Opinion on staking on lido or kiln using ledger? Is it 100% safe?


Overall, its unclear to me the risk involved in staking eth with kiln or lido using ledger. Can someone explain to me if using a ledger makes this foolproof or is there a way for someone to take our funds even with the use of ledger?

A few questions:

  1. How is this integration more secure with the use of ledger?
  2. Kiln doesn't have as many green checks from ethereum.org, has anyone had any issues with this?
  3. Any other upsides or downsides for anyone who has experience with this?
  4. I've heard that smart contract vunerabilities could lead to siphoning of user funds from kiln or lido, but is this still the case when using ledger? or is it because they stole funds there is no liquidity? someone please explain clearly

Thanks again

reddit imageOpinion on staking on lido or kiln using ledger? Is it 100% safe?

5 thoughts on “Opinion on staking on lido or kiln using ledger? Is it 100% safe?”

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    1. All dApp integrations in Ledger Live are audited to enable clear signing and ensure resilience against any front-end hacks that may trick people “in the wild” so to speak. Plus you can clear sign for all dApps in Ledger Live. This means your device will tell you exactly what you’re doing.
    2. Not sure on what gets people green checks, maybe someone else will know more.
    3. It’s important to note that using Kiln requires 32 ETH
    4. Kiln is a staking as a service provider that will provide direct on-chain staking. Lido is a liquid staking solution that will use smart contracts. With Lido, smart contract risk always exists, but we have a world-class security team which audits all partners.
      Nothing’s 100% safe but we invest a lot of time and resources into curating the most secure experience for our users.
  2. Lido states risks here: https://help.lido.fi/en/articles/5230603-what-are-the-risks-of-staking-with-lido

  3. Since you ask for an opinion, here is mine. I can’t say much about risks but there are risks when you interact with these type of protocols, though I would guess they would be small. However, the returns are pretty small. Why would you give up the keys to your ETH assets for a small return (isn’t it just 6 to 7%)? There is much more potential in ETH going up.

    It would be great if ETH had implemented a staking protocol where you didn’t hand over your asset like ALGO or ADA.

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