Gathering Dust
A few months ago, we purchased Ledger Nano S when there was a family bundle sale (Ledger Nano S x3). It was quite a deal and the shipping was also free, so why not, right? I was actually excited to buy it because owning a cold wallet like the Ledger made me feel like a legit crypto holder. LOL.
Anyway, I guess the excitement faded quick as I did not really have that much to crypto to hold there. I still have most of them invested in the Abra Interest account where they earn a little return (10% on USDT, 4.5% on BTC and LTC). Today, I saw the poor thing literally gathering dust at the shelf, cold and lonely in its original packaging.
Hey, don't get me wrong. I already set it up and added a little amount there, but that's about it.
The Big Question
Feeling guilty that the device I bought supposedly to be my crypto-partner is actually gathering dust, it occurred to me to search whether it is also possible to stake the coins that are kept in Ledger.
A quick check at the Ledger website confirmed that one can indeed stake through Ledger. There are options to stake using Ledger Live or staking with external wallets.
To Stake or Not To Stake?
Ledger Live so far supports staking Tezos, Tron, Cosmos and Algorand. I don't own any of these! Haha. I'm not too familiar with these assets. Would it be worth it to hold and stake on to any of these? Which one would be most profitable?
Here's a comparison of the yields after staking that I found at Ledger after a very, very, shallow research. 🙈
| Asset | Yield | Payment In | Freezing Period |
|---|---|---|---|
| Tezoz (XTZ) | 6%, minus validator’s fees | first reward in 5 weeks and every 3 days thereafter | none |
| Tron (TRX) | 7%, minus the Super Representatives’ fees | every 24 hours | 3 days |
| Cosmos (ATOM) | 8 to 10%, minus the validators’ fees | anytime | 21 days |
| Algorand (ALGO) | 5 to 6% | every time a transaction occurs to or from your account |
Thoughts, anyone?
❤️️ Arlyn
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Hey, could you send me a message on discord please? My username is katerinaramm there too!
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Hey, thanks for coming by my blog! I just followed this account too :)
I do not know the answer, but I did ask some of my friends so hopefully they will come by and let you know more!
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Appreciate the help @keterinaramm! I'm exploring this stake thingy now. :D
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Indeed, I agree that you should put your crypto at work and not let it sleep. And with all the opportunities with the movement to specialized financial tools instead of just exchanging, one could make a use out of it. Now if you have 100 Bitcoin probably holding that on Nano is not a bad decision for stability or keeping it safe, while investing some other part.
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Yes! We need to find ways to get these assets get to work. :)
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