Staking rewards for ETH2 on Kraken are counted twice in the total balance

For my staked ETH on Kraken the total balance is too high.

I found out, that the difference is exactly the staking reward!

Looking at the history I can see that the staking reward actually consists of 2 transactions, one of type deposit, the other of type staking. Both have the staking amount.
My guess is, that due to the two lines the amount is added twice instead of once.

Below you can see a screenshot of the last staking reward in the history. The balance shown is the sum of the staking rewards and also the overhead in the total balance of my ETH.

What does it look like on the full data set once you import that information on Accointing?

Also consider this article: ETH 2.0 Staking Transactions - The Hub: Crypto and Bitcoin Tax Blog | ACCOINTING.com

Hi Matt, thanks for your response.

What does it look like on the full data set once you import that information on Accointing?

First of all, Accointing notices that the balance of ETH is wrong, see screenshot.
Accointing assumes that I have a balance of 2.03559109 ETH.

Hi Matt

I read the article you proposed.
When I first imported Kraken data I used this trick of defining ETH2 as ETH.
However, according to my latest experiments, Accointing is doing this now automatically.

Regards,
Ralf

1 Like

Hi,

It’s certainly working as expected for my wallet, as far as I can tell. I’ve added up the Accointing-shown incoming deposits to my Kraken account (from mining, Coinbase), and they add up to the amount in the Kraken “Staking Balance” column.

Then adding up the Accointing-shown staking rewards to my Kraken account, and they add up to the amount in the Kraken “Total Rewards” column.

i.e. For ETH2 on Kraken, as far as I can tell, staking rewards are not included in the Staking Balance.

This makes ETH2 a little different to other staking assets, but the reason for this would be that staking rewards are not automatically staked (but they’re not available for withdrawal either. Boo :/). This is mentioned in the Kraken ETH2 staking FAQ in the “Do staked ETH rewards compound…” question.

On the plus side, if I’m right then you’re about 1000 EUR richer than you thought you were :stuck_out_tongue:

2 Likes

Hi Wobble,

yes, you are right. I just verified, that the latest staking reward I got today only added up to the “Staking Rewards” column but not to “Staking Balance” and it also doesn’t show up on the Funding page.

Thanks for pointing out, that I’m about 1000 EUR richer than I thought :wink:

1 Like

Thank you Wobble for sharing this article :slight_smile:

1 Like

This topic was automatically closed after 5 days. New replies are no longer allowed.