). The value of cryptocurrencies is highly volatile. It can go down as well as up, and you may not get back the amount you invested. Capital Gains Tax could be payable on cryptocurrency profits. For more information on risks inherit to cryptocurrencies please visit: https://www.bitstamp.net/risk-warning/