At any point you can change the pool that you have delegated your Cardano to and you are not penalized or have to go through unlock times like some other cryptocurrencies.
Should You Change your Cardano Stake Pool
In general if you pick a good pool at the start that you know and trust the only reason you should ever need to consider changing is if the pool is becoming saturated which means that there is too much ADA delegated to that pool so the rewards will start to decline. If your pool has an announcement channel or email list I would recommend signing up to it so you can keep up to date with any important pool information which saves you having to check the pool stats every epoch.
Below are some of the reasons you might want to change your ADA staking pool.
- The pool you are in is saturated
- You want to support another stake pool operator who is giving back to the community
- The pool you are in is not reliable and has too much down time
How do you change the Cardano stake pool you are delegating to?
Below is a video I done walking through how to change the stake pool you are delegating to. The process is very straight forward and only takes a few minutes.
If you are looking for a new reliable pool to delegate to then please consider my own pool CardanoWithPaul which has the tick PAUL.
If you have any questions let me know in the comments below this post or in the comments on the video
Im staking with adlt at present and im informrd the pool will become saturated soon and i should move before 6th dec. Im subscribed to your channel and was wondering how the take up is with your pool as im considering you as your irish like myself. Im new to staking and am just a little concerned of any risk in moving and am wondering what the returns are with your pool as its new and any benefits you might add.
looking forward to your comments
Thanks for your time, btw i enjoy your channel content. Also i was wondering whats your thoughts on Elrond if any…
Hey John, thanks for following my channel, great to have more Irish people involved in Crypto and following along.
From a technical aspect my pool is fully up and running and 100% up time so far with no issues, I have a strong security conscious team behind it so I have no worries on that side at all.
The stake is up to 300k ADA now which is good to see it growing as its a new pool. For the current epoch I have an 11% chance of a block so I need to get the stake up over 500k to have a really good chance in the next epoch, once we get over 1m it should be min 1 block per epoch then. I have had people reach out to say they are watching and going to stake once I start producing blocks, the catch with a new pool is that it needs people staking to start minting blocks but some people want to see the blocks before staking which I understand too.
Big pools generally give you consistent returns once they aren’t saturated, with smaller pools (under 5m) you have the chance of higher returns initially if they produce blocks as the rewards for a block are the same for every pool but in a smaller pool there are less delegators to share the rewards. A big pool gets more blocks and hence more total pool rewards but there are alot more people to share the rewards so they generally avg out around 5% APY.
Feel free to drop me a message on email@example.com or join the telegram group (https://t.me/CardanoWithPaul) and send me a DM if you ahve any questions.
I stake my ADA in paul 2 and I want to see my reward
But I can’t see
I want see my Sunday swap rewa Reward
Sundaeswap rewards wont start until they start the ISO and once they do there will be a process to claim which I will cover in a tutorial once they release it.
where I can see the tutorial for Sundaeswap?
They haven’t started the ISO yet so I have to wait until that to see the process for the tutorial
For anyone following this thread we hit our first block this epoch which is great and the pool is now up to 930k stake and rising. Lots of room for anyone looking for a pool to stake to
Like the channel and glad I came across you.
I want to stake with you, but I don’t want to throw everything in one spot without really understanding what I’m doing. I’m trying to stake some, but not all of the ADA that I have.
Let say if I have a 1,000 ada, but only want to stake 500 ada. How would I do that?
Hey MK, thanks for checking out my blog and channel. I also appreciate you choosing my pool.
With Cardano staking you delegate your full wallet so it stakes all the ADA in that wallet to one pool. When you stake you cant lose any of the coins you already own, the only cost is the transaction fee to register your stake key (about 0.17 ADA) and the 2 ADA deposit which you get back when you unregister your stake key.
Cardano doesn’t lock your coins either so you can move them at any time if you are staking. They will have a feature in the future that allows you to delegate to multiple pools from the same wallet but for now the only way to delegate to multiple pools is to have funds in different wallets.
If you have any other questions just let me know.
so im confused i just staked my ada with a pool and i started on epoch 244 from what i understand you start generating rewards after two epochs. we are now on epoch 247 it is also understood that generating rewards can take up to 15 to 20 days my 20th day will be on 2/14/2021.
lastly on my yoroi wallet it says withdraw but i can’t. is it because i have to wait until i get my first rewards please help me understand how this works because my ada is locked in this pool and i can’t withdraw…
Based on them dates I think your first payout should be the end of the current epoch. You start earning after 2 epochs and then you get paid out for that at the end of the following epoch
okay thanks also i am subscribed to your channel great content my guy!!
I am new to staking but learning slowly but surely.Your blogs very helpful
.I have been able to figure out most of the stuff but unable to figure out if i can stake more than 10ADA per wallet and or pool ?
if so,how ? never see anything deducted from my wallet except deposit and service charges,is it how usually it works ?
Thanks in advance.
Hey Raj, when you delegate it delegates your full wallet balance so you dont have to choose how much is staked. There is no max on how much you can stake in one wallet either
Hi Paul I staked in your Paul 2 pool, thought it would collect Sundae swap tokens in the ISO? Am I wrong should I switch to the Paul1 pool to collect rewards
Hey Ken, yes it does earn rewards but there will be a claim process for them which Sundae haven’t realised yet. I will cover it in a video as soon as its out
Hi there Paul,
I’m a new follower of yours and also new to the crypto game. A month ago i’ve decided to dive into the crypto’s and in particulair ADA which led me to your video’s. Not long after i’ve both my first ADA’s which I transferred over to my yoroi wallet and at the time I didnt knew much about staking pools so I just selected the top one. I am awaiting for my unlocking period and I want to support your channel. What happens if I un-delegate to my current pool and switch over to your pool? Does the warming up period refresh or are there any consequences to this?
Thank you for the amazing content!
Thanks Alex I appreciate that, with Cardano you are free to redelegate or move your ADA at any time. When you redelegate you will still be earning rewards in your old pool while waiting to start in the new pool so you shouldn’t miss any payouts. Thanks
Hi Paul, a big fan of your ADA YouTube here from Floirda – what’s the ideal quantity of ADA to stake with you or the more ADA the better? Trying to stay as close as possible to the 5% yield.
You should get around the 5% no matter how much you stake in the pool. The more stake the more you get back but it will always be about 5% over the year on your stake amount/ Thanks
hey cardano paul i accidentally staked my ada twice to the same pool and now in my transaction history it says minus 8,830 ada and was sent to some address that says not mine following the address is there anyway to recover my ada from making this mistake please help I’m freaking out
Do you still see the ADA in your balance? The system will let you delegate as many times as you want and it will move to a new address every time but all addresses are internal addresses within your own wallet
no, the available balance is 0.000000 and it still says -8,830 ada sent this was after i delegated it twice to the same pool.
i spoke to the guy who I’m delegated to and he said that it should reverse but didn’t say when… i never sent it anywhere else i just delegated it twice to the same pool
What wallet are you using? It shouldn’t have to reverse as it shouldn’t have left your wallet. If you want to send me a screenshot of the transactions and what it shows for your balance you can send it to firstname.lastname@example.org
i sent you the screenshot through our email conversation
I checked my emails but didn’t see anything. You will need to send it as a separate email to email@example.com rather than replying to this comment thread as this thread wont accept attachments
okay sent it to right address firstname.lastname@example.org sorry again
yoroi wallet is what I am using
I’m using the Daedalus wallet. If I add ADA to a wallet that I am already staking, is that new total already staked, or is there something I else need to do to increase the staked amount?
ok – maybe I fgured it out… when I look at my stakekey, it shows all the transactions in the wallet, so I’m assuming that means that all the ADA is working for me….
Wouldn’t mind a confirmation…!
Hey Mike, yes anything new you add to the wallet is auto staked with the same pool. When you first stake you delegate your full wallet so any new funds added including rewards are auto restaked for you
Is it impertinent to ask … How saturated is your ADA staking pool ?
My pool is just under 20M stake so still a long way from saturation. Current Saturation level is 64M but that is coming down to 32M the end of March
Hi Paul, love your channel on YouTube just deliciated to your pool , is there anything i need to do once it is staked, i recall some wallets required to check and make sure it was still assigned, i staked through Daedalus’
Second question what if i wanted to just un stake at some point, and pull this out, i seen a video how to re allocate but not to just put it in your wallet.
Third do the rewards automatically stake in your pool, that would be great is so
Thanks Jason, No once your staked that it all done until you want to move the funds out which you can do at any point as there is no lock on Cardano staking. Yes rewards and anything newly added to the wallet will be auto staked for you
Hi, I entered PAUL in the Daedalus staking pool and it looks like 2 pools with PAUL popped up? Is there a second pool? I’m confused why I’m seeing 2 when I searched PAUL in the staking pools today. One is showing 50% saturation with 100K ADA pledge. The other is showing 6% saturation and 20K ADA pledge. Thank you for your feedback.
Thanks Jarrett, yes they are both mine. The pledge on pool 2 will be up to 100k in the next few days too. Either pool is good for now, when the saturation point changes in Q3 to 32M pool 1 will be on that limit so for the long term pool 2 is better
Hi paul, Im new to your website and the whole ada staking game but your video’s learned me alot. I just staked my ada into your second pool. But i have a question, Iknow that the total amount of ada in my wallet is staked, wich i fucking love, but i also heard you say something about not “cashing out your rewards because it will work for you and you dont have to pay the cash out fee” can you explain that a bit more to me? or could you just confirm that i understand correctly that even if you dont claim the rewards they still count towards the amount of ada staked?
would love hearing from you.
Thanks for joining the pool Stef I appreciate that. To be able to move rewards out of your wallet you need to claim them which is a transaction on the network (roughly 0.17ADA). Generally I don’t claim them until I want to move them as they are auto staked for you anyway so no point paying a fee unless you have to.
Question: Will I need to monitor my stakes frequently or I just do it and forget about it?
Reason I’m asking is because due to nature of my offshore job I have limited access to internet when I’m at work..
Hey Faris, If you are in my pool then joining my newsletter and if you ever need to do anything you will get an email from me. In general you don’t need to do anything unless the pool becomes saturated – https://www.cardanowithpaul.com/newsletter/
Hey Paul, I am trying to select a pool and get the most return out of my investment. Would love to stake on your pool, however noticing on https://adapools.org/ that your pool’s stats show a 30d return of 1.37% and lifetime of 3.397%. Can you help me understand why this is lower than the 5% we’ve been hearing? How do pools with a lifetime return of 6 or 7% and 0% fees stay sustainable? Thank you!
I think them stats are for pool 2 which is only a few epochs old but them stats are still counting 6 epochs so they add in a few 0 returns in the stat. Some epochs could hit 7% and that’s why you see big rewards at times but in general most pools will average out at 5% or a bit above and that’s where my pools should average out too as they are producing blocks and rewards in every epoch now. Thanks for checking then out
Hey, Paul – Pool 1 or Pool 2?
Both pools should pay the same rewards over the long term. Currently trying to build pool 2 up to the same 30m as pool 1. Thanks
Just changed my delegation to Paul1☘️
Thanks for all the time you devote to Cardano…
Thanks for being a part of the pool Steve appreciate it. We also have a telegram chat group if you want to join – https://www.cardanowithpaul.com/TelegramChat
If voyager is paying higher interest what benefit do I get from staking .
If your happy with Voyager that perfect. Main advantage is you control your ADA if you stake it whereas on an exchange they control the funds. When you stake yourself you can also vote in project catalyst
Thank you. I have 4105 ADA I am thinking of bringing over. Still learning about staking as I know basically nothing
Hi Paul,I was thinking of switching from Paul 1 to Paul 2 stake what do you think ?
Right now both are still good and will give you the same in terms of rewards. Thanks for supporting the pool
Hi, I wanted to ask- I already staked my Ada but I have more Ada to stake. If I were to put it in the same pool will it combine as one or will it count as two?
Yes anything new added to a wallet that is already staking will be auto staked for you
I have been staking with you now Paul2 for over a month but still I am getting less reward per epoch what is being estimated when I try to select any other pool. This time I got much less than previous one?
Thanks for joining the pool Owais, PAUL2 has a few unlucky epochs which happens all pools at different times but in general all pools will balance out to around 5% over the year. You are probably seeing lower potential as well as every epoch the staking rewards come down slightly due to the way the protocol works, it is currently around 5% APY. As the number of transactions on chain grows that should all stabalise and even potentially rise if the volume is big enough
i followed your instruction for staking and in about 2 epochs my staking wil be delegated to you. Keep up the good work.
Hi Paul, I cant seem to find any you tube video`s showing me how to withdraw rewards on Yoroi wallet, I am staking to a pool and have received some rewards already even though i have no intention of withdrawing them it would be nice to know how to do it. Love your videos on this site is great and very informative. looking forward to your reply.
Sorry Howard I missed this. In case you didn’t find it on the main dashboard under total rewards you should see a withdraw button. When you click that you will be able to withdraw your rewards, it will also give you to the option de-register your stake key or keep staking
Hi Paul, thanks for your reply. I am using the Yoroi wallet. So it’s as simple as clicking on the withdraw button and your rewards should go straight into your main pot.
Yep when you click withdraw you get the options then. Even without withdrawing your rewards are auto compounded for you anyway
Hi Paul,I have been using Yoroi wallet for a while now to store my ADA and stake but today when I tried to acces my wallet I have a page pop up saying. Failed to access storage. Yoroi needs to access to storage ( “ indexed DB”) to properly manage wallets. Is this something new or some scam.
Looking forward to your reply
Hello Paul. I’ve recently re-delegated to your CardanowithPaul2 Pool in hopes of being part of the Sundae Coin Rewards starting on Jan. 20th. However I’m noticing that I won’t receive the rewards from your pool until Feb 4th (after 2 complete epochs) .. Will still be receiving Sundae Rewards?
Sorry I missed this, thanks for joining. The ISO started on Jan 25th but they use a different type of snapshot than the ADA rewards one so once you are in by Jan 25th you will earn for all 5 epochs
Hi Paul, how could I know which pool is less saturated? I would like to be able to delegate for time without worrying about checking the saturation. What happens if it is saturated and I keep delegating?
Hey Alex, currently both pools are well below saturation and I dont see us hitting the cap any time soon. PAUL is the least saturated too. If you are staking in a saturated pool then you receive slightly less rewards but if we ever get close to it I’ll be shouting in my videos and social profiles. thanks