How to Setup Cold Staking With Ledger Hardware Wallet

[palmtree]

QuickNote:

• For Ledger Only
• Don't use Trezor addresses for cold staking, as PET4L cannot spend P2CS utxos yet
• This guide used wallet version 4.0.2 and confirmed to work with version 5.2.0 (updated 2021-06-09)

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​

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”​

Using image above as a reference, continue with the following steps:

7. Enter an easy to identify Label​

8. Press “Generate”​

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​

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

https://explorer.pivx.org/​

​

3. You can also create a desktop shortcut for faster access, just modify this url with your own address:

https://explorer.pivx.link/address/ReplaceWithColdStakingAddressFromStep16​

​

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

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)​

 

[AndreasAsp]

can i do this with my trezor hardware wallet? it supports pivx

 

[palmtree]

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

 

[Yoloman]

Do I need to leave the software running 24/7 ? Inorder to keep receiving the rewards ?

 

[palmtree]

Yes, with this method the wallet runs 24/7 for staking but the PIVs and staking rewards are safe and secure on the the Ledger. If you want an option for cold staking without having to run the wallet 24/7 you can usually find community members offering to do it for free. Just remember, never send PIVs or keys to anyone. Here is one example: https://forum.pivx.org/index.php?threads/free-cold-staking-service-by-me.738/

 

[palmtree]

@MarVelloZ , Simply send staked coin balance back to your main wallet (any address you own/control) using the PET4L tool.

If you have a lot of coins, you might want to send just a small amount first to make sure you do it right.

 

[palmtree]

I don't think that balance is on the ledger, try send > coin control

Do you see your balance there? It should have a snowflake icon!

 

[palmtree]

@Jeffrey Any ideas?

 

[Jeffrey]

Thanks for your help with this. I have followed the steps listed above and I do not see any entries prefixed with a "snowflake" icon.
Now this has me really worried.

I can see my cold staked amount (2,032 PIV) under the "Cold Staking" area of the wallet, but I do not see any entries prefixed with a "snowflake" icon in the "Coin Control" area under "Send". Do you know why is my cold staked amount not showing up under "Send"?
Could my wallet have been corrupted? Is there a way to refresh/restore the Cold Staking amount?
What should I do to remedy this issues?

It will show as snowflakes in the transaction history but in coin control you should see it added in pairs of 2 piv to your total. Or are you using the ledger to receive cold staking rewards?

 

[Dannyboy]

Hello everyone,
I accidently put a used wallet address (from my Ledger Live account) in step 16 (owner address). In the PET4L I can't find this. Is there a way to retransfer my coins or is there any other solution?
Thanks for help.
BR
Daniel

 

[palmtree]

Hello everyone,
I accidently put a used wallet address (from my Ledger Live account) in step 16 (owner address). In the PET4L I can't find this. Is there a way to retransfer my coins or is there any other solution?
Thanks for help.
BR
Daniel

Daniel, While it's recommended to use a new unused address, It's OK to use an old address.

In pet4l try changing spath from and spath to. the default is 0 to 20, which only finds the first 20 addresses, but you can change it to 0 to 100 or 21-50 for example.

 

[Dannyboy]

Thanks, got it. Needed to increase HW-value.

 

[limey]

Am I wrong from the example above.

You need to have your PIV on the Pivx wallet first to do cold staking?
This means I would have to move my current PIV on my hardware wallet, BACK to the PIVX wallet to cold stake back to the hardware wallet.

Currently have 0 on my PIVX wallet, and all PIV on my hardware wallet.

 

[palmtree]

Am I wrong from the example above.

You need to have your PIV on the Pivx wallet first to do cold staking?
This means I would have to move my current PIV on my hardware wallet, BACK to the PIVX wallet to cold stake back to the hardware wallet.

Currently have 0 on my PIVX wallet, and all PIV on my hardware wallet.

Yes, The PIVs need to be on the desktop wallet. Once the process is complete, they will be back on the Ledger. Please note that cold staking is currently disabled until sometime in March 2021 so you may want to do normal staking till then.

 

[kalinka]

Hello,
first of all, thank you for that great project.

I have some PIVX on my ledger nano and would like to bring them to more use by staking them.
I followed all steps as described above but did not managed to start staking. Most probably because the amount of PIVX on my desktop wallet is still zero.
As limey and palmtree have stated, it would be necessary to transfer all PIVX from my ledger to the desktop wallet first. I am not really sure about the statement "Once the process is complete, they will be back on the ledger". I thought if I transfer them, they will be moved from my ledger to the desktop wallet. Is there some way to move them, but to keep them save on the ledger?
As far as I could see there is no option to restore the core wallet by some mnemonic seed without having a proper backup.


A second, quite related question is about the creation of a master node. I am very close to the required amount of PIVX of 10.000 and consider to create a master node soon.
However, for me it is important that I can keep my PIVX save.
Analogous to staking PIVX, can I create a master node while keeping all PIVX on my ledger?

Thank you in advance

 

[palmtree]

kalinka,

Just a reminder that cold staking is currently disabled but should be available sometime after v6 wallet (Q3 or Q4)

"Once the process is complete" means that if you follow the tutorial to completion, the PIVX will be on the Ledger. In order to complete the cold staking delegation, it needs to be on the main wallet.

You are correct, there is no wallet seed, you need to backup the wallet.dat file.

Regarding your last question about the Ledger and masternode. Yes, once you have more than 10000 (10001 for example to allow for transactions fee) send exactly 10000 PIVs to yourself (to a new Ledger address, for example) in a single transaction. Use that address and transaction ID, to create the masternode.

 

[SchmaDias]

hello and sorry for my bad english
I'm having problems connecting to the server! what can I do?
tried on Mac and Windows, I don't think the servers exist!?!

 

[Yoloman]

hello and sorry for my bad english
I'm having problems connecting to the server! what can I do?
tried on Mac and Windows, I don't think the servers exist!?!

Your not alone , I am having the same problem as well . This was being on going for me about 2 weeks . I just haven’t got the time to post here & get help . I am using SPMT v.0.6.2

 

[SchmaDias]

I have contacted support and will see what pivx replies! I will report here.