What is Lido and how to use it?

Lido is now available on CoolBitX APP (2.44.0).

With Lido, one of the top ETH 2.0 staking service providers, you can now stake your ETH and receive daily rewards with ease! To learn more about Lido, kindly visit the following link.

Before we start, please note that ETH tokens such as BEP-20 or TRC-20 are not compatible with the Lido staking service. 


Step 1. In CoolBitX APP, go to "MarketPlace" > "Lido"

Step 2. If you have multiple ETH addresses, select the one you want to proceed with Lido Staking.

Step 3. Enter the amount of ETH to stake and press “Submit”

Step 4. Confirm the transaction on your CoolWallet device.

Step 5. Your wallet will now contain stETH (staked ETH) representing your staked deposit. Your stETH balance will automatically grow and is updated daily to reflect the staking rewards. If you do not see your stETH balance in your wallet, kindly go to "Settings" > "Manage Wallet" > "+" > "Add Coin/Token" > and search for stETH (ERC-20) and "Add to Wallet"

You can also check your stETH balance and your earnings on the Rewards Page.

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