You may have heard that new updates are coming in ETH. Here we will tell you about it and how it will impact your Staking account. “The Merge” marked an important milestone for the Ethereum network in 2022, as the blockchain platform moved from proof-of-work consensus to proof-of-stake. As a result, the network began to use validators and ETH staking became a key component of network maintenance. Shanghai-Capella (Shapella), the latest update of ETH, will focus on finally enabling withdrawals of Ether (ETH) tokens disposed in staking (wagering or participation) programs. If you want to learn more about the latest ETH updates, you can read our blog post. How will it affect my Staking account? The Ethereum upgrades will enable Staking withdrawals for the first time since Staking was introduced to the Ethereum chain. You can continue adding to your Earn Staking Account, and for the first time you will be able to withdraw assets. If you’d like to withdraw from your Staking Account, here are some things to remember: * We expect withdrawals from your Staking Earn Account to be available a few weeks after the Ethereum upgrades are complete – we’ll let you know when they’re ready. * The time taken to process withdrawals is set by the Ethereum protocol (not Blockchain.com), we anticipate that withdrawals after the updates could take weeks or even months to process. * You’ll remain liable for any taxes in relation to your Staking or other crypto products. |
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