What is Lido Staked ETH (STETH)?
stETH (Lido Staked ETH) is part of the Lido decentralized staking service, offering a liquid alternative to Ethereum's traditional staking. Launched in 2020, stETH represents Ethereum tokens staked in Ethereum 2.0, allowing holders to earn staking rewards while maintaining liquidity.
The token enables users to participate in Ethereum's staking process without locking their assets or managing staking infrastructure. stETH can be used in various DeFi applications, offering flexibility and utility for staked Ethereum. This innovation provides a solution to the limitations of Ethereum's staking mechanism, enhancing the utility and accessibility of staked assets.
The token enables users to participate in Ethereum's staking process without locking their assets or managing staking infrastructure. stETH can be used in various DeFi applications, offering flexibility and utility for staked Ethereum. This innovation provides a solution to the limitations of Ethereum's staking mechanism, enhancing the utility and accessibility of staked assets.
Why choose Rabbit Wallet for Lido Staked ETH?
Whether you're a total crypto newbie or a seasoned pro, Rabbit Wallet's got your back for
handling your STETH with ease. Check out some cool features that make Rabbit stand out:
Exchange Lido Staked ETH (STETH)
With the Rabbit's built-in coin swap feature, you can exchange your Lido Staked ETH for
any other coin at the best rates without ever leaving the cozy confines of your
wallet.
Self-Custodial
With a self-custodial wallet, you control the keys to your Lido Staked ETH, meaning that
nobody, not even Rabbit, can ever access your coins. This also leads to faster
transactions with no third-party fees except for miners and increased flexibility.
Optimal Fees
The unique fee calculation algorithms provide you with various options when
available, allowing you to choose the most optimal one to ensure your transaction is
confirmed both swiftly and cost-effectively.
User-Friendly
We've worked hard to make Rabbit Wallet user-friendly for everyone. Packed with
features, it suits users at all levels, and our developers respond directly when
help is needed.
How to use Rabbit Wallet?
Creating a new wallet takes just a few clicks, and requires no information from you.
Here is a short brief on how you can create your new wallet:
Here is a short brief on how you can create your new wallet:
Save your phrase
You will be given a phrase, which will act as a primary key to your wallet. Save it
securely.
Set your password
Password is required to both open your wallet, and to perform any transactions.
You are in!
Now you are all set to explore the crypto world! Welcome to freedom!
Friendly tip: Having your passphrase on a sticky note under a keyboard might not be the best way to
store it.