Hi, I’m in the process of delegating my ADA to a stake pool.
After I’ve done it, how can I sell my ADA?
I suppose I need to take them out from the pool, then transfer them to some exchange and sell them, is it correct?
I think Coinbase works just fine, but I’m not sure if the escrow or other protections are in place.
the process to sell your ADA is.
from your wallet you need to send them on Crypto Exchanger, who provides you CArdano wallet Address.
then you hold your ADA on your account on this Exchanger, and then you can sell them.
Thomas.
Operator for TTS17 Pool
PS
if you hold them on Yoroi, you need to withdraw your Rewards to your wallet, before you send them on Exchanger
Yes you can send your ADA from your wallet to exchange if you want to sell it. In Cardano, what you stake is your wallet. Is not like in Polkadot, where you stake certain amount of ADA. And to unstake takes about 28 days.
So in Cardano, if you have 100 ADA and stake your wallet, you can send 20 ADA out of the wallet to exchange if you want to sell. No time limit.
When u delegate … ur ADA will not leave the wallet… u will have full control of ur funds at any hour! When u will want to not delegate anymore don’t forget to deregister also the key to get back 2 ADA which u paid for delegation process … and remember u will still receive rewards for 2 epochs after u undelegated/deregistered the wallet
I hope is the last one , can I add more ADA to my wallet after I already joined a stake pool? As you said, my entire wallet is on the pool, does it auto update in the pool?
Exactly… u are delegating the wallet not the funds from the wallet so if ADA will be added or removed from the wallet… the delegation balance will be autoupdated at the next snapshot…
Between the snapshots u can do everything u want with the funds… but the funds should be in the wallet when the snapshot is performed
Also be aware that the rewards are delayed by 2 epochs
When you say I’m delegating the wallet to the pool, if I need to restore the wallet from seeds, will it make any difference?
I don’t think so, considering that it’s an offline process, it doesn’t have something to do with the blockchain itself.
Do not rush into deregistering your staking keys when stopping delegation. You are still due to receive rewards for 2 epochs. These will go bust if you do not possess those keys.
Thanks a lot.
For my record, it seems that it’s convenient, if not mandatory, to have different wallets if you use different pools, is that right?
So, one wallet for each pool.
I’m not planning to have many pools as it seems less handy, but it’s good to know.
I just want to say what a fantastic job the ADA community do in answering people’s questions. I purchased some Elrond I tried to ask some questions about staking. “look it up” was one of the answers. There were some who tried but the information I got back was not completely accurate and it just felt nothing like the support the Cardano community have.
what do you want to do with the keys?
If u undelegate or more precisely deregister your wallet, you will need to create another wallet and move the funds in order to redelegate again
check your wallet address on cardanoscan.io and u will see the staking key for your address