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How to stake Ethereum (ETH) with Figment through Ledger Live

This tutorial describes how to stake your Ethereum (ETH) coins with Figment through Ledger Live which requires you to deposit at least 32 ETH.

 Don't have 32 ETH to deposit? You can consider pool staking instead. Please note that for legal reasons, US-based users cannot use the pool staking service through Ledger Live

Before you begin

All set? Great, let’s dive in.

Install the Figment app on your Ledger device

  1. Connect and unlock your Ledger device.
  2. Open Ledger Live and navigate to the My Ledger section.
  3. If asked, allow Ledger Live to access your Ledger device by pressing both buttons on your Ledger device simultaneously. 
  4. In the My Ledger, select the App catalog, search for Figment, and click Install.
    You're done.



How to stake your Ethereum (ETH) coins with Figment with your Ledger device

  1. Open the Ledger Live app and connect your Ledger device.
  2. Navigate to the Discover section.
  3. Click on Figment
  4. Select the Stake tab.

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  5. Choose the amount you want to stake. The amount must be a multiple of 32 ETH. 
  6. Click Continue.
  7. Review transaction details.

    image2.png

  8. Press both buttons to allow My Ledger to access your device.
  9. Open the Figment app on your device.
  10. Confirm and sign the transaction with your Ledger device.

Your ETH will be deposited to validators. You can see the status of your stake in the Activity section.

Note: You can also stake with Figment by accessing it through the 'Stake' button in your Ethereum account in Ledger Live:

  1. Open your Ledger Live app.
  2. Navigate to your Ethereum account.
  3. Click Stake.
  4. Select Figment.


How to track your ETH staking rewards with Figment

In the case of Ethereum staking, the time for your stake to activate and begin getting rewards depends on the queue of Ethereum validators awaiting activation. This can span days to weeks, during which your ETH will be inaccessible and won't accrue rewards. For an estimated completion time for the activation queue, please refer to: ethstakers.club or validatorqueue.com.

Once your Figment Ethereum validator is active, it will start generating ETH staking rewards, which are typically distributed every 8 days. These rewards are directly added to your ETH balance in Ledger Live. Since reward distributions are not considered transactions, they will not appear as transactions in your transaction history in Ledger Live. Instead, your ETH balance will increase directly.

To track the history of your received rewards, visit etherscan.io, look up your Ethereum address and navigate to the Beacon Chain > Withdrawals section. There you can view the history of ETH rewards that have already been added to your account.

How to unstake your ETH coins with Figment

Like staking your ETH, you can also unstake your 32 ETH directly within the Figment app in the Discover section of Ledger Live.

  1. Make sure Ledger Live is open, your Ledger device is unlocked with the Figment app opened and that your Ledger device is connected to your desktop computer or phone.
  2.  Navigate to the Figment app in the Discover section of Ledger Live.



  3. Once in the app, go to the Unstake tab, check the box, and click Continue.



  4. Ledger Live will prompt you to sign a message to confirm that you want to unstake your ETH coins from the Ethereum Beacon Chain. Carefully review the message displayed on your Ledger device to ensure it matches the one shown in Ledger Live.
  5. If everything looks correct, sign the message by pressing both buttons on your Ledger device to finalize the unstaking.


    After your unstaking transaction has been broadcast to the Ethereum network, it will enter a cool-down period. At the end of this period, you’ll be able to sign a final transaction to withdraw your 32 ETH back to your Ethereum account. The time required for your ETH to become withdrawable can vary from 1 to 10 days.

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