At the time of writing, there are two ways you can stake Cardano (ADA) using your Ledger Nano X hardware wallet. The first method involves using the AdaLite platform, while the second relies on Yoroi.
This guide will cover both methods in-depth with screenshots and less than ten easy steps to follow.
Cardano Staking
Cardano (ADA) is an open-source, decentralized blockchain platform with smart contract support, similar to Ethereum. Unlike Ethereum, however, Cardano started using proof-of-stake as its consensus mechanism very early.
Cardano staking is a way of earning rewards in the form of ADA for supporting the network’s infrastructure. Staking allows a blockchain network to remain decentralized by spreading out the transaction validation process over a large number of validators.
Locking up your ADA to a staking pool for a certain period of time is called delegation. The bigger the pool, the more likely it’s going to get chosen as a validator and earn better rewards for its users.
Ledger Nano X
Crypto hardware wallets have always had the reputation of being the safest crypto storage solution. That’s especially true when it comes to a well-known brand called Ledger.
Ledger Nano X is one of its best crypto hardware wallets. It allows you to store, secure, and manage over five thousand crypto assets. Not only that, but it also comes with NFT support.
Requirements
Before you proceed to read this guide, make sure that you meet the following requirements.
- You own a Ledger Nano X wallet.
- Your Ledger wallet has the latest firmware installed.
- Your Ledger wallet has the latest version of the Cardano app installed.
- You currently hold some ADA in your Ledger Wallet.
- You’ve connected your Ledger wallet to your computer and unlocked it with your PIN.
- The Ledge Live app is not open (as this can cause conflicts with the Yoroi wallet).
If you don’t meet one or more of these requirements, you won’t be able to complete the steps in this guide.
Steps to Stake Cardarno Using AdaLite
AdaLite is an open-source, client-side user interface that you can use to interact with the Cardano blockchain. You can use it to send, receive, and stake your ADA.
If you want to use Yoroi to stake your Cardano, follow our eight-step guide below.
1. Go to adalite.io
Open the adalite.io website in your browser. See the screenshot below for reference.
2. Select an access method
The website will offer three ways in which you can access a Cardano wallet. Pick the middle one labeled Hardware Wallet. See the screenshot below for reference.
3. Unlock the wallet
The website will list three different wallet models for you to choose from. Pick the middle one labeled Ledger Nano S/S Plus/X by clicking the pink Unlock with Ledger button. See the screenshot below for reference.
4. Export the public key
Your Ledger hardware wallet is going to display the message Export public key. To proceed, you should press both buttons on your wallet. Next up, the wallet is going to display the message Confirm export public key. Press the button on the right to confirm.
The AdaLite website will now display your ADA balance, receiving address, and history of transactions. See the screenshot below for reference.
5. Go to staking
Open the Staking tab by clicking on it in the top menu. See the screenshot below for reference.
6. Set the stake pool ID
You can now set a custom Stake Pool ID or use the one which is present by default. See the screenshot below for reference.
7. Delegate your ADA
Finally, click the pink Delegate button in the lower right corner to delegate your ADA to the staking pool. See the screenshot below for reference.
8. Confirm the transaction
Confirm your transaction on the website by clicking on the pink Confirm Transaction button at the bottom. See the screenshot below for reference.
Your Ledger wallet will now show Start new transaction. Press both wallet buttons to proceed. It will then ask you to confirm several details for this transaction, so just keep clicking both wallet buttons to complete it.
Steps to Stake Cardarno Using Yoroi
Yoroi is a popular Cardano wallet and service website. You can use it to send, receive, and stake your ADA.
If you want to use Yoroi to stake your Cardano, follow our nine-step guide below.
1. Go to Yoroi
Open the yoroi-wallet.com website in your browser. See the screenshot below for reference.
2. Get the extension
Download and install the Yoroi extension on your browser. It’s available for a whole host of browsers. See the screenshot below for reference.
3. Select a wallet option
The website will offer three wallet options for you to choose from: connect an existing wallet, create a new one, or restore a wallet. Pick the left one labeled Connect to hardware wallet by clicking on it. See the screenshot below for reference.
4. Unlock/Connect
A popup will appear, asking you to select the currency. Click on ADA to proceed. The next popup will appear, asking you to pick the type of wallet. Click on the Ledger Hardware Wallet option.
The final popup will ask you to connect your wallet. Click the green Next button at the bottom to proceed. See the screenshot below for reference.
5. Connect your wallet
You will be presented with a new popup. Click the green Connect button to proceed. See the screenshot below for reference.
The next popup will ask you to select your Ledger model. Click on Ledger Nano X.
6. Export the public key
Your Ledger hardware wallet is going to display the message Export public key. To proceed, you should press both buttons on your wallet. Next up, the wallet is going to display the message Confirm export public key. Press the button on the right to confirm.
You should now see the Yoroi dashboard with your ADA balance, receiving address, and history of transactions. See the screenshot below for reference.
7. Go to the delegation list
Open the Delegation List tab by clicking on it in the top menu. See the screenshot below for reference.
8. Delegate your ADA
Once you open the delegation list, you will see the list of available staking pool options.
Pick a pool by clicking one of the green Delegate buttons on the right. See the screenshot below for reference.
9. Confirm the transaction
Confirm your transaction on the website by clicking on the green Delegate button at the bottom. See the screenshot below for reference.
Your Ledger wallet will now show Start new transaction. Press both wallet buttons to proceed. It will then ask you to confirm several details for this transaction, so just keep clicking both wallet buttons to complete it.
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