But with the invention of hardware cryptocurrency wallets, this problem became less acute and allow people to store their funds in significantly secure environments. In this cryptocurrency staking guide, you will discover how to stake ICON(ICX) via Ledger Nano X.

Section 1: Wallet Setup

In case you just purchased the Ledger Nano X and want to have more information on the setup process please refer to an official Ledger guide.

Ledger’s guide implies the installation of the Ledger Live application on your desktop computer. The software can be downloaded from the official website as well.

Considering the ICON wallet it is available for download and use as a Chrome Extension. And in case you are not familiar with the ICON network, you can refer to our recently created FAQ guide where you can find detailed information regarding the staking, voting, rewards and other.

Once you set up or initialize your Ledger hardware, please open the ‘Manager’ section of the Ledger Live application.

Enter ‘ICON’ into the app catalog search bar.

Click on the ‘Install’ button and confirm your operation on the Ledger device as well.

After the successful installation you have to open the Chrome and aforementioned ICONex extension.

When you click on the ICONex icon you will be transferred immediately to the wallet authentication menu.

Choose to ‘Connect to Ledger’

In the pop-up menu click on the ‘Connect’ button.

It’s very important to note, that users who have Windows 10 operating systems may face well-known connectivity issues, which won’t allow you to connect a few times.

To resolve this problem, you simply have to click on the ‘Connect’ button several times, and only then Windows Security will allow authentication.

Users who have macOS or Linux installed on their computers won’t trigger the same problem.

In the following menu, you will be able to choose the desired deposit address where you can send your ICX.

Once you made a deposit, click on the address with a positive balance, and you will be transferred to the main menu of the ICONex wallet.

Section 2: Actual Staking and Unstaking Process

In the main you will be able to see basic voting analytics related to active P-Reps, Sub P-Reps, Candidates. And also you can keep track of the current Delegated Voting Power proportional to the Total ICX Supply.

Click on the ‘My Status’ section.

In the ‘My Status’ section you can stake/unstake ICX, or vote/unvote for P-Reps. Also, you can keep track of your balances, votes, and I-Score.

In case you are new to the ICON ecosystem, the I-Score represents a reward that every user gets for the ICX staking. In many other PoS(Proof-of-Stake) blockchain networks you will find that users who stake their tokens receive rewards in the form of those tokens that they staked in the first place. Where I-Score as a reward has to be claimed or exchanged for ICX tokens, and it can be performed directly in the ‘My Status’ menu.

We’d like to emphasize that anytime you can adjust your stake or current votes, simply by clicking on the corresponding buttons.