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How to stake Polygon MATIC through your Ledger device
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- Опубліковано 23 сер 2022
- Dan shows how to stake MATIC coins from your Ledger Ethereum account with your Ledger device.
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Nice explanation, but it completely makes no sense to stake Matic like this. Long, cumbersome and expensive process. It defeats the whole idea of what Matic and Polygon are all about.
We want to be bale to stake directly from ledger live , that would be really nice, your video has too many steps and process... specially for people who have their Matic on polygon app in ledger live
I'm trying the same thing ,it's a nightmare, yes to many steps ,I mite lost it , I'm just leaving it in ledger unit the bull market starts
Just staked directly using ledger live.
Thank you for your good video. 👌🏻
Overall, I find the process too cumbersome and too expensive. It would be nice if you could stake MATIC like ETH directly on Ledger Live. Is this planned? Until then, I will continue to stake my MATIC on Binance.
Thanks for the suggestion - we don't have an ETA for supporting MATIC staking in Ledger Live but we'll make sure to escalate your feedback to the Live team for consideration!
Also agreed that staking via Ledger + Metamask can be a bit daunting but the main advantage of doing it versus staking on Binance is that you maintain control of your private keys at all time instead of having to entrust them to Binance :)
Hope this helps clarify!
@@Ledger Thx for your fast reply. 👌 The important crypto positions (private keys) are secured. That´s why I am using my Ledger Nano X. 😉
Yes, this sounds complicated. Bitpanda is also good for staking!
Agreed! The point of getting a Ledger is increased security. The problem is that each step and each click is another point I could push a wrong button and *poof* my crypto is lost or stolen.
To compete with staking on Binance, the process needs to be absolutely simple.
The keys to my house are simple. Crypto keys are not. I'm hopeful for improvements in this space. When that happens, Crypto will take off.
Good video but too complicated due to too many steps which have to be done and could lead to a mistake.
This should be by far much more easier.
Anyway thumbs up for the good explanation 👍
Polygon needs to fix staking. It is a layer 2 to help with scaling, yet you have to use ethereum network and eth fees to stake... And not the polygon network... dumb.
Hey there - while it might seem counterintuitive to have to stake MATIC on Ethereum, this is actually a very important design decision made by the Polygon team because having your critical smart contracts running on Ethereum provides security and ultimately make Polygon safer to use.
@@Ledger True but at the same time when the bull market is back on, you will pay $60 dollar fee, to stake and again to remove to exchange, or dex swap. Other POS chains have security without those massive gas fees, or without another blockchain. I think if your a layer 2, funneling your transactions through the main chain "eth" negates the purpose of a layer 2. Mise well throw away 150 polygon each time you move it. BNB uses it's chain, and it is an EVM, and doesn't funnel though ETH.
When will ledger be able to detect staked matic and show it on Ledger live?
Not sure I would recommend anyone stake matic from the ledger. I spent hundreds of dollars in eth gas fees just to stake 2500 matic and my ledger doesn’t even show them anymore. Not sure if they’re gone or what but wish I had just kept my polygon on the exchange to earn rewards. This was confusing and not user friendly
I like that you guys have done this, but now that polygon has introduced ZKEVM, everything is different. There is a bridge and an option to move matic to zkEVM. Now that i actually have my ledger active i am trying to get my matic staked and things aren’t acting correctly for what you are showing. No signing was asked for and nothing shows up on the balance. The polygon wallet page has been changed as well. Can you look it over and maybe update it please.
can one not steak to polygon with wallet connect? its offered on polygon website?
Hi, thanks for this video. You should not put unlimited when you sign transactions, you can change it on metamask even with ledger. What % reward do you get on staking ? When we unstake do we have to wait a few days like other coins to recover our Matic ? For those who don't use ledger or metamask, you can also stake matic on Nexo at minimum 10%
Hey there - yes you're absolutely correct, Metamask will let you edit the permission, so the staking smart contract doesn't have unlimited access to your ERC20 MATIC balance, we'll make sure to include this important detail in future videos.
In case this helps, you can safely revoke permission post-staking by using this tool:
polygonscan.com/tokenapprovalchecker
Thank you for your vigilance and helping the community stay safe!
I started this process and find it to cumbersome. I already have a MATIC account on Ledger, which has the same address at my Eth. I don't know how to sent it from my MATIC account to ETH. You video skips over that. So i ended up just sending MATIC to and from the same account.
I'll come back when we can stake directly from Ledger Live.
Thanks for the video, well explained. But, when I tried to delegate, somehow is needed to swich between mainnet Polygon and Ethereum, a kind of condition for stake the Matic is to be there and not in the Polygon Mainnet.. I need more details about it. Well, the coins are safer than in the exchange, but without staking rewards. Tks anyway from Brazil
Decided I won't stake matic after this video it's too difficult. I'll just 100x leverage on binance
I sent MATIC through the MATIC chain to my Ledger and it's not under ETH. Does that mean I have to resend to Kraken and send back through the ERC 20 chain?
This whole process is ridiculous, making me love ADA more since it's so intuitive and simple to stake.
Hi, if you want to stake your Matic then you'll need to send it to your Ledger ETH account via the ETH network. You can either send your tokens back to your exchange and then send them back to your account via the ETH network.
Or you can bridge your token from Matic to the ETH network via Hop exchange. You can find instructions to bridge on our website here 👇🏻
support.ledger.com/hc/en-us/articles/4417305825809-Bridging-assets-across-Ethereum-L2s-with-Hop-Exchange
Very helpful mate thanks
So, up to now we have been told that if we send matic to a non matic wallet, it will be lost. Now you are telling us that we can just Willy Nilly send matic to an etherium wallet and we’ll be just fine? Is there a special sending format to make this take place, or is Willy Nilly the appropriate term for it?
Hi, Polygon is an Ethereum side chain and Matic token exists on both Polygon and Ethereum network. However, MATIC staking happens only on Ethereum, so you'll need to send your MATIC tokens to your ETH account via Ethereum network. And then you'll be able to stake your assets. More info here 👇🏻
support.ledger.com/hc/en-us/articles/6245402056605-How-to-stake-MATIC-with-your-Ledger?docs=true
@@Ledger Right. But you app says "Please only send ETH token to Ethereum accounts...Sending other crypto asses may result in the permanent loss of funds".
I am confused. I have Matic on Binance, but to send them via ETH network it is sioo expensive! If i send them to my Matic account on Ledger, why i can´t do that? It is the same account adress, isn´t it?
it's so lame that MATIC staking is on Ethereum and not on Polygon.
Hey - it is indeed a bit counterintuitive but it ends up making Polygon safer to use because its most important smart contracts live on the chain with the most security (Ethereum)
Hope this helps clarify!
I dont care i want this on Polygon network worst experience with leger please update other network please on legder , my flow account is not connevt to port flow app even thouh everything is updated
@@Ledger you want us to move one crypto (Matic) to a wallet for another (Eth), attach Metamask to our hardware wallet, then go to a webpage that *might* be related to polygon and attach that to Metamask.
Any you think that is just "counterintuitive"?
This video is a year old, is it still the same process now 11/30/23. Thanks
Exellent video, thank you....I have delegated the matic to several validators, however, when I want to delegate more matic to the validator, I cannot do it and I get a note: Cannot read properties of undefined (reading '0').....can you help me with this one....thanks
When u stake polygon on ledger where can I then see the staked polygon, will it still appear in my account on ledger? Or will it be only viewable on the app it's staked on
What are your thoughts on Stader Polygon? as its avalible within the Ledger Live > Discover page and it seems to be really easy to get set up. It also supports staking MATIC on Polygon Mainnet and not restricting it to ERC20. Saving people the trouble of moving MATIC to ERC20 and setting up Metamask etc.
doesnt make you eligible for possible future airdrops
@@pompi23851 actually? That sucks!
i was always under the impression if you stake using your metamask, you are authorizing a 3th party to take control of your coins when u stake!!! ?? even if you use metamask with ur ledger, the only crypto that doesnt is cardano, you crypto never leaves you ledger wallet. Please explain the difference, i want to stake all my crypto in my ledger, but dont want to use exchanges after FTX, luna scam!!! i have some on nexo staked but is that even safe??
But I will say Ledger has really stepped it up lately, and left Trezor in the dust with coin support. Keep adding them, Arweave maybe? Also ledger live is better then the 3rd party wallet, you should try to get all of those on ledger live without the 3rd party, like ada, xmr, avax, avax balance doesn't even show ;(. Good videos by the way.
Thanks for the feedback! Yes, ease of use on top of security is what we always aim for! More to come!
What a ballache. I can stake ETH directly to LIDO via my ledger so why do I need a metamask wallet to do this? Ill give it a miss.
Fees are way too high!! To withdraw matic via ERC 20 from binacne you have to pay 11 Dollar! There must be an implementation in ledger live! Otherwise its useless!
2022 and we having to go through that hard work what’s the point
How do I transfer MATIC from Polygon to Ethereum on my Ledger?
Hey, you can bridge your tokens using Hop exchange. support.ledger.com/hc/en-us/articles/4417305825809-Bridging-assets-across-Ethereum-L2s-with-Hop-Exchange?docs=true
We hope this helps and remain available should you have any further questions
Hi Sir, how to transfer Optimism (OP) in Ledger? Thanks you
Step 1 move your matic to eth account aaaand you lost me.. Not going to pay those fees sorry :)
Exactly! I wish every account on Ledger was as slick as Polkadot.
@@eddiedefro But you need at least 120 DOT to stake it right ? Which is a lot ...
@@Trimalcus , you could be right. I _might_ have over 120 DOT. My point is that of all the POS cryptos I have (ADA, ETH, ATOM, ALGO and SOL, not to mention MATIC), DOT is by far the cleanest experience on Ledger.
Don't get me wrong, if you are here you are putting your crypto on a hardware wallet and keeping it off CeFi. The Ledger apps will continue to get better and better, and staking from Ledger Live will hopefully become simpler for everyone.
@@eddiedefro ADA is pretty simple too tbh. Just sent the ADA to Ledger and then connect your Yoroi wallet and easy peasy.
How long does it take to unstake your matics? 3 days? More?
You are right, should take 3 - 4 days!
How do you stake Matic with the layer 2 network?
Interesting but how much is the yield / interest ?
9% apy
If hardware wallets give u your private keys,how do we know their not already copied???
I did exactly as wonderfully explained here. My Matic are properly shown in Metamask, but when linking Polygon Wallet it shows zero assets. I contacted Polygon Wallet support and they suggested that the tokens should be in Polygon Net, not in Matic one. Can you please check this?
Hi 👋 you'll need to switch to ETH network to stake your Matic. This article will guide you on how to stake your Matic correctly.
support.ledger.com/hc/en-us/articles/6245402056605-How-to-stake-MATIC-with-your-Ledger?docs=true
What are the rewards of staking matic on the network? I cant see any information about that
yeah that is the main question!!! :)
Hi there, the current APY for staking Matic is 6.58%. More info here 👇🏻
polygon.technology/staking/#:~:text=Stake%20now%20and%20earn%20rewards
if i stake does the balance show up on my ledger account?
Great video...Thank you Friend. Cheers
Very helpful video. I am a bit confused. I have a small amount of mattic in my Ledger account, I also have a larger amount of Mattic in my ethereum account on Ledger. When I connect the polygon wallet app through my Metamask, I only can see the smaller amount in the Polygon App. I do not see the larger Mattic amount. I disconnected several times to see if I could replicate what I say on your video. Any suggestions?
Hey 👋 you'll need to switch the network to ETH in Metamask and then you'll be able to see your Ledger ETH account in Polygon wallet app. We hope this helps.
Help please, when ever i send my matic to my eth account on ledger it automatically goes into my matic account and not my eth account?
Hey 👋 that is because you're choosing Polygon network to send your tokens. If you want to send your Matic to your ETH account, you'll need to use ETH network when you're sending your tokens. We hope this helps.
Crypto needs to become easier. It’s easy for people that understand the space but for newcomers it’s a bit daunting.
also,what is difference between using wallet connect or metamask to hook up to ledger?
Hi, no you will not see the staked amount in Ledger Live. You'll be seeing it in the Polygon staking overview window. There is no difference with security, the only difference is that with wallet connect your Ledger device uses the Ledger Live interface to connect whereas Metamask uses its own interface.
@@Ledger thank yeah the wallets can be finicky i like to see the balances all in one place wish polygon worked like NUFI my staking shows up directly in ledger
hmmm, thje matic having to be in an eth account was confusing af. Just lost assets to the nether...
Hi, Matic token operates on both Polygon and ETH network. You can only stake your Matic if its on the ETH network. If you've your tokens on the Polygon network then you can bridge them to ETH network via Hop exchange.
Here is an article on how to swap your tokens from Polygon to ETH network.
support.ledger.com/hc/en-us/articles/4417305825809-Bridging-assets-across-Ethereum-L2s-with-Hop-Exchange
Here is an article explaining the steps to stake your Matic once its transferred to your ETH account.
support.ledger.com/hc/en-us/articles/6245402056605-How-to-stake-MATIC-with-your-Ledger?support=true
Great video, how can you track your earning from the staking then ?
Hi, you can track your rewards via Staking Overview tab in Polygon web wallet used when staking your Matic. We hope this helps clarify.
@@Ledger thank you for your answer. I was able to see them after a couple of days. When I wanted to restate my rewards, it’s telling me gas fees are going to be almost 5$ ! So more than my current rewards. What are the best way to auto-compound ?
What of FLARE? please
o lost 5000k matic - followed this video - send it to a antoher adress - that i cant find anymore- can somebody help me??
On let's me connect keystone hardware wallet no ledger
is it any risk stake my Matic using 3rd party app ploygon wallet v2?
Hi Staked tokens will be locked in a contract deployed on the Ethereum chain. Validators do not hold the custody of the delegated tokens. However, in the event of a validator getting slashed delegated tokens will also get slashed. We hope this clarifies.
U guys are making things complicated, why can't we do it as Binance just one click and stake
I cant put matic on ethereum account, how I does it?
Hi 👋 could you let us know where are your tokens stored at this moment?
@@Ledger Right not my Matic is on Metamask. How do i transfer it to Ledger Nano-X?
That is hard work for staking what a joke that is
hope they enable matic staking on ledger in the future
Hey Aldo - it's in the works but no ETA at the moment :)
I connect my ledger to polygon but it doesn't exit the login screen, it just closes the message that is waiting for metamask confirmation... 🥵🥵🥵🥵
Hey Henri - we might need to take a closer look at the issue though changing browsers and making sure the Polygon app is updated and open on the device might solve your issue.
If the problem persists please open a ticket via our Help Center with a description of the issue and ideally a screenshot showing what went wrong.
Here's the link to our Help Center, you can click on the Help button to open a ticket or chat with a live agent:
support.ledger.com/hc/en-us/categories/4404369571601?support=true
Thanks!
If you want adoption on a larger scale it shouldn't be this complicated...
👍💯👏👏👏👏🔝🔝
Unbelievable. really??
Expensive and many steps. Not friendly user.
Stupid. It cost a lot less to stake Matic on the polygon network.
Why are all ledger videos filmed like it has the budget of an amateur porn video. The money they make , they could get Taylor swift to a clearer explanation than this.