Staking With Cardano

Staking With Cardano

By Loomy | Crypto Latest News | 18 Jun 2021


 

As Cardano (ADA) continues to grow there are many

people who do not know about the staking functionality.

 

With Cardano being a fully operational Proof of Stake (PoS)

there is a reward of around 5% returns for staking your coins.

 

 

To use this functionality it is recommended

to use paper wallets like Daedalus or Yoroi,

the UI's within these two applications

make for a really easy and hassle free experience. 

Using Daedalus is really simple and an example will be shown below

on what it looks like when choosing a pool.

 

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After downloading Daedalus or Yoroi, you will need to wait

about ~1 to 2 hours before you are completely synced with the blockchain.

This is done because your wallet will be a node while it is active and opened.

 

All you need to do once your wallet is synced with the blockchain is

click on a pool that you like and then click "Delegate to this pool" and

follow the three simple steps that follow.

There will be an initial "deposit" of 2 Cardano which

will be held until you stop delegating

but you will get this back when ever you decide to stop delegating.

 

Thank you for reading and I hope you start staking to get those sweet rewards!

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