How to stake Cardano (ADA)

Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. The current staking annual yield on Cardano is around 3-5%.

Here is the guide how to stake your Cardano with Coinpayu:

Step 1 Install Yoroi Wallet

Click on this link to download and install the browser extension wallet for Chrome

Step 2 Create or import a wallet

a). After installing Yoroi Wallet, click on its logo on the extension bar to open up the wallet on your browser.

b). Follow the Yoroi extension Wallet prompts to create or import a Yoroi wallet, then transfer enough ADA to the wallet. Click on “Receive”, and your address for receiving will be shown here:

Step 3 Delegate

a). Click on “Delegation List” to start delegating, all the pools are listed here on this page.

b). Find Coinpayu node by:

Paste the address below in the search box

a6e5b851154535a57563313c45e1f7936113db705a43f6f5863f66a2

Click on “DELEGATE” after Coinpayu pool appears.

c). Type your password, and click on "Delegate”to continue.

Notice: The fees which cost 2 ADA will only be charged once by the chain when you are staking through Yoroi for the first time. The rest part of the fee is the transaction fee.

d). When you see this page, it means the delegation has been accomplished. Click on “DASHBOARD PAGE” to get back to the main page of the wallet.

Step 4 Confirm

a). Check the specific information of your delegation.

Your delegation status will be shown here below “Your Summary”

You can withdraw your rewards by clicking “WITHDRAW”

You may observe upcoming rewards in the area below the red square

b). There is no need to remove delegation as nothing is locked outside of the original 2 ADA deposit for the stake address. It means that you can transfer out your tokens anytime. However, if you do wish to stop staking completely for all funds in the wallet, Go to the “Delegation Dashboard” first and then click on “WITHDRAW”.

c). Approve to unstake

Click “I understand” to prove you’ve fully acknowledged the information.

Click on “DEREGISTER” to finish. This completely de-registers your staking address and transfers your rewards to your wallet at the same time. You only do this when you no longer want to stake it from this wallet.

d). Due to the rules of Cardano, you can only stake to one stake pool at a time, you can switch to another stake pool or you can unstake at any time. So please be extremely cautious when you stake.

If you have any questions during the staking process, please feel free to comment.