After Cardano has successfully entered the Shelley era, it is time to talk about staking. In particular about staking with a hardware wallet from Ledger or Trezor. Adalite.io was the first provider where you can easily stake directly with your hardware wallet and keep your keys safe.
The process itself is really simple, but we need to make sure that all prerequsities are fulfilled. Please make sure that your Ledger is initialized and its firmware as well as its Cardano app is up to date, by checking it in Ledger Live. Trezor Users also need to make sure that their firmware is up to date.
- Go to adalite.io
- Choose the option Hardware Wallet
- Connect your Hardware Wallet, Ledger users need to enter the PIN and open the Cardano app.
- Select Unlock with the device of your choice.
- Follow the procedure to export your public key (this request will happen twice on the ledger)
- Now you see a staking balance and a non-staking balance, here you need to select convert to stakable
- Check and confirm the transaction on your device. What’s happening here: Your ADA from your Legacy Byron Wallet will be transferred to your Shelley Wallet for staking. The receiving address is the one with the index /0 in AdaLite on the Sending tab under My Addresses. Make sure it matches with the address shown by your ledger.
- You can now enter your Stake Pool directly on the right side. If I helped you with this little guide, you are welcome to use my pool: 6b51a5aae5b4b5f07f38acf12816b4f8a558ee2840d0dba69040aeb2
You also have the advantage of very low fees of 0.5% and therefore get higher rewards than in other pools. You will see the information about the pool and can complete the process by clicking the Delegate button.
If you rather want to stake with another pool you can check them out at adapools.org, cardanoscan.io or pooltool.io
- Check and confirm the delegation on your device.
If everything worked adalite will now display your current delegation.
Congratulations, you are now a stakeholder and will soon receive your first rewards.