ETH-Einsatz mit Lido und Einsatz von anderen Münzen

This question is un-related to ledger.

When you stake a coin, the coin must be transferred to a „validator“ and locked there for a certain time. The validator will share parts of the rewards with people who stake coins on their validator node.

In some cases (e.g. liquid staking with Lido or Rocketpool), you will be given a token that represents (i.e. is backed by) staked coins, and that can be exchanged at any time for the original coin at „market price“. So in that case you are in control of a token that „represents“ staked coins.

You are not holding ETH anymore. Your keys, your stETH/wstETH. BUT, if Lido platform gets hacked or something like that happens, it will not be worth what they claim to be. ETH is in the hands of lido, and stETH is in the hands of yours.

I’d start with the ledger site for information:

https://support.ledger.com/hc/en-us/articles/4406882832401-Staking-ETH-in-Ledger-Live-with-Lido?docs=true

You are given stEth in its place. There’s so much liquidity that swapping it on a dex back for eth is simple enough at any time. stEth will show in your ledger under eth account.

Im with OP on this. Its incredibly tempting to stake and i wish i did it sooner (then again i might’ve chosen Celsius or similar and lost my hard earned btc or eth. Its a tough time to stake with regulation by unelected tradfi douchebags calling the shots and their #1 nemesis right now is defi. They just can’t compete with the honest model of defi so they must crush it to gain control and dominance.

Hey – when you stake your assets with Ledger, you still own the coins. Staking is a process where you lock your coins in a wallet to support the operations of a blockchain network. While your coins are staked, they are still yours, but they are temporarily locked to secure the network and earn rewards.

Similarly, when you stake your ETH using Lido through Ledger Live, your ETH is pooled with funds provided by other users until the pool reaches 32 ETH. Lido then sets up a validator node by depositing the ETH into Ethereum’s staking contract.

To compensate for the loss of liquidity, Lido provides you with stETH tokens equivalent to the amount of ETH staked plus daily stETH rewards. These stETH tokens are liquid and can be freely traded and transacted in and out of your Ledger wallet like any other ERC20 tokens.

So, while your staked ETH is locked in the staking contract, you receive stETH tokens that you can control and trade freely. For more detailed information, you can refer to this article:
https://support.ledger.com/hc/en-us/articles/4406882832401-Staking-ETH-in-Ledger-Live-with-Lido

Let us know if you’ve any other questions.