Ledger Staking
Ledger Staking allows you to earn interest on your crypto directly on your Ledger. Staking on Ledger allows you to earn interest, secure your crypto, and maintain full ownership. In this article you will learn how to earn staking rewards with Ledger.
Staking On Ledger
A Ledger hardware wallet is one of the best things a cryptocurrency owner can get for themselves because it is the only way that you can be 100% sure that nothing will happen to your funds. The reason it’s so safe is because even if someone finds out any of your account information for any wallets linked to your Ledger hardware wallet, they wouldn’t be able to transfer out your crypto because any transactions must be confirmed on the physical Ledger hardware wallet device itself. As long as you keep your recovery phrase safe, your crypto will always be safe.
Ledger supports staking on its own platform and there are also many software wallets for certain cryptocurrencies that allow pairing with a Ledger hardware wallet for added security, so if you care about safety and security, a Ledger hardware wallet is a must have.
Ledger Supported Cryptocurrencies
Not all cryptocurrencies can be staked to earn interest. Furthermore, even if a cryptocurrency can be staked, the exchange or wallet may not provide staking rewards for that cryptocurrency. While there are many software wallets for other cryptocurrencies that can pair with your Ledger, Ledger natively provides staking rewards for the following 5 crypto.
Tezos | Tron | Cosmos | Algorand | Polkadot
- Click the links for guides on how to stake the cryptocurrency.
How To Earn Staking Rewards on Ledger
Ledger staking rewards are earned in different ways depending on the cryptocurrency. For example, Algorand is one of the simplest cryptocurrencies to stake on Ledger because all you need to do is hold it in your wallet and it will automatically start generating interest and you just need to manually claim the staking rewards. Polkadot, on the other hand, is a little more complicated because after you transfer it into your account, you will need to go through the process of choosing a validator to stake with.
Regardless, all you need to do is transfer the supported crypto into your Ledger wallet and click on the crypto in your accounts tab. There will be an “Earn rewards” button for cryptocurrencies that require extra steps to start staking and it will do a decent job explaining what to do. Just note that some cryptocurrencies, not just on Ledger, have rewards that must be manually claimed while the rest will be automatic.
Final Thoughts
Owning a hardware wallet is recommended if you are a serious cryptocurrency investor, and Ledger is the best hardware wallet to get if you want to earn staking rewards. Earning Ledger staking rewards is relatively easy and you can also link various other cryptocurrency’s software wallets to your Ledger hardware wallet for added security.
Earn Staking Rewards with Ledger Staking. Staking on Ledger is safe and easy. Check out the supported cryptocurrencies on Ledger. Visit Crypto Staking Rewards to learn how to stake crypto, earn staking rewards, cryptocurrency staking benefits, and where to find the best staking rewards.
