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​​CoolWallet Partners With Lido For Liquid ETH Staking

ETH maxi’s, does the following conundrum sound familiar? You believe in the value and future of Ethereum and want to HODL your ETH past the Merge and till the end of days, but the rewards pale a bit in comparison with other younger, sexier layer-1 networks. Your friends keep bragging about how they’re stacking up that sweet, sweet yield and staking rewards, while you’re scraping by on resolve and the fading honor of the HODL. 

Something’s gotta give. So… How to earn passive income from your Ether bags?

Well, good news: the CoolWallet team has partnered with the Lido network to offer you a premium option, enabling you to earn solid staking rewards while maintaining access to the liquidity of your assets. Here’s what you need to know. 

Have no idea how to start? Check out our Step-by-Step Guide for ETH staking via Lido (click here).

What is Lido?

Liquidity for staked assets | Lido

Lido is a liquid staking solution for ETH 2.0 to solve problems resulting from the Ethereum 2.0 transition. The service is backed by a number of the industry-leading blockchain staking providers. Due to the Ethereum 2.0 transition, those who want to stake ETH will encounter 3 barriers:

  1. Early staking commitment
  2. Illiquidity
  3. Staking 32 ETH multiples

Lido was developed to overcome these problems and to allow users to stake any amount of ETH without complex procedures while preserving the liquidity through the stETH token. The goal with Lido is to allow for network participation and to eliminate the problems associated with ETH 2.0 staking – illiquidity, immovability and accessibility.

Why should I use Lido staking with the CoolWallet App?

Advanced cold storage technology to secure your ETH and stETH

With a unique, sleek design, CoolWallet is equipped with advanced security technologies, such as an encrypted Bluetooth connection (AES 256 military-grade) and 2+1 factor authentication (biometric and physical verification of all transactions via the app and card). As your private key is permanently locked inside CoolWallet’s EAL6+ secure element, your digital assets can not be exposed to external hacks and scams.

Start your ETH staking journey through CoolWallet and CoolWallet App, and enjoy the benefits of smart crypto cold storage: safety, convenience, and access to liquidity while staking.

How does the mechanism work?

To understand the value of staking any portion of your ETH and keeping the liquidity of your staking assets via the integrated solution, let’s learn some points of Ethereum 2.0. 

Ethereum plans to launch Ethereum 2.0 in the near future and the transition from Proof of Work to Proof of Stake (PoS) has already started through a multi-phase rollout. 

However, though ETH staking has already launched, the transaction will not be enabled until later phases of the ETH 2.0 transition, making it impossible to move, trade or spend ETH that has been staked. Any ETH staked on ETH 2.0 early in the rollout will be locked for a certain time. As a result, your staked ETH will be illiquid and cannot be used to participate in other DeFi projects. In addition, participants can only stake multiples of 32 ETH, which makes it prohibitively expensive for most retail investors. Someone who only owns 2 ETH will not be allowed to participate in ETH staking alone. On the other hand, someone who possesses 35 ETH can only stake 32 ETH.

Well, up until now at least. Great news, blast these restrictions away by using Lido via CoolWallet App! If you own some ETH and have CoolWallet on hand, here’s how to start staking your ETH:

After a few easy clicks in CoolWallet App, you will be able to stake any amount of your ETH from your CoolWallet and receive stETH tokens directly into your CoolWallet. This design eliminates the chance for malicious actors to intervene. 

The Power of stETH

The stETH token is issued on a 1:1 basis representing the amount of ETH you staked and will be updated on a daily basis to reflect your ETH staking rewards with an APR (annual percentage rate) of 3.9%. 

Here’s where it gets super interesting: The stETH you receive can be used like regular ETH! It’s fully liquid. Sell it, spend it, or use it in other DeFi protocols to earn more yields or lending rewards. Our integrated Lido solution allows you to stake ETH while preserving your investment’s liquidity and even provides you an opportunity to earn more on top of it. And of course, when transactions are finally enabled on ETH 2.0, you can also redeem stETH for ETH.

Simply put, our Lido integration helps you to easily stake your ETH without complex restrictions to earn staking rewards and offers you additional farming benefits with an issued stETH token. Last but not least, all this happens within the safety of the CoolWallet to ensure the uncompromised security of your precious digital assets. 

So let’s get started! Wait, what… you don’t have any ETH? Don’t worry! You can simply make a crypto purchase or swap your crypto to ETH in CoolWallet App (not financial advice!) CoolWallet App is currently supporting crypto purchase services from Simplex and Banxa, and crypto swap services from 1inch, ChangeHero, and Changelly. Choose an offer of your preference, and start your  ETH staking journey.

Step-by-Step Guide for ETH Staking via Lido

How to stake ETH via Lido?


Download the latest CoolWallet App and ensure you have your CoolWallet S or CoolWallet Pro device ready. If you don’t have a cold wallet yet, you can still stake ETH via Lido using the CoolWallet HOT module.

Download on the App Store

Download on the Google play

Step 1. Open your CoolWallet App and add the “stETH” token on the “Wallet” page. Then click “Manage” to proceed to the next step.

If stETH has already been added, please proceed to Step 4.

Step 2. On the “Manage Wallet” page, if you cannot find stETH, please click the “+” button in the top right corner of the screen. From the pop-up menu, select “Add Coin or Token”. Then type “stETH” in the search bar on the “Add Coin or Token” page.

Step 3. Tick the checkbox for “stETH” and you will see that stETH is enabled on the “Manage Wallet” page. Then, go back to the “Wallet” page.

Step 4. Click on the “Marketplace” and click on the “Lido” block. You will be redirected to Lido’s website.

Step 5. On the bottom right corner, you can view your ETH address and switch to another address if necessary. Enter the amount of ETH you wish to stake. Scroll down to review the staking information. Click the “Submit” button to proceed to the next step.

Step 6. On the “Transaction Confirmation” page, you can adjust the fee and review the detailed transaction information. Please click the “Confirm” button and long-press the button on your CoolWallet Pro/S to activate it.

Step 7. Please double-check the transaction information and follow the instructions to press the button on your CoolWallet Pro/S to complete the confirmation process.

Step 8. The “Transaction completed” message will appear if the transaction is successfully processed. Click “Return to Lido” and view the staking details. By clicking on “Rewards” in the bottom bar, you can access the details of your staking rewards.

How to view staking rewards?

Click on “Rewards” in the bottom bar, you can access the details of your staking rewards. By scrolling down you can view the detailed history of your ETH staking rewards.

How to claim staking rewards?

Step 1. Click on “Withdrawals” in the bottom bar and click the “Request” tab. Lido provides two options for exchanging stETH to ETH. You can either use Lido’s service directly or utilize a third-party aggregation service. In this guide, we will use Lido’s service. Select “Use Lido” and click “Request withdrawal”.

Step 2. The withdrawal request procedure requires two signatures. The first signature is for EIP712 signing authorization. Please follow the instructions and press the button on your CoolWallet Pro/S to proceed.

Step 3. The second signature is to confirm the on-chain fee for the withdrawal request. Once again, please follow the instructions and press the button on your CoolWallet Pro/S.

Step 4. After successfully sending the request, you will receive a “Transaction Completed” message.

Step 5. Please click on the “Claim” tab on the “Withdrawal” page. You will find the withdrawal request you have sent. Normally it takes 1 – 8 days for Lido to process a request. Once Lido processes your request, the status will change to “Ready to claim”, highlighted with a green background.

Step 6. When the status of your request changes to “Ready to claim”, it means you can take back your ETH. Select the request and click “Claim ETH”. Please be aware that the transaction requires an on-chain fee. 

Step 7. Please follow the instructions and press the button on your CoolWallet Pro/S.

Step 8. You will receive a “Transaction Completed” message after successfully completing the transaction process. You can now go back to the “Wallet” page to view the ETH balance!

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