I’m sure that this post will only apply to a tiny subset of those on this subreddit, but I wanted to post it anyways to hopefully help out at least a few people.
Some months ago I bought some ATOM and immediately sent it to my Ledger, and at the time not considering using other wallets, I staked my funds though Ledger Live
Let me tell you, I almost got turned off of the network then and there.
The fees that Ledger Live automatically applied (with no option to change them if memory serves me right) were way too high, I didn’t have many coins (low double-digits) but it was still worth it, so I staked them and forgot about it.
Now obviously I recently came back to the Cosmos network to claim some airdrops, (Cosmos airdrops are crazy by the way, but that’s for someone smarter than me to write about) and this time I used the Kepler wallet (still connected to my Ledger)
The fees were almost non-existent (pennies or less), I’m sure many people know that Cosmos has low fees, but I always thought people were just exaggerating how low the fees were (I mean if you compared my “high” Cosmos fees to Ethereum fees then I guess it was still low lol)
TLDR: I was an idiot and didn’t bother researching Cosmos fees before transacting through Ledger Live for comparatively very high fees.
TLTLDR: Don’t do Cosmos transactions though Ledger Live, use a wallet like Kepler
Keplr is the way to go!
Thanks! Useful
Yeah I use Exodus wallet to stake my ATOM at 13.4% APY and have never had any issues with high fees or anything on there. So Exodus is another solid option as well.
Good to know! Yeah I thought I would stake through ledger, but I didn’t want it handled by third party so I really only use it to hodl.
Honestly OP is exaggerating
I staked via ledger live before Keplr and fees were still nothing compared to the Defi ecosystems elsewhere
Keplr is the way to go but ledgerlive was/does work well enough for people who literally want to only use recognized platforms. I think the biggest problem with ledger live is it doesn’t seem to integrate well afterwards once importing to Keplr, it shows my balance from forever ago and frankly Keplr is great so I never use ledger live for atom anymore but it’s not a bad UX nor is it super costly just not optimal compared to cosmostation>keplr
Tbh idk why anyone uses a Ledger for anything other than holding.
It doesn’t protect you from malicious smart contracts….One “Permissionless” smart contract gets approved by you because you’re all willy nilly connecting the shit to defi and all the other shit and boom, your shit is gone just like any other wallet
I connect my ledger to nothing but the KYC exchange I use to hold and again to sell, if I feel like fucking with staking and connecting to shit for degenerate purposes I send it to a fresh soft wallet
All you people using your hard wallet for everything and layering on APIs onto it are frankly playing with fire imo