Staking Eos and ledger connection

Hello,

I just recently had my eos unlocked after using the fallback with eos authority. I’ve contected the new private key to anchor wallet and as far as I’m aware everything looks good.

  1. On my eos authority account my owner and active keys are the same. I know I need to change these for the best security so I want to know should I change these will contected to anchor wallet? Will this effect the connection with anchor wallet?

  2. I would prefer to link these private keys with my ledger nano s and anchor wallet so what way would be best to go about all this as I assume when I connect the ledger to anchor I get a new address do I need to send my eos there or can I connect my existing private key through anchor?

  3. I would then like to stake my eos on anchor is the new staking section in the recourses? When I staked the eos to cpu and ram in eos authority I didn’t get any staking rewards but from the videos it’s in the governance section

Some good questions! Welcome, and it seems like you’re on the right path.

I’ll break the various questions apart and try to answer.

Having a different active and owner key does help increase the security of your account. The basis are:

  • You use your active key for 99.9% of the time.
  • You keep your owner key offline. It’s purpose should be to reset your active key should you lose it or it becomes compromised.

It will. Anchor unfortunately right now doesn’t automatically follow any key changes you make. So if you change keys, you’ll likely need to remove the account and reimport it.

That sounds like a good idea. I have quite a few accounts setup to use my Ledger device as well!

You’ll want to install the EOS app on the Ledger using Ledger Live. Once it’s installed, you’ll run that, and then use the USB looking icon in the upper right of Anchor to enable Ledger support.

With the app running and connected to the computer, you can now start using it. The first thing you’ll need to do is go into “Tools” in Anchor, and then into the Ledger section. There’s a section titled Ledger - Public Key, which reads what the public key of your Ledger device is. To ensure Anchor isn’t wrong about the public key, there’s a Confirm Public Key using Device which will ask the Ledger to display the public key on the screen of the device. Ensure those match.

This will be your new public key if you choose to associate your account with the Ledger. This public key is bound to the seed phrase you backed up when you initially setup your Ledger, so if your device is ever lost, you can restore it and regain access to your EOS account using it.

Copy that Public Key, and make sure it’s copied correctly for this next step.

Now again in “Tools” in Anchor, go into Permissions. This section lets you change both the owner and active keys by setting a new public key. The public key you copied out of the Ledger section can be used in this interface to change the keys associated to your account.

You have some choices now based on how you want to reconfigure your account. You could:

  1. Set both the active and owner keys to match that of the Ledger. Both permissions will be as secure as your Ledger device. Performing any action on your account will require confirmation on the Ledger.
  2. Set the owner key to match the Ledger, and leave the active key as-is and treat it as a hot wallet. Your owner permission will be as secure as your Ledger, and your active key will remain in Anchor and be as secure as your computer is. You’ll be able to perform almost any action without needing the Ledger, and if your active key is ever compromised you’d then use the Ledger to recover it.
  3. Generate a new owner key offline, save that key someplace incredibly safe, and set it as the owner key. It’s essentially your paper backup. Then you could set the active key to match that of the Ledger and only ever use the offline owner key if you need to recover the account. Performing any action will require confirmation on the Ledger.

The choice is really up to you. I have accounts that use all of these methods. For accounts I frequently use, I use the 2nd option, so that way I don’t have to constantly grab the Ledger and confirm transactions on it. For high value accounts I typically do the 1st option.

I’ve written a lot here - so I’ll stop where I’m at, but if you have questions feel free to ask!

Yep! Resources is where you can stake to either CPU or NET.

Staking doesn’t actually give rewards - it gives resources currently (which is changing soon). There are a few other ways you can earn rewards, which the video may have referenced, but I’m not sure which video or what they were talking about :sweat_smile:

Happy to answer questions on this as well - but I’ll leave it as-is for now while you figure out your key situation.

Wow thanks so much for all this and for such a fast response.

So if I choose to associate the account with the ledger will I then have to send the funds to the ledger account or could I say leave the active key as it is now and then change the owner key to the ledger for safety? Would this leave the funds where they are while still connecting the ledger as the owner keys. So basically I no longer need eos authority? Anchor does everything that does?

I honestly been watching so many videos and reading articles and some bring scatter etc into it just became a bit confusing. The video I watch was from everstake on medium I think is where I say him go to the governance section but at the moment yeah this isn’t a major priority I just need to get my head around the ledger. I think I maybe best sending the eos to the ledger public key and storing them there using anchor and forgetting about the eos authority this maybe bringing in unecessary confusion. If I cant do what I asked above this is probably the least confusing way. Thanks again

The account itself is what holds the funds, you can just change the keys to the account without needing to transfer anything.

Yep, this is definitely a path you could take. The funds would stay where they are, the private key you’re using now would remain as-is and continue to allow you to access those funds, and the Ledger would then be what you’d use if your keys were ever stole and you needed to recover the account

Web wallets like EOS Authority are still pretty useful. Anchor does a lot of this stuff - but these web wallets do more. You can use Anchor to log into these web wallets, which gives you the security of Anchor with the ease of use of whatever tools they provide!

You have the freedom to choose whatever interface you’d like to use :+1:

Yeah - I get that. Things have changed so much over the past few years within EOS its a confusing experience. Many videos and guides are out of date which just adds to that confusion. It’s still changing too, hopefully all to make it better.

One step at a time seems like a good way to go. There’s a lot to learn!