Key Highlights:
- Ledger Live users can now securely and easily stake ETH with Figment through the app in the Discover section.
- The Figment app on Ledger Live allows you to stake your digital assets, earn rewards, and track performance.
- Enjoy 0% fees on rewards if you stake to Figment via Ledger Live before April 30th
- Staking through the Ledger ecosystem brings a wide range of benefits including ease of use, self-custody, and security. Ledger has been producing hardware wallets since 2014 and has a wide range of expertise when it comes to blockchain security.
Figment staking is now accessible through Ledger Live, allowing you to stake ETH with industry leading security and convenience.
Staking your assets with Figment through Ledger brings multiple benefits, including self-custody, ease of use, and security provided by your Ledger device. On top of that, Figment enables:
- Instant Rewards: All rewards are sent to your wallet immediately. No need to claim them. No hidden fees.
- Non-custodial staking: Your validator’s withdrawal address is always set to your wallet. You maintain control of your digital assets at all times.
- No pooling: You get your own dedicated smart contract. Your ETH is never pooled with other users in a honey-pot contract.
This collaboration gives ETH token holders the ability to stake their Ethereum in increments of 32, directly through their Ledger devices.
The Ledger Live app simplifies the process of Ethereum staking for users who self-custody ETH on Ledger wallets. By integrating with the Ledger Live dashboard, this collaboration offers a seamless and secure staking experience, directly from the trusted interface of Ledger Live.
As a leading hardware wallet provider, Ledger’s collaboration with Figment underscores our commitment to enhancing user autonomy and security.
Getting Started
Staking Your ETH with Figment through Ledger’s secure ecosystem is easy. All you need to do is to:
- Open to Ledger Live and click “Stake”
- Select Ethereum
- Choose Figment and start earning rewards!
You can also find the Figment app from the Discover section from your Ledger Live.
Why Choose a Ledger Wallet?
The core appeal of a Ledger wallet lies in its commitment to security and self-custody. Unlike keeping your assets on an exchange where they are under the control of a third party, a Ledger wallet ensures that you, as the owner, retain full control over your digital assets.
Self-custody means that the owner(s) of digital assets control the private key that enables the transfer of their digital assets. It is very important to keep this private key written down, and stored safely offline. Ledger has a blog post here on the best way to store your private keys.
Keep in mind, If your assets are on an exchange, the exchange controls your assets and gives you permission to move those assets off of the exchange. If the exchange is compromised, your assets can be irrecoverably lost. By self-custodying your assets in a Ledger hardware wallet, you mitigate the risks associated with third-party control, adhering to the adage “not your keys, not your coins.”
What is Staking?
Staking is a way to earn passive rewards by securing tokens on a Proof-of-Stake network.
Tokens can be staked, or locked into a protocol in exchange for the chance to produce a block, which in turn you receive a reward. Locking your tokens is essential for the operation, security, scalability, and decentralization of the protocol. Staking your tokens allows you to earn new issuances (also known as rewards) from the network.
For more information on staking, check out our “What is Staking” video.
Stake Through Ledger Live
By choosing to stake through Ledger Live, users gain complete control over their digital assets thanks to the self-custody model. This approach contrasts sharply with other staking methods that might involve third-party custodians or exchanges. Staking through Ledger Live means you’re not just participating in the network and earning rewards, but also doing so with the assurance that your assets are secured in a reliable environment – your Ledger hardware wallet.
This method simplifies the staking process, reduces potential security risks, and avoids the common pitfalls like complexity and lockup periods associated with other staking solutions. With Figment’s professional validator services and Ledger’s proven track record, staking through Ledger Live emerges as a compelling, straightforward, and secure choice for Ethereum stakers seeking both autonomy and peace of mind.
Staking through Ledger Live and Figment has clear benefits:
- Professional validator services: Figment has one of the most secure and reliable blockchain infrastructure built from the ground up to maximize security and minimize risk. Learn more about our infrastructure here.
- Convenience and security: By choosing Figment validators on Ledger Live, your coins are staked in one of the world’s most secure environment. You can gain rewards while securely holding your crypto in your Ledger hardware wallet. You own your own private keys.
- Self-custody: Only you have the possession of your cryptocurrencies. Remember: not your keys, not your coins.
- Multiple currencies supported: Ledger hardware wallets allow you to securely stake multiple coins simultaneously.
About Ledger
Founded in 2014, Ledger is the global platform for digital assets and Web3. Over 15% of the world’s crypto assets are secured through Ledger Nanos. Headquartered in Paris and Vierzon, with offices in London, New-York and Singapore, Ledger has a team of more than 500 professionals developing a variety of products and services to enable individuals and companies to securely buy, store, swap, grow and manage crypto assets – including the Ledger hardware wallets line with more than 4 million units already sold in 180 countries.
Ledger combines a hardware wallet: Nano S or Nano X and the Ledger Live app to offer consumers the easiest way to start their crypto journey while maintaining full control over their digital assets. With its ease of use, Ledger allows a user to begin investing in digital assets and ultimately, achieve financial freedom in a safe and stress-free environment, with additional education provided by its Ledger Academy. In addition to consumer products, Ledger has also developed Ledger Enterprise Solutions, a digital asset custody and security solution for institutional investors and financial players.
About Figment
Figment is the leading provider of staking infrastructure. Figment provides the complete staking solution for over 250 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets. On Ethereum, Figment is the largest non-custodial staking provider with nearly 5% of staked ETH on Figment validators. Figment’s institutional staking service offers seamless point-and-click staking, portfolio reward tracking, API integrations, audited infrastructure, and slashing protection. This all leads Figment’s mission to support the adoption, growth, and long-term success of the digital asset ecosystem. To learn more about Figment, please visit figment.io.
The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.
