What is Lido and how to use it?

Modified on Thu, 9 Mar, 2023 at 3:01 PM

Lido is now available on CoolWallet 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 CoolWallet 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.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article