Withdrawal credentials

পৃষ্ঠাটি সর্বশেষ আপডেট করা হয়েছে: ২২ জানুয়ারী, ২০২৬

Every validator has a withdrawal credential that determines how and where their staked ETH and rewards can be withdrawn. The credential type is indicated by the first byte: 0x00, 0x01, or 0x02. Understanding these types is important for validators managing their stake.

0x00: Pre-Shapella credentials

The 0x00 type is the original withdrawal credential format from before the Shapella upgrade (April 2023). Validators with this credential type have no execution layer withdrawal address set, meaning their funds remain locked on the consensus layer. If you still have 0x00 credentials, you must upgrade to 0x01 or 0x02 before you can receive any withdrawals.

0x01: Legacy withdrawal credentials

The 0x01 type was introduced with the Shapella upgrade and became the standard for validators who wanted to set an execution layer withdrawal address. With 0x01 credentials:

Any balance above 32 ETH is automatically swept to your withdrawal address
Full exits go through the standard exit queue
Rewards above 32 ETH cannot compound—they are periodically swept out

Why some validators still use 0x01: It's simpler and familiar. Many validators deposited after Shapella and already have this type, and it works fine for those who want automatic withdrawals of excess balance.

Why it is not recommended: With 0x01, you lose the ability to compound rewards above 32 ETH. Every bit of excess is swept away automatically, which limits your validator's earning potential and requires managing withdrawn funds separately.

0x02: Compounding withdrawal credentials

The 0x02 type was introduced with the Pectra upgrade and is the recommended choice for validators today. Validators with 0x02 credentials are sometimes called "compounding validators."

With 0x02 credentials:

Rewards above 32 ETH compound in 1 ETH increments up to a maximum effective balance of 2048 ETH
Partial withdrawals must be requested manually (automatic sweeps only occur above the 2048 ETH threshold)
Validators can consolidate multiple 32 ETH validators into a single higher-balance validator
Full exits are still supported through the standard exit queue

Both partial withdrawals and consolidations can be performed via the Launchpad Validator Actionsopens in a new tab.

Why validators should prefer 0x02: It offers better capital efficiency through compounding, more control over when withdrawals happen, and supports validator consolidation. For solo stakers who accumulate rewards over time, this means their effective balance—and thus their rewards—can grow beyond 32 ETH without manual intervention.

Important: Once you convert from 0x01 to 0x02, you cannot revert back.

For a detailed guide on converting to Type 2 credentials and the MaxEB feature, see the MaxEB explainer page.

What should I pick?

New validators: Choose 0x02. It's the modern standard with better compounding and flexibility.
Existing 0x01 validators: Consider converting to 0x02 if you want rewards to compound above 32 ETH or plan to consolidate validators.
Existing 0x00 validators: Upgrade immediately—you cannot withdraw without updating your credentials. You must first convert to 0x01, then you can convert to 0x02.

Tools for managing withdrawal credentials

Several tools support choosing or converting between credential types:

Ethereum Staking Launchpadopens in a new tab - The official tool for deposits and validator management, including credential conversions and consolidations
Pectra Staking Manageropens in a new tab - Web UI with wallet-connect support for conversions and consolidation
Pectra Validator Ops CLI Toolopens in a new tab - Command-line tool for batch conversions
Etherealopens in a new tab - CLI tool for Ethereum operations including validator management

For a complete list of consolidation tools and detailed conversion instructions, see MaxEB consolidation tooling.