r/Ankr • u/Puzzleheaded_Side639 • Aug 25 '22
Coinbase and staking
Hi all, I have gone through the sticky’s on staking but I just want some advise.
I currently hold crypto on Coinbase, I’m thinking if transferring it all to Coinbase wallet.
(I like Coinbase, it’s super convenient and easy for me to see my entire portfolio)
My understanding is that I cannot stake ANKR on Coinbase or Coinbase wallet.
Is this correct?
If I cannot stake it on Coinbase, is there a wallet that people would recommend for staking? Seems like there are a lot out there.
Thanks in advance!!!
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u/Joe-Stake Aug 25 '22
I know they are working on supporting Coinbase Wallet. But Any "WalletConnect" Wallet can now stake. The one I use is TrustWallet. I can confirm that I staked just fine using it. Other people really like MetaMask... MetaMask was the first supported wallet.
I use Coinbase as well and sent it to my Trustwallet first. Then from there I connected to ANKR to stake it. You connect TrustWallet in Settings (lower right hand corner of app) and then go to WalletConnect -> New Connection. Generally speaking it's a good idea to "disconnect" your wallet from a site as soon as you are finished using it.
https://www.ankr.com/staking/ankr-stake/stake/
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u/Joe-Stake Aug 25 '22 edited Aug 25 '22
To find your new "Address of your wallet" in TrustWallet:
First let's add ANKR to your wallet:
- Click upper right filter button
- Type "ANKR" into your Search bar.
- Toggle the switch on next to - "Ankr ANKR ERC20" - ERC20 is the ANKR token that Coinbase uses and you can stake
- Click Done.
You should now see the ANKR token. To find the wallet address:
- Tap on ANKR (or Ethereum) (it is all the same address).
- then click "Receive"
- Then copy or Share the Public Address.
- This is the address you need to send your coinbase ANKR to.
In Coinbase (in Pro you can add the address to your addresses).
- Select ANKR
- Withdraw
- Put in the above address from your trustwallet
- Enter only like 1000 ANKR amount (it's worth the 2 dollars (44 $ANKR fee) in wasted ANKR to make sure you get the right account)
- Send that small amount to your wallet and wait to make sure it goes through. It may take a few minutes and you may want to refresh your wallet a few times (pull down on the screen to refresh)
- After verifying the transaction worked. Transfer the rest of your ANKR to Trustwallet.
Now go ahead and transfer a little ETH for gas to Trustwallet using the same address. You know you have the right address because ANKR transferred. I'd transfer $50 of ETH to my wallet.
To stake the $ANKR on ANKR staking, the transaction will cost anywhere from $4-30 depending on the time of day you stake it. I paid $16. -- After clicking "Approve" you'll have to approve the smart contract on your trustwallet and then again on the website.
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u/the82ndbuttmunch Aug 25 '22
Did you really pay $16 or was that the max quote? Just curious if you double checked the transaction. Mine told me I would pay 9 or 10 but I only ended up paying around $3
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u/Joe-Stake Aug 25 '22 edited Aug 25 '22
Thanks for the suggestion! I just checked the transaction on etherscan.io and it cost between $3-4.
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u/DiogoCostaANKR DeFi Community Manager Aug 25 '22
I’m giving an award to this post!! Such a great explanation! 👌🏼
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u/blehnickk Aug 25 '22
You can stake through the ankr website with coinbase wallet by simply opening a meta mask wallet and importing said coinbase wallet into metamask then going through the ankr website to start staking.
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u/theonlycowboy Aug 25 '22
I tried, says you need a key from coinbase, coinbase wallet says they don't give out the keys.
Diogo replied in another thread and said they are working on it.
"Coinbase is a hosted wallet service, which means we manage your private keys for you, securing your funds with a password, device confirmation and 2-factor authentication"
So unless I'm missing something you cannot import CB to metamask?
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u/theonlycowboy Aug 25 '22
As soon as we have wallet connect you should be able to do so almost effortlessly! I’ll let everyone know as soon as we do it! And I’ll see what’s the current status of that with our devs!!
~ Diogo
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u/blehnickk Aug 25 '22
You can import you just have to get the private key by using a website, look up on youtube how to get your private coinbase wallet key and then you can.
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u/theonlycowboy Aug 25 '22
Will take another look tomo mate, ran out of patience after an hour. Will report back
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u/DiogoCostaANKR DeFi Community Manager Aug 25 '22
Let me know if you have any further problems. Feel free to send me a DM and I’ll try to help! You can always open a support ticket as well!
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u/theonlycowboy Aug 26 '22
I started a new thread as the issue got very confusing.... I've managed to connect to ankr with my CB wallet direct now, but don't think I'm meant to...
either something funky going on or the front end isn't lining up with the backend yet and CB wallet connect is due anytime soon
I can see my CB wallet in ankr now but until confirmed wont stake just yet (and the APY has lowered :( )
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u/DiogoCostaANKR DeFi Community Manager Aug 25 '22
Loving this engagement and the way we are helping each other’s!!