Key Facts: “Earn” is now accessible for desktop PCs. Its mobile version will be announced soon. Currently, “Earn” provides support for Solana (SOL), Ethereum (ETH), and Cardano (ADA), among others. This article contains referral links. Know more. Ledger, through its Live application, opens its new ‘Earn’ section to all users. This feature, which is available for desktop devices, allows staking cryptocurrencies while in possession of a Ledger hardware wallet. Its mobile version will be released in the future. Ledger Live, an application that allows you to manage cryptocurrencies and NFTs deposited on a Ledger device, will allow staking of digital assets on multiple chains. According to Ledger, new passive income functionalities will be enabled in the future.
“The “Earn” section of the Ledger Live app allows you to stake assets, track rewards, and discover staking opportunities across chains without having to navigate multiple platforms and interfaces and maintaining self-custody of your assets.” Ledger, blog announcement.
Currently, Ledger Provides support for the networks of Solana (SOL), Tezos (XTZ), Ethereum (ETH), Cosmos (ATOM), Lido Token (SETH), Near (NEAR), Cardano (ADA) and their respective cryptocurrencies. According to the statement, the company intends to add support for more networks and cryptocurrencies in the future.
The cosmos cryptocurrency (ATOM) has the highest annual percentage yield (APY) followed by solana (SOL) and near protocol (NEAR). Source: Ledger Live For Ledger, the usefulness of designing a staking functionality in Live lies in the fact that users will be able to obtain passive income without removing your cryptocurrencies from the hardware wallet. This would help maintain the security of the funds and facilitate portfolio management. Currently, the dashboard of the new functionality is in beta phase. Ledger claims to be willing to improve and optimize the Earn interface, which is why it enabled the following form to collect opinions and comments from users interested in sharing them.
The form has various questions and scales for the Ledger user to rate their experience using Earn. Source: Ledger.
What is staking?
Staking is a way to participate in validating transactions and maintaining the security of a network’s public ledger in exchange for receiving cryptocurrency rewards. This is an investment method in which the funds are blocked for a certain period. CriptoNoticias has a cryptopedia dedicated to staking, specifically on the Ethereum network. Visit it to understand in greater depth how this investment method works.