I have my stake keys and pool certificate, and I believe everything else necessary for staking… Do I just deposit ADA to my payment.addr?
Please if you could explain this process or send me a link to a guide on how to begin the staking process, it would be greatly appreciated!
Thanks!
Do u want to stake or do u want to run a pool? It’s not clear for me
I can do both right? Sorry for being so green. I send ADA to the stake.addr and does it start earning rewards immediately?
Hmm do u have a cli wallet?
I have keys for payment.addr and stake.addr… yes
Hi!
If you want to start a pool, then you need to register it:
https://docs.cardano.org/projects/cardano-node/en/latest/stake-pool-operations/register_stakepool.html
if you want to delegate to a pool:
And if you want to combine this then you need to register a pool and provide your ADA as pledge
Blockquote
Stop for a second. Do NOT send your ADA any where. If you are new to all this lets cover the basics first.
You seem to be confusing two very different topics here. 1st is delegating to a Stake Pool to earn rewards, and 2nd is starting and running a server that hosts a Stake Pool which you will own, operate, pay for and keep secure.
1st one is easy to do. Get and official Cardano wallet, such as Daedalus. You can get it from here :https://daedaluswallet.io/en/download/
All you have to do is download the software, create a wallet, put some ADA in your wallet and click delegate button. You choose a stake pool to delegate and you are done! You DO NOT send any ADA to anyone! Your ADA stays in your delegated wallet and you can use it as you like. Every epoch (which is 5 days) snapshot is taken of your delegated wallet, and amount you have at that time will earn you returns for that epoch. To start delegating it will cost you 2ADA plus transaction fee.
2nd one is harder. You need to set up a server or purchase server hosting service. You then need to set up that server to host Cardano node. You will have to upload all the Cardano stake pool files, configure them and register with Cardano network. This will cost 500 ADA. After you set your server you can pledge some of your ADA to the pool, then you can advertise and promote your Stake Pool to get others to stake their ADA to it. More ADA you get, higher chance you will get rewards. If your stake pool is not well funded you may get no rewards or very few. Even if you don’t get the rewards you need to be ready to keep paying the cost of running this server and putting in time to keep it secure and running.
So, before we can give you a proper advice lets go back to question that @Alexd1985 asked you:
And yes, you can choose both.
If your are actually running a Cardano-Cli Shelly and you configured your server, registered your pool, paid 500 ADA and started a relay node and block producing node and they are syncing with mainnet, then you can just stake from which ever official wallet your ADA is in. No need to do it from Cli.
You can check that your server node is syncing with:
cardano-cli shelly query tip --mainnet – \name of your bc
(The last number in this response should be counting upwards )
If you are a developer maybe some documentation beside GitHub can assist you. Check here: https://docs.cardano.org/en/latest/
Thanks for your reply Neo_Spank. I have a block producer and a relay node. The BP has a registered cert. You said I can check that my node is syncing with: cardano-cli query tip --mainnet …(what is the parameter you mentioned “\name of your bc”?
When using the Daedalus wallet, how is my pool found to delegate to?
Question 1: Yes I want to stake to get rewards.
Question 2: I am running a BP (cert registered) and a relay.
