Ledger Live integrates “accessible” ether staking option

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In a recent blog post, the popular cryptocurrency hardware wallet, Ledger, announced a new partnership with the Ethereum 2.0 staking solution Lido Finance to provide greater accessibility and liquidity for independent stakers in the market.

Staking is a niche method of investing within the cryptocurrency ecosystem that allows users to invest their crypto assets independently or collectively, generating passive income in return, and actively contributing to the sustainability of the blockchain network.

Users who attempted to set their Ether (ETH) in the past have faced daunting economic hurdles. The current cost to become an Eth2 network validator is around $ 100,000 – a number that many investors in this market simply cannot afford.

Centralized ETH staking options are available on exchanges like Coinbase or Kraken, but these come with a high entry fee and obvious trust issues – not ideal for investors who want to uphold the core value of free wealth autonomy.

In recent months, the Ledger interface has offered users the option of decentralized staking in the form of Polkadot or Tezos consensus mechanisms, but the real demand in the market has been from smart contract giant Ethereum.

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By removing the high entry barrier to staking ETH, this partnership has set a precedent as users can wager a nominal amount of ETH in place of the 32 ETH previously required.

As Ethereum breaks new ground with Eth2, staking and even lending will attract greater audience participation and offer lucrative opportunities for regular cryptocurrency participants.

In this example from Ledger and Lido; As the blog post explains: “For every Ether that you use via LIDO, you receive stETH in return. These can be exchanged, sent or sold via services such as Paraswap. “

stETH tokens – which correspond to the ETH in a 1: 1 ratio – will then be visible in your ledger wallet. This net worth number is updated daily to reflect newly accumulated staking rewards.