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ETH Validator Staking with MEW Portfolio
ETH Validator Staking with MEW Portfolio

Stake 32 ETH for a full validator through our partner Staked

Katya Michaels avatar
Written by Katya Michaels
Updated over a week ago

The Staked integration in MEW Portfolio on web allows users to create full validators on Ethereum and earn rewards without the need for any technical expertise. In order to create a full validator, you'll need at least 32 ETH to stake. Multiples of validators can be staked at the same time. Staked maintains and updates all validator(s).

Note: You don't need to have an additional account with Staked or get in contact with Staked after you stake through MEW. All relevant information and management, including staking withdrawals, can be accessed in the MEW Portfolio interface.

Write to us at support@myetherwallet.com if you have any questions and follow MEW on Twitter, on Telegram, or join our community on Reddit to stay informed about important updates.


Staking is one of the easiest and low-risk ways of earning rewards on your crypto. Instead of just holding ETH, you can have it staked and earning more ETH without requiring any effort from you.

To learn about the different types of staking, as well as benefits and risks, please see: Understanding Staking


Stake full validators on Ethereum with MEW Portfolio

Creating full validators with Staked requires a minimum of 32 ETH.

If you want to stake less than 32 ETH, MEW Portfolio offers no minimum partial staking powered by Coinbase. See the following guide for details: Stake ETH with Coinbase in MEW Portfolio.

Step 1. Access MEW Portfolio on MyEtherWallet.com with your preferred wallet, including hardware, mobile, and browser wallets.

Step 2. Click 'Stake' from the left-hand menu, and then select Staked app. (You can also find Staked under 'Apps' from the menu.)

Step 3. Enter or select a multiple of 32 ETH. For each stake of 32 ETH, Staked will create one full validator on your behalf.

Review the information about your stake with Staked and click Next: Withdrawal address.

Step 4. Set your withdrawal address.

The withdrawal address is where your staking rewards will be deposited, and where your 32 ETH will be returned to if/when you decide to exit the validator. The withdrawal address can only be set ONCE and can't be changed. Make sure it's a non-custodial wallet to which you have full access (NOT an exchange address). If you lose the keys to the withdrawal address wallet, you will lose access to the stake and the rewards.

Step 5. Review details and click Prepare for staking.

Your validators will be prepared by Staked, which could take up to 10 minutes. Please don't leave the page.

Step 7. When your validator is ready, click Stake 32ETH, then Confirm and Send.

Step 8. Your validator should now be set up, though it may take some time to finalize. You can view your transaction on Etherscan or EthVM. Staked maintains and updates all validator(s). All you have to do is watch the rewards accumulate.

You can always check the status of your validator and rewards by accessing your wallet, going to the Status tab in the Staked app, and clicking 'View validator'.

Rewards

There are two types of rewards received from a full validator stake with Staked: consensus layer (validator) rewards, and execution layer rewards (MEV + transaction fees).

Validator rewards are distributed automatically via Ethereum smart contract approximately on a weekly basis, depending on number of active validators.

Execution rewards are collected by Staked.us for all the validators that it runs. Then, stakers are sent their share of execution level fees around the 5th of each month for the 16th-31st, and 20th of each month for the 1st-15th. Payouts are only made when a staker is owed >0.05ETH.

Withdrawal of staked ETH

If you first staked ETH with MEW before Ethereum's Shapella upgrade in April 2023, and have not set a withdrawal address yet for your rewards, please follow the guide below to update credentials and set withdrawal address. You will need to do this before you can receive your accumulated rewards or unstake and withdraw your staked ETH. Keep in mind that there is no urgency to updating your withdrawal credentials. Validators that don’t have an updated withdrawal address continue to accumulate rewards. The automatic withdrawal of rewards will only happen if and when the withdrawal address credentials are updated.

If you staked after Ethereum's full transition to proof of stake in April 2023, please skip 'Update credentials and set withdrawal address', and go to the next section below – 'Exit stake and terminate validator to withdraw 32 ETH'.

Update credentials and set withdrawal address

Please have your Eth2 credentials that you received when you first staked (keystore file and/or mnemonic phrase) ready before starting. You need to be connected with the same wallet that was used to create the validators in order to set the withdrawal address.

Step 1. Connect your wallet, head to the Apps section from the left-hand menu, select Staked and go to the Status tab. For assistance with connecting your wallet, see How to Access Your Wallet with MEW Portfolio.

Step 2. Click on 'Set withdrawal address' and read the warning.

The withdrawal address can only be set once and can't be changed in the future. Make sure you have full access to this wallet with your private key or recovery phrase, and it's a non-custodial wallet (NOT an address on an exchange). You will need to access MEW with this withdrawal wallet if/when you want to withdraw the full stake. So, if you're setting a different wallet as withdrawal address than the wallet that created the validators, you are essentially transferring control of the validator to the withdrawal wallet.

Step 3. Verify the validator using your Eth2 credentials received at time of staking – either with keystore file + password, or with mnemonic phrase. This is NOT the mnemonic phrase of the wallet you staked with or the wallet you are connecting with.

Step 4. Check the withdrawal address details to make sure it's the right address, and click 'Set withdrawal address'.

Step 5. After your withdrawal address is set, you will receive all of the staking rewards accumulated so far automatically to the withdrawal address via a smart contract. It may take anywhere from a few hours to a few days to see your first rewards deposited to the address, depending on the current validator queue on Ethereum.

After that, rewards will be deposited on a regular basis through a sweeping process.

Consensus level rewards are distributed automatically through Ethereum's staking contract.

Execution level rewards are collected by Staked, and then stakers are sent their share of the execution level fees around the 5th of each month for the 16th-31st, and on the 20th of each month for the 1st-15th. Payouts are only made when a staker is owed >0.05ETH.

Please keep in mind that MEW does not distribute or have control over staking rewards. You can read more about Ethereum withdrawals on the Ethereum.org Withdrawals FAQ.

Step 6. Click on 'View validator' to see the validator information, including estimated withdrawal times, on the BeaconScan validator page.


Exit stake and terminate validator to withdraw 32 ETH

Step 1. Access MEW Portfolio with the wallet you set as the withdrawal address.

If you access with the wallet that originally created the stake, and it's a different wallet than the withdrawal address, the 'Exit stake' button will be greyed out for you.

Go to Apps, select Staked, and go to the Status tab.

Step 2. Click 'Exit stake' and read through the information about validator withdrawal.

Step 3. Click 'Sign and exit', and sign the message by confirming on your wallet.

Step 4. Once your message is signed, you will see that your validator is in queue for withdrawal. Full stake withdrawals take longer than rewards withdrawals, and depend on Ethereum's queue and the amount of validators currently in line to withdraw. For more information, see the Ethereum.org Withdrawals FAQ.

Step 5. Click on 'View validator' to view validator details and withdrawal information, including estimated withdrawal times, on the BeaconScan validator page.

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