Can you stake Bitcoin on Ledger?

3 answers

• Mar 06, 2022 · 3 years ago
  No, it is not currently possible to stake Bitcoin on Ledger. Bitcoin is a proof-of-work (PoW) cryptocurrency, which means that it relies on miners to secure the network and validate transactions. Staking is a mechanism used by proof-of-stake (PoS) cryptocurrencies to secure the network and earn rewards. However, Ledger is a popular hardware wallet that can be used to securely store your Bitcoin and other cryptocurrencies.
  425213
• Mar 06, 2022 · 3 years ago
  Unfortunately, you cannot stake Bitcoin on Ledger. Bitcoin uses a different consensus mechanism called proof-of-work, which requires miners to solve complex mathematical problems to validate transactions and secure the network. Staking, on the other hand, is a mechanism used by some other cryptocurrencies that rely on proof-of-stake. Ledger is a hardware wallet that provides a secure way to store your Bitcoin and other cryptocurrencies, but it does not support staking for Bitcoin.
  485162
• Mar 06, 2022 · 3 years ago
  No, Ledger does not support staking for Bitcoin. Bitcoin uses a proof-of-work consensus algorithm, which means that miners are responsible for validating transactions and securing the network. Staking is a mechanism used by some other cryptocurrencies that rely on proof-of-stake. However, if you're interested in staking, there are other cryptocurrencies that you can stake on Ledger, such as Ethereum, Cardano, and Polkadot. These cryptocurrencies use proof-of-stake and offer staking options on the Ledger platform.
  518130