Cryptocurrency staking feature added to MetaMask app

The popular crypto wallet MetaMask has launched a staking feature. Users can now block their assets in Ethereum (ETH) via Lido or Rocket Pool and make money on it.

In practice, this means that any wallet user can start earning money on staking, bypassing the complex interfaces of other platforms and applications. But is it worth it?

In any case, staking is not without risk. And an extraordinary cancellation of staking (i.e., the return of your ETH from the contract) is currently impossible. However, Ethereum developers claim that this feature will be available in the near future.

For users who are not afraid of risk, staking can be profitable. Although reward rates vary, the MetaMask website claims that users can earn about 5.22% per year on ETH deposits with Lido and 4.59% with Rocket Pool.

According to Lido’s website, more than $ 6.9 billion in ETH is currently deposited through its service. ETH, which brings users a return of about 4.9% per year. Lido is a so-called liquid betting provider, meaning that users who place bets on ETH through Lido receive an equivalent amount of Ethereum (stETH) in exchange for their tokens. This allows stakeholders to remain liquid by blocking their ETH and still use them in other DeFi services.