How to Stake Your Cardano To A Stake Pool

by | Nov 9, 2020 | Cardano Staking | 55 comments

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

How to Stake Your Cardano To A Stake Pool

The videos below show how to stake / delegate your ADA.

I will add more to this post over the next few days as this site is filled out with content

How to stake Cardano using the Daedulas Wallet

The Daedulas wallet is the offcial Cardano ADA wallet and it is a desktop wallet. As I wrte this post it doesn’t support hardware wallets but that functionality is coming soon so I will update this post and add a video showing it when it is done.

The video below shows how to use the Daedulus wallet to stake your ADA


How to stake Cardano using the Yoroi Wallet and a Ledger Nano hardware wallet

The video below goes through all the wallets for holding Cardano and shows how to stake in Daedalus and Yoroi


How to Stake Cardano on Adalite using a Ledger Nan

55 Comments

  1. Darragh Corrigan

    Hi Paul just came across your site. Good to see a fellow Irish lad in cardona. Is Daedalus a safe option to store Ada or would you recommend ledger?

    Have been staking on binance as of late but since the uplift now taking it off an exchange and moving it to a wallet. Be honest now is your stake pool worth a decent stake 😉

    Reply
    • Paul

      Thanks Darragh I’m finding more and more of us every day..

      Yes Daedalus is a safe place to store your coins once you keep your seed phrase safe. I am a fan of using a ledger (hardware wallet) whenever possible but if you don’t have one Daedalus is a solid wallet too.

      Of course my pool is the best its run by an Irish man 🙂 Been honest over the long run most pools will generate between 5% – 6% APY. Some will be slightly above that and some below. We crossed 4M in stake overnight and growing fast now so I am expecting us to go on a good run of rewards from now on.

      Any questions let me know. If your on Telegram our group is growing and there is a decent few Irish people in there too – https://www.cardanowithpaul.com/Telegram

      Reply
    • TJ

      Hey Paul, so I staked my ADA to your pool. I entered three days before epoch 250 finished, I was expecting I’d get rewards but there was none. Was it because I didn’t complete the full epoch? Hope to hear from you.

      Reply
      • Paul

        Thanks for joining. With Cardano staking your first pay-out takes 15 – 20 days and then after that it is every 5 days. I go through the timeline and the reasons here if your interested – https://youtu.be/umiv-YMmnaU

        Reply
  2. Rob

    Hi Paul,

    Pretty new to the whole staking process. Couldn’t find a better way to message you than on here… So I think I’m delegated to your stake pool on Daedalus, and I think I noticed there was a new block produced in the last day or 2, but I’m not noticing any rewards on my end. Am I missing something? Sorry I am not on Telegram.

    Reply
    • Paul

      Hey Rob, Payouts happen at the end of the epoch which is 5 days. The current epoch 241 will end tonight and rewards from epoch 240 will be paid out to delegators. The rewards then from epoch 241 are paid out at the end of epoch 242. When you start staking first there is an initial wait of 15-20 days to get your first payout and then after that it should be every 5 days, this video explains why – https://youtu.be/umiv-YMmnaU. You can also get me on paul@cardanowithpaul.com if you want any time. Thanks for supporting my pool

      Reply
  3. Ilya

    Hey Paul! Thanks for such a helpful website! What ROA are you offering on your pool?

    Reply
    • Paul

      Thanks Ilya, my pool has seen a big growth in stake lately which has pushed us to over 6.3M now which is great as that will give us blocks and rewards in every epoch. We should average out between 5% – 6% over the year which is the average for most pools that are producing blocks. Any questions just let me know here or on paul@cardanowithpaul.com

      Reply
    • Lydia Bebbington

      Hi! Dia dhuit 😊 what is the minimum amount of ADA needed to stake in your pool?

      Reply
      • Paul

        fáilte. There is no minimum for staking.
        go raibh maith agat as féachaint ar mo chuid físeáin

        Reply
  4. Jason

    Hi Paul, thank you for the great videos! My Daedalus wallet is syncing the block chain and once that is done I’ll stake with your pool. A couple questions that I have not found the answer too. When your wallet is staked/delegated to a pool can you spend/send your ADA from your wallet? Or is your wallet locked from sending until you remove it from the pool? When happens if your wallet receives ADA while staked/delegated to a pool? How do you stop staked/delegated to a pool? When you claim your rewards who are you claiming from? The pool owner? What if the pool owner goes offline before you claim? Hope that’s not too many questions 🙂

    Reply
    • Paul

      Hey Jason,

      Yes you can still move your funds at any point. Any new ADA added will be auto staked to the same pool. To stop you can just move your funds out at any time. You are just claiming themfrom a rewards address in your own wallet. The pool owner never has access to your funds or rewards. Think that all 🙂

      Reply
  5. Leandro

    Hello Paul. How many epochs do I have to delegate my Adas to see a reward?

    Reply
  6. Eric

    Hi Paul, Can you explain the fees in more detail please?

    Reply
  7. Radek Vojta

    Hi, I have question about amount I want to stake with. Is it good idea to stake for example with 400 ADA or is it useless and I should do more ? Thank you and good luck!

    Reply
    • Paul

      If you are planning on staking for the long term then you can still make profit. You would earn about 20 ADA a year

      Reply
  8. Rok

    Hi, Paul. I have been trying to redelegate from AdaLite Pool 9 to your Stake Pool for a few weeks already without success. I am using Mozilla Browser, Yoroi extension and Ledger Nano S. Everything is up to date but I get a very generic error which doesn’t help. When I should be confirming the transaction, I get “Something unexpected happened. Please retry.” I checked your videos and I didn’t find an answer to this problem. Any idea?

    Reply
    • Paul

      Is it a windows error message? When they pop up if you ignore them and wait for the prompt on your ledger it works. You could install Daedalus on your laptop and connect your ledger there. You can also use the adalite website since you are using a ledger. I show how to do it on the adalite site in this video as I got an error in Yoroi which I also show in this video – https://www.youtube.com/watch?v=48MngePqUQo

      If you are doing it through adalite and want to use my pool you will need the ID – 86a19d5418cd07294af7d71386cf14a84e0478fbfde5b89fe4d98a58

      Let me know how it goes

      Reply
      • Rok

        When I click on DELEGATE button (video https://youtu.be/48MngePqUQo?t=308), I don’t get redirected to emurgo.github.io. Browser tries the redirect but I come back to the same pop-up where I started and the message “Something unexpected happened. Please retry.” is added in red letters. So the error was different than in your video. It looks like it didn’t even contact my Ledger. I tried disabling all add-ons and still not OK. Gave up on Yoroi for staking.

        Then I tried with AdaLite and it went smoothly, just like in your video. Thanks for assistance and keep up the good work!

        Reply
  9. Mark Smith

    Hi Paul

    I’m trying to delegate my ADA to your pool using Yoroi and ledger nano. I follow the methd on you video but when I click on ‘delegate’ the message ‘something unexpected happened, please retry’. I think I might be missing something but can’t work out what: any ideas?
    Thanks, buddy,

    Mark

    Reply
    • Paul

      Is it a windows error message? When they pop up if you ignore them and wait for the prompt on your ledger it works. Sometimes Yoroi gets overloaded too. You could install Daedalus on your laptop and connect your ledger there or you can also use the https://adalite.io/ website since you are using a ledger. I show how to do it on the adalite site in this video as I got an error in Yoroi which I also show in this video – https://www.youtube.com/watch?v=48MngePqUQo

      If you are doing it through adalite and want to use my pool you will need the ID – 86a19d5418cd07294af7d71386cf14a84e0478fbfde5b89fe4d98a58

      Let me know how it goes

      Reply
      • Mark Smith

        Done, thanks for your help, you very lovely man.

        Reply
  10. John Tomas

    Hello Paul,

    Really appreciate all the info you put out .You have answered a lot of my questions with all your content. I am seriously thinking about staking my ADA.
    A question I have for you. When do you or how do you see your pool reaching an average 5% return?

    John

    Reply
    • Paul

      Our last epoch was 6% and this one is set to be over 6% so a few more like this will pull the average right up

      Reply
      • John Tomas

        Hey Paul,

        Thanks for your quick reply! 🙂
        While I was waiting for your answer , I had a good look at all the effort you put into this. The videos, website and incredible amount of information. I staked my 364K ADA with you this evening.
        Keep up the great work!

        Thanks! 🙂

        Reply
  11. Tasi

    Hi Paul,
    Firstly thanks for the great content and support. You’re doing Gods work!
    Today I delegated my ADA to your Pool. Do I qualify for rewards in the current EPOCH which ends tomorrow?
    Thanks again for your support.
    Tasi

    Reply
    • Paul

      Thanks Tasi. No your first earning epoch will be 250 which starts feb 24th and then your first payout will be March 6th. After that it will be every 5 days. I go through the timeline and why it works that way here – https://youtu.be/umiv-YMmnaU

      Reply
  12. Danny

    Hi Paul! I’m very new to investing. Just entered your stake pool 2 days ago. I only have 304 shares of ADA in there. Can I expect any rewards from that little ADA

    Reply
    • Paul

      Hey Danny, thanks for joining the pool. You will get about 1 ADA a month so over the long term they all add up

      Reply
      • Danny

        Thank you! I will keep adding to it.

        Reply
  13. Charles

    Hi Paul, ive got about 300 ADA to invest in pool, is it a good start to your pool? Or should i consider to stake more for any returns. Please tell what do you think and what amount is the best for start. Cheers.

    Reply
  14. New staker

    HI Paul, I just followed your tutorial and staked with your pool (its above the minimum amount) .
    On my dashboard and under upcoming rewards, it lists 4 epochs but all of them have a red triangle with an exclamation point beside it saying “Staking Key isn’t registered so you won’t get rewards” how do I fix that? the whole point of staking is to get the rewards lol, thankyou!

    Reply
    • Paul

      If you refresh it normally gets rid of the ! marks as they are just while it is updating

      Reply
      • S

        great thankyou, do you know to ‘log out’ of my wallet on yoroi I feel weird that its always logged in while I am using chrome to surf online…..if we can not log out, can I delete the wallet off yoroi without impacting the staking ? thankyou

        Reply
        • Paul

          There is no logout. You can remove the wallet but you will need your seed phrase to add it back in again, deleting it wont impact the staking it will still continue

          Reply
  15. Alexea

    Hi Paul,
    Is there a transaction fee if I am going to delegate/stake my ADA to your pool? If there is, do you have any idea how much it is? and is this a one time fee? or if ever I want to undelegate ada from your pool or any pool is there a transaction fee again for this? Sorry for all my questions and I do appreciate your feedback.. Thank you and more power ,

    Reply
    • Paul

      When you stake you pay a transaction fee (about 0.17 ADA) to sign your stake key and you pay a 2 ADA deposit which is returned when you stop staking. You can move your coins at any time you want and again its just a normal transaction fee

      Reply
  16. Paul

    Hey, Paul! I’ve been struggling with something that I’m hoping you can help me with. I want to start staking, but I’m having a problem. So I got the Yoroi wallet that’s connected with my Ledger Nano X. But the thing is, I got it in July, before the Shelley update, and I’ve kept the Byron wallet this whole time. I can’t find any helpful videos on how to upgrade the wallet to the Shelley version while still keeping the Yoroi account connected with the Ledger. How am I supposed to do this?
    If anything, am I able to create a new Cardano wallet with my same Ledger, whether on Yoroi or Exodus perhaps?
    Thanks in advance!

    Reply
    • Paul

      You can create a second wallet with your ledger and create it as a shelley wallet. Then you will send the funds from your bryon wallet to the shelley one and you will be able to stake then. Any questions on it let me know

      Reply
  17. Derek Frisby

    Hi Paul,

    Thanks for all the work. Going to delegate to your pool – is it the Paul or Paul 2 pool?

    Also wondering – I’m using the Yoroi wallet. I set it up on the chrome extension. Any idea how I can have it on my phone also? If I set it up on the phone as “restore wallet” maybe but wondering will that kill the browser extension?

    le meas!

    Reply
    • Paul

      Thanks Derek, if you search for Paul you will see 2 options and the new one is Cardano with Paul 2. Yes you can use the restore option on your phone and it won’t pact the browser at all. Thanks for joining the pool

      Reply
      • Derek

        Thanks a million Paul and thanks for all the content, loving it – especially as it’s Irish! …..any advice on tax implications in Ireland? Or videos maybe? As far as I can see it’s CGT only?

        Reply
        • Paul

          Thanks Derek, no I haven’t done anything on tax as its not fully clear and its not something I want to go on the record for telling people what to do due to it been uncertain. If you are getting into bigger numbers its always worth talking to a tax pro

          Reply
  18. Daniel Houck

    Hi Paul, I have been liking the Yoroi Wallet so far. What exchange would you recommend to someone in the USA with low rates for purchasing more ADA? I used crypto.com and they are decent, but if there is a better one I’d use it. Also, how long do you expect ADA to be allowed to be staked? Thank you in advance, cheers!

    Reply
    • Paul

      Hey Daniel, I like Kraken as well. You will always be allowed to stake as that is part of how the network works. The future rewards are the part were not fully sure of yet as they will be dependant on transactions on the network

      Reply
  19. robin

    hi paul,trying to stake my cardano with you but yoroi keeps telling me something unexpected happened,please retry,i am using a ledger nano ,my browser is firefox,i also have sophos web protection,do you have any ideas?

    Reply
    • robin

      no worries,ianswered my own question,i think it was an issue with firefox.

      Reply
  20. Michal

    Hello Paul I am absolutly new on this market i need help, expect about staking can you contact me via mail please. I want to know your opinion about this pool HRBR 178 position. is it worth to staking with small stack ? I want it for long term i will buy som crypto every month. Thank you and have nice day

    Reply
    • Paul

      If your stack is under 300 then you will need to stake for a few months to make it worth while. Basically any pool should average out with rewards to 5% – 5.5% over the year. That is what I would expect my own pool to hit too

      Reply
  21. Phillip Martin

    Hi Paul

    Great videos really well put together and enjoy the updates, very useful info. Always good to see another Irish man doing well of course 😉

    Trying to stake in your new stake pool 2 but I’m having problems using Yoroi.
    I can’t seem to enter anything in the amount field although it shows the amount there its greyed out likes its inactive, have you seen this happen before?

    Reply
    • Paul

      Thanks Phillip, Wit Cardano staking you dont need to put in an amount as when you delegate it stakes the full wallet. This means that anything new added is auto staked including rewards and as there is no lock with Cardano you can still move funds in and out of the wallet at any time. We also have a telegram chat if you want to join – https://www.cardanowithpaul.com/TelegramChat

      Reply

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Stake Pool Details

Ticker: PAUL

Pool ID: 86a19d5418cd07294af7d71386cf14a84e0478fbfde5b89fe4d98a58

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