How much Ethereum do you need to take in order to make a million dollars within the ten years?
So now, before we get started, and there are some things that I want to go over and to make sure that everyone is on the same page, and so and this is what I know about the staking and burning of the new Ethereum.
From what I know and the average annual return of staking Ethereum is 5.67%. This is based on the Ethereum website.
However, there is a cost to staking, and then that cost really varies depending on where you are staking it. There is a fee If you want just to take Ethereum right now. Most of these are from 10 to 15%.
For Binance, from what I know, you cannot stake Ethereum on binance in us. You had to use the original finance, and the original binance is not available in the united states.
İf you put that together since the average APR is only around 5.7% and the fee is already 10%, that means that you have to wait around two years to make your money back.
The other thing that you need to know about is that when you are staking Ethereum, you are pretty much locking your Ethereum coins until the eth 2.0 comes out, which might be in a year to two years.
So expect to wait for a long time. However, some platforms allow you to take it out earlier with very little cost.
Platforms like lido allow you to and take out Ethereum If you really do need to take the money out within a month or two. But keep in mind that they all have a fee and the average apr is only 5.7 per cent keep that in mind.Best FREE Crypto Trading Bots in 2021Best crypto trading bots for Binance, Coinbase, Kucoin, and other crypto exchanges in 2021. Quadency, Bitsgap…medium.com
The next thing that we’re going to be talking about is in the London hard fork that came with the recent Ethereum upgrade. And one of the most important upgrades was called eip1559.
İn that it had two parts. The first part will change how the gas fees work, which should allow for cheaper Ethereum transaction fees. And the second part is that it will burn these fees instead of giving them to Ethereum miners as a reward.
So from my understanding of the articles and the miners are getting less and less Ethereum for their work. And this is because Ethereum is moving to a proof-of-stake concept, and as that happened, miners are pretty much not going to be getting paid.
It is going to be a proof of stake which you will put your Ethereum in, and then that counts as a validator. But with this recent upgrade, it is likely in that the miners probably won’t get any coins for mining. They’ll just get a little bit of reward. Read More…