1st December 2020: CoinDCX, India’s largest cryptocurrency exchange, launched its staking option for ETH 2.0, recently. CoinDCX now allows the pooling of user funds to create validators so that the user can participate in the network with funds as low as 0.1 ETH. Users have started staking funds to ETH 2.0 on CoinDCX. The exchange will take care of the overlying hardware and infrastructure maintenance cost. CoinDCX’s smart contract-based solution enables users who don’t have 32 Ethereum (ETH) — the minimum amount required – to participate in ETH 2.0 staking.
CoinDCX has always been at the forefront of embracing new innovations in the crypto industry. We extend our support and eagerly wait to see what lies ahead of Phase 0 launch for Ethereum 2.0. With regards to staking 32 ETH and earning staking rewards on one of the most renowned networks for smart contract development, we have come up with alternative solutions to circumvent logistical challenges related to ETH 2.0 staking and making the entire process hassle-free for all the users of CoinDCX.
After careful observation and working out different possibilities, we have decided to offer a user-friendly way to stake ETH without any high fund commitment or any technical hassles. We have devised a smart contract-driven solution to pool to stake ETH in the deposit contract of ETH 2.0. The contract will allow users to stake ETH as low as 0.1 ETH to 1000 ETH in a single transaction via the staking option available on CoinDCX. Multiple validator management, hardware cost, uptime, and infrastructure-related challenges will be managed by CoinDCX.
ETH 2.0 staking on CoinDCX is one-way staking and we are working on creating different liquidity options and providing the best value to our users.