The Coinbase integration in MEW web allows users to stake any amount of ETH and start earning rewards right away. To participate, users deposit ETH to Coinbase and receive MEWcbETH tokens to represent their stake. MEWcbETH tokens earn staking rewards and compound automatically. The conversion rate between ETH and MEWcbETH refreshes daily, reflecting any earned rewards. Users can unstake and withdraw their ETH at any time.
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Stake ETH using the Coinbase integration
Step 1: Connect your wallet to MEW web and select the Stake page on your MEW dashboard. Select ETH Staking Powered by Coinbase.
>> For help connecting your wallet, see the following article: How to Access Your Wallet on MEW web
Step 2: Enter the amount of ETH that you want to stake and click 'Start staking'. You will receive the corresponding amount of MEWcbETH tokens, minus the staking and network fees.
Step 3: Look over the transaction details to make sure everything looks good. Confirm and sign the transaction on your connected wallet. You can view the transaction on a block explorer to track it.
Step 4: You can always view the status of your stake and its ETH value in the ETH Staking Summary section. The conversion rate and relevant balances update daily at 1PM UTC. You can also click to Refresh Manually.
Unstake ETH using the Coinbase integration
Step 1. Connect your wallet to MEW web and select the Stake page on your MEW dashboard. Select ETH Staking Powered by Coinbase.
>> For help connecting, see the following article: How to Access Your Wallet on MEW web
Step 2: Select the Unstake tab at the top of the app. Enter the desired amount and click 'Unstake'. Note that you will be giving MEWcbETH tokens back and receiving ETH in return, according to the current conversion rate.
Step 3. Look over the transaction details, then confirm and sign the transaction with your connected wallet. You can view the transaction on a block explorer to track it.
Step 4. Now, you should see the amount you requested to unstake showing as 'Pending Exit' on the ETH Staking Summary section. The summary status refreshes daily at 1PM UTC. You can also click to Refresh Manually.
Step 5. When the stake is ready to be withdrawn, you will see the amount show as 'Claimable Stake'. Click 'Claim now' and confirm the transaction on your wallet.
Step 6. Once the transaction is processed, the unstaked ETH will be deposited to your wallet. Your Staking Summary will show any remaining stake that continues to earn rewards. You can re-stake more ETH or withdraw the stake at any time.