How to stake Near (NEAR) using Ledger Nano S

Near Protocol is one of the latest generation smart contract blockchains. The developers of the protocol placed the main emphasis on the convenience and speed of developing decentralized applications (DApps). You can read an article about Near Protocol in our blog:

What is Near and how it makes blockchain application development easy and efficient

Ledger hardware wallets support staking of various cryptocurrencies such as NEAR through integrated blockchain applications. In this beginner’s guide, we’ll show you how to stake NEAR using the Ledger Nano S wallet.

Create a Near account

Before staking tokens, you need to create a Near Wallet account. Go to the wallet website, come up with and enter your unique ID in the Near Protocol ecosystem, and then click Create Account.

Choose a way to protect your wallet, which can be through a recovery phrase or a hardware wallet connection. In our case, this involves using a Ledger Nano S or X. Click on the appropriate option. Since you are using a hardware wallet, you do not need a new seed.

Click Continue and go to the next step.

Add Near App and Connect Ledger Device

Now, launch Ledger Live App and go to the Manager section as shown in the screenshot.

Enter the PIN on your device to authorize your hardware wallet in the Ledger Live app.

Allow the Ledger Live app to use the device.

Press the button on your Ledger device to connect it in the app and use it on your PC.

After authorization in the manager, a directory of blockchain applications will open. Search for Near for a quick new app search, then click Install and wait for the app to install in Ledger Live.

Go back to the Near Wallet site with your Ledger device connected and click Continue.

Select the NEAR app on your device and hold down the top buttons.

Then select the option Use wallet to view accounts and hold down the buttons on the device again.

Now confirm the operation on the Ledger device.

Select the Public Key that you will use and press the buttons on the device.

Confirm the operation by pressing the buttons again.

Done! You have connected your Ledger Nano S wallet to your Near account. You can add funds to it.

 

Fund the Near Wallet

 

After you connect Ledger Nano S to the Near Wallet, the address of the wallet to which you want to send tokens is displayed. In order to create a Near account, you first need to fund your wallet. Copy this address and send coins to it.

If the coins have arrived in the wallet, Near Wallet will display a message, as shown in the screenshot. Click Finish to proceed to the next step.

Note. Please note that you are using a disposable address. This means that you can no longer use your ID to add funds to the address. After adding funds to it, do not use this address in the future.

Confirm the transaction on the Ledger device.

Confirm the creation of an account by pressing the buttons on the device.

Press the buttons again to validate the action.

Wait for transaction confirmation.

Congratulations! You have created a Near account and can now proceed to staking. Click Continue to account to return to your wallet.

Stake NEAR

 

It’s time to stake coins. In the Near wallet, go to the Staking section.

Click Stake My Tokens to select a validator.

Now select the validator to which you are delegating coins. Use the search bar to quickly find the validator you want, and enter its name – for example, Everstake. We offer low conditions and provide services for staking monitoring, the development of which is backed by a strong team of professionals.

You will be taken to the validator page where staking statistics will be displayed. Click Staking With A Validator to continue.

Enter the amount of NEAR coins you want to stake and click Submit Stake.

Confirm the transaction.

Take your Ledger device and confirm the transaction on it.

Press the buttons to confirm the transaction on the device.

Done – you have staked the tokens.

Wait until the transaction is approved on the blockchain.

Success! Congratulations! You have staked NEAR and will now receive regular rewards. Remember to collect rewards from time to time. You can reinvest them to increase your profit.

The Staking section will display statistics on staked coins. On this page, you will see how many rewards have been awarded, how many tokens are available for withdrawal, and how much NEAR is pending if you have staked coins.

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