How to utilise ETH to buy more BCH

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Avatar for Tansoodo
4 years ago

Officially, it's still Ethereum (ETH) but it'll soon be known as Ethereum 2.0 once the new protocol is implemented.

This will involve the underlying model of the second largest crypto - by marketcap - shifting from Proof of Work (PoW) to Proof of Stake (PoS).

All of which is slated to happen in Q2 this year. So, not too long to wait.

With this transition, ETH holders will soon be able to earn by staking their coins.

While it's generally accepted that folks will need 32 ETH to host their own node, other entities - such as Rocket Pool (RPL) - will enable the pooling of resources. So, anyone with as little as one ETH will be able to stake and earn.

The forecast is bright

While forecasting the returns of this type of staking is always subject to change, Active CodeFi Networks have created a free to use calculator to provide an indication of what holders can expect to receive over a ten year time frame.

As you can see from the sample image, the interface is simple to use.

Simply type in the number of ETH you want to stake, choose your preferred currency, and hit the 'calculate' button.

You'll be provided with the results in table and graph format as well as a handy type box with the data condensed to include just the one year and ten year returns.

BCH anyone?

What you'll do with the money earned by staking ETH is obviously your concern and no-one else's.

For myself, I intend to use it to increase my BCH holdings.

Happy staking!

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$ 0.00
Avatar for Tansoodo
4 years ago

Comments

I don't get anything you have written

$ 0.00
4 years ago

Most excellent post on ETH 2.0 and staking! Opens up a major opportunity. Leveraged options for returns exist. But have not used them yet. You keys, your coins.

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4 years ago