how to stake shiba inu on ledger nano x

To stake SHIB on Ledger Nano X, users must install the Ledger Live app, add the Shiba Inu (SHIB) app to their Nano X, fund their wallet with SHIB, access the SHIB app on their Nano X, delegate their tokens to a validator, and monitor their staking rewards.

Oct 21, 2024 at 07:41 pm

Step-by-Step Guide to Staking SHIB on Ledger Nano X

Step 1: Install the Ledger Live App and Create an Account

• Download and install the Ledger Live app on your smartphone or desktop computer.
• Connect your Ledger Nano X hardware wallet to your computer using the provided USB cable.
• Create a new Ledger Live account or log in to an existing one.

Step 2: Install the Shiba Inu (SHIB) App on Your Nano X

• Open the Ledger Live app and navigate to the "Manager" tab.
• Click on the "Catalogue" and search for "Shiba Inu."
• Install the Shiba Inu app on your Nano X by following the on-screen instructions.

Step 3: Fund Your Nano X with SHIB

• Transfer SHIB tokens to your Ledger Nano X wallet.
• You can purchase SHIB on a reputable exchange like Binance or Coinbase and send it to your wallet.

Step 4: Access the Shiba Inu App on Your Nano X

• Open the Shiba Inu app on your Nano X.
• Verify that your Nano X displays the correct SHIB balance.

Step 5: Delegate Your SHIB to a Validator

• A list of validators will appear on the Shiba Inu app.
• Choose a validator with a stable performance and competitive rewards rate.
• Select the validator and tap on "Delegate."

Step 6: Confirm Delegation

• Review the delegation details before confirming the transaction.
• Input your PIN on your Nano X to authorize the delegation.

Step 7: Monitor Your Staking Rewards

• Your SHIB tokens will begin earning rewards based on the staking period and validator performance.
• You can monitor your rewards by accessing the Shiba Inu app on your Nano X or via the Ledger Live app.

Additional Notes

• The minimum staking amount may vary depending on the chosen validator.
• There may be a waiting period before you receive your first staking rewards.
• Staking does not guarantee returns, and your SHIB tokens are subject to market volatility.
• It is recommended to research and choose a validator carefully before delegating your SHIB tokens.