I would like to take my investment of ADA a little further and am considering staking. Does anyone already do it? What is the daily time investment? Is it worth it, or would I be better off investing with fiat money? I am totally NEW to this! I have a tech literate individual whom I live with who can interpret some jargon for me, and ultimately he is who I am trying to convince, but if it can be explained in layman’s terms that would be best.
First of all welcome aboard! Glade to hear u decided to stake!
Around 70% ADA from Circulating supply are stacked at this moment, and keep increasing!
By delegating you will received rewards each epoch if the pool creates blocks (1 epoch=5 days)
It will provide u around 5% per year (long term)
Delegation is the process by which ada holders delegate the stake associated with their ada to a stake pool. It allows ada holders that do not have the skills or desire to run a node to participate in the network and be rewarded in proportion to the amount of stake delegated.
Delegating your stake to a stake pool is 100% secure.
- You should never transfer ADA to a stake pool. If a stake pool asks you to send them funds in a transaction, please DO NOT PROCEED and report that to us.
- The delegation mechanism allows you to have full control over your funds. You delegate ONLY your right to participate in the protocol producing blocks. Thus, when you delegate to a stake pool, you only allow them to produce blocks on your behalf, but you NEVER give up control of your funds.
- When you delegate, your funds are NEVER locked, you retain full spending power over your funds at any time.
(Perhaps u will decide to delegate to my pool!
Great project ongoing!)
Thanks so much. Now second question is, if one were to run a pool, what is the return on that? Is it a percentage? Is there an average out there that can give us an idea if time spent vs. earnings is reasonable?
You can use Cardano PoolTool to browse the rewards account of pool operators. Considering each epoch costs 340 , it appears to me that operators have to work really hard at the they earn.
Here’s a random example I pulled up - Cardano PoolTool - The most comprehensive staking statistics for Cardano on the web.