Here is a step-by-step guide on how to get started with Keyless Wallet on the Bybit app.

• Create a Keyless Wallet

  • If you have not connected to any Wallet to Bybit Web3

  • If you have connected a Wallet on Bybit Web3

• Back up your Keyless Wallet

• Import your existing Keyless Wallet

• Reset your Wallet Password

Create a Keyless Wallet

1. If you have not connected to any Wallet to Bybit Web3

Step 1: Open your Bybit App and log in. Your App version needs to be v.4.33.0 or higher.

Step 2: Go to Web3, and tap Create a Bybit Wallet → Keyless Wallet to create your Keyless Wallet.

 

Ethereum Proof of Stake (PoS) is a consensus mechanism that determines who validates the next block, according to how many Ethereum tokens they hold and are willing to 'stake' as collateral. To become a validator in the Ethereum network, one is required to stake a minimum of 32 ETH. However, this process involves not only a substantial financial commitment but also requires robust hardware equipment and additional assets to cover node operation costs. There are also inherent risks involved, such as slashing and liquidity risks associated with unstaking queues.

 

Recognizing these challenges, Bybit introduced its ETH 2.0 liquid staking service. This innovative solution simplifies the staking process by allowing users to participate with as little as 0.1 ETH. With Bybit handling the minting process, users are spared from dealing with on-chain activities and gas fees, making Ethereum staking more accessible to broader traders.

 

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Benefits of ETH2.0 Liquid Staking

Liquid staking protocols have significantly contributed to the widespread adoption of Ethereum staking by providing a more adaptable and accessible alternative to traditional methods. Here are the primary advantages:

 

Enhanced Liquidity: Liquid staking preserves the liquidity of assets, enabling users to trade or participate in DeFi activities without locking up their funds.

 

Accessibility and Reduced Entry Barriers: Liquid staking allows users with less than (the minimum required) 32 ETH to join staking, encouraging broader network participation.

 

 

 

 

 

 

 

 

Benefits of ETH2.0 Liquid Staking

Liquid staking protocols have significantly contributed to the widespread adoption of Ethereum staking by providing a more adaptable and accessible alternative to traditional methods. Here are the primary advantages:

 

Enhanced Liquidity: Liquid staking preserves the liquidity of assets, enabling users to trade or participate in DeFi activities without locking up their funds.

Accessibility and Reduced Entry Barriers: Liquid staking allows users with less than (the minimum required) 32 ETH to join staking, encouraging broader network participation.