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>> Download the MEW wallet app HERE
MEW has integrated Staked.us to make it easier than ever to create a validator on Eth2 and earn rewards.
When staking ETH on Eth2, a minimum of 32 ETH is required to create a full validator. Once staked, no further action is required. Staked.us will maintain and update your validator for you. Your stake will live on the Beacon Chain, which is the foundation for Eth2. For more information on Eth2, the Beacon Chain, and creating a validator, read our write-up on Phase 0 of Eth2.
You will also need an Eth2 withdrawal address. Eth2 withdrawal addresses are used to withdraw your staked ETH and rewards. With the MEW wallet app, your recovery phrase will be the same as the one used for your Eth2 withdrawal address.
Don’t lose your recovery phrase! It holds your keys for both your MEW wallet account and your ETH2 stake and is necessary for future access. No one can recover it for you, so it’s very important you take care of it.
If you want to stake less than 32 ETH, you can look into using the Lido DApp located in ‘Earn’ tab. Also, check out the ‘Lido on MEW wallet Android’ article for further guidance.
Staking and the Risks Involved
Staked.us is the provider for our Staking integration. Staked.us will not have access to your stake or rewards, but they will be responsible for maintaining your validator. If a validator is down for a prolonged period of time, there are risks of having your staked ETH slashed. Therefore, your stake is in the hands of Staked.us.
In addition, all staked ETH and rewards from your validator will be unable to be withdrawn until a later phase of Eth2 is released on an unknown date in the future. It’s very important that you understand all ETH staked during Phase 0 will be unavailable for withdrawal until Eth2 transfers are enabled in a later phase.
Staking your ETH on Eth2 using MEW wallet Android:
Open the MEW wallet app and enter your PIN to unlock it. When unlocked, click on the ‘Earn’ tab which looks like a tiny plant.
Find and click on ‘Ethereum 2.0 staking’.
Read and review the details and then click ‘Start Staking’.
Select a multiple of 32 ETH that you want to stake. For each multiple of 32 ETH, Staked.us will create and maintain a validator on the Eth2 Beacon Chain.
Need more ETH? Check out our ‘Buying ETH on MEW wallet Android’ article for assistance.
After choosing your stake amount, click ‘Enable staking’. You will then need to wait 10-20 seconds for Staked.us to provision your validator(s). When it’s done, click to stake your ETH.
Read and review our disclaimer and then click ‘Confirm’ if you agree.
Verify and check each box pertaining to the stake and then pick your transaction speed from the options.
For more information about Gas transaction speeds, check out the ‘What is Gas’ article for assistance.
Click ‘Stake _ ETH’ to start your staking
Congratulations! Your validator is now ready to go on ETH2, however, please keep in mind that it may take up to 48 hours to finalize. Staked.us will maintain and update your validator for you, so all you have to do is reap the rewards.
Keep in mind that you can always check on your stake by heading to the 'Earn' section on your MEW wallet app and clicking ‘Ethereum Staking with Staked’ again. Your current stake should be visible.
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