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This article explains how to stake the Cardano (ADA) stored in your Ledger Nano S, Ledger Nano S+, Ledger Nano X, Ledger Stax or Ledger Flex hardware wallet via NuFi wallet.NuFi is a non-custodial Cardano/multi-chain wallet that supports native Cardano staking (i.e. direct to the blockchain with no middleman).Any ADA you stake remains in your hardware wallet's Cardano account (it never leaves your wallet and you retain full ownership and control of your ADA at all times).TABLE OF CONTENTS
What is Cardano Staking?
Staking means using your ADA's intrinsic voting power to support the security and operations of Cardano blockchain. In a nutshell, it's how Cardano remains decentralized.
- While staked, the ADA in your wallet can be used by the blockchain to 'vote' when the blockchain needs to make a decision.
- For example, when verifying new transactions and deciding if they should be included in the next block.
- By voting, staked ADA helps Cardano blockchain to reach a consensus without giving authority to a single entity.
- As a thank you for staking (and helping the blockchain run in a secure and decentralized way), you earn rewards in the form of additional ADA tokens.
- Staking rewards are paid directly into your stake account by the blockchain itself.
When you stake Cardano via NuFi wallet:
- Your staked ADA never leaves your wallet and you retain full ownership
- Your staked ADA is never locked or frozen, and can be spent or transferred anytime
- Your staking rewards are re-staked automatically
- You can choose the validator you want to stake to
- You can have multiple stake accounts
- There's no minimum staking period
- You get same-day customer support via email, X and Discord
Setup
1. Create a NuFi wallet
Before you can stake ADA using a Ledger hardware wallet, you need to create a NuFi wallet profile and pair your Ledger's Cardano accounts.
This will 'import' (restore) your device's Cardano accounts into NuFi wallet's interface, while your funds remain securely in your hardware wallet. You can also pair your Ledger device's Bitcoin, Solana, Ethereum, EVM and Flow accounts.
There are two versions of NuFi wallet:
- a browser extension that you install from Chrome web store; and
- a web-based wallet accessed via a URL (nothing to install).
Both versions support Cardano staking for Ledger devices and both connect you to Cardano DApps; the browser extension connects to all Cardano DApps and the web wallet connects to any DApp that supports WalletConnect.
2. Pair your Ledger device's Cardano accounts with NuFi wallet
- Open NuFi wallet's browser extension or visit wallet.nu.fi
- Click 'Pair hardware wallet' on the first screen
- Follow the on-screen instructions to create a NuFi wallet profile and pair your Ledger device's Cardano account(s); this will restore the accounts into NuFi wallet's interface
- When you restore your Ledger device's Cardano accounts, you can restore multiple accounts at the same time by checking the box on the left side. You can also choose a name for each account.
- You can pair your device's existing accounts or create new accounts at any time from Portfolio > Accounts tab > Add account, as shown here:
Create a stake account in NuFi
When you have paired your Ledger device's Cardano account in NuFi, you can start staking. To do that:
- Click Staking on the left-side menu in NuFi wallet.
- Click the 'My Staking' tab at the top.
- Click 'My Staking' for Cardano blockchain.
- Click 'Stake' on the account you want to use.
- Choose a stake pool to stake to (or use the recommended one); your account's entire ADA balance will be staked.
- Confirm the transaction in NuFi wallet and then review and approve the transaction on your Ledger device.
You'll find your new stake account (and any other stake accounts you have) on your Cardano staking dashboard.
About staking rewards
- You'll receive your first ADA staking rewards in 15-20 days after you start staking, and then every 5 days thereafter.
- Staking rewards are automatically staked when you receive them in your stake account.
- You can withdraw earned rewards at any time; this moves them from your stake account to your available balance, where they can be spent or transferred.