How to stake Cardano (ADA) through Ledger Live and get rewards - margertannable/Ledger-Device-Solutions-890 GitHub Wiki

Important notice regarding Cardano (ADA) staking with Ledger Nano S

When staking ADA with your Ledger Nano S, you might see a difference in the last 5 characters of the delegate address displayed on your device compared to the transaction details. Rest assured, this issue is purely a UI bug on the Ledger device and does not affect the staking transaction. The development team has identified the bug, which will be resolved in the next version of the ADA app.

For Ledger Stax, Nano X, and S Plus users, updating the Cardano (ADA) app to the latest version will resolve this issue.

This article explains how to delegate (stake) ADA through Ledger Live and get rewards*.

ℹ️ An initial deposit of 2 ADA is required to activate a delegation. When you deactivate your delegation, the network will refund you.

What’s the Staking Rewards Rate (SRR) for staking with Ledger by Figment?

  • Staking Rewards Rate (SRR) refers to the rate of growth on your ADA staking rewards. This rate depends on different factors including the Cardano network’s performance and node uptime.
  • Staking rewards are added to your ADA rewards balance at the end of every epoch (about every five days) for the previous epoch and show instantly in the Rewards section of your Cardano (ADA) account.
  • For first-time ADA stakers, however, it can take up to 5 epochs to get your rewards, this mean that your first ADA staking rewards will arrive between 20 to 25 days, depending on when you initiated the delegation in the current epoch.
  • The return for staking with Ledger by Figment is in line with the Cardano network nominal rewards minus a commission fee paid to Ledger by Figment.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Before you start

  • You should have the latest version of Ledger Live installed. 
  • Ensure that your Ledger device is running the latest OS version.
  • Ensure that you have the Cardano (ADA) app installed on your Ledger device. 

Video instructions

Delegate (stake) a Cardano (ADA) balance

  1. Connect your Ledger device to your computer.

  2. In the Ledger Live app, navigate to Accounts  and select your Cardano (ADA) account.

  3. In your account, click Stake.

    images/13018783986845.png  

  4. Select Ledger by Figment as a validator and click Continue. You can also select a different validator.  **Why is Ledger Live saying it costs 340/345 ADA to delegate?**The “Cost 340 ADA” you see in Ledger Live when selecting a stake pool is the minimum fixed cost per epoch (5 days) that the stake pool operator can set. This cost is not charged to you but is deducted from the total rewards of the pool before they are distributed to stakers. The remaining rewards are then distributed proportionally to the stake of each staker, after the pool’s variable fee (the n% commission) is also deducted. So, as an individual staker, you’re not directly paying this 340 ADA cost.images/13018860430237.png  

  5. Review the transaction details and click Continue.  At this time, you cannot select a specific amount of ADA coins to delegate; you must delegate your entire ADA balance.

  6. Unlock your Ledger device and then open the Cardano ADA app on your device.

    images/13018865570845.png  

  7. On your Ledger device, review the staking transaction. If all looks good, navigate to the screen that displays the words Confirm transaction then press both buttons simultaneously to sign and broadcast the transaction to initiate your Cardano (ADA) delegation.Just as with sending transactions, reviewing your staking transaction on your device involves navigating through multiple screens. To move from one screen to another, press the corresponding buttons.images/13019111554333.png  

  8. You’ll see a message stating that you’ve successfully delegated your assets. Click Close.

Once your transaction has been confirmed on the Cardano blockchain, your delegated ADA balance will appear in the Delegation section in your Cardano account. You’re all set!

Note About Cardano Rewards: Your Cardano (ADA) rewards are automatically added back to your staked balance upon receipt. Additionally, you may notice that the address associated with your delegation in Ledger Live’s transaction history differs from your Cardano receiving address. This is normal. Each delegation and transaction to your Cardano account locks your ADA coins into a unique address, all of which are under your control

images/13019039950493.png

End your Cardano (ADA) delegation (unstake) 

  1. In Ledger Live, navigate to Accounts and select your Cardano (ADA) account. 

  2. Go to the Delegation section and find your delegated balance. 

  3. Click the … button and then click on End delegation.

    images/12998401163549.png  

  4. Click Continue.

  5. When prompted, open the Cardano ADA app on your Ledger device.

    images/13013522460061.png  

  6. On your Ledger device, review the transaction. If all looks good, navigate to the screen that displays the words Confirm transaction then press both buttons simultaneously to sign and broadcast the transaction to end your Cardano (ADA) delegation.Just as with sending transactions, reviewing your Cardano transaction on your device involves navigating through multiple screens. To move from one screen to another, press both buttons simultaneously. images/13018952523933.png  

  7. Click Close.

*Rewards are not guaranteed. Ledger does not provide any financial advice or recommendation.