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The ETH Merge: What Guarda Wallet Users Need to Know

The ETH Merge: What Guarda Wallet Users Need to Know

The crypto community has been waiting for the Ethereum Merge since it was announced in 2020. The merge is an important milestone for the second largest network in the crypto world since it will fully embrace the PoS consensus and let go of the PoW consensus, which uses so much energy. 

During the merge, the Ethereum mainnet (PoW chain) will integrate with the Beacon chain (PoS chain), launched in December 2020. The long-awaited merge is scheduled to take place on September 15. With the merge, it will be goodbye to miners and welcome stakers.

What Will Happen to the ETH in Your Wallet?

The quick answer is – nothing. Your ETH and other tokens remain on the blockchain where they have always been, on the same addresses. You can access it using your web, browser, mobile, or hardware wallet. Your keys and recovery phrase are still legitimate for wallet access and recovery. The Ethereum blockchain’s history is unchanged, and all previous blocks and transactions are still valid. 

What About Staking?

You can keep using Ethereum for your needs without staking any ETH. Staking, on the other hand, contributes to the network’s overall security because the more validators there are, the more decentralized and stable the network becomes. Furthermore, staking ETH is a simple way to receive passive crypto rewards, so it’s worth exploring.

However, if you already staked the ETH2, you can’t unstake it for the next 6-12 months after the merge until the Shanghai upgrade. Therefore, the recovery phrase or ETH2 Keystore file affiliated with the wallet you staked remains the withdrawal method for your Ethereum later.

Stay tuned for more news on the crypto world!
Guarda Wallet Team