ETHEREUM 2.0 Staking Guide: EARN every day by staking ETH

So this is the ultimate guide for setting up your own Ethereum 2.0 node. Now, why do you want to do that? Well, that's because you can get some passive income. You can get up to, at this current rate, $220 per month, or roughly about 0.4 ETH per month as income for running an Ethereum 2 validator. So that's actually pretty good. I mean, you know, just sit there, earn money on the side, and we're going to use a hosting service for this. So you don't even need to run it on your own computer. So you'll need 32 ETH to get this started. So yes, it does require a little bit of commitment. And this is the amount set by the guys at Ethereum. So they decided 32 is the magic number to stake with. In this video, we're going to show you the, take you through the official Ethereum launch pad. So this is going through all the steps and kind of the nuances along the way to make sure that you understand every stage that you're at. One thing that we will be using in this video is all nodes. The reason why we use all nodes is because it's one of the cheapest ways to host it. And one of the most reliable. I've been personally using all nodes to host my Zcoin nodes, myself, my master nodes for roughly one and a half years now. And it's the service has been perfect and they take care of all the backend stuff for you. So technically speaking, you know, I think a lot of people are a little bit scared at the first, because if you're running an Ethereum 2.0 node, you need to keep a computer running up 24 hours a day. You need to keep the software up to date. You need to make sure that your hacker approval, all of this is handled. I've seen a few other exchanges offering staking services. And honestly, the reason why you want to do it this way, the way I'm teaching you guys in this method is because you get to keep your keys. This is very important because those keys control 32 EF at this current point is our $18,000. You don't want the exchange to be in possession of that. I've been victims of exchange hacks in the past. It's very unpleasant. So at the end of the day, you actually need a piece of paper and a pen, and you're going to write down the words that allow you to give you full control over that cryptocurrency. Now, this guy that I've done this, I've actually done this live in a live video. It's around an hour long, but I cut it down to roughly 20 minutes to shrink it down. So it kind of just gives you a faster paced video. Now, if you want to see the full video, I'm going to put a link up here for the entire video taking you through the entire process. And you're going to see the comments people have typed along the way. So starting off, you know, we're going to just go on all nodes. And this is the interface. Once you log in now on top, they've already said Ethereum two points sticking already launched, learn more. So why not just go for the easiest way. And you're going to click the host ETH 2.0 button. This is the one I'm going to choose. And we're going to be on mainnet. This is why this is going to be intense. We're also going to connect a wallet here. So this is a, they automatically let you connect a wallet. So I'm going to just connect it to my MetaMask. So I'm just making sure that this is the correct wallet. Yet again, if you guys don't know how to connect your MetaMask up with your ledger, there's something that I do recommend for any amount larger than say 5,000 US dollars. Um, yeah, just so there's a video, um, that I've had called, um, the MetaMask guide advanced tips and tricks. You can connect it with a ledger. This is the way I recommend to do it because hardware wallet safety, right? Now how comes the instructions part? Um, you have to go through the process on Ethereum 2.0 launch pad. All right. So this is where you open up the launch pad and you see the nice Mr. Mr. Rhino here, who's going to guide us through the process of doing this. So to get started, um, click the get started one and taking you through the process that tells you about what Ethereum 2.0 is. And even though there's a lot of read, um, to read, I do recommend that you read up this, this, this part is very important. And this is why I have the piece of paper right here in front of me. Um, it's because you need to keep up another. Monomic and a bunch of words. It's almost like setting up your ledger or setting up your wallet in a way you must remember these words and you also must make sure that these words are safe from hackers. These words are required to make your withdrawal at the end. That means if you lose these words, you're not going to get your funds back. Yeah. That, that happy 32 ETH that's going to be gone forever. It might be even worth more when everything's activated. So make sure you keep this, these words safe. Um, write it down, write it down with a good pen too. You know, you don't want to, you know, get hacked. Also don't, I usually say this, don't usually save it up on your computer. Your computer can be breached. If you store it as a text document on your computer, then yeah, yikes. Um, if someone breaches that computer, you're going to have a, um, uh, you're going to donate to them $18,000, right? Or 32 ETH. Lastly here, this is important for everyone to understand. Basically, this is a one-way trip, right? Transfer delay. Transfers between validators are disabled until at least phase one. Validators will have to wait until phase two, around two years to be able to withdraw to a specific shard. So this is the big launch, right? You're going to see Ethereum launch off to the moon, but whilst it's on that spaceship, you're not allowed to transfer. So yet, yet again, this is why it's a huge commitment for me as well. I'm going to be locking up that Ethereum yet again. It's, it's, it's, it's an involved process. You want, you want to have some ETH. Well, you're not going to be able to transfer that ETH until at least phase one. So if you guys want to know a little bit more about the Ethereum phases, we're currently at phase zero. So this is the starting point. Rocket just launched off. You can't do any transfers. If you want to know a little bit more, I run through the phases and everything on the boxmoney.com website. I'll put a link down below as well about all the phases there, but expect to wait a year to be able to transfer this Ethereum again. You know, that's, that's kind of a rough estimate. All right. So yeah, we've got all this. We're confirmed. We're ready to go. Now, this is the part that I did personally myself. You're supposed to run an ETH 1.0 client. You don't need it for this. That's a great part of hosting on all nodes. They take care of it for you. Congrats. Next part. This is something cool. I want to explain this a little bit at the very least is that Ethereum 2.0 is not developed by just Vitalik, right? I think this is a point to point out that one thing cool about Ethereum 2.0 is that there are multiple clients, multiple groups developing software for it. And this is the coolest part about ETH 2.0 is that it's not just made by Ethereum core. And this is the one piece of software you have. It is a protocol and people can use different clients. So they just look at the specifications, write their own protocol, and you're good to go. So you can choose between here. But yet again, with all nodes, they choose the protocol for you. You don't have to set this up. But I just found this is kind of cool that with Ethereum 2.0, it's a lot of decentralization, decentralized developers. That's core. So I just want to highlight this part that if you're running this personally, you can choose. Next page. Validators we want to set up. We want to set up one validator. All right. So 32 ETH. You can definitely set up more. It just gives you instructions here. If you're a baller, if you just want to, if you're a super baller, you want to set up like 99, 88. You know, I'm Chinese, obviously. 888. That's possible too. I'm just going to set up one simple validator and the cost is 32 ETH. I want to demonstrate this on windows. So which operating system are you doing? You're going to generate this on windows. And I'm just going to show you the process of setting up your key phrases. So one thing to keep in mind here is that it might look a little bit scary, right? Because you're going to use the CLI app, right? Command line interface app. And it might look a little bit scary, but just rest assured. It's pretty simple instructions to write. And this is why I did it live. Now you're going to click it to download from GitHub. So you're going to download it from straight from the developers. And you must make sure that it's github.com. Yet again, there's some scammers out there. Just, yeah. There's so many scams here. Just make sure you're on official website. ETH.org, github.com, Ethereum. All right. That's the correct one. Now, yet again, I'm going to have to choose which release I want. So it just goes here. Why Pyramont rhyme doesn't rhyme with anything. This is the one we're going to download. You can see a lot of files here. What you want to just choose is for your operating system. So if you're on windows, choose windows AMD 64. Just download this file. If you're on Linux, if you're on Mac, just go for Darwin. Darwin is Mac. So I've just downloaded the file here. It's the same file. I just put it. It goes into download. And I'm going to extract here. Magic. It's going to generate this file called deposit, right? So that's the key here. So you're going to extract the zip file. It's extracted. And it's in this folder called deposit. Now, this is kind of where the magic starts. You can follow the instructions here. I've done it multiple times yesterday. And this is the key instruction you need to run on the command line interface. Deposit.exe. You want to generate a new mnemonic, the new key phrase. You can set validators as one and the chain as mainnet. So I'm just going to copy that for now. I'm going to do a little Windows trick yet again. Because it's a command line interface, if you just double click and run this, nothing's going to happen. It's going to open a window and it's going to close on itself. That's because it's a command line interface command. You need to be running in some sort of terminal. So yet again, in Windows, it's shift. So you can press shift on your keyboard and shift, right click on that. And it says open PowerShell window here. This is what you're looking for yet again. So it's a little bit involved. You're going to see the infamous blue screen, blue screen, blue screen. And this is how it's mostly run right now. Now, if you just directly run the instruction, yet again, I've done this multiple times. So I know I'm right clicking now. I'm pasting the command that I just copied over here. It's going to bring up an error, right? This is just kind of how Windows is set up right now. I'm using Windows 10 and it just says, okay, deposit exe is found, right? But you need to enter a dot hash in front. So I'm going to just do that dot slash. And I'm going to paste the command here. It's just one extra step. So yet again, Windows kind of tells you what to do. And you're just entering the command you got just now from. All right. Type enter. And we're starting to run. So choose a monomic language. You can choose between multiple languages. I'm just going to choose English. It makes more sense for me. All right. And then you have to type a password to secure that phrase. So yet again, typing that password in. Remember, this password is extremely important. If you do not remember this password, you are going to get wreckaged. So if you need to write on a piece of paper somewhere, do write it down on a piece of paper. Now you're taking it to the next step. This is the magic. This is your mnemonic. This is the words that you must remember. This is the ones that you have to type down. And this is also the magic words that are going to allow you to unlock your Ethereum 2.0 once that transfer is enabled. So this is actually very, very key here. You want to make sure that you remember these keywords. Now, like I said before, I got a piece of paper to write them down. And I'm going to write them down twice. All right. But that's for safety. You know, sometimes handwriting sucks. You can also print these out. That's viable. I've printed them out before. But, you know, just make sure you keep them secret. Keep them safe. Obviously, I'm going to say here, I'm doing this on the live stream. Obviously, you guys see this key. This is definitely not the way you want to do it, right? You definitely don't want to show anyone your key. You don't want to show that on camera. You don't want to do this. If someone sees this and someone tries to just enter that in, yes, they will be able to claim my Ethereum at the end. All right. So my 18K US dollars worth of Ethereum, those 32 EVE, that will be lost if I use this phrase. So just know that I'm doing this for demonstration. But this is not the key that I'm actually going to use. All right. Okay. I'm going to write it down for real because just do it correctly. So some people who are really good at memory, they can remember this filter down. So, yeah, those are my words. I would recommend if you do it, write it down twice. All right. I'm so, I'm like, for me, it's, you know, this stuff is important. Now, Ethereum does something very cool, which is that you have to type it down. You have to type it down again. So you have to make sure you wrote it down correctly. So I'm going to try to do this. We'll see how it goes. So, you know, sometimes handwriting, you won't be able to read it. It happens to me multiple times. So, you know, shoulder, tornado, unveil, wasp, obey, iron. All right. All right. Fingers crossed. I want this. All right. Past. Past. Yes. Oh, yeah. Oh, yeah. I got it. All right. So that's like success. Typed the words correctly. And we are good to go. So I say it's creating keys, verifying keys, verifying deposit keys, success. We see Mr. Rhino. Mr. Rhino tells us. So that's the entire process. Is it painful? A little bit. But is it worth it? Absolutely. Security cannot be underestimated at this point. Okay. So we press anything to continue. You are successful. You are done. And also, let's open this window here. You'll see this new folder being created called validator keys. And you can check up on those two keys. It contains something called deposit data. And it contains something called key store at the current point. So make sure to keep this also very safe too. So like, you know, keep this safe. Keep it secret. Keep it safe. All right. So press any key. We're done here. That's finished. So this is what we wanted. We wanted at this point to generate the keywords. So get the key files ready and the validator files ready. And also get the deposit JSON ready as well. We are ready for the next step. Now, this is a step where you're going to add the file over. So let me just go to here. Check. Yeah. Make sure this is the correct one. Make sure the file name is correct. Yep. That's correct. Continue. Metamask. Metamask is correct. Aware. Good. I'm good. I'm good. I'm good. I'm good. And then we are ready to initiate the transaction. Initiate the transaction. All right. Metamask. Don't fail us now. So we're actually going to do the transfer. This is on Ethereum mainnet. This is for 32 ETH as well. I'm just going to unlock my ledger right now as we go. So we can make sure that's happening. So yet again, make sure that you don't reveal your ledger pin code. All right. I'm sweating inside. This is a big moment for me. We're sending 32 ETH to the deposit contract. You can also verify it slightly here. The deposit contract starts with a lot of zeros. So 0, 0, 0, 0, 0, and it ends with 0, 5, F8. Yet again, I'm making all these security checks to make sure I'm not sending to the wrong address. I'm not, you know, screwing this up somehow. If you ever find something, you know, this screw up, you can always hit reject key. That's not a problem. Click the confirm button. All right. That window is going to pop up. The security now can show the ledger. The ledger is here. You're going to review the transaction. Data is present. Again, you can see the address kind of. It has a lot of zeros here. So I'm making sure that this is the right address. It ends with 0, 5, F8. Making sure all these addresses are correct. Accept and send. Good luck to us. Good luck to us. You can also see that. Okay. So that transaction is getting sent right now. Metamask did not fail us. It's happening, guys. Iceborg once this is happening. We got it. We got it, guys. We got it. We got it. So checkmark sent the transaction successful. Blast off. That ETH now is on its way. Right? That's on its way to Ethereum 2.0 right now. It's interacting with the deposit contract. There is no way back. There's no way to cancel now. That's 32 ETH. That's $18,000. You know, sent it off to ETH 2.0. We are watching history, says J-PAR. Yes, as you're watching box mining history at the very least. But anyways, we're all good now. We're back. We're going to all nodes. We're ready for Ethereum launchpad. So I've generated the Ethereum 2.0 phrases. I've generated deposit data. I've also deposited Ethereum to the contract. So yet again, next step, make sure that everything here is correct. Next step. Here. I will be choosing the slightly advanced version of this. Get that done. Available advanced nodes. Let's go host that up there. All right. Drag files. So now you'll be asked for the files. So I'm going to drag to upload. So first of all, it asks for the deposit data file. Drag, drop that in. Now it's going to ask for the T-store. Drag that drop in. Yet again, make sure that you got the right ones, guys. All right. And now you have to also have the password. So this is the password that we generated at the start. So when we used to lock up everything, I'll tell you to, you know, remember that password. Well, remember that password. All right. Okay. Create nodes. We're ready, guys. All right. That's it, guys. That's it. Notice launch collecting data. Pending. All right. So everything that we need to do is now done. All right. That's it. That's all you need to do. Period. All right. Node, you're going to let everything, we're going to watch this in the future. It will take some time. All right. This is where, yet again, patience is a virtue. We just launched it. We just made the deposit. We just submitted all the data to the staking contract. And we just submitted it to the server as well. Something that you guys saw just now, and I also explicitly asked about this too, is that, you know, I dragged these two files, one is deposit data, one is key store to the server, and I gave it its password. Is it safe? Is it secure? That's actually a big concern for me. So prior to making this video, I did ask the guys at All Notes. So this is Sephiroth. I did ask Sephiroth directly what's going to happen. First of all, when you submit this data, it's not your mnemonic key phrase. So your if is safe, right? Because you don't ever want the server knowing your private key phrases. So your key phrase is safe. So you don't have to worry about that. This is just for the server itself. So it's a different set of keys. And even if you unlock it, even if they see everything, they're not going to be able to touch your funds. This is absolutely core, right? Not your keys, not your crypto. They don't get to touch your funds. So one of the biggest risks that you run, and they were very transparent about this, is that if something does screw up on their end, and you get slashed, which is, you know, that's never happened to me. And they are, they got this done, like, perfectly. That's your biggest risk of the slashing. So they're not going to be able to steal your funds, which is a big one, right? You never want to allow anyone to be able to steal your funds. And which is what's the whole point of doing this in the first place, right? If you want to go through all these steps, and you want to do this properly, you don't want anyone ever being able to steal your fund. Now, a few things, right? So Lotus launch collecting data, how long is it going to take? What's going to happen next? I'm going to copy some of the data here. So I'm just going to go on to Beacon Chain. Beacon Chain. This is where you can browse everything. And I'm going to just post that address in. So you can see that I made the deposit. So if you look at it, they actually show you the data, right? So this is my public key. I just posted it. And it's also basically the address of the account. I'm going to be transparent here. There's no point hiding. I think pretty much revealed everything to everyone at this point. This is the ledger that address that I used. This is the transaction for the deposit. Yet again, it has a valid signature. I want to look at the validator key a little bit more. You can see the deposit is here and it's now on pending. You guys actually have to wait a few days. So right now, if you look at the deposit size of this, the deposit was made seven minutes ago, but it does take at least 12 hours to be processed by the Beacon Chain and for everything to go. All right, guys. So now this is around a week after this node has been set up. And you can see that the deposit on Ethereum 2.0 has already been made. So we saw ETH one deposit been made. ETH two deposit has also been made. Now we're waiting for this activation. The activation does take some time. So roughly speaking, for me, it's going to take around two more days to activate. Now, that does mean there's going to be a lot of waiting, but it is how it is. It's around roughly 10 days to activate your node. So you just have to be a little bit patient there. And I'll give you a further update on my channel, how this node goes. On the all node side of things, everything is done already, right? So we set up everything, all systems are go, and we just have to wait for activation. The server here is actually online 24 hours waiting for activation. So I don't have to do or touch anything there. And in terms of what all nodes is doing, they're taking care of all the node upgrades for me as well. So at the end of the day right now, so technically at this stage, all I have to do is once in a while, I'll just check if my node is active and that's it. And then once it's active, I just sit there and count the ETH pretty much. And with that guys, that takes you through the entire process of setting up your Ethereum 2.0 node. If you did enjoy this video and you did learn something, please do share it. If there's friends that you are, they're talking about running an ETH 2 node, they want to make some passive income on the side, check that out. Send them this video. It really does help people understand what's going on. And I really hope this was very informative with you. If you do want to sign up for all nodes, they also have services for other nodes. Like you can host your Bitcoin node, Ethereum 2.0 node, and host Avalanche node if you're into that, or your Zcoin or Fero node. Yeah, lots of nodes you can host up there for pretty much cheaper than Amazon. So if you want to do that, there is a link down below and click on that link. It is a referral link. It does help support the channel. So with that guys, thank you guys so much for watching today's video. And I hope you learned through the process. Thank you guys for watching. See you next time.