Hello, now that the Shanghai upgrade is complete, I would like to convert my $BETH (+2.9%) into ETH and move them to my ledger. Only apparently the convert is not yet unlocked? Does anyone know when it will be possible?
Thanks a lot!
Hello, now that the Shanghai upgrade is complete, I would like to convert my $BETH (+2.9%) into ETH and move them to my ledger. Only apparently the convert is not yet unlocked? Does anyone know when it will be possible?
Thanks a lot!
I have something else in $BETH (+2.9%) . I haven't really found much on the internet about when these are converted to ETH 2.0. In principle 6-12 months after merge. Does anyone have something more concrete?
Thanks a lot and have a good start into the week.
---- edit ----
Shanghai upgrade should go live in February/March.
𝖡𝖤𝖳𝖧 - 𝖴𝗉𝖽𝖺𝗍𝖾
Let's have a quick update on staking on Binance.
For more context, see: https://app.getquin.com/activity/LLNxyCeneD
For me, the first reward came 2 days after I had the BETH in the account. Was then first unsure whether you have to exchange ETH 1:1 over the Stakepage itself. You do not have to. The information from when exactly you get the rewards I found a bit vague. But seems to be like other Binance offers that it is only counted from full days. Proportionally for the acquisition day there is nothing. The rewards come daily.
The APY I calculated myself, since this is not displayed. Come to about 4.8%
The time of the credit is not fixed, mostly between 9 and 11, outliers were once after 13 clock.
I find it a pity that you can not export the credit notes conveniently via csv. There is the option "generate all statements". This option can be exercised 4 times per month. So far I have simply copied the credit notes out as plain text and put them into table form via word processing. For tax purposes koinly seems quite good as the correctly calculated fiat value is recorded there.
Regarding entering on getquin: I will take 1x a month an approximate monthly average of the credit rate.
Select dividend.
Pieces = nominal amount Stake
Dividene Per Share = Rewards / Pieces
Then new entry, purchase the reward tokens with price at the time of the reward credit. If everything is done correctly, then the purchase cost is equal to the credit from the dividend entry.
Thanks to @stonksonlygodown for the tip with the correct booking on getquin.
BETH is a tokenized asset representing Binance user's staked ETH at a 1:1 ratio, with Binance distributing staking benefits in the form of BETH on a daily basis. During the lock-up period, which may take 2 years or even longer, users will not be able to redeem their ETH. As such, Binance have launched the BETH/ETH trading pair as our solution to this liquidity problem. When ETH 2.0 goes live, users will be able to swap their ETH back based on their BETH holdings.