You can now trade ETH2 for ETH!
We’re opening the ETH/ETH2 trading pair which should come as a delight to all who have staked or plan to stake your ETH. It means you can now trade your staked ETH - which is converted to ETH2 at the moment of staking - back to ETH.
Not sure what we’re talking about? And what on earth is ETH2? We have no doubt you’re familiar with ETH, the coin powering the Ethereum network. In a nutshell, ETH2 represents ETH that you have staked on the Ethereum 2.0 network, which is an upcoming set of upgrades to Ethereum that's intended to make it faster, less expensive, and more scalable. As part of the upgrade, you can stake your ETH in exchange for rewards to help secure the network and lock it in the process in the form of ETH2 which represents your stake. This is how you end up holding ETH2, which is automatically staked and locked until the upgrade to Ethereum 2.0 is completed.
This new update to our exchange means you don’t have to wait anymore to release your ETH2 which is locked, but you can easily and at any time trade it back for ETH. Where? Right here. By doing that you’ll stop receiving rewards, which are currently up to 5.58% of your staked ETH per year.
If you want to read more on staking in general, be our guest and open this blog post.
If you have some questions regarding ETH staking, here’s the FAQ.
And now that you know you can easily and effectively opt out of staking by trading your ETH2 back to ETH, you might want to start earning a passive income. You can start here.
Please note that the ETH/ETH2 trading pair is for the moment not available in the U.S.