Crypto Wallet Ledger Seeks to Make Ether Staking More Accessible

Crypto wallet Ledger will now allow users to stake ether through Lido directly on Ledger Live’s interface.

article-image

Source: Shutterstock

share

key takeaways

  • Lido gives users the chance to participate in ethereum staking without a set amount of ETH
  • Ledger already allows users to stake tokens like Tezos, Algorandm Cosmos and Tron

To some, cryptocurrency is about selling and buying assets in an effort to generate returns. 

Others have sought out staking tokens as a means to make passive income within the industry.  

Staking allows qualified users to earn monetary rewards by helping to make Ethereum’s blockchain more secure by committing to “save” their crypto in something similar to a term deposit. Ethereum staking requires a certain amount of ether to participate and a sizable investment into its infrastructure, leaving many unable to join in. 

Crypto wallet Ledger saw this dilemma and wanted to make staking more accessible by breaking down these barriers of entry.

“Staking Ethereum is quickly becoming the de-facto entry point into the world of lending within crypto,” Vice president of Transactions at Ledger Iqbal Gandham said. “Until now, staking had required investment in infrastructure, losing control of your crypto, or a lot of ETH (-32 to be exact).”

Ledger will now allow users to stake ether through Lido directly on Ledger Live’s interface, the company announced Friday.

In the past, to become a network validator, a user would have to have around 32 ETH. With Lido, users can participate without a set amount of ether tokens. 

“This model placed ETH staking out of reach for most of us. Lido’s integration onto Ledger Live establishes the solution and introduces ETH staking to a wider audience,” Gandham added. “Users can now simply plug in their nano and stake whatever amounts of ETH they have, whether it be 0.5 ETH to 100s of ETH, all in a secure, non-custodial manner!”

Ledger already allows users to stake tokens like Tezos, Algorand, Cosmos, and Tron through a consensus mechanism. 

Ethereum is trading at 3,217.84, up 5.8% according to CoinGecko.

Want more investor-focused content on digital assets? Join us September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket. Buy it now.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png

Research

Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.

/

article-image

Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space

article-image

Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?

article-image

Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month

article-image

It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet

article-image

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend

article-image

Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million