HOW TO STAKE ADA VIA DAEDALUS WALLET

YOUR FUNDS STAY SAFE AND IN YOUR WALLET IF YOU STAKE THEM. YOU DO NOT NEED TO SEND YOUR ADA ANYWHERE. ALL ADA STAY IN YOUR WALLET AND THEY ARE NOT LOCKED. STAKING IS JUST AS SAFE AS LEAVING YOUR ADA IN YOUR WALLET. IF YOU HAVE ANY QUESTIONS, JUST WRITE ME AN EMAIL.

 

First of all, download the newest Daedalus wallet version from https://daedaluswallet.io/en/download/ and install it on your desktop. Create or import a wallet and send your funds to this wallet. Don’t let your funds on exchanges. Not your keys not your coins! If you don’t know how to set up a wallet, just google, there are plenty of tutorials online. If you are unsure, do not hesitate to write me an email.

 

Alright – when your funds are on your Daedalus wallet and your wallet is fully synced, we can start delegating. If the check mark is displayed as shown in the picture below, the wallet is fully synchronized.

On the left side of the Daedalus wallet you will see the following symbols:

 

Click on the following symbol:

 

Welcome to the delegationcenter!

 

Now click on Stake pools and you will see a list of all pools available:

You can enter the ticker of your favorite pool or choose one from the list. You can search the pool name, pool ticker or pool ID. When you click on a pool, you can see its properties:

In this example, it displays SIMON’S POOL. Yeah, that’s my pool 😊

The rank is unimportant at the time, later on they will be ranked according to their performance. The controlled stake shows the percentage of how many ADA are currently delegated to this pool in reference to the circulating supply. In my case, it’s very low at the time….. damn – but I’m confident it will get better 😊

The pool margin describes the percentage that I as a pool operator receive after each epoch. that means, if the last epoch generated profits of 10,000 ADA, for example, 2% of that (pool margin), or 200 ADA, goes to me to cover my costs. I also get 340ADA per epoch. That is the so called “Cost per epoch”.

 

So in this example I would get 540 ADA and the rest, i.e. 9460 ADA, would be divided among the delegates. The “Pledge” is unimportant for you as a delegator.

 

It is the "stake" of the pool operator. The pool operator receives a little more for the pledge than if he staked his coins normally.

 

So, when you have found the pool to which you want to delegate, simply click on "Delegate to this pool"

Then a window opens, which briefly explains the next steps. Just click on "Continue".

Just follow the steps Daedalus asks you – you can again choose a stake pool and after that you have to confirm your selection. Now you have to make a small transaction (delegation costs about ~2ADA) to confirm your delegation to the blockchain.

 

And that’s it! Easy as that!

 

If you have questions, just write me an Email or find me on twitter. I’d love to help you along.

Have a nice day, stay free, choose Cardano!

Simon

© 2020 SIMON'S POOL