Don't Let Your ETH Sit Idle: Stake For 3-5% APY On Your Ledger Stax

If you have crypto just sitting in your wallet doing nothing, you're actually losing out on money. Today I want to show you how you can use staking on the new ledger stacks wallet, step-by-step walkthrough. So you can start earning rewards without giving up your crypto keys. So first let's talk about something that most crypto holders get wrong. So you buy some Ethereum, you're hoping the price goes up. So you want to hold it. You want to hold it in your own hardware wallet, which is good. It's secure, but you let it just sit there and it just sits there for months. And you know, the price goes up, the price goes down. But you're not doing anything with that crypto wallet sitting on your wallet. And that's kind of like putting money under your mattress while everyone else has it in the bank and is earning interest on it. So let's say you have a thousand dollars of Ethereum sitting on your wallet. Well, right now, Ethereum staking is giving about three to 5%. So, you know, that's 50 bucks that you're just missing out on just because you didn't click a few buttons and stake. So there's a few options to earn on your crypto. Like you can stake it in an exchange like Coinbase or Kraken, but that's risky. Remember FTX, not your keys, not your crypto is what we say. DeFi protocols, you can get, you know, even a higher percentage, but that's even riskier. The third option. And what we're looking at today is you can stake directly from a hardware wallet like Ledger still in your possession, but it is staked and you're making money on it. But this is the Ledger Stacks wallet. Honestly, one of the coolest wallets that I've had before. And I've had a lot of wallets. I've tried a lot of wallets. So first thing you can do is open up the Ledger's app. They changed the name recently from Ledger Live to Ledger Wallet. And the redesign looks really great. It's a great app. You just get it plugged in via USB-C. It'll get you all set up. So then you just send crypto from, you know, Metamask or Coinbase, wherever you have it, you send it to your device. And I really like this device. It has e-ink, so it's really easy to see and you can approve the transaction and actually see what transaction you're approving. So very secure. So once the crypto is on your wallet, you just click this earn tab. And then you can select from all the different cryptocurrencies where you can receive staking rewards. For Ethereum, getting about 4% right now. So this isn't going to make you rich. But again, if it's just sitting there anyways, you might as well make some money off of it. But this is why I keep coming back to Ledger. I keep trying out different wallets. I end up coming back to Ledger for my hardware wallet. One thing that really bothers me is when I'm not utilizing my crypto efficiently. So I'm not getting my, you know, complete bang for my buck. I'm not getting everything out of it that I could. So I've thought about leaving my crypto on Coinbase or something like that, you know, getting there 2 or 3%. But it's just so risky leaving it on an exchange. I'm seeing all these horror stories of people saying, hey, Coinbase locked me out of my account. So I really want to keep it on my own hardware wallet. But I also want to get that, you know, 3, 4, 5%. So Ledger has been great for that. And I keep coming back to them. All the wallets I try, I keep coming back to Ledger. So if you want to try out Ledger for yourself, I have a link. Get a big discount when you use that. Also, when you buy, you get Bitcoin automatically added. So it's a bonus for buying. The Stacks is very cool. That is what I use. But if you're on more of a budget, they have other options as well. So go check out the link down below. This was helpful. Please like and subscribe. God bless you all and have a great rest of your day.