How to Change Your ADA Stake Pool

by | Nov 10, 2020 | Cardano Staking | 48 comments

If you Want To Support My Content Choose Stake Pool PAUL When Delegating. Thank You

How to Change Your ADA Stake Pool

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.

  1. The pool you are in is saturated
  2. You want to support another stake pool operator who is giving back to the community
  3. 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

48 Comments

  1. john cully

    Hi Paul
    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…

    Reply
    • Paul

      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 paul@cardanowithpaul.com or join the telegram group (https://t.me/CardanoWithPaul) and send me a DM if you ahve any questions.

      Reply
    • Paul

      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

      Reply
      • MK

        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?

        Reply
        • Paul

          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.

          Reply
    • Erick Hunter ll

      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…

      Reply
      • Paul

        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

        Reply
        • Erick Hunter ll

          okay thanks also i am subscribed to your channel great content my guy!!

          Reply
    • Raj

      Hello Paul,

      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.

      Reply
      • Paul

        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

        Reply
  2. Alex

    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!

    Reply
    • Paul

      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

      Reply
  3. Frank B.

    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.

    Reply
    • Paul

      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

      Reply
  4. Erick Hunter ll

    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 

    Reply
    • Paul

      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

      Reply
      • Erick Hunter ll

        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

        Reply
        • Paul

          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 paul@cardanowithpaul.com

          Reply
          • Erick Hunter ll

            i sent you the screenshot through our email conversation

          • Paul

            I checked my emails but didn’t see anything. You will need to send it as a separate email to paul@cardanowithpaul.com rather than replying to this comment thread as this thread wont accept attachments

          • Erick Hunter ll

            okay sent it to right address pau@lcardanowithpaul.com sorry again

          • Erick Hunter ll

            yoroi wallet is what I am using

  5. Mike

    Hi Paul…

    Nice site..

    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?

    Reply
    • Mike

      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…!

      Reply
      • Paul

        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

        Reply
  6. Tony

    Hi Paul,

    Is it impertinent to ask … How saturated is your ADA staking pool ?

    Reply
    • Paul

      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

      Reply
  7. Jason Yuke

    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

    Thank you

    Reply
    • Paul

      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

      Reply
      • Jarrett

        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.

        Reply
        • Paul

          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

          Reply
  8. stef de gram

    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.
    stef

    Reply
    • Paul

      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.

      Reply
  9. Faris

    Hii Paul,

    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..

    Cheers !

    Reply
    • Paul

      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/

      Reply
  10. Keith

    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!

    Reply
    • Paul

      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

      Reply
  11. Jacob Aimers

    Hey, Paul – Pool 1 or Pool 2?

    Reply
    • Paul

      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

      Reply
  12. Steve Most

    Just changed my delegation to Paul1☘️
    Thanks for all the time you devote to Cardano…
    Go ADA

    Reply
  13. Chris

    If voyager is paying higher interest what benefit do I get from staking .

    Reply
    • Paul

      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

      Reply
      • Christopher Richard

        Thank you. I have 4105 ADA I am thinking of bringing over. Still learning about staking as I know basically nothing

        Reply
  14. Paul J Rangel

    Hi Paul,I was thinking of switching from Paul 1 to Paul 2 stake what do you think ?

    Reply
    • Paul

      Right now both are still good and will give you the same in terms of rewards. Thanks for supporting the pool

      Reply
  15. Shajida Begum

    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?

    Reply
    • Paul

      Yes anything new added to a wallet that is already staking will be auto staked for you

      Reply

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