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I want to stake Ethereum, How to do it safely, Does my Samsung block chain wallet work?

I assume this is the right place to post a staking question as staking is replacing mining for Ethereum. I was thinking of keeping half in Bitcoin and staking the other half in Ethereum (staking) just pure ETH not ERC20 tokens. My understanding is with my phone (and Samsung block chain wallet) my coin is kept in a hardware wallet which is more secure. If possible I'd like to use Samsung Wallet. If not, is there another phone app that will use the hardware wallet on my phone. If not how do you recommend I stake keep in mind something newbie friendly, and trustable is important? I should explain that I want to do this on an exchange. I have less than 32 ETH or whatever it was. Low cash out fees would be nice too. And the APY would be nice to optimize. But overall the biggest thing is I want to minimize the risk of losing everything. If the staking hosts (or whatever it was called) lose internet access/power do I the smaller staker lose everything? If so do they have redundancies in place? systems I'm not super experienced with crypto please excuse the beginner questions.

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1 hour ago, SussyAnon said:

understanding is with my phone (and Samsung block chain wallet) my coin is kept in a hardware wallet which is more secure.

First of all, you coin is always on the blockchain and never "in" a wallet. Wallets are a means to interact with (your fund on) the blockchain.

 

Secondly, while technically a hardware wallet (a device that stores your private keys), I would not consider your phone different from your computer. If you want to get a hardware wallet, I would get a proper one like a Ledger, Trezor etc. The risk of your phone is that it is still connected to the internet. With one of the former the keys are on a thumbdrive like device without internet connection.

1 hour ago, SussyAnon said:

If not, is there another phone app that will use the hardware wallet on my phone. If not how do you recommend I stake keep in mind something newbie friendly, and trustable is important? I should explain that I want to do this on an exchange. I have less than 32 ETH or whatever it was. Low cash out fees would be nice too. And the APY would be nice to optimize.

I've read that maybe MyEtherWallet can integrate with Samsung's stuff, but I don't use it so couldn't really say. I personally just use MEW and MetaMask by themselves. If you are on an exchange however, you are using their wallet and not your own. You also don't fully own the keys to that wallet (custodial wallet).

 

Which exchange are you using? Just look at their staking options and see if they offer ETH staking. The 32 ETH number is not important to you. That only matters if you want to set up your own Ethereum Validator node.

 

1 hour ago, SussyAnon said:

But overall the biggest thing is I want to minimize the risk of losing everything.

Well, you are investing in crypto... 😛

1 hour ago, SussyAnon said:

If the staking hosts (or whatever it was called) lose internet access/power do I the smaller staker lose everything? If so do they have redundancies in place? systems I'm not super experienced with crypto please excuse the beginner questions.

As I said above, your funds are on the blockchain, not in a wallet or a pool. As long as the network is operational and you have your private keys, you can interact with your funds. This is the reason you get a seed phrase when setting up a new wallet address. Those 24 words are used to generate your private keys and are they key (literally) to recovering your funds should you lose access to the device the current keys are on. NEVER EVER let anyone know those words. Not that rich Nigerian prince that'll triple your holdings, not customer service of an exchange or wallet provider. Nobody but you needs to know those words.

 

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