You have the possibility to delegate your Tezos (XTZ) from your own secure wallet. Thanks to its PoS (Proof of Stake) system, your Tezos can bring you more Tezos.
There are different ways to delegate your XTZs. Below, you will find all the steps to follow to delegate your Tezos from your Ledger wallet.
Ledger is a French company that sells cold wallets that allow you to store your crypto-assets in complete security. They take the form of a USB key and have a screen to verify and validate your transactions.
Before continuing, check that you have:
- A Ledger Nano S, from the official Ledger website.
- The Ledger Live application downloaded to your computer.
- The firmware of your Ledger is up to date. The Ledger application automatically provides the latest update when you connect your wallet to your computer.
- You have enough free space on your Ledger. If this is not the case, you can delete applications on your Ledger to install Tezos Wallet (even if you have crypto-actives from the wallet you are deleting. You can reinstall the desired application in one click and find your assets).
Launch the Ledger Manager via the extension or the Desktop Ledger Live application. Go to the settings and activate the “Develop mode” at the bottom.
Then look for the Tezos Wallet in the Manager.
Download Tezos Wallet and the application will appear on your Ledger screen, as follows :
Open the Tezos Wallet application and leave your Ledger connected.
Download and install TezBox
Go to https://tezbox.com, and download the Tezos wallet of your choice.
Tezbox allows you to store your XTZs safely. For this tutorial, we chose the desktop wallet of TezBox.
Install Tezbox and open the application that looks like this:
Link Tezbox and your Ledger wallet
Check that your Ledger is properly connected, and that the Tezos Wallet is running properly.
Open Tezbox and click on “Link your Tezbox” so that this window opens:
Click on “Link TezBox”. This window appears:
This time you will be asked to validate your public key on your Ledger. Check, validate and that’s it!
You will be asked for a password to secure access to your wallet:
Choose your password and click on “Encrypt Wallet”. Your wallet is now created and the private key is saved on your Nano S Ledger !
Once your wallet is created, supply it with XTZ.
Check that your Nano S Ledger is connected properly and then you can proceed to step 1.
Step 1 - Create a KT address
You have a Main Account, whose address begins with TZ. To delegate your XTZs, you must create an account whose address will start with KT. This address will be attached to this Main Account. Click on “Add Account” to create an account.
A message appears indicating that there are some (minimal) fees to create an account. Click on “Yes, continue” and approve the transaction on your Ledger.
That’s it! That’s it! The new account (KT) is well added to your Main Account (TZ).
The creation of this account may take a little time, before the transaction is included in the blockchain. Your avatar will display a “! “until the operation is confirmed.
Step 2 - Supply your KT address
Transfer your Tezos to your new account with your KT address.
To fund your KT delegation account, go back to your Main Account. Click on “Send” and enter the destination address (“Destination Address”: here, copy/paste the address of your KT account), the amount of ꜩ you want to delegate (“Amount ꜩ”) and the fees (Fee mꜩ) you can leave on “Low”. Be careful, if you paste another KT address than yours, your Tezos will be lost. Finally, click on “Send”.
Tezbox asks you for confirmation. Check one last time that the KT address is yours and click on “Yes, send it! ».
Confirm the operation on your Ledger. The following window opens :
Step 3 - Register your baker
Attention: never send your ꜩ to your Baker! In Tezos, you delegate your XTZs via an address that belongs to you, the KT address. In other words, you never transfer ownership of your Tezos. You only delegate participation in the process of creating and validating blocks. Your XTZs belong to you.
Click on “Delegate”, select “Custom” and enter the address to which you want to delegate your Tezos, here:
Click on “Update Delegate” and wait for the operation to be taken into account by the Blockchain (it takes about 1 to 2 minutes).
Confirm the operation on your Ledger, make sure that the delegation address is: tz1U638Z3xWRiXDDDKx2S125MCCaAeGDdA896
Your Tezos are now delegated to Tezos France Delegation. Congratulations!
That’s it! You have just delegated your ꜩ with your KT address. You can check your KT address on tzscan.io. You will also find all the rewards that will be paid by your Baker, for your participation in securing the network.