Ledger Nano X Wallet
★★★★★ 4.6
Price (USD)
$149
Supported assets
5,500+
Where to buy Lido Staked SOL
It looks like STSOL may not be available to purchase on an exchange in the US.
You can still purchase STSOL by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Solana and allow users to trade any asset directly with one another.
Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.
How to purchase STSOL using a decentralized exchange.
- Find STSOL on a decentralized exchange and make sure Lido Staked SOL can be traded for SOL which is the native asset of the Solana blockchain. Popular DEXs include Raydium, Marinade Finance and Saber.
- Buy SOL to trade for STSOL using an exchange like Crypto.com. You will need to purchase enough SOL to swap for STSOL as well as SOL to pay for transaction fees on the Solana network (known as gas). Gas fees only cost a fraction of a cent on Solana, so keeping 0.01 SOL set aside for gas will be plenty.
- Transfer the SOL into a Solana web 3.0 wallet like like Phantom to connect to the DEX.
- Trade SOL for STSOL on the DEX of your choice, following the instructions on screen. Make sure to leave a small amount of SOL in your wallet to pay for gas.
- Wait for the transaction to finalize and the STSOL tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
Best Lido Staked SOL wallets to store your STSOL
You can keep your STSOL on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your STSOL below.
Trezor Model T Wallet
★★★★★ 4
Price (USD)
$219
Supported assets
1,456+
SafePal S1 Wallet
★★★★★
Price (USD)
$49.99
Supported assets
30,000+
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Is Lido Staked SOL a good investment?
Cryptocurrencies are highly speculative assets that come with a range of risks. Those that are considering stSOL as an investment should consider the following factors:
- Governance: The Lido protocol is governed by the Lido DAO, which dictates which validators Lido pool funds are delegated to. While funds are spread across several validators and are backed by a multi-signature mechanism to reduce custody risk, ultimately, all funds are still the responsibility of the Lido DAO. The Lido DAO is composed of Lido DAO token, or LDO, token holders - the native governance token of Lido.
- Security: The smart contracts implemented on the Lido application have been audited by security firms including Neodyme and Bramah. While an audit does not guarantee complete security, the completion of two security audits could be a comfort for potential investors.
- Lido fee:The Lido protocol charges a 10% fee for all staking rewards collected. This is distributed between node operators, Lido and Solana developers, and the Lido treasury.
- Slashing risk: Slashing is an inherent risk when staking SOL coins within the Solana blockchain. Slashing occurs when validators no longer support the security and integrity of the blockchain. While the Lido DAO carefully manages and diversifies funds among several Solana validators, the risk of the SOL pool being reduced due to slashing is still present.
- Liquidity mining incentive: stSOL tokens allow users to amplify staking rewards. Instead of locking SOL coins into the Solana blockchain to earn rewards, users of Lido can enjoy rewards from staking SOL, while also enjoying rewards from liquidity mining on decentralized exchanges (DEXs). Lido also offers rewards in the form of wLDO tokens, Lido’s wrapped governance token that has been transferred from the Ethereum blockchain to Solana. wLDO is often distributed to stSOL liquidity providers.
- stSOL to SOL ratio: As a liquidity provider token, 1 stSOL token should always hold a value that is equal to the price of 1 SOL coin. stSOL tokens then accrue rewards which are finally used to recover the original stake. However, when unstaking SOL tokens there is often a short delay. For those that need to sell SOL tokens quickly, this may lead some users to sell stSOL tokens below the true underlying value.
Today's Lido Staked SOL price versus ATH
Compare today's price of Lido Staked SOL ($22.52 USD) against its all-time high (ATH) price of $263.24 on November 07, 2021. The closer the bar is to 100%, the closer STSOL is to reaching its ATH again.
Current price: $22.52
All time high: $263.24
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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