• About Cryptocurrency Prices List
  • Privacy Policy
Newsletter
cryptocurrency prices list
Advertisement
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • About CCLP
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • About CCLP
  • Contact Us
No Result
View All Result
cryptocurrency prices list
No Result
View All Result
Home blog

How to Trade Rocket Pool on CoinStats

Vladislav Sopov by Vladislav Sopov
May 10, 2022
in blog
0
How to Trade Rocket Pool on CoinStats
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

India is the world’s leading adopter of play-to-earn gaming.

India is the world’s leading adopter of play-to-earn gaming.

May 27, 2022
History Of Davos And The World Economic Forum

History Of Davos And The World Economic Forum

May 27, 2022


The release of Ethereum 2.0 piqued everyone’s curiosity by staking their current crypto holdings for a profit. However, staking Ether isn’t as easy as depositing coins and then sitting back to watch your earnings grow, at least not without the help of third-party solutions.

Rocket Pool allows anyone to contribute to the new Ethereum network without having to configure and maintain a node. This not only makes it easier to onboard new users to Ethereum 2.0, but also allows less technically savvy users to participate in staking.

Staking isn’t for everyone, especially since Ethereum’s mint mechanism makes it easy to lose money for acting maliciously, even if it’s unintentional. As a result, it looks like staking pools are the only choice, with Rocket Pool being the best platform.

Read this guide to learn more about the decentralized Ethereum staking protocol Rocket Pool and how to trade Rocket Pool on CoinStats in a few simple steps.

Let’s dive!

What is the Rocket Pool

Rocket Pool is a network of decentralized nodes that provide Ethereum 2.0 blockchain validation services. Its goal is to give users who do not have the required minimum number of ETH tokens to stake, as well as those who do not have the technical expertise required to maintain a node, access to the network.

Rather than depositing the required minimum of 32 ETH, investors can stake with as little as 16 ETH. Additionally, Rocket Pool automates the entire process and handles all validators without requiring user involvement.

However, even though using Rocket Pool, Ethereum investors who want to participate still end up with the long-term commitment of locking up the tokens. Once staked, all assets are locked until the Ethereum proof-of-stake implementation reaches phase 2.

While Rocket Pool can’t undo this lock, it does a decent job of balancing risk through token staking.

When a user stakes 16 or 32 ETH, they are rewarded with the rETH token which represents two things: the stake and the return. Like any other ERC-20 token, stakeholders can use rETH while assets are locked by selling it, using it on DeFi platforms, or storing it in cold storage.

RPL token and Tokenomics

RPL is an ERC-20 token that serves as the primary protocol token. Users who want to make the project more secure can stake it on Rocket Pool nodes. However, it is not necessary to run a node.

Rocket Pool users who stake RPL in conjunction with at least one minipool validator earn an additional commission based on the size of their security deposit. However, if the user fails to complete their node tasks and ends up with less than 32 ETH as a result of a drawdown, their RPL deposit will be burned in proportion to the losses incurred in ETH.

RPL has a fixed quantity of 18 million tokens, of which 16 million are already in circulation. According to CoinStats, the market cap of the asset is $496.8 million at a price of $31.08 per token at the time of writing.

The coin also has speculative value, as investors are betting on the future success of the project as a top ETH2 staking platform. The RPL rose from $0.4 to $2.81 by 2020. Its value skyrocketed in 2021, reaching an all-time high of $58.40.

How to Trade Rocket Pool on CoinStats

Users can trade crypto tokens on CoinStats using the built-in trading tool. CoinStats provides the best swap rate by combining all of its decentralized exchange aggregators (1inch, 0x, etc.).

Let’s take a look at How to trade Rocket Pool to ETH on CoinStats

Step 1: Connect your wallet

connect wallet
Connect Wallet option

Go to coinsstats.app and search for RPL price in the search bar. Scroll down to “swap” features and connect the wallet in which you have the RPL token.

Once you click on the “Login” button, you will be able to see different choices of wallets offered by CoinStats. Find your wallet and connect it.

connect wallets and exchanges
Select the wallet to connect

You can connect it by scanning the QR code via WalletConnect or manually adding the Blockchain/Crypto and Wallet address in your web or mobile app.

Connect your wallet to CoinStats

Step 2: Select the token

After successfully linking your wallet, choose the token to trade by providing the data in cryptocurrencies or USD/EUR.

For example, we trade RPL for ETH.

Select a coin to trade
Select a coin to trade

In the “From” field, select the RPL token from your wallet, and in the “To” field, select “ETH”.

Step #3: Click Redeem

Click Advanced Options to change drag and throttle settings. When you’re done customizing, scroll down to the bottom of your screen and click the “Submit Trade” button.

After submitting your exchange request, you will be prompted to confirm it. To begin the trade, review the information appearing on your web or mobile application screen, then click the “Confirm” button.

Your transaction is being processed. The pace of your transaction will vary depending on the gas settings you select. You can track your transaction from the feeder appearing in the bottom right corner or from the wallet homepage.

REMARK: You will be charged network transaction fees, also known as gas fees. These are the fees required to complete a transaction on Blockchain. Essentially, gas fees are paid in the native currency of the network, i.e. Ethereum for the Ethereum network. CoinStats also charges a small exchange fee in addition to gas fees.

Final Thoughts

This year, Ethereum is enjoying a resurgence as institutions that are done accumulating Bitcoin are now turning their sights to the blockchain industry’s largest smart contract ecosystem. While Grayscale and other companies may buy ETH in bulk for speculative purposes, we are sure some investors will choose to diversify their holdings via staking.

Currently, staking pools are the only viable option for people who lack technical knowledge about computers and blockchain technology. Fortunately, platforms like Rocket Pool simplify supporting the Ethereum 2.0 network by depositing assets and delegating control to a node operator. And the best part? You don’t even need 32 ETH to join a mini-pool, 16 ETH is more than enough!

Rocket Pool has filled a critical void for ETH2 bettors in terms of minimum requirements and faster rewards. So, you can now start staking your own token without having to worry about infrastructure, incentives, and commissions.

You can also visit our CoinStats blog to learn more about wallets, cryptocurrency exchanges, wallet trackers, tokens, and more, and explore our in-depth buying guides on buying various cryptocurrencies , such as How to Buy NEXO, What is DeFi, How to Buy Cryptocurrency, etc.

Investment Advice Disclaimer: The information contained on this website is provided to you for informational purposes only and does not constitute a recommendation by CoinStats to buy, sell or hold any securities, financial products or instruments mentioned in the content, nor does it constitute advice. in investment, advice, business advice or any other type of advice. Our information is based on independent research and may differ from what you see from a financial institution or service provider.

Investments are subject to market risk, including possible loss of principal. Cryptocurrency is a very volatile market and susceptible to secondary activity, do your independent research, get your own advice and make sure you never invest more money than you can afford to lose. Trading CFDs, stocks and cryptocurrencies involves significant risks. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider your circumstances and seek your advice before making any investment. You should also check the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the websites of relevant regulators before making a decision.

Share76Tweet47

Related Posts

India is the world’s leading adopter of play-to-earn gaming.

India is the world’s leading adopter of play-to-earn gaming.

by Vladislav Sopov
May 27, 2022
0

When it comes to Play-to-Earn, India has taken the top rank (P2E). According to a new survey, 34% of Indian...

History Of Davos And The World Economic Forum

History Of Davos And The World Economic Forum

by Vladislav Sopov
May 27, 2022
0

Watch This Episode On YouTube or Rumble Listen To The Episode Here:In this episode of the “Fed Watch” podcast, we...

Bitcoin, Ethereum in Critical Condition

Bitcoin, Ethereum in Critical Condition

by Vladislav Sopov
May 26, 2022
0

Key Takeaways Bitcoin dropped below $28,000 over the past 12 hours.  Meanwhile, Ethereum lost the $1,800 level as support.  Further...

Bitcoin and Ethereum are in early days of adoption, Bloomberg Intelligence analyst says

Billionaire Mark Cuban Pours Cold Water on Terra 2.0

by Vladislav Sopov
May 26, 2022
0

Alex Dovbnya Mark Cuban has joined other prominent individuals in dismissing Terra 2.0 Billionaire Mark Cuban told Fortune that he...

Is the US Lagging Behind the EU in Crypto Investments?

Is the US Lagging Behind the EU in Crypto Investments?

by Vladislav Sopov
May 26, 2022
0

A report by the Federal Reserve (Fed) is shedding some light on crypto owners in the United States. As crypto...

Load More
  • Trending
  • Comments
  • Latest
Goguen stage smart contracts are a big step forward – Altcoins Bitcoin News

Goguen stage smart contracts are a big step forward – Altcoins Bitcoin News

September 10, 2021
P2P Crypto Market LocalCryptos Adds Support for Bitcoin Cash (BCH) » CryptoNinjas

P2P Crypto Market LocalCryptos Adds Support for Bitcoin Cash (BCH) » CryptoNinjas

September 10, 2021
Behind the scenes in the most important crypto platform

Behind the scenes in the most important crypto platform

September 10, 2021

Samtrade FX taps Spanish football, becoming the sponsor of Valencia CF

September 16, 2021
Texas Takes Steps to Amend Bitcoin in State Constitution

Texas Takes Steps to Amend Bitcoin in State Constitution

0
Behind the scenes in the most important crypto platform

Behind the scenes in the most important crypto platform

0
Goguen stage smart contracts are a big step forward – Altcoins Bitcoin News

Goguen stage smart contracts are a big step forward – Altcoins Bitcoin News

0
P2P Crypto Market LocalCryptos Adds Support for Bitcoin Cash (BCH) » CryptoNinjas

P2P Crypto Market LocalCryptos Adds Support for Bitcoin Cash (BCH) » CryptoNinjas

0
India is the world’s leading adopter of play-to-earn gaming.

India is the world’s leading adopter of play-to-earn gaming.

May 27, 2022
History Of Davos And The World Economic Forum

History Of Davos And The World Economic Forum

May 27, 2022
Bitcoin, Ethereum in Critical Condition

Bitcoin, Ethereum in Critical Condition

May 26, 2022
Bitcoin and Ethereum are in early days of adoption, Bloomberg Intelligence analyst says

Billionaire Mark Cuban Pours Cold Water on Terra 2.0

May 26, 2022

© 2020 CCPL - ( Cryptocurrency Prices List )

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2020 CRYPTO, CRYPTOCURRENCY PRICES LIST.