The Ethereum network is in the process of upgrading its blockchain. If you want to transact on Ethereum today, it’ll cost you anywhere from $10 to $100, depending on the type of transaction you want to perform. Due to Ethereum’s proof-of-work model, the network can only process about 15 transactions per second. The Eth 2.0 upgrade will improve both the cost and transaction throughput of Ethereum’s blockchain.

This upgrade to Ethereum will replace the crypto miners with staked Ethereum, a model known as proof-of-stake (POS). Anyone who owns Ether tokens can stake their tokens on the Eth 2.0 chain, and you can earn rewards for doing so. Currently, the interest rate equivalent of these rewards is about 7.5% annually. 

To run your own validator node, you’ll need 32 Ethereum tokens. However, cryptocurrency exchanges like Coinbase allow anyone to easily stake their Ethereum tokens with no minimum required.

Step 1: Make a Coinbase account.

If you don’t already have a Coinbase account, you’ll need to create one via the Coinbase mobile app. Signing up for Coinbase is a simple process –– all you have to do is enter your name, email, and location, then create a secure password.