Staking ADA with non-custodial wallet

Staking & Delegation Stake Delegation
1

Hi,
I would like to start staking ADA with non-custodial wallet. I read that daedalus wallet allows this. However, I have some questions:

  1. What is it the best wallet for staking on Cardano ecosystem?
  2. Which staking pool do you suggest to use?
  3. Is there anything different to know about Cardano compared to other PoS blockchains regarding staking?
  4. According to staking rewards, Cardano has 3.43% of rewards and -0.15% of adjusted rewards. These number are lower than those offered by Binance.

Thank you

2

Hi,

  • u can stack from all cardano wallets available daedalus (full node and the HW requirments are higher than light wallets), yoroi, adalite.io, flint, eternl, etc
    Ada are stored on blockchain not on wallet so u can access then with the original seed words from any other cardano wallets (just use restore option)

  • I can’t suggest u a pool for stake, depends if u wish to support a project (there are so many awesome projects)

  • what u must know for staking on cardano is that the funds are never locked and to earn rewards ur funds should be inside the delegated wallet when the snapshot occure at the end of the epoch (once/5 days);

https://cardano.org/stake-pool-delegation/

  • regarding the % of rewards it can variate from pool to pool on short period but on long period (usually 1 year) should be the same for all pools

Happy delegation and don’t share never ever the seed words, no one (trust person) will ever ask u to share it.

Cheers,

2 Likes
3

Hi,
thank you for your fast reply.

  • Which wallet do you recommend (open source and audited)?

  • Why are the staking rewards lower on any pool compared to Binance?

4

hi,

Which wallet do you recommend (open source and audited)?

I am using yoroi for stacking, its the EMURGO official light wallet

Why are the staking rewards lower on any pool compared to Binance?

They run pools on cardano and they earn rewards as me or as any other cardano Pool operator… I am sure there is something tricky … perhaps limited amount for stake or perhaps the funds are locked for all that period, etc… for instant rewards

look at few terms from binance, the last one is…

When will I start earning?

The first distribution of Rewards to your Spot wallet will be on the third day after you Subscribe, between 0:00 UTC to 08:00 UTC.

How are the daily rewards calculated?

Rewards=your deposited assets*APR/365

1.APR is subject to change, and may change on a daily basis.

What happens if I redeem my Locked Products early?

You can redeem your assets anytime. But if you do this before the locked period ends, you’ll lose all rewards you have accrued. Any rewards recorded in your Spot wallet will be deducted from the asset you deposited, when you withdraw them.

Cheers,

5

Thank you.
If you are a long-term holder, the lock period is not a problem. Even the 30-day period offers a better reward than directly staking ADA with a non-custodial wallet. So probably Binance uses its resources to give incentive to users and that is not good for decentralization.

6

Greeting!
I am new to staking… had delegate cca 3600 ada to stake pool and i am getting reward after 4 epoch 0,67 ada ( didnt get any reward for first 3 epoch) and now after each epoch i am getting 0,67 ada. If i am calculate right should getting that per day not per epoch.

Some details about the stake pool:

Saturation 57.99%

57.99% saturation

Live Stake 40.88M₳

Active Stake 39.74M₳

Pledge 100.00k₳

Active Pledge 100.01k₳

Margin fee 3%

Fixed fee 340₳

Recent ROA 4.18%

Lifetime ROA 4.29%

Blocks in epoch 4

Estimated Blocks in Whole Epoch 34.2

Blocks Lifetime 3590

Lifetime Luck 99%

Created 18.5.2021

Delegators 3,792

Pledge leverage 408.8

Can you please provide some information regarding following matter…

7

Hello,

  1. The rewards are delayed 2 epochs, sharing a picture to understand the process better

image

  1. The total rewards for an year is ~4-4,1%

3600x0,041 = 147,6 ADA per year (rewards)
147,6/73 epochs = ~2,02 ADA per epoch

PS: this is the average… the rewards can fluctuate from epoch to epoch (one epoch u can earn 1ADA and the next one more than 2,02ADA)

Cheers,

1 Like
8

Thank you! Now i understand how staking work😅

1 Like
9

Hey! As you wanted to know what is it the best wallet for staking on Cardano ecosystem, I figured that now you may want to know what are the best staking pools on Cardano?
There are a few like Chef stake pool or Alamo stake pool. If you need anything else, please feel free to ask.