We have created a step-by-step guide to help you stake your Polkadot (DOT) using Polkadot.JS linked to your Ledger device.
This guide will follow through the process of creating an account in Polkadot using Ledger hardware wallet and staking using a controller account. If you have more than 50,000 DOT you can sign up in our Polkadot P2P page to find out about our special staking conditions.
Table of contents
I. Create Polkadot account with your Ledger
II. Bond the amount of DOT you wish to stake
III. Assign a Controller to your Stash
IV. Nominate validators
Create Polkadot account with your Ledger
Download Ledger Live on your device and connect your hardware wallet. Make sure that Ledger firmware is up to date. Install the Polkadot/Kusama application.
1. Go to PolkadotJS UI using Chrome and navigate to the Settings tab. In the dropdown menu related to hardware connections select Attach Ledger via WebUSB and press Save.
2. Go to the Accounts tab and press Add Ledger button to create an account
3. On your Ledger wallet, navigate to the Polkadot/Kusama app that you downloaded in Step 1 and select it by pressing two buttons on your Ledger. Go back to the screen on your device and click Save.
4. You will be asked to confirm the connection of your Ledger via web interface. Select it in a dialog window and press Connect.
5. The account should appear on the screen. This account will play the role of your stash. If your stake is higher than 50k DOT - contact us to receive a special offer from P2P. To generate multiple addresses repeat steps 3,4 but every time choose a different address index in the drop-down menu of step 3.
We will continue with a single account but if there are multiple ones the following process should be repeated for each of them.
Left-click on the icon to copy the address and send DOT tokens to it.
Bond the amount of DOT you wish to stake
1. Go to Network -> Staking and navigate to Account Actions by pressing the tab.
2. Bond the amount you wish to stake. Leave at least 2-3 DOT unbonded to cover future transaction fees. In the dropdown menu you can specify the desired way of receiving rewards on your stash. (Auto re-staking or auto unbonding, to become transferable in 28 days after payout was triggered).
We make payouts every day or three so you won’t need to pay a tx fee by yourself.
3. Press Sign and Submit, then confirm the transaction on your Ledger device
If the hardware wallet becomes disconnected, re-enter the Polkadot application and continue making actions on the PolkadotJS screen. You will be asked to connect Ledger via web interface as in step 5, after that continue with the step where the connection was lost.
4. After successful bonding your stash appears in the Account Actions tab. We recommend assigning a controller account. It is a separate account that you should fund with 2-3 DOT and connect with your primary one to perform staking related operations on behalf of your stash, like triggering payout or nominating a validator. Controller has no access to the funds on the stash.
Assign a Controller to your Stash
1. Navigate to Developer -> Extrinsics.
2. In the left drop-down menu select staking
3. In the right drop-down menu select setController
4. In the last drop-down menu paste the controller address you wish to assign. Every stash should have a separate controller.
Press Submit Transaction
5. In the opened window click Sign and Submit, then confirm the action with your Ledger wallet
6. Go to Network -> Staking -> Account Actions to check the updated information. In the Controller column you will see the recently added controller address instead of the stash.
1. Press Nominate button
2. In the opened window select up to 16 validators you wish to stake with. If you would like to nominate P2P go to https://p2p.org/polkadot and select validators from there. We update the list on a regular basis.
3. Chosen validators will appear in the right column. Press Nominate.
4. You will be asked to confirm the transaction with your Controller account. Click Sign and Submit.
5. In the top right corner you should see that transaction is confirmed. Your screen should be updated and current nominations should appear in the Account Actions tab. From here you will be able to manage your staking in future.
Staking will begin from the next era or two (24 - 48 hours). You will be able to track nominations from Staking -> Account Actions. At least one nomination should become active thus your stake is working in full and generating rewards.
For more information on staking Polkadot (DOT) with P2P Validator and our special offer for large DOT delegations, visit https://p2p.org/polkadot.
For additional staking support, visit the P2P Polkadot support center.
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