I am using Daedalus.
I have created a wallet, got some ADA in there.
Staked this with one of the pools.
Now I see rewards from this on the staking screen in Daedalus.
How do I receive these rewards into my primary Daedalus wallet?
I am using Daedalus.
If you are using Daedalus, you dont have to “claim” your rewards.
If you want to spend them, simply make a transaction and your rewards will be used if needed
I learned that before, but still: Does that mean that the Yoroi “Withdraw” transaction is not really necessary and wastes my fees? Why do they not implement the same mechanism there?
withdrawing rewards is or should be a different transaction so … using yoroi or daedalus I believe u will still pay the fee for withdrawing them
Still confused. The new wallet only shows in the stake tab of the app, not in my mail screen of the list of wallets.
I am worried that I might not be able to recover the wallet if I move to a different device.
How do I just do a receive transaction from the stake wallet to another one?
The function for withdrawal of rewards is there because at some point if you want to use those rewards, I.e, spend them, then you’ll need to withdraw them from the rewards “wallet” to a “normal wallet” so you can spend them. Staking rewards going into a special kind of address so you can’t use that address to spend from which is why that function exists.
But then Daedalus would also need to have that option, but it does not have that.
I had the impression that you could just use the rewards in a “normal” transaction and Yoroi’s “Withdraw” is just such a “normal” transaction that happens to go from one of your addresses to one of your addresses.
FWIW: This is the only Yoroi withdraw I did up to now: Transaction | Cardano Explorer Looks like every other transaction except that the stake key is in the input. The output could as well have been someone else’s address saving one transaction fee for the withdrawal.
There is no separate reward wallet. The stake key is part of your wallet just as all your other addresses are. If you restore the wallet somewhere else, the stake key and the rewards will be there just as the funds in your other addresses.
That’s why I paraphrased the word “wallet”. It is the same wallet and integral to the wallet. The rewards travel with your keys so no matter where you restore your keys your rewards travel with them.
With that said, different implementations do things differently. In this case, I like how Daedalus does this. You don’t care where the funds come from, it will grab stake address rewards or ADA in a normal address under the wallet. Nor is this a detail a normal user probably wants to, or cares to know. It sounds like Yoroi distinguishes between these and you’d be correct in that this would result in more fees vs. Daedalus.
Apologies, I may have misread your original question/intent. Yoroir in fact, does not need to implement it this way unless they have some other reason within their own product on why this is the case. That wouldn’t be a Cardano protocol reason though as you have already eloquently pointed out.
On the other hand, Yoroi does have a feature that Daedalus does not and that is the ability to “undelegate” and get your 2 ADA delegation deposit back that was used for the delegation certificate.
Thanks for all the comments. I get it now.
The solution is different for Daedalus and Yoroi.
On Daedalus, I see received ADA from the staking are added into the overall on the Summary screen.
But it is confusing as nowhere does it say that the stake rewards are added.
It is not listed as transactions.
I will add this as a feature request to Daedalus.
I suppose this is the reasoning behind Yoroi treating rewards differently from Daedalus, thank you for pointing this difference out!
This discussion is helpful but there is still an issue about the reward funds that I find confusing. If I want to close a wallet and move all the funds out, Daedalus gives a warning that a minimum of 10 ADA is needed in the wallet to spend staking rewards. This leads to two questions:
- does the total shown in Daedalus include the staking rewards, my impression is yes
- if I’m sending all of the funds, isn’t this all of the staking rewards also?
I have the dame question regarding the 10 ADA warning mentioned above. Can anyone answer this?
Never seen it. Maybe, because I never emptied wallet, while using Daedalus. Could you show a screenshot of the warning?
Yes, the rewards are in the total balance and if you send out everything that should include the rewards.
The protocol itself does not have a 10 ADA minimum, anywhere, as far as I know.
- If you move everything somewhere else, you will still continue to get (maybe considerable) rewards for three more epochs. In order to withdraw them, you will need some ADA left in the wallet for the withdrawing transaction, but 2 ADA should really be enough for minimum transaction volume plus fees.
- Your stake key is still registered. In order to get the 2 ADA deposit back that you paid when delegating for the very first time, you will have to deregister the stake key. This will stop all pending rewards, so it should only be done after waiting those three epochs for them. That operation will also need around 2 ADA in the wallet for input and fees (can be the same as for withdrawal of the last rewards). Some wallet apps – Eternl, Yoroi – can even do it in the same transaction, while others – Typhon – require you to do the withdraw first and only then the deregister.
- But Daedalus does not even allow the deregistering operation. They had it: Ho do I UNdelegate? - #15 by Alexd1985 But then they removed it and it never came back in one and a half years. So, they perhaps want you to never get back the deposit? Only solution I know (but that should work flawlessly): Import your wallet to another, better wallet app – Eternl, Typhon, … – and do it there.
Do you know if you get staking rewards on ADA in the rewards address, or there is a way to transfer the rewards in the wallet address?
Unwithdrawn rewards are part of your stake. They will get rewards and you don’t have to withdraw for them to compound.
Thanks. It seems to me that the more I learn about Cardano the more I like it.