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Your ethereum will be safe on your hardware wallet through the merge.
The Ethereum hard fork, known as “the Merge”, has taken place, resulting in a new version of Ethereum that uses proof-of-stake mechanics to validate transactions. If you use a Trezor hardware wallet to secure your ether, you don’t need to do anything to start using the upgraded network.
There may be unforeseen issues with the network following the fork, so it is safer to avoid signing transactions until the network is deemed stable.
What is the merge?
The merge is an event that introduces a new version of the Ethereum network. It is intended to replace proof of work with proof of stake. Proof of work is a process where individual mining nodes expend energy to produce the blocks that add transactions to the blockchain. Proof of stake replaces miners with nodes that pledge their ether in order to be chosen to create blocks from pending transactions.
What happens to your ether during the merge?
You did not need to do anything to prepare for the merge. The new version of the network is a copy of the old one, so any ether secured on your wallet before the merge can be found in the same place. The Ethereum nodes connected to Trezor Suite have already been updated to support this new version. Now that the merge has taken place, you can continue to use your wallet as normal.
As a user or holder of ETH or any other digital asset on Ethereum, as well as non-node-operating stakers, you do not need to do anything with your funds or wallet before The Merge.
Any funds held in your wallet before The Merge will still be accessible after The Merge. No action is required to upgrade on your part. — Ethereum.org
Stay safe and vigilant
Scammers are especially active during major network upgrades. Do not engage with anyone who claims you need to take urgent steps to protect your coins for the merge, you do not need to do anything if your coins are secured in a Trezor. Never share your recovery seed with anyone, not even Trezor support.
Can I stake ether in Trezor Suite?
Staking will not be supported in Trezor Suite immediately following the merge. Support for Ethereum staking is anticipated but no date has been fixed for its release.
Will I have twice as much ether after the merge?
The proof of work chain will continue to exist in some form, along with any ether you held before the merge. You will not be able to interact with the pre-merge proof of work coins using Trezor Suite, but you can still use your Trezor hardware wallet with a third-party interface like MetaMask to access the older version of the blockchain.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.