Earn Money by Lending Crypto Assets With Ledger | Ledger (2024)

FAQs

Earn Money by Lending Crypto Assets With Ledger | Ledger? ›

Select the Ledger option. You will then be able to lend your tokens secured by your hardware wallet. Lending permits you to deposit your tokens into a smart contract in exchange for cTokens (Compound) or aTokens (Aave). These represent your claim to the assets and interest.

Crypto lenders can generate passive income on their crypto holdings at rates that are generally much higher than rates on savings accounts. It can also be a more flexible alternative to crypto staking, which involves locking up crypto and pledging it to a blockchain security protocol.

Staking coins with Ledger Live

Buy crypto through Ledger Live (with our partners) or transfer your funds to your Ledger device from an exchange or another wallet. Click the Earn rewards button on the account of the coin you want to stake.

A Ledger wallet, combined with the Ledger Live app, is the best way to easily grow your crypto assets – with industry-leading security.

Which crypto can you sell through Ledger Live? You can only sell your Bitcoin using Ledger Live and our partner Coinify. Can I sell Bitcoin for cash? You can sell Bitcoin for cash on exchanges or through Ledger Live and move it to your bank account.

For crypto owners, staking is a way of being rewarded for participating in the network. Ledger lets you safely stake different coins directly through Ledger Live. Find out how to use compatible wallets by clicking on their names below.

Solana Staking Rewards

The current annual yield on Solana is around 5%, minus the validators' commission rate.

What to know before staking. Nominating currently requires a minimum of 250 DOT staked funds on Polkadot. Please make sure you are above that minimum or you won't be able to nominate.

Staking Polkadot offers an average return of 14%.

Ledger crypto wallet devices are supported by the Ledger Live app, which you can use to manage your assets. As an affordable cold storage device with innovative features that are continuously improving, the Ledger crypto wallet is our pick for the best crypto hardware wallet and among the best crypto wallets overall.

Is it safe to store crypto on Ledger Live? ›

Secure Element

Using this chip ensures that no one could access your funds should they manage to get physical access to your device. Ledger is the first–and currently the only–hardware wallet company to use a Secure Element to store private keys. To learn more, check out the full article on the Secure Element.

The Takeaway

A Ledger wallet for digital currencies can be used to hold crypto in a more secure manner. Cold storage is considered to be the ultimate in blockchain security measures.

Ledger is a 100% open-access journal, meaning that we do not charge individuals, libraries, or anyone else to view the articles we publish. That being said, even an electronic-only journal has costs, including staff, hosting, and associated fees.

This article explains how to sell your crypto with BTC Direct through Ledger Live. You can sell BTC, ETH, XRP, USDT, and USDC.

Are there limits to the amount of cryptocurrency I can deposit and withdraw? There are no deposit or withdrawal limits for the Ledger Nano S. Being a hardware wallet, the Ledger does not really store the cryptocurrency, but your private keys associated to them.

Is Crypto Lending Safe? Cryptocurrency lending is a double-edged sword. On one hand, most loans are collateralized, and even in the event of a default, lenders can recoup their losses via liquidation. They also offer much higher interest rates on deposits than traditional bank accounts.

Crypto lending is a great way to earn interest on your crypto while having access to cash. Platforms like Nexo and SALT Lending allow you to borrow cash or stablecoins using your crypto as collateral. These platforms use your crypto as collateral to lend you money or stablecoins, which you can use as you wish.

Crypto lending is a way for you to earn some interest with cryptocurrency if you have it sitting in your wallet and don't plan on selling your assets. This way, your digital currencies can offer you some value in return.

Risk of Platform Insolvency

In crypto lending, deposits are not insured by any federal deposit insurance, and you might lose all your money if the platform provider goes insolvent.