I know it refers to holding ADA for a period of time, without selling.
Does ADA have to be held in a certain place to qualify as staking?
For example, if I hold ADA in the Crypto dot com wallet, does that count as CARDANO staking?
1 Like
yes and no, in regards to holding and not selling. and yes, it does need to be held in. a certain place to qualify (for a period of time).
in order to delegate your ADA, it currently needs to be in a cold wallet that supports delegating. at the moment as far as i can tell there are only two wallets that do (Daedalus and Yoroi)
delegating doesnât just mean having your ada in the wallet, you have to explicitly go to the delegation centre, select a stake pool then select the option to delegate to that pool of your choice. once youâve done that, and an epoch has begun, technically at this point you can move, sell and do whatever you want with your ADA without it affecting the rewards that youâre owed - for delegating when the epoch begun - come the end of the epoch. and these rewards will go into the same wallet.
now come the next epoch, (if youâd sold or something after the previous epoch had begun, or maybe the opposite, youâd bought more) youâre only going to get the amount of rewards proportional to how much was in the wallet at the start of this new epoch.
for reference you can think of epochs and slots, like pages and lines. each epoch has a number of slots contained within it, the same way a page has a number of lines contained within it, or a paragraph contains sentences. and each epoch is approximately ~ 5 days long.
at some point in the future, yes, that might be the case BUT for the moment - no, not it does not.
how staking-as-a-service might apply for Ada held on exchanges has as of now not yet been disclosed. but it might be possible in the near future as itâs been/being worked on. in the mean time, please never leave your funds on exchanges, itâs not good practice. move them to a cold 
wallet which you control, meaning one which you have the keys to.
thereâs an important distinction to make here however, crypto.com offer two services which could very easily be conflate/confused. they have an app and a wallet (recently released).
while they both are technically apps and both have wallets, the distinction is one, what they refer to as âAppâ, is what is what is known as a hot 
wallet (youâre not in control of your keys, and as a consequence youâre not in control of your funds = not good 
). while the other, what they call âwalletâ is what is know as a cold wallet (youâre in control of your keys, and as a consequence youâre in control of your funds = very good 
).
2 Likes
| misteraxyz
29 May |
- | - |
Emanatepresence:
I know it refers to holding ADA for a period of time, without selling.
Does ADA have to be held in a certain place to qualify as staking?
thereâs an important distinction to make here however, crypto.com offer two services which could very easily be conflate/confused. they have an app and a wallet (recently released).
I have ADA in the crypto dot com App, and installed their wallet. Also installed Daedalus.
To date, Iâve not been able to move ADA off the exchange App.
C.c support responds promptly to my questions, and they wrote that their team is working diligently to enable moving ADA. I did receive the VISA debit card.
They are having a 50% off sale on ADA, June 9.
It seems the best I can do is trust they will enabling moving ADA to the cold wallet soon.
How are others able to move ADA? I did not find exchanges that sell it besides c.c and Binance.
Visit Topic or reply to this email to respond.
To unsubscribe from these emails, click here.
Sorry, thatâs not the correct terminology. Hot means, basically, online, while cold is offline, as regards keys. Daedalus is a hot wallet. Generally speaking, only paper and hardware wallets are cold.
1 Like
thank you @RobJF for taking the time out to contribute by writing out lengthy responses to folk who are new. additionally for your great contribution in the form of a three sentence nit pick of a retort. 
great (example setting) tone! well done youâŚ
@Emanatepresence itâs helpful to think of it as a spectrum of security, hot means less secure (greater attack surfaces and attack vectors) while cold is more secure (lesser attack surfaces and attack vectors).
which then means by definition the polarity of this would have possession of keys be the most important primary issue, on-line or off-line state doesnât in any dimension supersede that - despite that being a prevailing binary (most likely from bitcoins flawed medium of exchange).
majority of wallets/funds (in currencies which are a viable medium of exchange, not where fees can be up to FOUR times (4x) the value of the transaction itself) go on and off-line, on and off-chain very frequently - but keys seldom, if ever, change hands.
an off-line wallet that you had access to the spending password but not access to the keys - is not in any dimension - more secure (defined as sovereign control of funds) than a wallet (on a device that has the capability to be on-line, which is becoming ever more increasingly so) to which you have access to the keys. itâs common sense really ÂŻ_(ă)_/ÂŻ
honestly speaking, my trust of exchanges is not in much supply. especially crypto . com as iâve not had positive experiences with them, and iâm not the only one - they harassed Michael aka boxmining for being critical of them.
you say âto dateâ, iâm curious how long has that been? it wouldnât surprise me if they weâre waiting for shelly so that their extortionate fee that theyâll charge you to withdraw your ADA will be even greater proportionally.
wonât be surprised if thereâs a catch in the form of delayed withdrawals (like youâve already experienced) or theyâll compensate the discount with extortionate fees.
on closer investigation, it appears additionally that their CRO token is tied to the purchase⌠hmmâŚ
personally iâve found binance to be more reliable as far as exchanges go. the moment the trade happens, i withdraw it and it appears in my daedalus wallet within minutes, maybe max an hour.
hereâs a list on coinmarketcap which shows all the exchanges that list ADA. it includes other helpful elements like 24hr volume, liquidity, pairing, fee type etc
i think worst case scenario, provided youâll have managed to have withdrawn and have those ADA on/in daedalus before august 18th (when staking rewards are reportedly going live on main-net) you should be fine.
even if you donât by then, itâs not the end o the world, just means missing out on some staking rewards till the when you/theyâll be able to rectify the issue.
honestly, if i were in your position, iâd take advantage of the ~15% uptick the ADA price got on yesterdays news - to possibly sell it - then buy it on binance - again, if i were in your position. only you are the best person to evaluate and make such a decision.
I donât consider correcting the definitions of hot and cold wallets to be nit picking. I didnât comment further because I saw no need to do so. Youâre welcome.