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How to Setup Cold Staking With Ledger Hardware Wallet

palmtree

Administrator
Staff member
QuickNote:
  • For Ledger Only
  • Don't use Trezor addresses for cold staking, as PET4L cannot spend P2CS utxos yet
Prerequisites:
A Ledger with PIVX app installed​
Latest PIVX wallet from https://pivx.org
Download and install PET4L from https://github.com/PIVX-Project/PET4L/releases

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Using image above as a reference, do the following:
1. Unlock PIVX Wallet, choose "Unlock Wallet" from small drop down menu​
2. Wait until wallet is connected and fully synchronized with PIVX blockchain​
3. Press “Snowflake” icon to enable "Cold Staking" tab​
4. Press “Cold Staking” tab​
5. Press “Staker“​
6. Press “Create Cold Staking Address”​

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Using image above as a reference, continue with the following steps:
7. Enter an easy to identify Label​
8. Press “Generate”​

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Using image above as reference, Continue with the following:
9. Press “My Cold Staking Addresses“​
10. Press the new cold stake address​
11. Press “Copy” from small pop-up menu​

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Almost done! Using the image above as a reference, finish with just a few more steps:
12. Press “Delegation“ tab​
13. Paste the address you copied in step 11​
14. Enter amount of PIV you wish to stake​
15. Enter an easy to identify label if you wish​
16. Paste an unused hardware wallet address (see below if you don’t know how)
17. And finally, press “Delegate“​

Recommended Final Steps

Lock PIVX wallet (see step 1 above)
Unlock PIVX Wallet (see step 1 above) choosing for Staking Only
You are now Cold Staking with your PIV safely stored on your hardware wallet

Additional Information

1. To spend your rewards, you will need to use the PET4L program.

2. Your hardware wallet will probably NOT show Cold Staking balance, however, you can see it on the official PIVX block explorer
3. You can also create a desktop shortcut for faster access, just modify this url with your own address:
4. Adding more PIV to your cold stake, using image above as reference:
13. Drop down and select existing cold staking address​
14. Enter amount of PIV you want to add to your cold stake​
15. Skip this step, (will fill in automatically in step 14 above)​
16. Drop down and select the address with the label you used in step 7 above​
17. Press "Delegate"​

Getting Hardware Wallet Address for Cold Staking

Open PET4L program and unlock hardware wallet with PIVX app

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Using image above as a reference, follow the steps below:
1. Verify PIVX Server is connected​
2. Connect to Hardware device​
3. Load / Refresh addresses from hardware wallet​
4. Dropdown addresses list and select an unused address​
5. Click “Copy“ icon to copy address​
6. Close PET4L​
7. Paste address in PIVX wallet (step 16 above)​
 
Last edited:

palmtree

Administrator
Staff member
Currently, you cannot use this method for Trezor. The developer said in a past post "Don't use trezor addresses for cold staking, as PET4L cannot spend P2CS utxos yet." I've updated the main post to clarify.

2020/08/25 - Updated link to pet4l binaries instead of source code
 
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