Ledger will support the new ETH 2.0 version and staking

Ledger comes with a big news. Announced a new collaboration that will allow users of hardware wallets stake ETH 2.0 coins even if they do not have more than 32 coins.

ETH 2.0 will be on the Ledger wallet without limits!

Thanks to the new cooperation with Lido, Ledger is the first large wallet where it will be possible to stake coins even if you do not have more than 32 pieces ETH. It is very difficult for most users to own more than $ 100,000 in ETH coins. Few people have that option. That’s why Ledger and Lido have been trying to address these market needs in recent weeks.

Something similar has been working on exchanges for a long time. However, exchanges charge large staking fees and the security is on a slightly different level than if you keep the coins securely with you on your hardware wallet.

Staking will work so that after sending the ETH coins you will receive from Lido stETH. You can then exchange the stETH coin back on the Paraswap and you will get a little more ETH coins thanks to staking.

How will it work?

StETH token is something like the stablecoin with 1: 1 value to USD. The same will apply to ETH coins. One stETH equals one ETH coin. You will also see the stETH coin on your Ledger live application. So you can monitor the account status of your ETH coin similarly to Bitocin and other altcoins in real time.

Author
Recent Posts

Roman B.

I have 6 years of writing experience on several leading websites dealing with cryptocurrencies and other investments. I have been in the Web3 sector for a similar amount of time and have collaborated on several projects from NFT to P2E. My previous experiences: Business2Community.com, TradingPlatforms.com, CryptoSvet.