Staking Algorand with Ledger
Earn money while holding Algorand (ALGO)
Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network and, in return, holders are rewarded for their contribution.
Algorand (ALGO) aims to solve the three main challenges faced by blockchains today: security, scalability, and decentralization.
In Algorand’s consensus algorithm, called Pure Proof of Stake, the network ties its security to the honesty of the majority. Algorand makes any dishonesty impossible by a minority so any cheating by the majority would be foolish. As long as two-thirds of the majority are honest, the protocol is robust.
You can earn passive income by participating in the Algorand network. All addresses that contain 1 ALGO or more will receive rewards. The current annual yield on Algorand is around 5 to 6%.
Rewards are claimed every time a transaction occurs to or from your account.
You could also do a transaction of 0 ALGO to yourself to claim your rewards.
The benefits of staking Algorand
No action is required to start staking. You only need a minimum balance of 1 ALGO.
Once claimed, your rewards are directly added to your global balance.
Low risk of forking
Due to its unique consensus algorithm, the Algorand blockchain does not fork.
The Algorand network is known for its speed. Transactions are fast.
Why stake with Ledger
Receive your rewards while holding your coins secure on your Ledger hardware wallet.
Freedom of choice
Stake your coins how you want: we give you access to a list of several validators. It's up to you to choose which one you want to go with.
All in one place
Access not only staking but other crypto services: Ledger is the gateway to swap, buy, sell or lend your crypto. All in one place!
Grow your Algorand with Ledger
What is Algorand?
Algorand is an open source blockchain designed by Turing Award winner and MIT professor Silvio Micali. It launched in June 2019. Algorand (ALGO) aims to achieve all three challenges of blockchains today: security, scalability, and decentralization.
In Algorand’s consensus algorithm, called Pure Proof-of-Stake (PoS), the network ties its security to the honesty of the majority. Algorand makes any dishonesty impossible by a minority so any cheating by the majority would be foolish.
The consensus mechanism ensures full participation, protection, and speed within a truly decentralized network. With blocks finalized in seconds, Algorand’s transaction throughput is on par with large payment and financial networks.