how to add Lido Staked ETH to Coinbase wallet 2024

To add Lido Staked ETH (stETH) to your Coinbase Wallet, follow these steps:

What Is Lido Staked ETH?

Lido Staked ETH (stETH) is a tokenized representation of Ethereum (ETH) staked in the Lido protocol. By staking ETH with Lido, users receive stETH tokens in return, which represent their staked ETH balance plus staking rewards.

Steps to Add Lido Staked ETH to Your Coinbase Wallet

1. Ensure Your Coinbase Wallet App Is Updated: Make sure you have the latest version of the Coinbase Wallet app installed on your device.
2. Open Your Coinbase Wallet App: Launch the Coinbase Wallet app on your device.
3. Go to the 'Receive' Section: Navigate to the 'Receive' section within the app.
4. Search for Lido Staked ETH: Use the search function to look for Lido Staked ETH or stETH.
5. Select Lido Staked ETH (stETH): If Lido Staked ETH is supported, it will appear in the search results. Select it to access your stETH wallet address or QR code.
6. Copy Your Lido Staked ETH Wallet Address: Copy the wallet address provided or use the QR code for transactions.
7. Transfer Lido Staked ETH to Your Wallet: Use the copied address or QR code to transfer stETH from another wallet or exchange. Ensure you are sending it to the correct network.
8. Wait for Confirmation: Wait for the transaction to be confirmed on the Ethereum blockchain.
9. Verify Your Lido Staked ETH Balance: Once the transaction is confirmed, you should see your stETH balance reflected in your Coinbase Wallet.

Conclusion

Adding Lido Staked ETH (stETH) to your Coinbase Wallet allows you to conveniently manage your staked Ethereum and participate in Ethereum staking rewards through the Lido protocol. By following the steps outlined above, you can seamlessly integrate stETH into your Coinbase Wallet and enjoy the benefits of Ethereum staking.