Looking forward to ETH 2.0 launching, eToro now gives permission for Australian clients to stake in the system while collecting many rewards.

Clients of eToro online broker in Australia can now stake ETH 2.0 with the minimum amount to stake being 1 unit of ETH. Ethereum 2.0 is the latest innovation of the ETH network by using the Proof of Stake mechanism (not the current Proof of Work mechanism).

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eToro Money App

ETH 2.0 staking can be run on any crypto wallet inside the eToro Money app. For now, users who stake their ETH via the eToro Money crypto wallet will earn additional ETH during the staking process, however, only have access to the staked ETH and the accumulated rewards once the ETH 2.0 blockchain is official. Later, once the ETH 2.0 blockchain is launched, you will have access to the original assets and rewards.

eToro clients can transfer ETH from the eToro platform to the crypto tab in their eToro Money app. Please note that ETH transferred to the eToro Money app is non-transferable.

If you have ETH in an external wallet, please transfer it to your eToro Money wallet and stake it there. If it's available in your area, take advantage of the facility to buy ETH directly in your eToro Money wallet using Simplex. When you store other crypto assets in the broker's money wallet, you can convert them into ETH and stake them. The app will display the status of the ETH staked, along with the accumulated bet rewards.