- Trezor integrates Ethereum staking into its Suite, enabling ETH holders to earn rewards with a minimum of 0.1 ETH.
- Staking on Trezor is facilitated through a partnership with Everstake, enhancing security and ease of use for users.
Trezor, a prominent hardware wallet manufacturer, has recently added Ethereum staking to its Trezor Suite application. This enhancement allows Ethereum holders to engage in staking activities by locking a minimum of 0.1 ETH in their wallets to earn rewards. The feature was developed in partnership with Everstake, a service platform that specializes in staking.
The new staking functionality in Trezor Suite enables users to participate in essential Ethereum network operations, such as validating transactions and creating blocks, by staking ETH. This activity requires less energy and hardware compared to the mining processes associated with other cryptocurrencies like Bitcoin.Â
Users interested in staking can easily set up this feature through a simple update to their Trezor Suite, select their desired amount of ETH to stake, and start accumulating rewards while maintaining full control over their digital assets.
The staked ETH remains locked and is not available for trading until the user decides to unstake it. The process of unstaking typically takes a few days, after which the ETH and any accrued rewards become immediately available. The rewards earned from staking are automatically reinvested, which compounds the user’s returns over time.
Trezor’s staking feature works across all its wallet versions, such as the Model T, Model One, and the newly introduced Trezor Safe 3. This functionality upgrade broadens the capabilities of Trezor’s offerings, enabling users to engage in buying, selling, exchanging, and staking cryptocurrencies all from one unified and secure environment.
Despite recent market volatility and Ethereum’s price struggles to break the $3,000 resistance level, the introduction of staking has bolstered market optimism. The ability to earn rewards through staking has increased the utility and attractiveness of holding Ethereum.
In terms of security, Trezor has partnered with Everstake to ensure a secure staking experience. Everstake has been in operation for over six years and is trusted by more than 750,000 investors.
It currently manages over $1.5 billion in staked ETH. The platform has passed two independent audits conducted by ChainSecurity and Ackee, confirming its compliance with rigorous smart contract security standards.
While Trezor and Everstake provide a secure environment for staking, it is essential for users to recognize the risks associated with smart contract interactions. Though the contracts have been audited, engaging with them requires a level of trust in Everstake’s management.
By integrating Ethereum staking into its suite, Trezor continues to adapt to the evolving cryptocurrency landscape, offering users innovative ways to manage and grow their digital assets securely.
