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How To Stake Cardano (ADA) - Smart Contracts and DeFi?

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Cardano has been heating up again in the markets and news as the block chain has announced it will be adding in a smart-contract update to the platform. This smart-contract update is what allows for things such as NFTs and primarily at the moment DeFi which means ADA could very well be opening it's doors into the DeFi space here shortly.

The speculation price point of ADA after the fork takes places is $5 per ADA of course that is not set in stone nor is it investment advice. It's simple speculation from people. Of course normal speculation always falls far short of that so that puts me at around $2 - $2.50 price point if all goes well. However if ADA does launch DeFi this price could drastically go up quickly based on demand.

Staking Cardano (ADA)

  • When do I earn get paid rewards for staking? 15-20 days on average are when payouts are done on ADA staking so just a little short of two cycles per month.

  • Minimum amount to stake? 10 ADA

  • What is the average payout for staking? 5.5% depending on the pools you belong to which will change. ADA has a built in system that makes it so a heavily staked pool will earn less rewards then a mid tier pool. This is to attempt to prevent any one major pull from getting to much power in the chain.

  • Can you remove your ADA from staking at any time? YES!

  • What wallets support ADA? ADA is a Delegate stake which means you remain in control of your ADA when you delegate it out. This removes a lot of the risk involved with current staking system in which you have to send ownership of the coins to another wallet in order to pool and stake. This can lead to rug pulls from untrusted platforms.

Yoroi Wallet is one of the most popular wallets to stake ADA from Supports Android, iOS, Firefox, Edge and Chrome(brave) extensions)

Daedalus (Windows, Mac, Linux)

As ADA(Cardano) increases in popularity and usage I am sure we will see many other wallets start supporting it such as Ellipal, keepkey etc.

  • How To Delegate Every wallet will have their own UI but what you will need to find is the delegation list and it's important to take note of the saturation. A heavy saturation is going to cause for a lower reward so you'll want to check this once in a while to make it as optimal as possible.

Select from the list and enter in the amount you want to delegate to. Type in how much (I would recommend 10 at the lowest) add your password and delegate it. Remember 15-20 days before you start seeing rewards (it's a bit long compared to others which is one of the aspects I don't like) I like seeing them live or quick like we see on hive every 3 seconds.

Another important factor is when you delegate your ADA it might not yet be "active" on that Epoch that means the current one has not yet completed and it wont go active until the next Epoch which then will start earning you rewards. So there's a good bit of time delay there compared to some other blockchains. I guess that's a way to make sure funds don't move too rapidly from one to another and inputs some type of control into the blockchain.

Posted Using LeoFinance Beta