Chapter 3: altcoin staking

When investing I thought I had to put money in bonds too. To get yield. This is something I thought like most tech stocks, crypto does not offer. But it turned out altcoins do, yay let's try how that works and skip the bonds altogether! I bought some Ethereum and Polkadot to do some testing. Once I transfered my bitcoin to a different device (Jade) to up my security I had an empty ledger device left lying around. So I sent my Eth and Dot to it and was ready to press the staking button.

ETH- pooled staking

It turned out you need like 32 eth to get native staking. I missed that boat. The second option was to stake via a ledger third party app. To be honest this did not seem like a good idea. But curious to try it out I staked in a staking pool via Kiln. Until now I am not disappointed. The staking runs smoothly and shows up on the earn tab in ledger. Nice!

DOT - native staking

I got enough Polkadot to do some native staking. Cool - finally I can try that stuff too. A little more steep learning curve but managed to get the funds 'bonded' and staking via Ledger and Chrome. This was a lot of fun! I could nominate where to stake it, check all the validator stats. See screen shots below. Would highly recommend for you to try this out some time! The only downside is that the staking returns of DOT do not (yet) show up in the Ledger earn tab.