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Ledger Solana Staking: How to do it step by step

LEDGER SOLANA STAKING: HOW TO DO IT STEP BY STEP

If you want to do Solana Staking in your Ledger keep reading. In this post we will explain the advantages and how to do it step by step to maximize your investment.

LEDGER STAKING SOLANA - SMITHII

HOW TO STAKE IN SOLANA WITH LEDGER

To make Solana Staking with the funds that we save in our Ledger we havetwooptions:

  1. Staking in the Ledger Validator
  2. Staking in another Validator

If you have doubts about which option is better, take a look at Solana Staking's Best Validators.

In summary, the Ledger validator is in the top 15 and has a 7% commission. In option 2, where we can choose a validator for the tutorial, we will use Melea, which is in the top 19 and has 0% commission (the process is the same as with any other validator).

Let's go straight to the step-by-step tutorial on how to make Solana Staking with Ledger.

SOLANA STAKING STEP-BY-STEP WITH LEDGER

Install the "Ledger Live" App on your PC.

LEDGER SOLANA STAKING - SMITHII

2. Login with your Ledger device

3. Create your Solana account in Ledger ("accounts" section in the left menu and "add account").

HOW TO STAKE SOLANA WITH LEGER - SMITHII

4. Send SOL to your Ledger (click on the "Receive" button, copy the address and paste it into the Exchange from which you send the SOL).

5. Participate with Ledger (click on the "Participate" button from your Ledger SOL account).

SOLANA STAKING WITH LEDGER - SMITHII

6. Selectyourvalidator (we can select the validator "Ledger by Figment" or click on show all and select another validator).

STAKING SOLANA THROUGH LEDGER - SMITHII

7. ConfirmStaking.

Once the Stake of our SOL has been confirmed, we can relax. We will be generatingreturns on each "epoch" (2-3 days) that will be automaticallyreinvested to get our APY with compoundinterest.

HOW MUCH CAN I EARN WITH LEDGER SOLANA STAKING?

We will obtain The estimated APY by Staking in Solana with Ledger at 7%.

In other words, we will obtain a return of 7% of the invested amount after approximately one year.

Of course, we canwithdraw the investedfundswheneverwe wish without losing the return already generated.

solana staking earnings - smithii

PROS AND CONS STAKING SOLANA WITH LEDGER

Staking Solana with Ledger has even more benefits than doing it without. Decide if it is worth it for you:

✅ SOLANA STAKING LEDGER BENEFITS

We generate returns

Automatic compound interest

We support network operation

Ledger fund security

❌ CONS LEDGER STAKING SOLANA

There are associated risks

We will lose liquidity*.

Risks per chosen validator

Losses if Solana depreciates

CONCLUSION

If we have Solana funds saved in our Ledger, Staking is an ideal way to generate passive earnings. Take advantage of it and generate as much APY as you can!

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