Polkadot DOT Staking from Ledger Live in 6 Steps!

Polkadot DOT staking from Ledger Live is the safest way to stake DOT cryptocurrency and earn rewards. Learn how in 6 steps!

You are able to safely receive, send, store, and now stake DOT directly using Ledger Nano X not relying on any other wallet. Other wallets and exchanges can not provide the same level of security the Ledger hardware wallet can.

What is Polkadot?

Polkadot is a blockchain whose protocol successfully delivers interoperability and scalability to the Polkadot network.

The Polkadot Relay Chain uses the NPos (Nominated Proof Of Stake) which makes Polkadot highly scalable by allowing parallel transaction processing and security to the network.

Parachains that connect to Relay Chain are independent blockchains with chain-specific features. The Polkadot Bridges connect to other blockchains allowing the transfer of coins and functionality between the Polkadot network and outside networks like Ethereum or Bitcoin.


What is Polkadot (DOT) staking?

Polkadot’s NPoS staking is being done through nominators (stakers) and validators. Nominators select – nominate the validators who share rewards if they are elected into the active validators set to produce blocks for the network.

How To Stake DOT directly from Ledger Live?

Using the Ledger hardware wallet to stake DOT Polkadot directly from Ledger Live is easy.

1. Buy Ledger Nano X, and set it up by installing the Ledger Live (desktop or mobile version).

2. Open Ledger Live and in the App catalog install the Polkadot app.

You will now see the Polkadot app both on your Ledger device and Ledger Live Apps installed tab.

Now click Add account.

Make sure the Polkadot app on your Ledger device is open, add a new account (name it) confirm, and done!

3. Click on the account we just created and send some DOT to your address. You will also see the address on your Ledger device – to confirm it’s the real one, safety first. Click approve on the Ledger device.

I’ll send 5 DOT I have not staked yet.

Arrived in 1 minute. Great network. You can also buy Polkadot DOT directly from Ledger Live.

4. Let’s open it. Click the Earn rewards tab.

5. Click continue. First, we bond the DOT and then select a validator. Save some DOT for the transaction fees. Make sure your Polkadot device app is open, choose the amount, and approve the transaction on the device.

Done.

6. Select the validator from the list. You can delegate to multiple validators.

You can choose up to 16 validators!

DONE!

You will now start receiving rewards.

Best Polkadot Wallets Except Ledger Nano X Hardware Wallet?

We have managed to compile the list of 5 Best Polkadot DOT Wallets in 2023!

Some of them can also be used for managing, buying, and staking Polkadot DOT cryptocurrency.

As for the best hardware wallets, the Ledger is the best one that allows direct DOT staking!