Staking via hardware crypto wallet: Ledger exec explains how it works

2022.05.09 18:16

Staking via hardware crypto wallet: Ledger exec explains how it works

As cryptocurrency staking is growing increasingly popular, one may wonder about staking opportunities of not only crypto exchanges or software wallets but also hardware wallets.

By definition, staking allows investors to earn crypto without selling their holdings but rather by delegating crypto to a staking validator to support a blockchain. Originating from the word “stake,” the staking process refers to gaining profits and an associated passive income from crypto through a consensus mechanism known as proof-of-stake (PoS), as opposed to the mining-based proof-of-work (PoW) mechanism of Bitcoin (BTC).

Source