How to use Polkadot (and stake) with Ledger Live Print
Modified on: Thu, 29 Sep, 2022 at 4:15 PM
Start your staking journey or explore more information about staking on Polkadot's Home Page. Discover the new Staking Dashboard that makes staking much easier and check our extensive article list to help you get started.
What to know before starting
- Nominating currently requires a minimum of 10 DOT staked funds on Polkadot (0.1 KSM on Kusama). Please make sure you are above that minimum or you won't be able to nominate.
IMPORTANT: Not all nominators with over 10 DOT will get staking rewards. The minimum amount needed to earn rewards is dynamic and can be found on the Targets page on Polkadot-JS UI. Please refer to this referendum for details.
- There is also a maximum of 50,000 nominators in place at the moment. That means, if there are already 50,000 nominators, you will not be able to nominate, even if you have more than the minimum amount staked. You can double-check the current number of nominators on the Staking Overview page.
- If you are staking above the dynamic minimum amount and still aren't receiving rewards, it's possible that your account needs to be re-adjusted by calling an extrinsic. This is due to the new bags-list feature. You can find instructions on how to fix this here.
IMPORTANT: In order for Ledger Live to work properly with your Polkadot account, make sure you've installed version 2.32 or above. To check your version go to Settings > About.
How to use Polkadot with Ledger Live
Before you begin staking, please pay close attention to these important points:
- Do not bond ALL your funds. Leave a small amount transferable in your account, so that you can pay transaction fees from that (changing validators, bonding more or unbonding your tokens are all transactions that will cost a small fee).
- Any changes you make will take affect in the next era (which lasts 24 hours on Polkadot), provided you made the changes at least 4 hours before the era ended (whether it's setting up staking for the first time, or changing your validators, bonding more funds, etc), and rewards are distributed after an era ends. So, when you first stake, your rewards will begin to come at the soonest after 1 day and 4 hours, and at the latest after 2 days.
The following video explains how to stake DOT with Ledger Live. You can also refer to the instructions on Ledger's website.
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Disclaimer: We always strive to provide you with the best support we can and we take all care to ensure that our instructions are accurate and concise. However, following these instructions properly, as well as the general management of your accounts and funds, is ultimately your responsibility. Web3 Foundation cannot be held liable for any accidental loss of funds or any other damage you might incur.