Well, after much thought and worrying,,,, I decided to stake 3.0 eth (I left .1 in my Ledger as you suggested). Your video didn't mention about blind signing but I figured it out easy enough. I just want to pass on my kuddos to you for guiding me along this staking journey. I started going at it alone without watching your video and started seeing all kinds of staked eth that were possible. I exited out without completing the process, then watched your video,,, and then soooo easy. Very much appreciated for all the work you do!!
@@jarrodkc I'm not too sure about trading...because what if your trades lose (very likely), then you won't have enough of that token to get the original steth back...my advice is don't trade, you will probably get rekt. Safest strategy: stake eth, earn yield.
What if LIDO goes offline sometime? We have seen occasions that DeXs rugpull their clients or get exploited. Also stETH is a token that they have created for rewards. What if sometime in the future stETH runs out of liquidity and we cannot swap it? I want to stake like Cardano staking system. Just the wallet not the actual coins.
If you cannot stake any crypto asset directly from your wallet you run a third-party risk. You are wise to acknowledge this. When your ETH is with Lido, Coinbase, or Binance. You run the risk of losing it You are correct to realize that the only way to have peace of mind is to steak from your own wallet directly with the Network itself . Just like you can do with Cardano Stay wise !!!
@@spaceoddity2485 Yap we just saw what happened with stETH. ADA staking does not lock your stake and in case of something really bad happen you dont loose your coins, you only loose the reward of that Epoch, so far the most safe staking system i have seen. Although i must admit i have some staking at Binance myself.
I was just looking at lido, I don't like all the hoops you got jump through and the 10% fee they take from your rewards is crazy. Not to mention the gas fees. Then you don't get ETH back. Not for me. Think I would rather put it on Celsius or Voyager.
Good stuff. This however is a very expensive way to stake. In essence you are selling your eth and buying bEth. The cheapest place to do this is in Binance. You can buy bEth at a discount if you're lucky
Great video - thank you. One question, but I'm new to Ledger staking (my excuse): to Unstake (say) Solana, do you select "Deactivate" in the "Manage" option? My SOL is staked with Figment @ 7% and "Active" shows 100%; rewards are auto-added to the "Delegated" amount; "Withdrawable" shows "0 SOL" - so it appears that "Deactivate" is the only way to unstake SOL. Is that correct?
Thank you for the awesome content! One question: do you know why your POLS stored on your ledger only shows the exact amount (578) you have and not the value in USD (1063) like all the other coins? I noticed the same happened to some small ERC20 coins I have stored in my ledger also.
Your video was very useful for the staking part, now I've been trying to unstake the ETH and I'm finding it really difficult. If you have any video on it please let me know. Thanks.
@@SheResellsSeashells Not yet, it seems you have to wait for a year to get it back. Or you have to exchange it in a different platform that will charge you extra for that.
@@TheDennisbaldo wow, that's terrible. I was going to use Lido but don't want it tied up. So sorry that this happened to you. I am glad that I saw your response. It helps me make my decision to skip Lido. Thanks!
@@SheResellsSeashells It is not possible to unstake your ETH with Lido until transactions are enabled on Eth2. To circumvent this, Lido makes use of the stETH token to allow users to stake ether without losing the ability to trade or otherwise use their tokens. (information from their site)
thanks a lot for the awesome content. One noob question. Can you still earn interest on the Celsius network if you put the crypto like ETH in a ledger hardware wallet? Or I have to transfer ETH from my hardware wallet to Celcius network in order to earn interest? Thanks in advance.
If you were to transfer and stake that stETH on another network for a length of time, would it be accepted back into the first Ledger Live wallet at a greater amount or create a separate stETH wallet? Secondly, once ETH 2.0 is created, how much time do we have to convert our stETH back into ETH at 1:1, or is it any time?
Back of the envelope - Transaction was about $20 I think - ETH @3200, 0.5 ETH = $1600 - Earning 5% $1600=$80 or $6.67 per month so around 3 months to cover cost of transaction.
First off great video, but how do I show my rewards? I understand that they will take about 5 weeks to show up, but where will they show up? I never opened an account with lido I only staked with them via ledger live. Can't seem to find anything on the net about where to find / show my rewards on staking on lido via ledger live.
Hello, I thought it was like in Binance staking but I was wrong. I made a big mistake. Today I transferred my ETH via my Ledger ium LIDO for staking stETH. Now I'm wondering how can I get it back into my ledger in ETH? Thank you.
First of all, thank you for another very good and clear explanation. I really find all of your tutorials extremely helpful. Now one question: I have just staked my ETH as shown by you but now my stETH shows a much lower value than the actual current value of ETH. Is that just an interface issue of legder live, because one stETH is supposed to be 1 ETH, or what is the reason for this descrepancy? By the way: on etherscan the correct value is displayed.
I think it depends on stETH liquidity. stETH does not have the same value as ETH until ETH 2.0 is live. This is one of the disadvantages of swapping your ETH for any other token
Great video thank you. 2 questions which might be answered on Lido page. 1 question- If our stETH doubles over time from trading/ purchasing more plus earned rewards, then will that new stETH amount be redeemable for ETH at the launch of 2.0 ?? . 2nd question. If I sell all my stETH before launch of ETH 2.0, then who gets the original ETH that was staked (validator? Staking pool? Lido? Back into the ETH supply?) 🤙🏻
The rewards just get added to your stETH balance so if the balance doubles, I would assume you will get a corresponding amount of ETH 1:1. If you sell all of your stETH, not sure where the staked ETH would go. Good question
stETH is basically a 1:1 voucher for ETH. Whoever owns the stETH when Ethereum 2.0 goes live can then trade stETH for ETH 1:1. The "original" ETH that you had is owned by the smart contract, along with everyone else's ETH who chose to stake and get stETH in return. That ETH will go into the possession of whoever uses that smart contract to trade stETH for ETH when Ethererum 2.0 is live. You can think of this as a brokerage and stock transaction. You have cash, you go to a brokerage and buy a stock -- the brokerage now has your cash in their account and you have a stock certificate. You can redeem the stock certificate for cash (at the stock's current value) at any time via the brokerage, or you can sell the stock certificate to someone else (also at the stock's current value). If you sell the stock to someone else, the "original" cash is still in the brokerage's account. At some point, the new owner of the stock certificate may go to the brokerage and redeem it (sell it), in which case he receives cash. The analogy here is cash = ETH, stock = stETH, and brokerage = smart contract. The one difference here with Ethereum 2.0 is (in the analogy) that you cannot redeem any stock certificates you hold at the brokerage just yet. You will have to wait 12-18 months to redeem them. However, if you really need cash before then, you can sell the stock certificate to someone else and receive cash. If instead, you just hold the stock, the stock will be slowly going up in value.
Im not 100% sure I got it right so please correct me if I misunderstood something. First thing cme to my mind was that you get the same amount in stEth for your Eth. But current price is 1Eth = 0.95 stEth. So you immeditly make 5% loss with an annual interest in staking of 4%, plus you have risk Lido gets wrecked somehow, plus you pay the transaction fees for swapping from Eth to stEth and later from swapping back from stEth to Eth. So bad deal imo!
Glad someone pointed this out. It seems too easy to lose at least 5% in fees in order to get a 5% return after one year. I guess you really need to be prepared to stake for the long term but that 1 / 0.95 conversion can be avoided by using other services
can you see your staked eth income you are making? if you can only see the balance you cant tell how much is just the price of eth increasing vs the increase in balance due to staking money added...
How do I use USDT on my Nanao X to keep the prices stable if the market goes south, not really sure to buy USDT coin for 1 dollar, not really understanding the concept, does the Nano X support USDT natively or I have to buy it?
Unfortunately, Kiln does not support pool-staking for US residents. The only option available is native staking, but you need 32 ETH to do that, and unfortunately I don't have 32 ETH.
Hello sir. I have staked ether on lido . When i enter lido rewards i see in the type section rewards as i scroll down i see rewards and the interest i have gain on 4 of the transaction i see staking with no rewards only in the change section i see the amount when i tap on the staking it takes me to etherscan and it shows the status success. Why is not giving me rewards would appreciate you explaining or if i have done an error. Thank you
What stops me from staking 10 ETH, get 10 stETH which I swap for 10 ETH, stake that 10 ETH again and now I would get stETH rewards from 20 ETH instead of 10?
Thank you CryptoDady for all your videos. Please can you do a video, or link us to a video you trust, on how to UNSTAKE Ethereum in Ledger Live Using the Lido App? How to Unstake Ethereum in Ledger Live from Lido. Thanks again and very much appreciated. Peace.
Well, after much thought and worrying,,,, I decided to stake 3.0 eth (I left .1 in my Ledger as you suggested). Your video didn't mention about blind signing but I figured it out easy enough. I just want to pass on my kuddos to you for guiding me along this staking journey. I started going at it alone without watching your video and started seeing all kinds of staked eth that were possible. I exited out without completing the process, then watched your video,,, and then soooo easy. Very much appreciated for all the work you do!!
Crypto dad is the best on the internet. I've learned more from this guy than anywhere else.
Please, could you make a Video how to unstake Eth from Lido with the Ledger. Thanks
I think you can also then take your stETH and use it in other yield generating protocols like Curve, Anchor and Uniswap Onsen. Put that ETH to work!
Now you have two ways to loses your eth…….
@@jarrodkc I'm not too sure about trading...because what if your trades lose (very likely), then you won't have enough of that token to get the original steth back...my advice is don't trade, you will probably get rekt. Safest strategy: stake eth, earn yield.
Very well explained. Thank you!
Best video I've seen on this. Thanks for explaining the less obvious risks, limitations, processes, etc.
Thank you for the video. I have a question. After Ethereum enters the Phase 2 of ETH 2.0 upgrade, how do you swap your STETH back to ETH?
Don't worry, that will be years away 🤣🤣
@@kiwicam6419 this didn’t age well lol
Thank you,
Can you please make a video on how to now convert the staked ETH (STETH) back to ETH on this same platform?
Excellent video on Lido staking. I am a big believer in powerful platforms. Great value
What if LIDO goes offline sometime? We have seen occasions that DeXs rugpull their clients or get exploited.
Also stETH is a token that they have created for rewards. What if sometime in the future stETH runs out of liquidity and we cannot swap it? I want to stake like Cardano staking system. Just the wallet not the actual coins.
Stake it on coinbase.
If you are afraid of this stake your coins on Binance or Coinbase.
I won't stake at all. It's not profitable.
If you cannot stake any crypto asset directly from your wallet you run a third-party risk. You are wise to acknowledge this.
When your ETH is with Lido, Coinbase, or Binance. You run the risk of losing it
You are correct to realize that the only way to have peace of mind is to steak from your own wallet directly with the Network itself . Just like you can do with Cardano
Stay wise !!!
@@spaceoddity2485 Yap we just saw what happened with stETH. ADA staking does not lock your stake and in case of something really bad happen you dont loose your coins, you only loose the reward of that Epoch, so far the most safe staking system i have seen. Although i must admit i have some staking at Binance myself.
low key the only person on yt that helps so much thanks crypodad lol
I was just looking at lido, I don't like all the hoops you got jump through and the 10% fee they take from your rewards is crazy. Not to mention the gas fees. Then you don't get ETH back. Not for me. Think I would rather put it on Celsius or Voyager.
Bifrost (BNC) is the LIDO of the polkadot network.
It's full of updates in the coming months.
Could you make a video
Great video. Is Eth is available to unstake on lido, could you make a video of how to do it ?
Great content, adapted to newbies, but also contains technical stuff, love the pace, keep up the great job :)
Can you please make a video on how to convert StEth back to ETH? Cant find any info how to unstake my Eth..
I think you can use curve to convert anytime. It seems to work well with minimal slippage
Yes make a video how to unstake your eth ! What if I wanted my eth back how do I get it ! Thanks for any information
Good stuff. This however is a very expensive way to stake. In essence you are selling your eth and buying bEth. The cheapest place to do this is in Binance. You can buy bEth at a discount if you're lucky
Hi Rex, what about staking stETH on Curve (+Yearn), is it worth? Would you do a video about it? Or share your thoughts on it?
Appreciate the detail, diving into all options and explaining in lay terms. Thanks
Great video - thank you. One question, but I'm new to Ledger staking (my excuse): to Unstake (say) Solana, do you select "Deactivate" in the "Manage" option? My SOL is staked with Figment @ 7% and "Active" shows 100%; rewards are auto-added to the "Delegated" amount; "Withdrawable" shows "0 SOL" - so it appears that "Deactivate" is the only way to unstake SOL. Is that correct?
Thank you for the awesome content! One question: do you know why your POLS stored on your ledger only shows the exact amount (578) you have and not the value in USD (1063) like all the other coins? I noticed the same happened to some small ERC20 coins I have stored in my ledger also.
After merge is it something changing? Will be able staking without using lido and just with our ledger or will we need minimum 32eth?
Best explaining of ths thank you verry much
Rex... You rock Brother! Love your videos. Always super easy to follow along with and informative. Keep up the great work.
You produce excellent content. Thank you!
Will i get reward daily or i will get all profit when i unstake?
thank you this was direct and simple , love your videos so much, you dont waste our time like other youtubers , cheers 👍
Your video was very useful for the staking part, now I've been trying to unstake the ETH and I'm finding it really difficult. If you have any video on it please let me know. Thanks.
Did you ever figure it out?
@@SheResellsSeashells Not yet, it seems you have to wait for a year to get it back. Or you have to exchange it in a different platform that will charge you extra for that.
@@TheDennisbaldo wow, that's terrible. I was going to use Lido but don't want it tied up. So sorry that this happened to you. I am glad that I saw your response. It helps me make my decision to skip Lido. Thanks!
@@SheResellsSeashells It is not possible to unstake your ETH with Lido until transactions are enabled on Eth2. To circumvent this, Lido makes use of the stETH token to allow users to stake ether without losing the ability to trade or otherwise use their tokens.
(information from their site)
What platform can the stEth be changed back to ETH? Or, is that even possible?
Why aren't they supporting Trezor which is open-source?
thanks a lot for the awesome content. One noob question. Can you still earn interest on the Celsius network if you put the crypto like ETH in a ledger hardware wallet? Or I have to transfer ETH from my hardware wallet to Celcius network in order to earn interest? Thanks in advance.
Is there update of this video for reviewing the lido staking if it's a good/safe option?
Thanks for your sharing !
Thank you. super calm, simple but helpful video
If you were to transfer and stake that stETH on another network for a length of time, would it be accepted back into the first Ledger Live wallet at a greater amount or create a separate stETH wallet? Secondly, once ETH 2.0 is created, how much time do we have to convert our stETH back into ETH at 1:1, or is it any time?
Gas fees are kinda crazy right - how long to leave 0.5ETH in staking to recover your fees for staking and unstaking ?
Back of the envelope - Transaction was about $20 I think - ETH @3200, 0.5 ETH = $1600 - Earning 5% $1600=$80 or $6.67 per month so around 3 months to cover cost of transaction.
@@paulmuscroft9292 You also have to pay to unstake.
That’s why it’s worth staking more because fees are the same for 0.5 ETH and for 50 ETH !👍😉😎
Great and informative video. Thank you!
Very nice video. I watched this and now I am a subscriber. Well done
Thank you for your help Crypto Dad.
Does anyone know if you can unstake your eth ?? And if so how ? Or when we will be allowed to unstake ?
Thisbis very useful. Thank you so much!
Thank you for all the information. I would rather wait until a bullet proof staking option comes out and dollar cost average until then.
Where we can see the daily stake rewards? is it possible to check day by day how much we receive or can we only see our stEth is raising day by day..
First off great video, but how do I show my rewards? I understand that they will take about 5 weeks to show up, but where will they show up? I never opened an account with lido I only staked with them via ledger live. Can't seem to find anything on the net about where to find / show my rewards on staking on lido via ledger live.
Excellent video. Thanks for your work. 👍
Thank you!
Why I don't see LidoStaked ETH rewards in my account?
Hello, I thought it was like in Binance staking but I was wrong. I made a big mistake. Today I transferred my ETH via my Ledger ium LIDO for staking stETH. Now I'm wondering how can I get it back into my ledger in ETH? Thank you.
let's say I put my eth in lido and got steth 1:1. Can I sell steth usdt then buy eth again and put it in lido? and do it all the time?
Awesome detail video. Thank you
great video. well explained. helped me a lot.
Thanks Rex!
hey sir pls make a video about how to unstake your seth from ledgers ...no proper video till now thank you^^
First of all, thank you for another very good and clear explanation. I really find all of your tutorials extremely helpful. Now one question: I have just staked my ETH as shown by you but now my stETH shows a much lower value than the actual current value of ETH. Is that just an interface issue of legder live, because one stETH is supposed to be 1 ETH, or what is the reason for this descrepancy? By the way: on etherscan the correct value is displayed.
I think it depends on stETH liquidity. stETH does not have the same value as ETH until ETH 2.0 is live. This is one of the disadvantages of swapping your ETH for any other token
Why I don't have discover on my ledger live ?
we not run your own validator ?
This was great information. I was thinking about this. I had in Blockfi but they lowered rates to like 1.5%? that's trash.
Thank you for this video.
Great video thank you. 2 questions which might be answered on Lido page. 1 question- If our stETH doubles over time from trading/ purchasing more plus earned rewards, then will that new stETH amount be redeemable for ETH at the launch of 2.0 ?? . 2nd question. If I sell all my stETH before launch of ETH 2.0, then who gets the original ETH that was staked (validator? Staking pool? Lido? Back into the ETH supply?) 🤙🏻
The rewards just get added to your stETH balance so if the balance doubles, I would assume you will get a corresponding amount of ETH 1:1.
If you sell all of your stETH, not sure where the staked ETH would go. Good question
stETH is basically a 1:1 voucher for ETH. Whoever owns the stETH when Ethereum 2.0 goes live can then trade stETH for ETH 1:1. The "original" ETH that you had is owned by the smart contract, along with everyone else's ETH who chose to stake and get stETH in return. That ETH will go into the possession of whoever uses that smart contract to trade stETH for ETH when Ethererum 2.0 is live.
You can think of this as a brokerage and stock transaction. You have cash, you go to a brokerage and buy a stock -- the brokerage now has your cash in their account and you have a stock certificate. You can redeem the stock certificate for cash (at the stock's current value) at any time via the brokerage, or you can sell the stock certificate to someone else (also at the stock's current value). If you sell the stock to someone else, the "original" cash is still in the brokerage's account. At some point, the new owner of the stock certificate may go to the brokerage and redeem it (sell it), in which case he receives cash. The analogy here is cash = ETH, stock = stETH, and brokerage = smart contract.
The one difference here with Ethereum 2.0 is (in the analogy) that you cannot redeem any stock certificates you hold at the brokerage just yet. You will have to wait 12-18 months to redeem them. However, if you really need cash before then, you can sell the stock certificate to someone else and receive cash. If instead, you just hold the stock, the stock will be slowly going up in value.
@@somejoe7777 Excellent analogy!!!
@@somejoe7777 Excellent work!
great detailed explanation - was wondering about the stETH liquidity!
Why is the price for steth 300$ LESS than eth in confused I thought it was pegged 1 to 1
Anyway to unstake?
I’m not able to shake on my ledger nano s , is this only available for the x version? Thankyou for the great video
Cryptodad, I'm waiting for your review on Liquid staking on StaFi, please I need your opinion.
Great video contents with real example. Thanks
Great insight! Thank you
How to you convert back to ETH when you want to un stake please?
Best explanation 👍
Thanks for your sharing 👍
Im not 100% sure I got it right so please correct me if I misunderstood something. First thing cme to my mind was that you get the same amount in stEth for your Eth. But current price is 1Eth = 0.95 stEth. So you immeditly make 5% loss with an annual interest in staking of 4%, plus you have risk Lido gets wrecked somehow, plus you pay the transaction fees for swapping from Eth to stEth and later from swapping back from stEth to Eth. So bad deal imo!
Glad someone pointed this out. It seems too easy to lose at least 5% in fees in order to get a 5% return after one year. I guess you really need to be prepared to stake for the long term but that 1 / 0.95 conversion can be avoided by using other services
Any new updates with eth now that 2.0 is out???
Thanks Rex, Have I got this right. Lido could just disappear with your ETH & you've no comeback.
Yup. I would think the same too.
@@thecryptodadyoutubechannel9327 ^ ^ ^ SCAMMER ALERT
I would like to know this too
can you see your staked eth income you are making? if you can only see the balance you cant tell how much is just the price of eth increasing vs the increase in balance due to staking money added...
how can you unstake from lido???
Can I lose my ETH if I stake using ledger live? That’s all I really care about.
i notice that you are using a 3rd party cable for your ledger. i have always thought that we need to only use the original cable.
^ ^ ^ SCAMMER ALERT
How do you claim your staked eth back 😬😬
how can you sell your st eth on exchanges Imediately?
great video!!
How do I use USDT on my Nanao X to keep the prices stable if the market goes south, not really sure to buy USDT coin for 1 dollar, not really understanding the concept, does the Nano X support USDT natively or I have to buy it?
it supports USDT but if you want 100% stability, USDC is the way
Be aware, ETH is close to merge with the Beacon Chain, that will make possible the swap from stETH to ETH
would luv u do a video on kiln staking eth in ledger live
Unfortunately, Kiln does not support pool-staking for US residents. The only option available is native staking, but you need 32 ETH to do that, and unfortunately I don't have 32 ETH.
Why does my ETH shows higher in Lido history balance than ledger live portfolio?
Any update about the topic?
Hello, 1 year past , you know how to sell Seth to eth ? TKS
Hello sir. I have staked ether on lido . When i enter lido rewards i see in the type section rewards as i scroll down i see rewards and the interest i have gain on 4 of the transaction i see staking with no rewards only in the change section i see the amount when i tap on the staking it takes me to etherscan and it shows the status success. Why is not giving me rewards would appreciate you explaining or if i have done an error. Thank you
Thank you, Crypto Dad!
@@thecryptodadyoutubechannel9327 ^ ^ ^ SCAMMER ALERT
Very helpful! Do you have any idea what exchanges would accept STEthif I wanted to sell? Thanks!
www.coingecko.com/en/coins/lido-staked-ether#markets
Most of these are DEFI sites. I believe you can use Paraswap from within Ledger Live
Thanks for your comment,,,,,, feel free to text me on💌💌
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^ ^ ^ SCAMMER ALERT
Does this mean my steth is automatically compounded?
What stops me from staking 10 ETH, get 10 stETH which I swap for 10 ETH, stake that 10 ETH again and now I would get stETH rewards from 20 ETH instead of 10?
Great video. ty
What do u do if u claimed flare tokens to your ethereum on ledger live?
Five stars for, "crux of the biscuit!" Obviously, a Zappa fan!
The crux of the biscuit.... is the apostrophe!
Thank you brother Rex 😀👍
Thanks for your comment,,,,,, feel free to text me on💌💌
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thank YOU REX!👍
Thank you CryptoDady for all your videos.
Please can you do a video, or link us to a video you trust, on how to UNSTAKE Ethereum in Ledger Live Using the Lido App?
How to Unstake Ethereum in Ledger Live from Lido.
Thanks again and very much appreciated.
Peace.
how to return staked eth back to ledger?
Is it possible to lend stETH? If yes, where.
Thanks for your comment,,,,,, feel free to text me on💌💌
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how u unstake?
Is it possible how to use stETH with Zerion ? Thanks in advance
@@thecryptodadyoutubechannel9327 ^ ^ ^ SCAMMER ALERT
Say i stake 1 eth for 1 steth then trade my steth for an eth then stake my second eth wont i have 2 eth staked .and just do this forever.