How To Stake Solana (with Ledger) To Earn Passive Income: Full Beginners Guide

[@adamventure]

Let us know if you have any other tips and tricks about staking Solana!

[@stultuses]

WTF (in a good way) :-) This video was posted 1 month ago, and yet the author still answers people's questions from a day ago !! Most channels don't do this, after a few days they typically stop responding to questions You get my subscription based on your attention and attitude towards users Your video comments, timeline and links is also top quality - keep up this excellent work

[@adamventure]

Thank you for the kind words I really appreciate it! I love to read and respond to comments, a lot of you guys have some really wonderful things to say. I always try to make these as info packed as possible and have everything you need. Glad to have you on board - more of these to come!

[@ianhemphill861]

Just purchased ledger nano X and used your setup guide for it. Gonna try my luck with Solana. Thanks adam

[@adamventure]

Awesome I'm glad to hear both videos were helpful! Should be smooth with Solana its a very user friendly blockchain

[@baonghiem9446]

When you purchase Sol from a platform (Binance for me), you transferred it to Phantom. At what point does it store on your ledger? Thanks

[@adamventure]

As soon as it hits your wallet! If you set it up like I showed, stored on Phantom = stored on Ledger

[@baonghiem9446]

@@adamventure plan on taking a pretty substantial position on Sol. Just need to make sure it was safe in the event that certain platforms go bankrupt…like voyager.

[@adamventure]

@@baonghiem9446 I totally hear you, the Ledger is a great way to do that! Just keep your seed phrase safe

[@TheRealFutureMillionaire]

Do you suggest we stake our Sol with ledger by figment itself or any validator within Leger live safe?

[@adamventure]

You can pick whoever you want if you do your research but the official Ledger validator is safe

[@ToneCrushers]

Great tutorial. Gave me everyting I needed to know to stake my SOL. Thanks!

[@adamventure]

Awesome that's exactly what I was going for! I'm glad this helped

[@catdaddycoins]

when you stake on ledger can you choose any pool or delegator or are you limited in who you can choose/returns you can get because of the hardware wallet?

[@adamventure]

You have the full functionality of staking so you can choose whoever you want! You can also stake straight from Ledger Live now as well. The only way you wouldn’t get to choose is if you did the liquid staking option

[@catdaddycoins]

@@adamventure awesome to know! thank you!!

[@Rlavington24700]

at 17:01 which token are you talking about that can go "Poof" (it's all gone). the SOL token or the mSOL token??? if I stake my SOL tokens under the protection of my Ledger then my SOL tokens should be safe ?? and it does not matter it the 3rd goes bust or rug pulls ?? Thanks

[@adamventure]

I was referring to the mSOL token, if your stake your SOL natively with Ledger your coins will be safe! Black swan events aside, of course

[@Rlavington24700]

@@adamventure thank you for your reply. So worse case I could lose all of my mSOL, but my original SOL token would be safe (if protected by a hardware wallet). Excellent videos, very well put together and well presented! 👏

[@adamventure]

@@Rlavington24700 oh I see what you're saying, no if mSOL goes down you'd probably lose the SOL you traded for it since its not native staking. You're basically trading your SOL for a token that appreciates at the same rate as native staking. EDIT: and thank you for the kind words I'm glad this was helpful!

[@Rlavington24700]

@@adamventure right, then I'm not going to take the risk, if the mSOL can tank at any monent then it also means that you could lose your original SOL that you swaped for the mSOL? So i will simply continue to stake my SOL with a single validator using the Phantom Wallet. I was basically just looking for a way to get more ROI for my already staked SOL. Thanks

[@adamventure]

@@Rlavington24700 ah I see, no you can't gain any more rewards than native staking. That's the risk vs reward trade off. Glad we cleared things up!

[@johny_bravo9970]

How would I calculate stake gains ev month if I wanted to dip in with 40k for example

[@adamventure]

Not financial or tax advice, but generally you'd report your cost basis for each transaction you get - usually daily. The cost basis should be whatever the price was when you received it, and of course you subtract that from whatever price you sell it to get the gain/loss

[@rolfberger]

Do you have a video where staking in general is explained or can you recommonend one?

[@adamventure]

I don't but I'd recommend checking out Whiteboard Crypto's video: kzbin.info/www/bejne/rIuVho2ad5VqnNE

[@jollygreenzz]

Howdy! First off, big fan of your account. Recently got myself a Ledger and your videos helped me all the way through setting it up. I am looking to stake my SOL and came across your video - just wanted to see if your video was still the most up-to-date method to do so. Thanks!

[@adamventure]

Hey Brock, thanks for the kind words and glad to have you on board! Yes, everything in this video is up to date and still works - I just staked more myself a few days ago using the same method

[@jollygreenzz]

@@adamventure Hi there - thanks for the reply. I really appreciate it! I have yet to check, but if you haven’t, do you think you could do a video on putting Cardano (ADA) on a ledger? I know I’d appreciate it a lot. Thanks!

[@adamventure]

@@jollygreenzz yeah of course! I can add that to the list

[@eduardobrownb.7065]

Very good video man.

[@adamventure]

You got it, glad it was helpful!

[@MrLuba6a]

Hello Adam,is there any possibilities to stake BTC on any hard wallet?thanks 😷

[@adamventure]

Great question! So BTC run on proof of *work* not proof of *stake*, so there is no staking. The closest you could get is depositing it into a crypto interest account, where they typically loan it out or use with DeFi but you cannot keep it on your hardware wallet. OR you can bridge it over to ETH, SOL, ONE, etc. and use it directly in DeFi yourself, in a defi interest account, liquidity pool, etc. Hope that helps!

[@MrLuba6a]

@@adamventure wow,thanks for the reply,Adam 👍 I stake my BTC right now on blockchain,but they reduced the % gradually

[@adamventure]

@@MrLuba6a you got it! Gotcha, yeah that's been happening across the board lately. I'll be releasing a video for best interest accounts (for US citizens) very soon if you're looking for higher rates

[@MrLuba6a]

@@adamventure Adam,you are tne man 👍 👏 keep on and good luck in the crypto world 🥳 BTW your videos are on my list 🤨

[@adamventure]

@@MrLuba6a thank you boss I appreciate that! Made my day. Going to keep it up for sure

[@SupersayianGR]

Hello! If I already stake in phantom app and just bought the ledger X, do I need to unstake and stake again through ledger?

[@adamventure]

Hey Chris! Yes that's correct, you will need to unstake, send over your SOL to the Ledger address, then restake

[@AmirCosmo]

can I use ledger live without the ledger nano?

[@adamventure]

No you really wont get much use out of it

[@jeanbrault5940]

Hi there Adam, is there a way to send LUNC from Binance to the Ledger Nano S Plus ?

[@adamventure]

Yup you can use the Terra Luna app on your Ledger to connect it to Terra Station

[@KeystoneWallet]

Hi Adam, This is Keystone hardware wallet team, Thanks for the great tutorial! Keystone will finish its integration with Solflare wallet in 2 weeks, not sure if you are interested in making another tutorial for us? Please let me know

[@adamventure]

Hey Keystone team, that's great news congrats! Would love to see Cosmos and Keplr added too. I could make a tutorial for your wallets, shoot me an email

[@plowgonewild]

what are some good liquid staking pools in your opinion?

[@adamventure]

I recommend sticking with Marinade (the creator of mSOL) to keep things simple, but Orca is another solid option if you want to experiment

[@yespaccino]

Hi Adam, Thanks for your video but, how to unstake SOL from ledger? It seems that you have to deactivate the whole staking, then withdraw the rewards, then activate it again, and you just lose 6 days of staking for that... This is not convenient to not be able to only claim rewards or maybe i missed something?

[@colegarza617]

Hey Adam, what's that desk in the background? I've been looking for a good but budget friendly standing desk for a while now.

[@adamventure]

Hey Cole, its the black 63 inch Dominion Height Adjustable Standing Desk from Wayfair! They have a bunch of great desks on there, I upgraded from the 48 inch since it was getting cramped

[@ether_lana3921]

i have tried over several weekends to get this work with no success. the ledger is open, solana is installed, allow blind sign enabled, Google and Brave browsers, no success. everytime it will not connect. i give in and will have to leave it on an exchange, hope it does not get frozen, and just trade it as and when

[@adamventure]

You could also try from Solflare itself, they have a staking option in there and work with Ledger. Besides that I would do a fresh install of everything (browser, extension, restart Ledger, etc.) and try again

[@senatoroa2161]

Hi Adam. what is the purpose of the blind sign approved on the ledger?

[@adamventure]

Hey, it basically enables the Ledger device to be able to sign transactions through a third party software wallet like Phantom, Metamask, etc.

[@christiaana1572]

can validators run with your money if you stake?

[@adamventure]

Nope, if you use native staking the SOL never leaves your wallet (only transferred into a staking account still within your wallet). If you liquid stake then yes there is that risk like I mentioned in the video

[@christiaana1572]

@@adamventure and native staking is phentom wallet and than go to staking and chose a validator and stake.

[@christiaana1572]

because what if solana slashes the validator than you lose all your coins

[@adamventure]

@@christiaana1572 there’s many ways to do native staking but yeah the way I showed with phantom wallet is one of them. If Solana slashes a validator you will get your coins back since they’re still under your control in your wallet

[@ZacksHacks]

Adam, thanks for the video! This was super helpful, especially with your question responses. I have been staking ADA from ledger for a while but am just now considering staking SOL. At the risk of offending someone’s religion, I have to say that staking ADA seems way better. No lock up. Zero waiting period when you want to use your coins. Staking additional coins is as simple as sending more coins to the staked wallet. Zero counter party risk. If you were to set up staking using Yoroi, and then Yoroi disappeared, it doesn’t matter because you can still spend your ADA from the Ledger Live (or any) interface. No concerns about staking too much and then not having enough left to pay the transaction fees to unstake it. It is just a regular hardware wallet that earns ADA. My question is what happens if Phantom disappears? Your ledger is linked to it so maybe they cannot use your SOL, but how would you unstake to recover your SOL? Again, thanks!

[@David-8643]

Hi Adam. The video was great and I understood everythin perfectly. However, I can't figure out which would be the APY in the validator you chose, for example. Thanks for your help!

[@adamventure]

Awesome I'm glad to hear it was clear and understandable! So the APY isn't set at the validator level, its at the Solana level. If you check the top of that validator list on Solana Beach (solanabeach.io/validators) it will tell you the "Nominal Staking APY" that everyone receives. The main thing at the validator level that would impact your earning is the commission that I mentioned in the video

[@David-8643]

@@adamventure thanks for your answer. I couldn't find where it was but now I do. Thank you again and keep the amazing work. You've just gained a new sub!

[@adamventure]

@@David-8643 awesome glad to have you along for the ride! I appreciate the support as well

[@trustgofficially]

thank you for all information!

[@adamventure]

You're welcome! Glad it was helpful

[@tee4680]

Hi Adam. With the ledger - what happens if the ledger dies? It doesn't give you the option of writing down the keys for the sol wallet as a backup, Any ideas? Would it be connected to the original ledger key? Thanks

[@adamventure]

If the Ledger dies you can simply restore a new device using the seed phrase it gave you when you set it up. The seed phrase for any SOL wallet is the same one you get from the Ledger, it's all connected by that one seed phrase! Just make sure you only connect it thru the device, never enter your Ledger seed phrase on them

[@CurieBohr]

great video. easy to follow. subbed. After staking, when it says activating, sol balance on my ledger dropped to near zero. that makes me nervous. is this normal? also, if SOL is on my ledger, I don't need to have the private keys to the solflare browser addon do i?

[@adamventure]

Hey thank you, I appreciate the support! That's totally normal, if you close that staking account it will show up back in your wallet. You can hook up the Ledger to Solflare so you don't need to put keys or seed phrase on there

[@bohook2309]

Freedom in 10 years. That’s the goal!

[@adamventure]

Hell yeah I'm right there with ya!

[@aleclanders335]

thanks will try it out

[@adamventure]

Yeah go for it! It's pretty easy

[@aleclanders335]

can you stake ltc the same way

[@adamventure]

No LTC uses proof of work so there's no staking.

[@Punkroyalz]

Best video on EVERYTHING SOL !

[@adamventure]

Thank you I'm glad it was informative! It's a fantastic ecosystem

[@seankim5161]

Could you please do a video on ICP and IMX with ledger thanks

[@adamventure]

Yeah I can look into that, it's basically going to be the same process. Install the app on Ledger, setup a compatible wallet, fund your account, and stake it. Here's more info about ICP: support.ledger.com/hc/en-us/articles/4412643422481-Internet-Computer-ICP-?docs=true. If you search for IMX (there's multiple but I assume you mean immutable X) on this page it'll give you a few options: www.ledger.com/supported-crypto-assets

[@coolhead8686]

"Hell No To Liquid Staking"

[@1sonjohn44]

They have now created a app in the playstore, when you click on the link you provided, via a mobile phone. Is the app legit ?

[@adamventure]

Yes they have a mobile app now but it doesn't work with any hardware wallets. Only Solflare works with Ledger and Keystone