Step-by-Step Guide for ETH Staking

• What Is ETH Staking?
• How to Stake ETH via Kiln on CoolWallet App?
• How to Claim Staking Rewards?
• FAQ – ETH Staking

What Is ETH Staking?

ETH utilizes the Proof of Stake (PoS) mechanism. Typically, Ethereum protocol requires staking in multiples of 32 ETH, limiting participation for those with fewer assets. For instance, owning 35 ETH allows you to stake only 32 ETH. 

However, with the integrated service Kiln Staking Pool on CoolWallet App, you can start staking with as little as 0.1 ETH and earn rewards.

How to Stake ETH via Kiln on CoolWallet App?

All CoolWallet products, including CoolWallet Pro, S, HOT, are supporting ETH staking via Kiln.

Step 1. Navigate to “Marketplace” > “Staking” and select “ETH”.

Step 2. Tap “Stake” and enter the desired ETH amount to stake. We also recommend keeping a little ETH as the gas fee for the staking and unstaking transactions.

Step 3. Review the staking information and complete the verification process.

Step 4. Once the transaction is finalized, monitor your staking status on the “Manage Stakes” page.

How to Claim Staking Rewards?

ETH rewards earned through staking are automatically reinvested to compound your earnings. This means that the rewards you receive from staking are not immediately available for independent withdrawal. Instead, they are added to your staked amount to generate further rewards. When you decide to withdraw, both your original staked ETH and the rewards accrued over time are released together. This allows you to withdraw the total accumulated amount – comprising your initial stake plus all the rewards – in one transaction.

Step 1. On the wallet page, go to the “Staking” tab, select “ETH,” and choose “Request to unstake”.

Step 2. Complete the unstaking verification process.

Step 3. After verification, please wait for 3 days. Then your original staked assets and rewards are available for withdrawal. Check the status on the “Manage Stakes” page.

Following a 3-day waiting period, your staking status will update. When you see “Unlocked, tap to retrieve your asset”, click on this prompt to begin the withdrawal process. This action will allow you to recover both your initially staked ETH and any accumulated rewards.

FAQ – ETH Staking

Q. How is the ETH staking rewards calculated?

According to the Kiln smart contract mechanism, you can start accumulating rewards immediately after staking. When the staking liquidity pool of Kiln accumulates to 32 ETH, it will automatically activate new validation nodes.

ETH rewards earned through staking are automatically converted into staking assets to help you earn more rewards. Therefore, you cannot withdraw the ETH rewards obtained through staking independently. When you apply to withdraw your staked assets, both the original staked assets and any subsequent rewards earned will be unstaked. At this point, you can withdraw all your ETH staked assets simultaneously.

Q. How long does the waiting period take after I request to withdraw staking?

Please be aware that the waiting time is calculated based on the withdrawal amount and the queue in the Kiln staking pool. As a result, the actual withdrawal time may vary slightly.

Once the waiting period ends, you can click on that record to withdraw both your staked assets and the accumulated rewards.

Q. Is the Kiln staking pool service secure?

The smart contracts developed by Klin have received recognition from the Ethereum Foundation and have undergone various audits, multiple Ledger Donjon penetration tests, and certifications such as SOC 2 Type I, SOC 2 Type II, with a commitment to at least annual audit tests to ensure the safe operation of smart contracts. Learn more here.

Q. What are the risks of staking ETH through Kiln?

The main risks involved in Ethereum staking include smart contract vulnerabilities, penalties, and service interruptions. Kiln addresses these risks through the implementation of anti-penalty strategies and monitoring responses. Since Kiln activated its first validation node, there have been no penalty events. Learn more.