Get yourself a crypto tee or surprise a crypto enthusiast in your life with our festive Coin Bureau Merch!
How to stake Cardano on Ledger
5 min read

How to stake Cardano’s ADA with Ledger Hardware Wallet

By Julie-Anne Chong

The Cardano blockchain is one of the OG blockchains that’s been around since the early days of crypto. To many, it’s one of the most mystifying chains in the crypto space. What it aims to do, ambitious in the early days, seems standard nowadays. yet the loyalty from believers of the chain has not wavered much. From the muted response to the smart contract launch to the most recent Vasil fork upgrade, it is the blockchain that generates the little price speculation within the community.

Comparing its all-time high of $3.00 a year ago, the current price of $0.45 looks to be a real steal. If you have some burning a hole in your crypto wallet, consider staking them on the Cardano blockchain.

Staking Rewards chart

3rd highest-staked chain with a 71% staking rate. Image via StakingRewards

In this article, we’ll show you how to stake your ADA through the Ledger cold wallet via the Yoroi wallet extension. There’s also another way to stake with Ledger but done through a staking service, which we will cover in a separate article. There are three moving parts involved in this method: the Ledger Live app from Ledger, the connection to the Yoroi wallet, and the actual staking.

Before We Begin Staking ADA with Ledger

This article assumes the following:

  1. You already have a Ledger wallet.
  2. You may have ADA tokens in your Yoroi or Ledger wallet.
  3. You know how to select a validator to stake on Cardano.

Ledger Live app

The Ledger Live app is the interface for interacting with your Ledger wallet. Download the app from the official website to get started. If you already have the app, check that it’s been updated to the latest version for safety. This is because it will have security patches and other upgrades/updates done to it.

Next, connect your wallet to the app and unlock it with your PIN number.

Ledger PIN Number

Enter your PIN number to unlock the Ledger wallet. Image via Medium@everstake.one

After unlocking the app, connect it to the Manager section of the app and install the Cardano app, if you haven’t done so already. Check that the Cardano app appears on the Ledger device just to be safe.

Note: Cardano chews up a lot of space so if you’re using something small like the Nano S, you’d need to uninstall pretty much all the apps before you can install it. Uninstalling an app on the Ledger will not affect your crypto assets as you can reinstall them later.

Cardano App on Ledger

This app takes up a lot of space, be warned! Image via Ledger

Connecting Ledger with Yoroi

Open the Yoroi wallet and go to Add New Wallet. Select “Connect to Hardware Wallet”, the Cardano platform, and the Ledger wallet app. Select Standard Wallet to continue.

Ledger Wallet Selection

Choose the right wallet to connect with. Image via Yoroi

Follow the steps to connect with the Ledger wallet. You will be asked to choose between Nano S and Nano X. Ensure that you have connected to the Cardano app on your Ledger. If you have a connection error, check that the “Cardano is ready” message appears on the Ledger device.

Connect Yoroi to Ledger

Straightforward instructions for the connection. Image via Yoroi

Next, you’ll be asked to confirm the export of 2 public keys on Ledger. Once done, enter a name for the wallet on the Yoroi wallet screen and click Save.

Successful Connection

Staking ADA with Ledger on Yoroi

Before we continue, check that you have tokens in the Ledger wallet for staking. If not, transfer tokens to the wallet using the Send/Receive function on Yoroi. Once the tokens are safely in the wallet, it’s time to select a validator.

ADA Select Validator

Choose a validator from the Delegation List. Image via Yoroi

Browse to the wallet and click on Delegation List. A search field appears where you can enter the name or ID of the validator you want to stake with. When it appears in the list below, click the Delegate button.

ADA Delegate Screen

Find the validator you want to delegate your ADA. Image via Yoroi

It’s worth noting that the amount is the all-or-nothing style. All the funds in the wallet will be staked with the selected validator. However, you can unstake at any time when you need the funds or want to transfer them to another validator. Funds can only be delegated to one validator at any given time. Click the Delegate button to continue. Next, you’re asked to confirm the transaction on the Ledger device.

ADA Ledger Confirmation Steps

Follow the clear instructions outlined. Image via Yoroi

Note that the address path, staking key, and pool address differ for each person.

Once everything has been verified, your ADA is now successfully staked! You can confirm this on the dashboard, including when you can start receiving rewards.

ADA Successful Stake

Check out when you can start receiving rewards on the dashboard. Image via Yoroi

Conclusion

Having assets sit idle in a cold wallet can be a bit of a pity. By staking on the network, you are doing your bit to contribute to the health and security of the network. I hope this article gives you the confidence to start putting some tokens to work!

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
Crypto enthusiast since 2020. Keen on helping others navigate the complicated, and sometimes, confusing world of crypto through easy-to-understand articles, designed for non-techies like me.
View all posts by Julie-Anne Chong -> Best Crypto Deals ->

Related Posts

How interest rates impact everything macro look at interest rates
How Interest Rates Impact Everything
How interest rates impact everything macro look at interest rates

How Interest Rates Impact Everything

November 10th, 2022 25 min read
How to stake MATIC with Ledger

How to stake MATIC with Ledger

September 29, 2022 5 min read
Crypto Safety 101: How to Protect your Crypto

Crypto Safety 101: How to Protect your Crypto

September 22, 2022 44 min read
Blockchain Security: How to Understand Blockchain Audits to Stay Safe in DeFi

Blockchain Security: How to Understand Blockchain Audits to Stay Safe in DeFi

September 21, 2022 26 min read
Using Modern Portfolio Theory to Build a Crypto Portfolio
Using Modern Portfolio Theory and How to Build a Crypto Portfolio
Using Modern Portfolio Theory to Build a Crypto Portfolio

Using Modern Portfolio Theory and How to Build a Crypto Portfolio

September 12, 2022 48 min read
Top 5 Crypto Scams to Avoid in 2022

Top 5 Crypto Scams to Avoid in 2022

September 7, 2022 30 min read
What is Etherscan and how to use it
Etherscan Review: Public Face of Ethereum
What is Etherscan and how to use it

Etherscan Review: Public Face of Ethereum

August 30, 2022 16 min read