From the beginning of Cardano’s Shelley era, your ADA coins could be delegated to a stake pool to earn new ADA as staking rewards. This tutorial is to show ADA holders how to delegate their ADA to a stake pool
Update with Ledger Live
1 - Connect your Ledger Nano, enter PIN and open Ledger Live.
2 - Choose Manager and upgrade your firmware to [version 1.6 or greater for Ledger Nano S] or [version 1.2.4 or greater for Ledger Nano X].
3 - Update the Cardano ADA app to version 2.0.3 or greater.
Staking with Ledger Live
1 - Go to adalite.io
2 - Choose “Continue to ADALite”
3 - Choose “Hardware Wallet”
4 - Choose “Unlock with Ledger”
5 - You will be required to confirm exporting the public key 2 times on your Ledger wallet.
6 - Click “Convert to stakable” in order to convert your balance to a Shelley Wallet in case you had ADA before Shelley. Then choose “Confirm Transaction” and confirm transaction on your Ledger Nano.
7 - Choose a stake pool in the Delegate Section. You will need the ID of the pool you want to delegate to.
It would be our pleasure to have your delegation.
Our pool ticker is SND and here is our pool ID: 66b6d414db2f4ef941ef11a91c6a7d461d4dbf65f3e7baec950d87f2
8 - Check your delegation again and choose “Delegate”. Finally confirm your transaction on your Ledger Nano.
Tips and stricks
- Staked funds still remain in your wallet. Staking ADA does not mean you send it away.
- You can transfer your ADA anytime you want during staking time.
- You will be taken a 2 ADA deposit for delegating. This will be returned to you when you decide to undelegate your stake.
- You don’t have to leave your wallets open to stake ADA.
- Rewards multiply with the power of compounding
- Additional ADA will be added up to your current staking and is automatically delegated.
- You just need 10 ADA to start a delegation.