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Yes, well, kind of.
You can stake stable coins like USDT, UST, USDC, DAI etc. For example, buy stable coins on your exchange, move your stable coin to your ledger ETH account, then put them in Curve Liquidity pools, then stake your Curve LP tokens on Convex to get boosted rewards. If you do that, the APY is currently 10-30% depending on the Curve pool. Definitely better than a saving account!
There are many other, similar ways, on other chains too, not just on ETH.
DYOR and study DeFi.
Note that this has nothing to do with the ledger, and can be done with any non-custodial wallet.
> And if so is it advisable to do it?
> Is it better than leave your money in the bank where it gets devalued by the day?
It depends on your appetite for risk.
Until Central Banks issue digital currencies on blockchains, you have to use stable coins, so there are risks involved, at several level: stable coins loosing their peg, bug in LP contracts etc. There are ways to insure yourself against some of the risks (e.g. with Nexus Mutual).
> And can I acces the money quickly in case I need it?
Yes, in matters of minutes. Nothing is locked.