Support for Polkadot accounts has come to Ledger Live, including the ability to nominate and receive staking rewards.
Previously, Ledger Nano S and Nano X devices were supported when used in conjunction with Polkadot-JS Apps. Now, users have the option of managing their accounts and interacting with the network, including staking DOT, from within the Ledger Live application using their Leger hardware device to sign transactions.
In addition to basic account management and transaction functions, Ledger Live offers a convenient new way for DOT holders to nominate Polkadot validators and earn staking rewards. The application allows users to interact directly with the Polkadot network from their Ledger hardware wallet, rather than delegating validator selection to a third party as with many staking-as-a-service providers. Ledger Live users can browse, select, and nominate their own choice of validators directly within the app in just a few clicks. The app also provides other essential functions such as unbonding and claiming rewards.
Polkadot’s integration with Ledger Live means users can get the security benefits of keeping their secret key secured on a Ledger hardware device while also being able to manage their accounts and perform staking activity all in one convenient app. This may prove especially beneficial for newer DOT holders looking for a more streamlined and simple staking interface, without compromising the ownership and control of their private keys.
More about Ledger
Ledger is one of the leading providers of secure hardware wallet solutions. Generally considered among the safest methods of managing cryptocurrencies, hardware wallets allow users to keep their private keys stored safely offline. Ledger’s popular Nano S and Nano X wallets have sold over 1.5 million units. Ledger Live is Ledger’s all-in-one cryptocurrency management application.
Learn More About Polkadot
Unfortunately scams are very common in the crypto space. With the growing popularity of Polkadot and Kusama, we are also seeing a rise of imposters trying to scam our community. In order to protect yourself and reduce the risk of losing your funds, read our comprehensive list of known scams and how to recognize them in our Wiki here.