Can I earn passive income by staking Solana on a Ledger device?
AhmedMSApr 30, 2022 · 3 years ago1 answers
Is it possible to generate passive income by staking Solana on a Ledger device? How does staking Solana work on a Ledger device and what are the potential rewards?
1 answers
- Apr 30, 2022 · 3 years agoAbsolutely! Staking Solana on a Ledger device allows you to earn passive income. By staking your SOL tokens, you contribute to the network's security and consensus mechanism. In return, you receive rewards in the form of additional SOL tokens. The rewards are distributed based on the amount of SOL you stake and the duration of your stake. Staking on a Ledger device adds an extra layer of security as your private keys are stored offline, protecting them from potential hacks or online vulnerabilities. So, with staking Solana on a Ledger device, you can earn passive income while keeping your tokens secure.
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