Synthetix is a leading decentralized derivatives platform where users can trade synthetic assets (Synths) and stake SNX for rewards. By connecting your Ledger hardware wallet to Synthetix, you can interact with the protocol while maintaining full control of your private keys.
This guide covers:
✅ 3 secure connection methods
✅ How to trade Synths & stake SNX
✅ Security best practices
Please download the last update of Ledger Live Application:
1. Ledger Live for Windows 10/11
2. Ledger Live for MAC
3. Ledger Live for Android
🔐 Why Use Synthetix with Ledger Live?
- Non-custodial trading – Your keys never leave the hardware wallet
- Synthetic asset exposure – Trade crypto, forex, and commodities
- SNX staking rewards – Earn fees from Synth trades
- On-chain governance – Participate with SNX
⚠️ Note: Ledger Live doesn’t natively support Synthetix – you’ll need these connection methods.
📌 Method 1: WalletConnect (Mobile & Desktop)
Steps:
- Open Ledger Live Mobile → Connect Ledger via Bluetooth
- Go to staking.synthetix.io
- Click “Connect Wallet” → Choose “WalletConnect”
- Scan QR code with Ledger Live Mobile
- Select Ethereum account → Approve connection
- Trade or stake – Confirm every transaction on your Ledger
✅ Best for: Quick mobile access with hardware security
💻 Method 2: MetaMask + Ledger (Desktop)
Steps:
- Install MetaMask (metamask.io)
- Connect Ledger:
- MetaMask → “Connect Hardware Wallet” → Ledger
- Visit staking.synthetix.io → Connect MetaMask
- Confirm all actions on your Ledger device
✅ Best for: Power users managing multiple DeFi protocols
⚡ Key Synthetix Functions
1. Trading Synths (sUSD, sBTC, sETH, etc.)
- Connect wallet (via above methods)
- Navigate to “Trade” tab
- Select Synth pair (e.g., sETH to sBTC)
- Confirm trade on Ledger
💡 Pro Tip: Check exchange rates at synthetix.exchange
2. Staking SNX
- Mint sUSD against your SNX collateral (600% collateralization minimum)
- Stake SNX to earn weekly rewards (trading fees + inflation)
- Claim rewards every 7 days
⚠️ Risk: SNX stakers are liable for debt pool fluctuations
3. Participating in Governance
- Delegate voting power via synthetix.community
- Vote on SIPs (Synthetix Improvement Proposals)
🚨 Critical Security Practices
✔ Bookmark official sites – Avoid phishing (staking.synthetix.io)
✔ Verify all contract calls on Ledger display
✔ Monitor collateralization – Stay above 600% for SNX
✔ Use hardware wallet-compatible RPCs (Alchemy/Infura)
💡 Advanced Strategies
- Provide liquidity to Curve’s sUSD pool for extra yields
- Hedge positions with inverse Synths (e.g., iETH)
- Use Kwenta (kwenta.io) for advanced trading
🔧 Troubleshooting
| Issue | Solution |
| “Transaction failed” | Increase gas limit (SNX requires high gas) |
| Ledger not detected | Update firmware & USB reconnect |
| Debt balance issues | Check synthetix.io/staking |
🚀 Final Thoughts
While Synthetix isn’t natively in Ledger Live, connecting via WalletConnect or MetaMask enables:
✔ Secure Synth trading
✔ SNX staking with hardware protection
✔ True on-chain governance
Your keys, your Synths, your rewards. Start with a small test trade today!
Questions? Ask below! 🔐