How to Stake SOL Through Ledger Live
Solana is blockchain offering ultra-fast and cheap transactions. Solana’s vision is to create a decentralized network of nodes which match the performance of a single node. SOL is the native token on the Solana network and it’s easy to stake with Blockdaemon.
In this guide, we’ll be using a Ledger device to stake SOL. Note that the staking process is non-custodial, which means that you are in full control of your private keys.
Follow the steps below to stake SOL:
If you have already installed the Ledger Live desktop app, and if your account already has the amount of SOL tokens that you want to stake, you can skip steps 1-3 and go straight to Step 4. Otherwise, start at Step 1.
- Install the Ledger Live Desktop App
- Create an Account
- Buy or Receive SOL
- Stake With The Blockdaemon Validator
- Check Your SOL Rewards (optional)
Step 1 – Install the Ledger Live Desktop App
- Go to ledger live and download the app. The app is only available for desktop.
- Click the Download the app button and select your preferred version (Mac, Windows, or Linux). Follow the instructions on the screen to install the app.
- Open Ledger Live on your desktop, connect your Ledger device, and then find the Solana app on the device.
- If you don’t have the app installed on the Ledger device, click Manager in the left sidebar of the desktop app, search for Solana in the App catalog, and then click Install.
Step 2 – Create an Account
- Click Accounts in the left pane of Ledger Live, and then click Add account in the upper right corner.
- Open the Solana app on your Ledger device, and then follow the instructions on the device.
- In Ledger Live, enter a name for the account, click Add account, and then click Done.
- Click Accounts in the left pane of Ledger Live to see that the account is now listed in Ledger Live.
Step 3 – Buy or Receive SOL
To be able to stake SOL, you must have some SOL tokens in your account. You can either buy some or send some from another account.
- Click the Solana account, and then choose whether you want to Buy or Receive tokens. Note that the buying process varies depending on the Exchange you’re buying from. How you send tokens also varies depending on which Solana wallet you’re transferring the tokens from. Make sure you familiarize yourself with the process before buying or sending tokens.
- To receive tokens, you need the receiving address. Click Receive and follow the instructions on the screen and on your Ledger device.
- Verify that that address in Ledger Live is exactly the same as the address on your Ledger device, and then copy the address.
- When the process has completed there’s a message saying Address shared securely. Click Done.
Now that the account is set up and you have some SOL tokens in the account, you’re ready to stake with the Blockdaemon validator.
Step 4 – Stake With the Blockdaemon Validator
- Click Accounts in the left pane of the desktop app, click your Solana account, and then click the Stake button.
- There’s a message saying Earn rewards. Read the contents of the message carefully, and then click Continue.
- Click Show all to view all available delegators.
- Enter Blockdaemon in the Search field, select the Blockdaemon validator, and then click Continue.
- Enter the amount of SOL you want to stake (delegate to Blockdaemon), and then click Continue. You can’t stake all your SOL tokens because you’ll need some to pay for any future transaction fees including the staking transaction.
- Follow the instructions on your Ledger device to confirm the transaction.
- When you’ve completed all the steps, there’s a message saying that You have successfully delegated your assets. If you click View details, you’ll see the details of the transaction.
Step 4 – Check Your SOL Rewards
- Open the Ledger Live desktop app.
- Click Accounts in the left pane, and then click your Solana account.
- In the Delegation area you can view the status of the delegation. Note that it can take up to 3 days before the delegation becomes active. You’ll begin to earn rewards when the Status says Activated.
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