Staking in the Trezor Suite (up to 2.87%) - Is it worth doing?

[m2017]

A persistent pop-up message in the Trezor Suite piqued my curiosity and stirred up my greed. I wondered: why were my ETH just sitting idle instead of working - generating new money? That didn't seem right. So, I decided to look into the details of the staking terms on offer.

The first thing that surprised me a bit (though actually, it didn't) since this is standard practice for disclaiming liability, is that Trezor shifts all responsibility onto Everstake; in my view, this seems somewhat unfair to their users. If you offer third-party services within your ecosystem (advertising in Trezor Suite), then you are undoubtedly also (partially) responsible for any negative consequences your users might encounter. Otherwise, simply don't offer services from third-party companies (Trezor is undoubtedly profiting from this integration, isn't it? Which means it is profiting from its users who have utilized Everstaking.)

Next, I began to look into the staking terms.

I decided to calculate what the return would be.

Look at it this way: can earn 0.00002 ETH \ $0.50 (this figure may vary depending on the ETH's market rate, but even assuming a doubling in the cost, it would amount to just $1.) on every $100. To me, that seems amusing (well, actually, not really), because by handing over $1,000 to someone else, you only get back 0.00088 ETH \ $2.34 a month. The benefit is questionable, and risks are disproportionate.

Of course, it would have been a red flag if the yield were significantly higher (it would have smacked of a scam), and I assume the staking returns are quite modest.

Having to wait 10 days (or longer?) to withdraw my funds from staking? But what if I need them quickly?

Staking terms: https://trezor.io/guides/sending-receiving-staking-funds/staking-assets-in-trezor-suite/staking-ethereum-eth-in-trezor-suite

"Unstaking from a pool can be done at any time. Where possible, ETH is unstaked instantly when funds are entering and leaving the pool at the same time. For example, if you unstake 5 ETH and 1 ETH is available, you receive that 1 ETH right away and wait for the remaining 4 ETH."

The question is, just how long should one wait?


Anyway, I gave it some thought, and caution won out over greed. I’d rather keep sole control over my meager ETH (crypto) holdings (since staking involves sending your funds to third parties). So, instead of Everstake, I chose Neverstaking.

Now for the question: do any trezor users stake their crypto assets? Would you agree to stake for 0.00002 ETH \ $0.50 per week (the figure will vary depending on the amount of your assets.)?

[Pmalek]

I have never taken a deeper look at staking platforms nor do I intend to. It usually involves handing over your coins to someone else with a promise that you will get them back plus some interest on top at one point in the future. I would rather keep them myself and without the promised yield. I know that there is such a thing as non-custodial staking. If it is how it sounds, then that's perhaps the only option I would look into.

Whenever I hear staking or investing in crypto platforms, I remember the failures of Celsius, Voyager, and several others. No thanks.
So many things can go wrong. The platform playing with user assets and investing them without their knowledge as we have seen in the past. Hacks, smart contract vulnerabilities, exit scams, etc.