Ledger Live is a fast paced, growing company developing security and infrastructure solutions for cryptocurrencies as well as blockchain applications for individuals and companies, by leveraging a distinctive, proprietary technology.
What is Lido?
Lido is a liquid staking solution for ETH backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – whilst participating in on-chain activities, e.g. lending.
Lido attempts to solve the problems associated with initial ETH staking – illiquidity, immovability and accessibility – by making staked ETH liquid and allowing for participation with any amount of ETH to improve security of the Ethereum network.
How to stake ETH with Lido?
Install the Lido app on your Ledger device
- Open Ledger Live and navigate to My Ledger tab.
- Connect and unlock your Ledger device.
- If asked, allow My Ledger to access your Ledger device.
- Search for the Lido app in the app catalog.
- Click the Install button to install the app on your Ledger device.
- Your Ledger device displays Processing.
- Ledger Live displays Installed.
Stake ETH with Lido in Ledger Live
- In Ledger Live, navigate to the Accounts tab.
- Select your Ethereum account with ETH you want to stake.
- On the top-right corner, tap Stake button.
The Lido app opens in Ledger Live. - Select the amount of ETH you wish to stake then click Submit
- Select preferred fees then click on Continue
- Sign the transaction on your Ledger device.
Once the transaction clears you will receive an amount of stETH equivalent to the amount of ETH staked.
Can I unstake my ETH?
- No, it’s not currently possible to unstake ETH that has been staked in the staing contract.
- However, you currently have the option to swap your stETH balance back for regular ETH. This achieve the same results as “unstaking” your ETH.
- You can swap stETH for regular ETH using the Paraswap app in Ledger Live.
- To add stETH to Paraswap, navigate to the Pay field, click the coin ticker to open the dropdown menu, select Manage Token Lists and activate all the available token lists.
- Once all the lists have been activated, type stETH in the search bar and click on the stETH icon to import stETH as a swap option. You can then proceed to swap stETh for ETH.
- You can learn more about how to use Paraswap.
Lido available in Ledger Live: bringing Ethereum staking within your reach.
How do you claim your staked eth back 😬😬
How to you convert back to ETH when you want to un stake please?
let's say I put my eth in lido and got steth 1:1. Can I sell steth usdt then buy eth again and put it in lido? and do it all the time?
After merge is it something changing? Will be able staking without using lido and just with our ledger or will we need minimum 32eth?
how u unstake?
we not run your own validator ?
how can you unstake from lido???
Be aware, ETH is close to merge with the Beacon Chain, that will make possible the swap from stETH to ETH
Hello sir. I have staked ether on lido . When i enter lido rewards i see in the type section rewards as i scroll down i see rewards and the interest i have gain on 4 of the transaction i see staking with no rewards only in the change section i see the amount when i tap on the staking it takes me to etherscan and it shows the status success. Why is not giving me rewards would appreciate you explaining or if i have done an error. Thank you
Comments are as valuable as the information in the video as it shows the real experience of those who tried. Watching the vid made me almost click immediately on the Stake button, but reading the comments about stETH being blocked made me think twice.
Great content, adapted to newbies, but also contains technical stuff, love the pace, keep up the great job 🙂
staking seems to be a huge gimmick, hard pass for me
Im not 100% sure I got it right so please correct me if I misunderstood something. First thing cme to my mind was that you get the same amount in stEth for your Eth. But current price is 1Eth = 0.95 stEth. So you immeditly make 5% loss with an annual interest in staking of 4%, plus you have risk Lido gets wrecked somehow, plus you pay the transaction fees for swapping from Eth to stEth and later from swapping back from stEth to Eth. So bad deal imo!
great video. well explained. helped me a lot.
Any update about the topic?
Thisbis very useful. Thank you so much!
Thanks for your sharing !
Best explaining of ths thank you verry much
Good stuff. This however is a very expensive way to stake. In essence you are selling your eth and buying bEth. The cheapest place to do this is in Binance. You can buy bEth at a discount if you're lucky
Thanks Rex!
Best video I've seen on this. Thanks for explaining the less obvious risks, limitations, processes, etc.
Does anyone know if you can unstake your eth ?? And if so how ? Or when we will be allowed to unstake ?
What stops me from staking 10 ETH, get 10 stETH which I swap for 10 ETH, stake that 10 ETH again and now I would get stETH rewards from 20 ETH instead of 10?
how can you sell your st eth on exchanges Imediately?
Crypto dad is the best on the internet. I've learned more from this guy than anywhere else.
Has anyone worked out on how to Unstake these ETH… I don't even see the StETH under Accounts=>ETH
I don't know.. It only pays around 3% APR. You can't pull it for a year and a half. Then when you cash out there's a 10% fee off the top. Hmm.. Im not sold.
Say i stake 1 eth for 1 steth then trade my steth for an eth then stake my second eth wont i have 2 eth staked .and just do this forever.
Cryptodad, I'm waiting for your review on Liquid staking on StaFi, please I need your opinion.
Will i get reward daily or i will get all profit when i unstake?
Thank you. super calm, simple but helpful video