Participate in Ethereum 2.0 via Ledger
In a recent statement posted on his blog, Ledger, the popular physical cryptocurrency wallet designer, announced a new partnership with Lido.
This will allow its users to take advantage of the Ethereum 2.0 (Eth2) staking solution developed by Lido. This initiative is part of an approach that calls for greater accessibility for independent stakers on the market.
Lido meets Ledger 🏝️
You can now securely stake your ETH with Lido through our very own @Ledger Live app.
Get staking in just a few clicks 👇https: //t.co/606Y4Di9WS pic.twitter.com/nzMAXAVXgb
– Lido (@LidoFinance) August 14, 2021
Staking is a popular investment method in the cryptocurrency ecosystem. This allows users to lock down their digital assets to receive rewards. Behind, it helps support the operations of a blockchain network and contribute to its sustainability.
In recent months, the Ledger interface has already offered users access to decentralized staking. Until now, it was possible to generate passive income by storing your Polkadot (DOT), Tezos (XTZ), TRON (TRX), COSMOS (ATOM) or Algorand (ALGO) tokens on your Ledger wallet. However, the real market demand was for the giant Ether (ETH).
👉 To read on the same topic – Ledger Live now supports Binance Smart Chain (BSC)
How is this an opportunity?
It hasn’t always seemed so easy to participate in Ethereum’s transition. In the past, users who have attempted to stake their Aether have encountered significant economic hurdles. The current cost to become an Eth2 Network Validator is around $ 100,000, a figure that many investors in this market simply cannot afford.
Centralized ETH staking options are available on exchanges such as Coinbase, Binance or Kraken. However, they come with high entry fees and obvious trust issues.
The partnership between Ledger and Lido aims to break down these barriers that push back or hinder many users. They will now be able to contribute, no matter how much Ether they have, instead of the previously required 32 ETH.
As Ethereum embarks on new horizons, the addition of this option by Ledger is a significant opportunity for investors convinced of the future of the project. While keeping your cryptocurrencies in a secure wallet, less exposed than a centralized exchange, it is still possible to make them work, generate passive income and above all contribute to the future of the blockchain.
👉 To go further – JPMorgan assures that staking will generate 40 billion dollars in 2025 thanks to Ethereum 2.0
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About the Author: Lilian Aliaga
Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.