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Ethereum Staking Tutorial via imToken Wallet
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Ethereum Staking Tutorial via imToken Wallet
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May 26 , 2021 · 2 min read
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Ethereum Staking via imToken Wallet Tutorial

InfStones has established a partnership with imToken to provide support for in-wallet non-custodial Eth2 staking service for its community. We warmly welcome ETH holders to stake their tokens using “ImToken Wallet”. Wallet users can confirm the status, balance, performance, and profitability of the validator in their mobile wallets at any time. Plus, it’s non-custodial which means users will have full control of their ETH.

With your 32 ETH ready, the following guide will walk you through the steps of staking to get a validator node on the Ethereum Beacon Chain.

Step One

Download the App “imToken 2.0 Wallet” using this link. Set up the account by following the instructions on the App. make sure to safely store your mnemonic seed phrase & do not share it with anyone

Step Two

Click on “Eth2 Staking” to enter the staking page, then click on “>” — “Stake”.

Step Three

Enter the number of nodes you want to purchase, each node requiring you to deposit 32 ETH. After confirming the number of nodes, click on “Next” to enter the fee confirmation page.

Step Four

Select the Eth1 wallet address to pay and check the total amount which consists of the deposit amount, service fee and gas fee.

Deposit amount: 32 ETH per validator node.

Service fee: for the service of InfStones to maintain the operation of the node.

Gas fee: Required to send this transaction and depends on the real-time gas price of the Ethereum mainnet

Please note: The price of the service fee will be restored afterward, please refer to the service fee shown in the wallet when purchasing.

Step Five

Please read the risk clause carefully and note that:

The deposited 32 ETH and accumulated rewards will not be transferrable until the Ethereum mainnet is merged with the Beacon Chain, which means they will potentially be locked and non-redeemable for 1 year or longer.

The mnemonic of Eth1 wallet will be used to retrieve ETH deposited on Eth2 after the Ethereum mainnet is merged with the Beacon Chain. So please back up your mnemonic safely. If you lose the mnemonic, there will be no other way to retrieve the funds.

Carefully read the risk clause and confirm payment. After the transaction is created, please wait for confirmation on the Beacon Chain, and the estimated waiting time is somewhere between 12 and 18 hours.

Step Six

After the confirmation is done on the Beacon Chain, the validators will wait in a queue for activation as only 900 validators can get activated per day. As of this writing, the waiting time for activation is about 4 days.

Once the status of the validator switches from Pending to Active, it will start staking and accrue interests. You can check the BETH on the staking page and click on “Validators” to check the balance and APR and other details.

Please note: BETH (Beacon ETH) refers to your asset on the Beacon Chain. Each BETH represents 1 ETH you staked and you will receive your staking rewards in BETH too. However, BETH cannot be transferred or redeemed until the Ethereum mainnet is merged with the Beacon Chain.

Beacon Chain Explorer

https://beaconscan.com/

https://beaconcha.in/

If you have any questions during the staking process, please feel free to reach out to us using our social media channels as below

Website | Medium | Twitter | LinkedIn |Telegram

About InfStones

InfStones is an advanced, enterprise-grade Platform as a Service (PaaS) blockchain infrastructure provider trusted by the top blockchain companies in the world. InfStones’ AI-based infrastructure provides developers worldwide with a rugged, powerful node management platform alongside an easy-to-use API. With over 20,000 nodes supported on over 80 blockchains, InfStones gives developers all the control they need - reliability, speed, efficiency, security, and scalability - for cross-chain DeFi, NFT, GameFi, and decentralized application development.

InfStones is trusted by the biggest blockchain companies in the world including Binance, CoinList, BitGo, OKX, Chainlink, Polygon, Harmony, and KuCoin, among a hundred other customers. InfStones is dedicated to developing the next evolution of a better world through limitless Web3 innovation.

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