I’m currently invested in ada. I have my ada staked through the Yoroi wallet. My question :
I understand every 5 days you receive let’s say 5% rewards for staking your Cardano. Is this 5% of what your Cardano is currently worth in fiat currency (usd) or will it be just 5% of the number of Ada you hold in that wallet? I’m confused and need help understanding it .
Tou will receive ~5% per year ( in ADA coins)
For example if u stacked 5000 ADA then each epoch u should receive
[(5000/100)*5]/72= ~3,5 ADA per epoch
and this ~3.5 ada will automatically add to the total ada to continue receiving rewards every 5 days
Exactly, the rewards will be automatically added to the delegation amount…
Here is a good reward calculator. Note, that there is a significant difference on how much reward you can expect depending on the pool’s “cost per block”. The network currently requires pools to configure a minimum of 340 ADA fix for the first block in every epoch (i.e. 5 days). This leads to totally unreasonable cost to the delegator of 6 x 340 x 2.20 => $4488 p.m. You may want to find a pool that does not just pocket these excessive charges, but instead gives back to the delegator on top of their network rewards. A good pool, runs reliably/securely, produces blocks on a regular basis and does something meaningful with pool rewards that aren’t actually needed to run the pool.
Are there some that you can recommend?
Sure, take a look at this
Check Alliances - Mission-Driven Pools | Cardano Staking and Alliances - xSPO Alliance | Cardano Staking
Many great pools with mission and smaller pools to help decentralize the network