Help me understand PoS / Staking Pools

English 🇬🇧🇺🇸 General Discussions
#1

Hi Cardano Family,

I’m a simple man, and in return I’d like to have a simple answer (if possible)

Let’s pretend that I’m a proud owner of 12000 ADA’s and the PoS / Staking Pools are now live up and running.

If i choose to deligate my stake to a pool, does the coins only stay in “escrow” mode and never leave my wallet? AND do i have to pay some sort of fee if i decide to stake all of my coins? Or can i only benefit from this, etc receiving coins?

Sorry for bad english, I’m Swedish!
Bless all you!

#2

  1. You don’t send your coins anywhere. “Staking” is actually means creating a special certificate with your signature that you then give to the pool and it gives them the right to behave on your behalf. You coins stay in your wallet the whole time, you just can’t spend them.

  2. You pay the pool-fee from your profits. So pool receive the profit that you would receive if you would run a full-node yourself. Then pool takes a percentage for its services and gives the rest to you. Different pools may and most probably will propose different conditions and different fees. But you don’t pay anything upfront from your existing coins - you just receive profits.

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#3

Thank you @vantuz-subhuman You have saved me from so much headache!
I wish you all success in life!
Blessings!