Set Withdrawal Address
Last updated
Last updated
The Withdrawal Address:
Is an Ethereum address owned and controlled by you.
Receives the regular partial withdrawals - "skimming" of rewards above 32 ETH from your validator. If you have been receiving these partial withdrawals, your Withdrawal Address has been set and there is nothing left to do.
Receives the final full withdrawals - when you exit your validator.
You have the option to set the Withdrawal Address in the following ways:
Initially during the process. If you used the Wagyu Key Gen software, you had the opportunity to set the Withdrawal Address and include it in the deposit data file when making the ETH deposit.
At any later time using tools like AVADO's Withdrawal Address Tool: We will discuss the use of this tool in this section.
The Withdrawal Address can only be set once and cannot be changed. You can verify the status of your Withdrawal Address by visiting your Validator Page on the beaconcha.in website and checking under the tab. Once a Withdrawal Address has been set, you should see withdrawal credentials that start with 0x01.
Navigate to the DappStore and locate the DApp named ETH Withdrawal address tool and click Install.
Click Open from the Home Page to start the DApp.
If you have validators that need their withdrawal address set, they will show up in a table.
If all your validators are configured, you have nothing left to do.
At the bottom of the page, the wizard lists all your validators. You can click them to see more info on your validator on the beaconcha.in website.
If you have validators that need to have their Withdrawal Address set, click Set withdrawal address.
Is it safe to enter your mnemonic here?
You always have to be careful when entering a mnemonic! The mnemonic serves as a complete access key to your validator, so it must be handled with utmost care.
AVADO uses a secure connection (Wi-Fi or Zerotier) between your browser and your AVADO device. However, make sure that no one is looking over your shoulders. We also recommend disabling browser extensions or using your browser's incognito mode to minimize potential risks.
The best way to select your withdrawal address is to connect your wallet. AVADO recommends to use a hardware wallet, but any Ethereum wallet works.
Please think carefully which address you use! You can only set this address once. You cannot change it later. If you lose the private key of this address, your validator’s deposit and rewards are lost forever.
Warning: Do NOT use an exchange address!
Using an exchange address as your Withdrawal Address for staking is extremely risky. Most exchanges are not equipped to handle Ethereum staking rewards and withdrawals. As a result, you will likely face significant challenges or even be unable to retrieve your deposit and rewards.
You can also toggle the manual input button to enter a manual address. This field supports ENS names, but please make sure you make no typos! Check and double check the address.
Review the information and review the information again.
If you are 100% sure, click the confirm button.
If you have multiple validators, repeat the process for each of your validators.
Enter your 24-word secret recovery phrase, which you obtained from the process. The tool will automatically check if it corresponds with your validator.
You can verify the status of your Withdrawal Address by visiting your Validator Page on the beaconcha.in website and checking under the tab. Once a Withdrawal Address has been set, you should see your withdrawal credentials that start with 0x01. If you click on the link, it will bring you to your Withdrawal Address.
