Guide: Stake ETH with Lido using Ledger

Lido -

Users can now stake their Ethereum with Lido using Ledger Live crypto app!

 

Lido is a liquid staking solution that allows stakers to participate with the DeFi ecosystem whilst staking their Ethereum on the beacon chain. This is done through the use of Lido’s stETH token, a liquid variant of staked Ethereum that rebases daily to reflect staking rewards.

 

Users can use their stETH in a variety of DeFi protocols.

 

Ledger wallets are hardware wallets that allow for secure storage of cryptocurrencies. Hardware wallets guarantee a sense of security, mitigating risks associated with other wallets that are vulnerable to malicious attacks. Do not share your private keys with anyone.

 

 

How to install Lido through Ledger Live crypto app

  1. Open the Ledger Live crypto app.
  2. Install the Ethereum app on your device.
  3. After installing, select “Add Account” and “Continue”.
  4. After synchronizing, select “Add Account” and select “Done”.
  5. Go to the “Discover” tab in the Ledger Live crypto app menu (on the left) and install “Lido”.

 

Steps 1-4 are unnecessary if you already added an Ethereum account.

 

How to stake with Lido

  1. Once you are at the Lido staking page in Ledger Live crypto app, input the amount of Ethereum you would like to stake.
  2. Select “Submit”.
  3. Choose your preferred fees. The lower the fee, the slower the transaction will process. Select “Continue”.
  4. Sign the transaction on your Ledger.

 

Please note, rewards are displayed as daily balance changes, and not as incoming transactions.

 

How to unstake using ParaSwap or Curve

1. Unstaking with ParaSwap

  1. Go to the “Discover” tab in the Ledger Live crypto app menu (on the left) and install “ParaSwap”.
  2. After installing, open the app.
  3. Under “Pay”, change the token to “STETH” by “Importing” the token.
  4. Under “Receive”, change the token to “ETH”.
  5. Select “Swap” and change the settings to your preference.
  6. Select “Confirm Order”.
  7. Approve the first transaction.
  8. After approving the transaction, a prompt will appear to finalize the transaction.
  9. After finalizing, you have successfully swapped stETH to ETH.

 

2. Unstaking with Curve Finance

  1. Head over to the Curve stETH/ETH pool.
  2. Connect your wallet.
  3. Input the amount of stETH you would like to swap to ETH.
  4. Select “Sell”.
  5. Approve the first transaction.
  6. After approving the transaction, a prompt will appear to finalize the transaction.
  7. After finalizing, you have successfully swapped stETH to ETH.

 

Moving Forwards

We are grateful to Ledger for this integration which allows hardware wallet users to easily and efficiently stake their Ethereum with us in a secure manner, in turn expanding the scope of staking to a greater audience.