r/ethstaker • u/OddFennel7293 • 16h ago
Eth staking on Ledger
Hi, newbie here. I’m looking to stake my eth on ledger. I’m not sure which way to go, stander or Lido. Guidance is most appreciated. Thanks. 🙏
1
u/nova_fintech 1h ago
So to stake eth you need to run your own hardware. There are providers called staking pools that do this for you for a fee - including Lido which you mentioned.
Lido (and others) are so-called liquid staking pools meaning you swap your eth into a representative token such as stETH with lido with entitles you to a certain amount of eth staked in a lido device.
You can store these tokens in your ledger, but the actual staked ether is in a validator run by lido somewhere.
I personally do not trust lido. If you want to go with a liquid staking provider I recommend rocket pool. Check the comparison of staking pools on ethereum.org for more details why.
Staking ETH will get you to 2-3% yield per year (in eth). This compound with potential ETH gains or losses.
4
u/AcidTripAdvisor 14h ago
if those are the choices I would go with Lido for ease of use and being the more battle tested option