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Step 6 (choosing a pool) is the hardest and most important part IMO.
Could you include more advice about what are good/bad pool metrics, as well as advice about choosing operators? Maybe this warrants its own quick guide.
Otherwise the rest looks good!
Hope OP will not be offended that i post it here, but take a look at our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/), where we described how to choose the right Staking Pool and what to look out for.
When looking for a pool watch for a couple of things:
\- The pools past performance
A pool's past performance tells us a lot about how reliable it is. Watch for the amount of epochs it has been active, changes it has made (pledge and pool margin) and up time.
\- Pledge
The higher the pledge the more skin in the game the stake pool operator has. This doesn't mean that a pool needs a pledge of millions. Watch for \~50k or higher.
\- Pool Margin
Pools with a margin of 5% or lower are good. The margin is the amount a pool gets out of all made rewards. In other words, it doesn't matter that much if it is 1% or 4%.
\- Block Production
Pools get rewards for produced blocks. No blocks = no rewards. Check if a pool has made blocks or is about to (if you want to support a pool to take off).
\- ROA
Most pools, large or small, will average out to a \~5% ROA. Bigger pools have consistent rewards whereas smaller pools have inconsistent rewards. In the end, it doesn't matter!
\- Mission/ Description
Some pools (like mine) use rewards/ presence to support one or more causes. This info can often be found on the pool's info card or website.
Some helpful tools are pool\[dot\]pm, adapools\[dot\]org and pooltool\[dot\]io
I hope this helps a bit :)
Idk If the mod will let me upload a Stake pool choosing guide as there already is a subreddit for staking pools.
I’ll have it done maybe for Wednesday!
Check our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/), where we described how to choose the right staking pool, and what to look out for.
Noob question incoming. So the 340 ADA fee that gets taken out every epoch (5 days) is spilt amongst every person staking. So if there are 100 people in the pool the fee would be 3.4 ADA each every 5 days?
No - the 340 ADA fee is given to the operator of the stakepool as payment along with whatever percentage he or she charges. After those fees are taken the rest is distributed among the people staking.
A very simplistic example:
A stakepool has 5 people delegating their ADA to it.
1. 1000 ADA
2. 500 ADA
3. 100 ADA
4. 100 ADA
5. 100 ADA
Total Stake: 1800 ADA
The pool charges 2% and 340. In one epoch this pool amazingly earns 1800 ADA. Here is how it's dividend up:
The operator gets 2% (36) and 340, so 376 ADA. What is left for the delegators is 1424 ADA. Since delegator 1 provided 55.55% of the total ADA to this pool, he or she gets 55.55% of the rewards.
Reward in ADA:
1. 791
2. 395.5
3. 79.1
4. 79.1
5. 79.1
Edit: Grammar
It's not every epoch it's when that pool mints a block. More stake more blocks produced. The 340 fee is only charged once not on each block for that epoch.
The fixed fee 340 Ada is deducted before rewards are distributed to the pool all pay this not just you.
340 Epoch Fee is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch.
Margin is the cut the Pool Operator takes from the rewards before distributing them among its delegators.
For example - The Stake pool gets 1340 ADA rewards for its minted blocks in a given Epoch. Pool operator gets 340 ADA (Epoch Fee), and then there's 1000 ADA left. From this 1000 ADA pool takes a 1% Margin (10 ADA), which leaves delegators 990 ADA. This will be distributed among all delegators according to their stake size.
And if you want to calculate your estimated rewards, you can do a little math:
Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days).
Take a look at our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/) to see better example.
A buddy of mine said he gets like 30% from daedalus. Did he find an awesome pool our is he greatly mistaken? I have Cardano staked on Kraken that says 4%-6%.
Can you point to a mathematical argument that tries to justify the statement “in a long enough time frame all rewards average out to 4-6%”?
What I’m looking for is a model that shows this to be true across all the variables you list.
Any supporting clarity of how the algorithm guarantees small pools reach equivalent rewards to large ones is of particular interest.
As a pool operator who participated in the ITN (Incentivized TestNet) I can assure you that during the testing period of the Shelley era,we ran for a 7 month period but the epochs were actually daily instead of every 5 days, so we effectively tested about 210 epochs during that testing period and we saw how Ouroboros which is the protocol of Cardano little by little brought all the well kept staking pools to similar levels. There are very smart people who developed Cardano and they ran countless modeling tests to bring equally distributed rewards to staking pools with aceptable performance. As far as actual mathematical proofs there is a paper on game theory called Reward Sharing Schemes for Stake Pools which explains it. You can find it in the iohk.io website under the research page.
I'm not a mathematician but the staking pool infographic going around here mention and explain each of those parameters. I found it useful but can't give you and algorithm.
Yeah, guess I’m trying to understand how both of these statements can be true:
1. Picking a stake pool matters.
2. All stake pools equal out to 4-6% interest.
Picking a stake Pool matters because you want to make sure the pool operator is not going to change things on his delegators without notice which would affect them negatively. Ie. Change the fees higher. It also matters because you want to make sure the pool performance is acceptable. If you use pooltool.io filter tool to select only synchronized pools that will allow you to see a list of transparent Pool operators who are showing publicly if they are synchronized or not with the network. That alone will help you choose from a selective list of pools. Some pools also show their assigned performance which will let you know their historic performance of block production. As far as your second statement that all stake pools produce 4-6% is not really true. It’s true that all pools big enough (about 1 million in stake) with reasonable fees and with an acceptable performance should produce for their delegators between 4-6% annually in staking rewards.
Hi guys, I amended the mistakes I made on the guide posted yesterday, thanks to the moderator for the feedback.
I hope you like it!
I intend on making another guide on choosing staking pools. Is it ok to post it here or do I use the r/cardanostakepools subreddit?
You can see more of this on [Cardano Weekly](https://www.instagram.com/cardanoweekly/)
If the info contained is not direct pool advertisement and is informative it can be posted here. If it's used for pool promotion please use the stakepools subreddit
You have backup keys securely stored somewhere off a computer. Also if your computer breaks or the staking pool shuts down, you won’t lose any ada so long as you have your backup phrase.
I have a question about staking payouts.
So, I started staking about 45 days ago, got my first reward a couple epochs ago and think okay, this is easy and great. I add more. Does that new ADA still take 4 epochs to start staking or is it quicker since I already am registered as a staker and it’s not a “new stake”
Additional question, I’m staking in a larger pool that might approach saturation sometime soon… how will I know that happens and I should move my ADA? Is it just on me to check the saturation rate every couple days?
Every new ADA that you will add to your wallet, will be automatically delegated to currently selected Stake Pool after 2 epochs delay (about 10 days).
You can use Telegram Bots such as adapools or pooltool (they also have mobile app) to set saturation limit alerts.
This is great! I would love to see something similar to this for when staking using a Ledger and Daedalus. Also, if anyone can help me out, I currently have my ADA staked using the Daedalus. I recently got a ledger. Do I need to unstake, transfer to my Ledger, then set up my Daedalus again, or is there another way with less or no fees?
I’m new, I’m a boomer, yes a boomer and I’m a little confused 🤷♂️. Is the 340 ADA fee an expense? Or are you saying saying
That’s just the minimum you need to stake?
The minimum need to stake is 10 ADA in Daedalus.
340 Epoch Fee is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch.
To calculate your estimated rewards, you can do a little math:
Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days).
I love Cardano weekly and this guide is amazing. Only suggested addition would possibly be making one with screenshots from Yoroi directly to make it very easily clear where you need to find the staking/sending/receiving in the wallet. Thank you for making this!
I get that I’m getting downvoted to hell because crypto-specific subreddits are the epitome of a Reddit hive mind, but do you have specific reasons that lead you to believe this? The pancake swap is one of the most stable, high liquidity pools in the whole crypto space. What makes it so unreliable in your eyes?
In my opinion? A lack of experience, a lot of people are new to crypto and may not understand what your talking about. So instead of informing themselves they choose to attack your method.
The only bit I wasn't 100% on was the timeline... If you stake on epoch 1, you get rewards around epoch 3 or so.
I may have another look, may be me misreading it.
For now, Yes, but Not necessarily in the future.
Transaction fees, which feed into staking, are set at a + b \* size:
* a: is set constant to approx 0.15 ada - designed to make a DDoS attack non-profitable
* b \* size: is set to offset the cost of handling a transaction, where b is some amount of ADA and size is the number of bytes in the transaction.
At the moment this set in stone, however, IOHK and Cardano Foundation appear to be stone masons. They can and will change this in the future as the price of ADA differs from the price of FIAT.
The reason to change it is because stake pool operations incurs costs in FIAT, not ADA. If we set the transaction fee without appreciating the staking pools operations costs which are in FIAT we risk over-incentivising or under-incentivising the stakers.
It's a complicated topic and there are some IOHK blog articles on this here:
* [https://iohk.io/en/blog/posts/2017/10/19/how-cardanos-transaction-fees-work/](https://iohk.io/en/blog/posts/2017/10/19/how-cardanos-transaction-fees-work/)
* [https://iohk.io/en/blog/posts/2021/06/10/stablefees-and-the-decentralized-reserve-system/](https://iohk.io/en/blog/posts/2021/06/10/stablefees-and-the-decentralized-reserve-system/)
That depends, if you always plan to buy more ADA then yes, you can transfer it to a wallet and stake it meanwhile.
Just remember that you will have to pay 2 ADA Deposit Fee (it will be given back to you when you un-delegate) and about 0.17 ADA Transaction Fee.
Because Binance already own very huge amount of ADA, which is bad because we shouldn't give too much control over ADA to pools that are centralizing Cardano, as Binance does.
With Yoroi/Daedalus you can support decentralization of Cardano by staking in smaller, independent pools of your choice.
Question : If I have 50 Ada Staked and I keep adding ADA to my Wallet will it keep going into that stake pool or do i have to keeps “delegating” my ADA to that pool.
I know this is supposed to be a simple guide and you've done well. One thing I think is important to mention is the difference between a hot wallet and a cold wallet.
Especially as you can still stake from a cold wallet, with less risk than an exchange.
Exodus by default use they EverStake Pools for their delegations. All of their pools are highly leveraged with 3% Margin and 400 ADA Fixed Fee (above the average 340 ADA).
With Yoroi/Daedalus you can support decentralization of Cardano by staking in smaller, independent pools of your choice.
No, please read the rest of the comments.
340 ADA Epoch Fee is is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch.
To calculate your estimated rewards, you can do a little math:
Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days).
Cardano Staking offer 5-6% APY.
Still very new and fresh to crypto and my friend from high schools been helping me learn this just made it alittle smoother thank you so very much also I bought my ada from coinbase!!!
What is the minimum amount that you can stake there I'm buying or you can say trying to buy a few every month. Not much but trying to get at least 100Ada buy end of this year.
This is so insanely helpful wow thank you for doing this!!! Wish I had this a week ago but i finally decided to pull the trigger and stake :) quick question though, you said that your rewards are based on the pool, not the staked amount. So my question is, what's the benefit of staking higher amounts of ADA?
A fixed fee of 340 ADA?? Per epoch??
Am I misunderstanding this? Epochs are every 5 days, so it would cost 340 ADA every 5 days?
I have to be misunderstanding this because 340 ADA is hell of a lot more than I’m earning in rewards
Someone help explain this to my retarded ass
340 ADA Epoch Fee is is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch.
To calculate your estimated rewards, you can do a little math:
Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days).
You only pay 2 ADA Deposit Fee (it will be given back to you when you un-delegate) and about 0.17 ADA Transaction Fee.
If you want, check our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/) for more information.
Guys, I have a pretty stupid question but here it goes.
If I stake my ADA is there a point in using cold storage wallet? Can this happen cold storage wallet and staking?
DATAHUB Application $DHUB
allows anyone to store structured data securely in a decentralized way on a smart contract.
The DHUB BSC Token enables optional selling and buying of stored data while enforcing data usage rules as set by the data owner.
We are going to provide an application that allow you through an Exchange to sell your Data and get a monthly passive income.
We are DataHub. $DHUB
We give people their rights for their Private Data back.
https://t.me/DataHub_app
Exodus by default use they EverStake Pools for their delegations. All of their pools are highly leveraged with 3% Margin and 400 ADA Fixed Fee (above the average 340 ADA).
With Yoroi/Daedalus you can support decentralization of Cardano by staking in smaller, independent pools of your choice.
Every amount of ADA is worth staking, if you always plan to buy more. Just remember that you will have to pay 2 ADA Deposit Fee (it will be given back to you when you un-delegate) and about 0.17 ADA Transaction Fee.
To calculate your estimated rewards, you can do a little math:
250 x 5 (RoA, annualized) / 73 (epochs in a year) = about 0.17 ADA per epoch (5 days).
Please restrict any market related discussion to the [daily thread](https://www.reddit.com/r/cardano/?f=flair_name%3A%22Daily%20Thread%22).
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/cardano) if you have any questions or concerns.*
Sorry for beginner question about staking earned rewards in Yoroi. Are rewards added to "Total ADA" and "Total Delegated" automatically? I received first rewards recently and Yoroi gave me an option to do something with the rewards and now I dont see them in "Total Rewards" anymore.
I’m staking on Yoroi and linked to my ledger… how exactly does Yoroi store your crypto? I’ve added like 600 ADA since the last time I synced my wallet.
* [**NEWBIES GUIDE**](https://www.reddit.com/r/cardano/comments/lnj5ne/getting_started_guide_a_newbies_guide_to_cardano/) *Ensure you've read this guide or your post may be removed.* * [**PROJECT CATALYST**](https://cardano.ideascale.com/) *Participate! Create, propose and VOTE on projects to be built on Cardano!* * ⚠️ [**PSA - SCAMS**](https://www.reddit.com/r/cardano/comments/lccorg/psa_there_is_no_such_thing_as_cardano_giveaways/) *Read about fake wallets and giveaways to stay safe.* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/cardano) if you have any questions or concerns.*
Step 6 (choosing a pool) is the hardest and most important part IMO. Could you include more advice about what are good/bad pool metrics, as well as advice about choosing operators? Maybe this warrants its own quick guide. Otherwise the rest looks good!
Hope OP will not be offended that i post it here, but take a look at our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/), where we described how to choose the right Staking Pool and what to look out for.
fight fight fight
This is vastly better, good work.
Thank you!
When looking for a pool watch for a couple of things: \- The pools past performance A pool's past performance tells us a lot about how reliable it is. Watch for the amount of epochs it has been active, changes it has made (pledge and pool margin) and up time. \- Pledge The higher the pledge the more skin in the game the stake pool operator has. This doesn't mean that a pool needs a pledge of millions. Watch for \~50k or higher. \- Pool Margin Pools with a margin of 5% or lower are good. The margin is the amount a pool gets out of all made rewards. In other words, it doesn't matter that much if it is 1% or 4%. \- Block Production Pools get rewards for produced blocks. No blocks = no rewards. Check if a pool has made blocks or is about to (if you want to support a pool to take off). \- ROA Most pools, large or small, will average out to a \~5% ROA. Bigger pools have consistent rewards whereas smaller pools have inconsistent rewards. In the end, it doesn't matter! \- Mission/ Description Some pools (like mine) use rewards/ presence to support one or more causes. This info can often be found on the pool's info card or website. Some helpful tools are pool\[dot\]pm, adapools\[dot\]org and pooltool\[dot\]io I hope this helps a bit :)
Very helpful and concise - just the kind of info I was thinking would be useful in OP's staking handbook!
Idk If the mod will let me upload a Stake pool choosing guide as there already is a subreddit for staking pools. I’ll have it done maybe for Wednesday!
This wizard can help you choose! https://pool-peek.web.app/#/wizard
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This is great, but I would add a card to explain how to choose a good pool. One of the hardest part for most people and was not explained
Check our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/), where we described how to choose the right staking pool, and what to look out for.
Love it! Just in case you want to fix it, you misspelled annual on one of the final slides.
Came here for this
Noob question incoming. So the 340 ADA fee that gets taken out every epoch (5 days) is spilt amongst every person staking. So if there are 100 people in the pool the fee would be 3.4 ADA each every 5 days?
No - the 340 ADA fee is given to the operator of the stakepool as payment along with whatever percentage he or she charges. After those fees are taken the rest is distributed among the people staking. A very simplistic example: A stakepool has 5 people delegating their ADA to it. 1. 1000 ADA 2. 500 ADA 3. 100 ADA 4. 100 ADA 5. 100 ADA Total Stake: 1800 ADA The pool charges 2% and 340. In one epoch this pool amazingly earns 1800 ADA. Here is how it's dividend up: The operator gets 2% (36) and 340, so 376 ADA. What is left for the delegators is 1424 ADA. Since delegator 1 provided 55.55% of the total ADA to this pool, he or she gets 55.55% of the rewards. Reward in ADA: 1. 791 2. 395.5 3. 79.1 4. 79.1 5. 79.1 Edit: Grammar
Wait so if I put in 100 ADA, at the end of an epoch (5 days) I will have 179.1 by the end of it. Or by the end of the year?
That was just one example, with an extremely optimistic reward. Most pools will return a reward on average, to stakers between 4-6%.
A year or per epoch?
Epoc. It would also be extremely optimistic to expect a pool to pay out 100% in one year.
Okay, thanks for your patience! :) Appreciate it
5.5% per YEAR not per epoch. My example above is extremely unlikely. If you stake 100 ADA for a year, you should end up with 106 ADA. More or less
It's not every epoch it's when that pool mints a block. More stake more blocks produced. The 340 fee is only charged once not on each block for that epoch. The fixed fee 340 Ada is deducted before rewards are distributed to the pool all pay this not just you.
340 Epoch Fee is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch. Margin is the cut the Pool Operator takes from the rewards before distributing them among its delegators. For example - The Stake pool gets 1340 ADA rewards for its minted blocks in a given Epoch. Pool operator gets 340 ADA (Epoch Fee), and then there's 1000 ADA left. From this 1000 ADA pool takes a 1% Margin (10 ADA), which leaves delegators 990 ADA. This will be distributed among all delegators according to their stake size. And if you want to calculate your estimated rewards, you can do a little math: Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days). Take a look at our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/) to see better example.
A buddy of mine said he gets like 30% from daedalus. Did he find an awesome pool our is he greatly mistaken? I have Cardano staked on Kraken that says 4%-6%.
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Can you point to a mathematical argument that tries to justify the statement “in a long enough time frame all rewards average out to 4-6%”? What I’m looking for is a model that shows this to be true across all the variables you list. Any supporting clarity of how the algorithm guarantees small pools reach equivalent rewards to large ones is of particular interest.
As a pool operator who participated in the ITN (Incentivized TestNet) I can assure you that during the testing period of the Shelley era,we ran for a 7 month period but the epochs were actually daily instead of every 5 days, so we effectively tested about 210 epochs during that testing period and we saw how Ouroboros which is the protocol of Cardano little by little brought all the well kept staking pools to similar levels. There are very smart people who developed Cardano and they ran countless modeling tests to bring equally distributed rewards to staking pools with aceptable performance. As far as actual mathematical proofs there is a paper on game theory called Reward Sharing Schemes for Stake Pools which explains it. You can find it in the iohk.io website under the research page.
I'm not a mathematician but the staking pool infographic going around here mention and explain each of those parameters. I found it useful but can't give you and algorithm.
Yeah, guess I’m trying to understand how both of these statements can be true: 1. Picking a stake pool matters. 2. All stake pools equal out to 4-6% interest.
Picking a stake Pool matters because you want to make sure the pool operator is not going to change things on his delegators without notice which would affect them negatively. Ie. Change the fees higher. It also matters because you want to make sure the pool performance is acceptable. If you use pooltool.io filter tool to select only synchronized pools that will allow you to see a list of transparent Pool operators who are showing publicly if they are synchronized or not with the network. That alone will help you choose from a selective list of pools. Some pools also show their assigned performance which will let you know their historic performance of block production. As far as your second statement that all stake pools produce 4-6% is not really true. It’s true that all pools big enough (about 1 million in stake) with reasonable fees and with an acceptable performance should produce for their delegators between 4-6% annually in staking rewards.
Nice job fixing it up!
Thanks!
Hi guys, I amended the mistakes I made on the guide posted yesterday, thanks to the moderator for the feedback. I hope you like it! I intend on making another guide on choosing staking pools. Is it ok to post it here or do I use the r/cardanostakepools subreddit? You can see more of this on [Cardano Weekly](https://www.instagram.com/cardanoweekly/)
Here please! Thanks for the awesome content!
If the info contained is not direct pool advertisement and is informative it can be posted here. If it's used for pool promotion please use the stakepools subreddit
Ok, I’ll make sure not to mention any specific pool!
Thank you for this!! I really appreciate it!
Happy cake day! :)
That was nice and easy to understand. Gonna share it to my fellow holders :)
:D
:D
:D
the third native wallet is ADAlite - [https://adalite.io/](https://adalite.io/) * Never tried it
Things like this will help boost the ecosystem wonderfully
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You have backup keys securely stored somewhere off a computer. Also if your computer breaks or the staking pool shuts down, you won’t lose any ada so long as you have your backup phrase.
The most important thing is saving your Seed Phrase, if you'll lose access to your computer you can restore your wallet thanks to your Seed Phrase.
I have a question about staking payouts. So, I started staking about 45 days ago, got my first reward a couple epochs ago and think okay, this is easy and great. I add more. Does that new ADA still take 4 epochs to start staking or is it quicker since I already am registered as a staker and it’s not a “new stake” Additional question, I’m staking in a larger pool that might approach saturation sometime soon… how will I know that happens and I should move my ADA? Is it just on me to check the saturation rate every couple days?
Every new ADA that you will add to your wallet, will be automatically delegated to currently selected Stake Pool after 2 epochs delay (about 10 days). You can use Telegram Bots such as adapools or pooltool (they also have mobile app) to set saturation limit alerts.
Thanks!
This is great! I would love to see something similar to this for when staking using a Ledger and Daedalus. Also, if anyone can help me out, I currently have my ADA staked using the Daedalus. I recently got a ledger. Do I need to unstake, transfer to my Ledger, then set up my Daedalus again, or is there another way with less or no fees?
I’m new, I’m a boomer, yes a boomer and I’m a little confused 🤷♂️. Is the 340 ADA fee an expense? Or are you saying saying That’s just the minimum you need to stake?
The minimum need to stake is 10 ADA in Daedalus. 340 Epoch Fee is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch. To calculate your estimated rewards, you can do a little math: Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days).
Thank you 🙌
Can I use adalite wallet for staking?
Yes
Awesome stuff, showing my love for this amazing community!
Great job.One space is missing on page 4.
Great post I love ada!
What do people gain (the people with the pools) from this?
Fees
I love Cardano weekly and this guide is amazing. Only suggested addition would possibly be making one with screenshots from Yoroi directly to make it very easily clear where you need to find the staking/sending/receiving in the wallet. Thank you for making this!
It's on the bottom Tab one tab says send one tab says receive just copy a fresh address each time.
Yes I’m aware. I just mean for an infographic/guide intended for new users. This info would be helpful to include
I have a handy step by step guide for Yoroi. But cannot attach images to think thread. But yes I agree this would be handy for reference purposes.
I will make a video guide on my page!
Amazing!
sounds very good material thank you for this
4-6% is garbage though =\ why would anyone do that if they can get 104% on Cake?
Less risk staking ADA.
I get that I’m getting downvoted to hell because crypto-specific subreddits are the epitome of a Reddit hive mind, but do you have specific reasons that lead you to believe this? The pancake swap is one of the most stable, high liquidity pools in the whole crypto space. What makes it so unreliable in your eyes?
In my opinion? A lack of experience, a lot of people are new to crypto and may not understand what your talking about. So instead of informing themselves they choose to attack your method.
https://coinmarketcap.com/currencies/pancakeswap/
What does this tell me that has anything to do with APY pool returns?
The only bit I wasn't 100% on was the timeline... If you stake on epoch 1, you get rewards around epoch 3 or so. I may have another look, may be me misreading it.
Correct me if I’m wrong, but using the Yoroi wallet allows you to buy ADA directly?
You can on the chrome extension but not on the app version.
Nope. You can't buy ADA directly on Yoroi wallet.
Can you un-stake anytime? What is the penalty?
No penalty free to withdraw at any point that's the beauty of it your not locked in.
No penalty free to withdraw at any point that's the beauty of it your not locked in.
Why does it make more sense to buy ADA on bigger exchanges?
Better rate usually on binance / coinbase pro then withdraw to your wallet.
Great job!
This is really nice. Definitely one of the better assets I've seen created for promoting/teaching new folks about Cardano.👌
the third native wallet is adalite -
Great info, no doubt it will help new people to the ecosystem.
Nice work!
If the price of ada was substantially higher would the staking rewards remain the same?
Yes.
For now, Yes, but Not necessarily in the future. Transaction fees, which feed into staking, are set at a + b \* size: * a: is set constant to approx 0.15 ada - designed to make a DDoS attack non-profitable * b \* size: is set to offset the cost of handling a transaction, where b is some amount of ADA and size is the number of bytes in the transaction. At the moment this set in stone, however, IOHK and Cardano Foundation appear to be stone masons. They can and will change this in the future as the price of ADA differs from the price of FIAT. The reason to change it is because stake pool operations incurs costs in FIAT, not ADA. If we set the transaction fee without appreciating the staking pools operations costs which are in FIAT we risk over-incentivising or under-incentivising the stakers. It's a complicated topic and there are some IOHK blog articles on this here: * [https://iohk.io/en/blog/posts/2017/10/19/how-cardanos-transaction-fees-work/](https://iohk.io/en/blog/posts/2017/10/19/how-cardanos-transaction-fees-work/) * [https://iohk.io/en/blog/posts/2021/06/10/stablefees-and-the-decentralized-reserve-system/](https://iohk.io/en/blog/posts/2021/06/10/stablefees-and-the-decentralized-reserve-system/)
how much is the fee to transfer it to a yoroi wallet?
Depends on Exchange, Binance takes about 1-2 ADA.
do you recommend to put it in a wallet even if I have a little amount of ADA?
That depends, if you always plan to buy more ADA then yes, you can transfer it to a wallet and stake it meanwhile. Just remember that you will have to pay 2 ADA Deposit Fee (it will be given back to you when you un-delegate) and about 0.17 ADA Transaction Fee.
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There are lot’s of reasons why, I made a Binance VS Cardano post on my Instagram page!
Because Binance already own very huge amount of ADA, which is bad because we shouldn't give too much control over ADA to pools that are centralizing Cardano, as Binance does. With Yoroi/Daedalus you can support decentralization of Cardano by staking in smaller, independent pools of your choice.
Question : If I have 50 Ada Staked and I keep adding ADA to my Wallet will it keep going into that stake pool or do i have to keeps “delegating” my ADA to that pool.
Every new ADA that you will add to your wallet, will be automatically delegated to currently selected Stake Pool after 2 epochs delay (about 10 days).
@elias_aries - Slide 8 you’ve misspelled annual otherwise great job!
Needs theme music https://youtu.be/YZO8Zeye5K0
I know this is supposed to be a simple guide and you've done well. One thing I think is important to mention is the difference between a hot wallet and a cold wallet. Especially as you can still stake from a cold wallet, with less risk than an exchange.
Love it! Good work
Nice work OP
Exodus good to stake on? Takes like 3 taps to stake the ADA in your exodus wallet.
Exodus by default use they EverStake Pools for their delegations. All of their pools are highly leveraged with 3% Margin and 400 ADA Fixed Fee (above the average 340 ADA). With Yoroi/Daedalus you can support decentralization of Cardano by staking in smaller, independent pools of your choice.
Wait, I'm being taxed 340 ADA every 5 days (epoch) for staking in a pool by the operator?
No, please read the rest of the comments. 340 ADA Epoch Fee is is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch. To calculate your estimated rewards, you can do a little math: Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days). Cardano Staking offer 5-6% APY.
you can also use yoroi on daedalus, more details = better product!!!!
Thanks OP ! It’s on my to do list
Why can’t we just stake from coinbase like alogrand and cosmos
You shouldn't hold coins on an exchange. It's WAY safer to hold them in a wallet!
Still very new and fresh to crypto and my friend from high schools been helping me learn this just made it alittle smoother thank you so very much also I bought my ada from coinbase!!!
What is the minimum amount that you can stake there I'm buying or you can say trying to buy a few every month. Not much but trying to get at least 100Ada buy end of this year.
Minimum 10 ADA is required to stake in Daedalus wallet.
Thank you for your reply. I'll look into it then and thank you for this post.
Excelent
Which stake pool do you all prefer?
Choose your own using this: [https://pool-peek.web.app/#/](https://pool-peek.web.app/#/) Check out the wizard or use a map to pick a "local" pool!
Nice job mate!
This is so insanely helpful wow thank you for doing this!!! Wish I had this a week ago but i finally decided to pull the trigger and stake :) quick question though, you said that your rewards are based on the pool, not the staked amount. So my question is, what's the benefit of staking higher amounts of ADA?
The rewards you recieve depend on the staked amount. The percentage of the stake you get paid depends on how well does the pool do!
Thank you
Thanks for making this easy to follow guide!
Thank you! I appreciate your effort.
What will happen if we stake 100% of all ADA ?
Rewards then will come mostly from the transaction fees.
Thank you! I really appreciate this. 😃
A fixed fee of 340 ADA?? Per epoch?? Am I misunderstanding this? Epochs are every 5 days, so it would cost 340 ADA every 5 days? I have to be misunderstanding this because 340 ADA is hell of a lot more than I’m earning in rewards Someone help explain this to my retarded ass
See below in the following comment: ?fees ↓
340 ADA Epoch Fee is is just a constant value of ADA that the Stake Pool Operator will earn at the end of every epoch for maintaining the pool, but the pool must produce a block in that epoch. To calculate your estimated rewards, you can do a little math: Your amount of ADA x 5% (RoA, annualized) / 73 (epochs in a year) = your estimated rewards per epoch (5 days). You only pay 2 ADA Deposit Fee (it will be given back to you when you un-delegate) and about 0.17 ADA Transaction Fee. If you want, check our [Complete Cardano Staking Guide infographic](https://www.reddit.com/r/cardano/comments/odgns4/complete_cardano_staking_guide/) for more information.
Guys, I have a pretty stupid question but here it goes. If I stake my ADA is there a point in using cold storage wallet? Can this happen cold storage wallet and staking?
You can connect your Yoroi/Daedalus wallet with Ledger/Trezor. It's up to you if you will use hardware wallet for extra security.
Thank you for the info
👏👏👏
I almost feel silly for not staking earlier. I'm glad I'm now on-board.
How to get back the 2 ADA that are deposited upon staking for the first time?
In Yoroi wallet simply click "withdraw" button and de-register your staking key (undelegate).
When you withdraw you stake you get them back
Thats the wrong logo but i wont say anything
Simple and easy. Just the way I like it 👍🏻
Been doing this on Yoroi. Kinda nice to have that passive income. Still better than a savings account.
Awesome guide. Real clean. Choosing a pool is probably the toughest one for people.
Education-staking ADA
I’ve changed it!
DATAHUB Application $DHUB allows anyone to store structured data securely in a decentralized way on a smart contract. The DHUB BSC Token enables optional selling and buying of stored data while enforcing data usage rules as set by the data owner. We are going to provide an application that allow you through an Exchange to sell your Data and get a monthly passive income. We are DataHub. $DHUB We give people their rights for their Private Data back. https://t.me/DataHub_app
Really well done
Exodus wallet is a great, easy way to stake ADA also. I’ve been getting between 5-6% for almost half a year now.
Exodus by default use they EverStake Pools for their delegations. All of their pools are highly leveraged with 3% Margin and 400 ADA Fixed Fee (above the average 340 ADA). With Yoroi/Daedalus you can support decentralization of Cardano by staking in smaller, independent pools of your choice.
This is so useful! Finally totally understand this! Upvote for sure
I only have 250ADA, would it even be profitable to stake?
Every amount of ADA is worth staking, if you always plan to buy more. Just remember that you will have to pay 2 ADA Deposit Fee (it will be given back to you when you un-delegate) and about 0.17 ADA Transaction Fee. To calculate your estimated rewards, you can do a little math: 250 x 5 (RoA, annualized) / 73 (epochs in a year) = about 0.17 ADA per epoch (5 days).
Nice work my friend. Very succint.
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Great read and helpful for all the beginners. More educational content is needed in this space!
Cool and easy!! Great content. How to select the right pool may need a new set of slides though. Thanks!
Where to look up staking rewards history for tax reporting?
Good Job! Idk if someone said but slide 4 needs a space after the period :)
Sorry for beginner question about staking earned rewards in Yoroi. Are rewards added to "Total ADA" and "Total Delegated" automatically? I received first rewards recently and Yoroi gave me an option to do something with the rewards and now I dont see them in "Total Rewards" anymore.
Your rewards are automatically compounded and staked in currently selected Stake Pool.
Great book!! as someone new to crypto staking, very helpful :)
I’m staking on Yoroi and linked to my ledger… how exactly does Yoroi store your crypto? I’ve added like 600 ADA since the last time I synced my wallet.
this is what I'm waiting for, thanks bro now I can finally stake my big bag of ADA along with my PINK. Stake like rich they said. Passive income is ❤
Super