Ledger Staking Review 2025: Pros, Cons, Comparisons

Ledger is the best-selling hardware wallet on the market, as it offers numerous advanced features, including staking through third-party providers. Investors can stake Solana, Ethereum, Cardano, Polkadot, and additional cryptocurrencies using Ledger wallets. As a hardware wallet, Ledger is known for its security and is a safe option for managing staked crypto.

Our Ledger staking review will take a deep dive into the wallet and provide an overview of its pros and cons. This will help you determine if it is the right wallet for earning rewards via staking.

What Cryptocurrencies Can You Stake on Ledger?

Ledger supports the proof-of-stake (PoS) model for up to 8 cryptocurrencies, including Solana, Polygon, and Cardano. This allows users to earn passive income while securely storing their crypto in a hardware wallet.

Ledger does not offer native ETH staking but allows users to stake via third-party providers like Lido, Stader, and Kiln. However, users can stake cryptos like SOL and ADA via Ledger Live without having to transfer funds externally. As there are no staking requirements for these tokens, the average retail investor will be able to participate without needing an outside pool.

Typically, to stake on the Ethereum blockchain, you need a minimum of 32 ETH to become a validator. While some wallets have this requirement, Ledger uses third-party providers that enable staking with much lower thresholds.

Lido and Stader are liquid staking providers and have removed this requirement. These providers create a pool, and once 32 ETH have been collected into this, create a validator node and stake the tokens. Investors then receive stETH rewards in return based on the amount they staked.

Kiln is a pooled staking option, which has a minimum requirement of 0.05 ETH. By joining a staking pool, investors participate collectively rather than staking as individuals. No liquid tokens are given in pooled staking as the staked amount is locked.

Ethereum founder Vitalik Buterin has recommended lowering staking requirements. If implemented we could see more direct staking as opposed to using third parties.

Ledger’s Supported Cryptocurrencies:

Here are some of the main cryptos available to stake on Ledger.

• Ethereum (ETH)
• Solana (SOL)
• Cardano (ADA)
• Polkadot (DOT)
• Near (NEAR)
• Cronos (CRO)
• Cosmos (ATOM)
• Polygon (MATIC)

Ledger Staking Rates

The staking rates on Ledger are competitive compared to industry averages. Rates depend on the individual token and live network activity. More established cryptos typically have a lower APY, with newer projects sometimes offering rates of 100% or even 1,000% APY.  For example, BTC Bull Token is a new presale that has an APY of 461%. SOL which launched in 2020, only offers 7.11%. As tokens mature, rewards from staking typically fall due to the lower rate of volatility.

Staking ETH via liquid staking on Lido yields an average return of 3%, while Kiln’s pooled staking service offers an average of 3.5% APY. SOL has a higher APY of over 7%, and ATOM, depending on market activity at the time, has a 21% return. ADA has a 2.7% APY, which is highly competitive based on the industry average of around 2%.

How Competitive Is Ledger Staking APY?

Ledger’s staking APYs are competitive but vary depending on the crypto and staking provider.  ETH stakers on Ledger receive a higher APY than Coinbase (2.16%) and Binance (2.65%) but are in line with Trezor (Ledger’s main hardware wallet competitor) at 3.52%.

For SOL, Coinbase beats Ledger with 7.76%, but Ledger offers a slightly higher rate than Binance’s 6.96%. Ledger offers a better rate of 2.7% for staking ADA than Coinbase, which offers 1.78% APY.

Overall, Ledger offers similar rewards to other major wallets, and you can get slightly less or more depending on the token you’re staking. However, some platforms provide even higher APYs.

For example, the Web3 app Best Wallet has higher APYs across the board, especially since it allows you to stake on exciting new ICOs.

For example, the Solaxy ICO has raised over $20 million this year, and users can stake SOLX for 205% APY. BTC Bull Token (BTCBULL), also on Best Wallet, provides high staking rewards of 461%. These presale staking rewards decrease as more tokens are staked, but early investors can lock in these high APYs early.

Is Staking on Ledger Safe?

Ledger wallets are renowned for their security and provide one of the safest ways to stake cryptocurrency. As a self-custodian hardware wallet, investors’ private keys remain offline. This significantly reduces the risk of wallet drainers, which target crypto wallets. In 2024, approximately $500 million was stolen through wallet drainers.

Figures from Chainalysis show that the number of hacks peaked last year at 303, with $2.2 billion stolen as a result. Centralized exchanges (CEX) were the most attacked, which means demand for platforms like Ledger could rise.

By using a physical self-custodian wallet, users have more tangible control over their crypto. Ledger devices come equipped with PIN access and a 24-word recovery phrase. This phrase is shown during the initial setup, and it is encouraged to note it down before hiding it for safekeeping.

Ledger’s Nano S is a best-selling hardware wallet, while models like Nano X and Stax offer a paid recovery option. This allows users to recover wallet access should it be lost or stolen. In total, Ledger has sold over 7 million wallets, and none have ever been hacked, according to the company.

A user recently reported losing 10 BTC in their Ledger wallet. However, the company said the user unknowingly was the victim of a phishing attack. Ledger added, “We strongly encourage users to follow best practices and regularly review token approvals to ensure their assets remain secure.”

How to Stake on Ledger

Staking on Ledger is relatively simple. Let’s go through the steps to help you get started.

Step 1: Connect your Ledger wallet to Ledger Live

Start by connecting your Ledger wallet to the Ledger Live desktop app. You will be prompted to choose your wallet type: Stax, Flex, Nano S (+), or Nano X.

Step 2: Select the cryptocurrency you want to stake

You’ve connected your wallet and are now in Ledger Live. Select the “Staking” tab to see available staking options. Choose the cryptocurrency you want to stake.

Step 3: Enter the amount to stake and confirm

The next step is to enter the amount of crypto you want to stake. Depending on the APY at the time, you will be given an estimated rate of return. If you are happy, proceed.

Step 4: Monitor rewards through Ledger Live

Once staking is complete, you can track your staking rewards and make adjustments. Some assets may require manual claiming, while others distribute rewards automatically to your wallet.

Is Ledger Staking the Best Crypto Staking Platform?

The Ledger staking wallet is a good and secure option for earning rewards across some major cryptocurrencies. Ledger’s hardware option makes it one of the safer options when staking crypto, but some of the APYs on offer are relatively lower than other wallets.

One platform that offers a greater variety of coins, higher APYs, and complete anonymity is Best Wallet, a Web3 app available for iOS and Android.

As well as offering staking on all top cryptocurrencies, Best Wallet allows users to stake upcoming tokens in the ICO stage, something that is not possible with Ledger. As of writing, Best Wallet is offering access to tokens like Solaxy (SOLX). Solaxy has raised nearly $20 million in its ICO and currently offers impressive rewards of up to 205% APY.

BTC Bull Token is one of the best new crypto tokens on Best Wallet and is offering sizeable returns for early investors. It has an APY of 461%, which is significantly higher than any staking rewards offered by cryptos on Ledger.

There are over 60 chains on the Best Wallet app, from Bitcoin and Solana to Ethereum. Investors can buy listed tokens from each ecosystem, utilising the anonymity of the platform.  Best Wallet is also a non-custodian wallet, meaning that only you are responsible for managing it.

Additionally, Best Wallet is also launching its native token, BEST. The BEST token is trading at $0.023975 and has already raised a total of $10.7 million.  The BEST token offers an APY of 171%, which is higher than any staking reward offered on Ledger.

Conclusion

Ledger offers a secure way to earn a passive income through crypto staking. It has a wide range of cryptocurrencies available that offer competitive APYs. Having a hardware wallet gives users an offline solution to storing crypto and reduces the risk of hacks.

However, we believe Best Wallet is an all-around better alternative for new and experienced investors. It is connected to all major blockchains and offers emerging presales with higher staking rewards. For more information on Best Wallet, follow the link below.

Visit Best Wallet

FAQs

References

1. $454 million stolen via crypto wallet drainers (The Block)
2. Ledger user loses 10 BTC in a phishing attack  (CoinTelegraph)
3. Vitalik Buterin supports lowering staking requirements (CoinTelegraph)