Near Protocol is an open-source blockchain for fast and secure decentralized apps.
This detailed guide will explain how to stake NEAR tokens using Ledger Live.
What is Ledger Live?
Ledger Live is a platform to buy crypto, stake your assets, and manage NFTs. It functions as a secure gateway to the crypto ecosystem. The Ledger Live app allows you to manage and transact different tokens. In addition, you can grow your crypto using the staking and lending process available at the Ledger Live app.
Why Stake NEAR?
Users can secure the chain and receive rewards by locking their tokens. It allows participation in the network’s growth while making your assets work for you.
Staking NEAR directly increases the efficiency and security of the Near blockchain. Besides, it does not require additional equipment, and you can earn a certain percentage (APR) from your crypto assets.
How to Create Ledger Live?
Go to the official Ledger website and click the Download button. Currently, users can download the Ledger Live for Windows, macOS, and Linux. The Mobile version is available for Android and iOS users. You can download it from App Store and Google Play.
Choose your operating system, install the app on your computer, and open it. Then click on to Get started button. You can access its full functionality if you have a Ledger device.
Turn on your Ledger device and enter the code.
Approve the entry into the application by pressing two buttons. Now, you can use the application.
So, here is the main menu of Ledger Live. Install the latest version of the NEAR app on your Ledger device to start the staking process. Go to the App Catalog and write NEAR in the search bar. After that, click install.
After installing the NEAR app, add your NEAR accounts by clicking add account button.
You can add several accounts.
Once your account is added successfully, click the Done button.
Before staking, you must send NEAR tokens to your wallet. Skip this step if you already have them and move directly to staking.
Find the Account section to add funds to your Ledger Live. Choose a NEAR account. Then, click the receive button.
The Receive page will open. Click Continue.
Verify that the shared address exactly matches the one on your device. Select Approve on the device and press two buttons on your Ledger.
If everything is ok, copy your address. Finish this process by clicking Done.
Next, you can buy NEAR tokens from any cryptocurrency exchange. Send them to your wallet address. After the transaction is done, come back to your Ledger Live.
How To Stake NEAR
Open the Accounts tab and click the Stake button to start the staking process.
Next, you will see information about NEAR staking features. Having read it, click Continue.
Then, you need to choose Staking Provider you want to delegate. Click Show all to see the complete list of validators.
In the new window, enter “Everstake” in the search field and select it from the list. Click Continue.
Then enter the amount you want to stake. You can also select the Use Max button to stake all your balance (minus the transaction fee). Network fees amount will be shown in the staking tab.
You need to confirm the transaction on your Ledger Device. Press the buttons on your device, as shown in the picture below.
Now you have successfully delegated your tokens. Click View details to see the transaction details.
You can review your status and the transaction by checking its hash in the explorer.
You can track your staking position by clicking the Accounts tab.
NEAR Blockchain Explorers
You can monitor the network’s statistics and access a list of the NEAR validators using one of the NEAR blockchain explorers:
Everstake operates across over 70 blockchains and has assigned dedicated DevOps, R&D, and community expert teams. You can contact our NEAR Blockchain Manager via Twitter anytime if you have any queries.
