nano ledger - staking?

[Rufus29]

I put some ETH, ETC, LINK, DOT, BNB and MATIC on my ledger. Is there a way to generate a passive income for these if I keep them on my ledger?

[1715159368]

1715159368

[1715159368]

1715159368

[1715159368]

1715159368

[Strongkored]

I've never done it because I don't think staking is profitable, but it could be profitable if you consider it for long-term hold while waiting for time to sell there's nothing wrong with staking and I googled and found this https://www. ledger.com/staking-ethereum and you can learn it yourself
it's just that be careful when connecting your wallet which contains valuable coins for staking so that you don't get hacked.

[blockman]

It's only ETH that you can stake through Ledger. Check what are the other supported coins and details they have for staking through their website.
(https://www.ledger.com/staking)

Well, I'll list it for you.

ETH
Osmosis
Algorand
Polkadot
Solana
Tezos
Tron
Cosmos

[Rufus29]

thanks. why do you guys think staking isnt profitable? I guess because you cant sell whenever you want? I do intend to hold the coins for longer

[cryptoaddictchie]

I put some ETH, ETC, LINK, DOT, BNB and MATIC on my ledger. Is there a way to generate a passive income for these if I keep them on my ledger?

I think most of the tokens can be staked through out their ledger but needed to connect to a secondary dapp that supported nano ledger. Cause Ive seen some doing that, using staking on their tokens even inside their ledger.

[nimogsm]

thanks. why do you guys think staking isnt profitable? I guess because you cant sell whenever you want? I do intend to hold the coins for longer

Everyone decides for himself whether it is profitable or not.If you are going to store for a very long period of time, it is worth taking the risk.But look at other providers,their reawards may be higher than in this wallet.Use : stakingrewards.com
In any case, good luck to you.

[Jawhead999]

If you want to stake those token in more safer place, you can use Ledger Live that linked with the above member.

If you want to stake those token in risky place where you only want to get high interest, also you're accept to lose all of your token due to hack or vulnerability, you can use Dapp.

thanks. why do you guys think staking isnt profitable? I guess because you cant sell whenever you want? I do intend to hold the coins for longer

Not really, in ledger Live you can unstake your token at any time as long as the blockchain protocols doesn't have strict rules or some requirement to unbouding period for unstacking.

You can unstake your crypto whenever you want in Ledger Live. However, some blockchain protocols require an unbounding period for unstacking and withdrawal, others do not. Do your own research before staking your crypto.

[Crypt0Gore]

I'm never going to do this with my hardware wallet because it's not worth it, I will prefer using my hot wallet like trust wallet or atomic wallet .

I said it's not worth it because staking isn't profitable in a bear market unless you are already a rich person, you will stake for a whole year to earn 7% to 15% of your asset, really? Something you can earn doing buying and selling on exchange.

[Rufus29]

If you want to stake those token in more safer place, you can use Ledger Live that linked with the above member.

If you want to stake those token in risky place where you only want to get high interest, also you're accept to lose all of your token due to hack or vulnerability, you can use Dapp.

thanks. why do you guys think staking isnt profitable? I guess because you cant sell whenever you want? I do intend to hold the coins for longer

Not really, in ledger Live you can unstake your token at any time as long as the blockchain protocols doesn't have strict rules or some requirement to unbouding period for unstacking.

You can unstake your crypto whenever you want in Ledger Live. However, some blockchain protocols require an unbounding period for unstacking and withdrawal, others do not. Do your own research before staking your crypto.

you're talking about a risk, could you elaborate? Whats the downside to staking coins? I mean I'm using a nano ledger device, there shouldnt be any risk in doing this, or? I do realize that it takes some time to unbound staked coins but I'm planing to hodl for at least a year or so, so there shouldnt be any risks, right?

[blockman]

thanks. why do you guys think staking isnt profitable?

I'm not saying it isn't profitable. It is profitable in a manner that the more capital or money you stake, the more satisfying profit you'll get from those percentages you see.
That's why you can already foresee how much you will likely earn from staking because of the APYs that are given for each of those coins. But, you have to remember that the market is volatile and if you're computing based on their $$$ value, it will eventually change.

I guess because you cant sell whenever you want? I do intend to hold the coins for longer

You can withdraw and sell anytime, as long as it's not a locked contract.

[zasad@]

I put some ETH, ETC, LINK, DOT, BNB and MATIC on my ledger. Is there a way to generate a passive income for these if I keep them on my ledger?

And why do you need it? Trading on the ledger is done through partners, and I wrote about cases where they got in big trouble because their assets were blocked. Also, learn about staking first. It is better to work directly with each project, and then you will have full control over your coins. I had to transfer the polcadot to another wallet because some of the functions in the ledger did not work when participating in auctions for parachains.

[Jawhead999]

you're talking about a risk, could you elaborate? Whats the downside to staking coins? I mean I'm using a nano ledger device, there shouldnt be any risk in doing this, or? I do realize that it takes some time to unbound staked coins but I'm planing to hodl for at least a year or so, so there shouldnt be any risks, right?

The risk is there's no guarantee you will get profit via staking and if there's a problem or hacked about the network of those coins you staked, ledger live doesn't care with that. Although you're still own your private key, but the risk is from the project, not from the ledger side. So make sure you're understand there's possibility you will lose your tokens when the hacker can find the vulnerability from the network.

5.3.5 No guarantee of Rewards. LEDGER DOES NOT GUARANTEE THAT YOU WILL RECEIVE STAKING REWARDS OR ANY STAKING REWARD RATES. SUCCESSFUL TRANSFER OF THE REWARDS IS SUBJECT TO THE PROOF-OF-STAKE NETWORKS AND IS NOT UNDER LEDGER’S CONTROL.

5.3.6 Disclaimer. Staking is provided “as is”. Ledger is not responsible in any way for any failure by any supported Proof-Of-Stake (POS) network to transfer rewards (including any risks of “slashing”) or for the loss, destruction, or transfer of rewards to the incorrect wallet address. Ledger does not guarantee uninterrupted or error-free operation of the staking services or that it will correct all defects or prevent third-party disruptions or unauthorized third party access.