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.
