[the_gastropod]

I doubt it will push a significant chunk of these users to self-custody. Self-custody is significantly more complicated than leaving assets on an exchange—which is why most people don't do self-custody. I'm sure this will drive some to self-custody. But I don't imagine it'll be a very large percentage.

[rhodorhoades]

Is it tho? A MetaMask wallet staking directly with the protocols/ yield aggregators is easier than creating a kraken account and doing KYC verification.

[tick_tock_tick]

> A MetaMask wallet staking directly with the protocols/ yield aggregators is easier than creating a kraken account and doing KYC verification.

It's not easier at all which is why people don't do it....

[rhodorhoades]

self custody vs. centralized exchange data would be relevant here. Instead of just saying “people don’t do it”. Because people do… and I would venture to say more people do it than keep their coins on a centralized exchange.

[BitwiseFool]

That may indeed be "easier", but self-custody requires a high level of confidence in your own ability to set things up properly and securely. And equally high confidence that your machine and wallet won't be compromised. I'd also say that getting to that point is difficult, unless someone is willing to play around with a test-net and not learning with their real balance.

There's definitely an appeal when it comes to having an exchange manage this all for you, even when they take a fee for doing so.

[TimJRobinson]

You can also just buy and hold a token like rETH too. This token gives you rewards from a decentralized staking network automatically.

Holding a token on a hardware wallet is very easy to do these days.

[ahtihn]

How do you get the coins to stake in the first place without creating an account and doing KYC verification?

[rhodorhoades]

This may come off as… impractical… but I don’t understand why.

The best way to obtain coins without going through KYC is by using the protocols. The most cost effective is running a filecoin node but there are thousands of ways of getting coins by participating in the ecosystem.