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Staking Cardano FAQs | Exodus Cardano Staking Rewards Support | Staking ADA

Staking Cardano is a great way to earn ADA staking rewards as a form of passive income for holding Cardano. You can view it as earning interest on your crypto holdings. With some assets, staking means you agree to lock up your tokens for a certain period of time, during which they are unspendable. However, this is not the case with Cardano. Much like Tezos, you can spend your Cardano whenever you choose.

By staking your ADA, you actively support the Cardano network by allocating resources to it and contribute to the stability of the network. In return for your support, you earn ADA tokens as a reward.

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In this article:

• General
  • What is the Shelley HardFork?
  • Why do I have two Cardano addresses?
  • How do I switch between Legacy and Shelley Addresses?
• Staking
  • What is Cardano staking and how can I benefit from it?
  • Can I choose the amount I want to stake and is my balance spendable while it's staked?
  • Which node will I be delegating my funds to?
  • How much can I earn from staking my ADA?
  • What is the minimum amount I need to start staking?
  • Does Exodus charge a fee to stake my ADA?
  • When will I start earning rewards?
  • How do I check the current epoch progress?
  • How does unstaking work?
  • Do I need to claim my rewards?
  • Is staking Cardano safe?
• How do I stake/unstake my Cardano inside of Exodus?
  • Desktop
  • Mobile
• How do I claim my Cardano rewards inside of Exodus?
  • Desktop
  • Mobile

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General Cardano Questions

Please check out our Blog for more information: Cardano Roadmap in Plain English

This section goes over what you need to know about the Cardano Shelley HardFork and what this means for you!

What is the Shelley HardFork?

The Cardano network upgraded from a centralized network to a distributed one through the Shelley protocol on June 29, 2020. This upgrade allows for more and more nodes to shift towards being run by the Cardano community. Once network participants run the majority of nodes, Cardano will be more decentralized and enjoy greater security and robustness as a result.

Shelley will also introduce a delegation and incentives scheme, and a reward system to drive community adoption. As a proof-of-stake network, users stake their ADA to participate in the network.

To read more about the Shelley upgrade and what it entails, please refer to the Cardano website here.

Why do I have two Cardano addresses?

With the introduction of the Shelley HardFork, Cardano now allows you to stake some of your ADA and earn rewards on it!

You will now see 2 Cardano addresses:

Legacy Byron Address	Starts with: Ae2td...
New Shelley Address	Starts with: addr1...

However, to stake any of your ADA, you will need to use the new Shelley Cardano address format. Exodus will automatically ask you if you want to move your ADA from your current legacy address to the new Shelley address format.

Desktop	Mobile

Once you have some ADA on your Cardano Shelley address, you can start staking!

Please note: Moving your balance to the new Shelley address will incur a network fee.

How do I switch between Legacy and Shelley Addresses?

By default, when you click/tap to receive some ADA into your Cardano wallet, Exodus will first show you your Shelley address.

Whilst we encourage you to keep your ADA on the new Shelley address, the Legacy Cardano address will still work. If you want to switch to your Legacy Cardano address, all you need to do is:

1

Open your Cardano wallet inside of Exodus on your mobile or desktop device.

2

Click/tap Receive .

3

Click/tap the arrow next to the QR code to switch between addresses.

Desktop	Mobile

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Cardano staking Questions

Please check out our Blog for more information: How to Stake Cardano in Seconds

What is Cardano staking and how can I benefit from it?

Staking Cardano is a great way to earn passive ADA income. You can view it as earning interest on your crypto holdings. With some assets, staking means you agree to lock up your tokens for a certain period of time, during which they are unspendable. However, this is not the case with Cardano. Much like Tezos, you can spend your Cardano whenever you choose.

By staking your ADA, you actively support the Cardano network by allocating resources to it and contribute to the stability of the network. In return for your support, you earn ADA tokens as a reward.

Please note: In order to stake your Cardano, you need to have ADA on the new Shelley address format.

Can I choose the amount I want to stake and is my balance spendable while it's staked?

When you stake your ADA, you are actually staking your Cardano address. This means you can't choose how much to delegate to the pool. It is all of your Cardano balance or nothing since you are staking your address to the pool. You can still perform normal transactions whilst your ADA is staked. When it is time to receive your rewards, a snapshot will be taken and your current balance at that time will be used to calculate your reward.

Which node will I be delegating my funds to?

When you stake your ADA inside of Exodus, you will be supporting our staking API provider Everstake.

If you would like to keep up with how Everstake will vote, you can see their latest news by checking out their blog.

How much can I earn from staking my ADA?

To find out more about what Annual Percentage Yield (APY) is and how to view the current APY for ADA, please check out this article: What is APY.

You can also find the latest yield here: Cardano Staking Rewards

What is the minimum amount I need to start staking?

The required minimum is only 5.5 ADA!

Does Exodus charge a fee to stake my ADA?

There are only two fees involved with staking your Cardano. One fee is a transaction fee cost. The other fee you will pay is a deposit. The deposit fee is 2 ADA and is required to register your address to start staking. If you choose to unstake your Cardano you will get the 2 ADA deposit back.

When will I start earning rewards?

When you decide to start staking your Cardano, you will need to wait 20 days to be approved and then another 5 days (one epoch) for the first cycle to complete in order to earn rewards.

This means you should start earning your rewards 25 days after clicking Start Staking and then every 5 days after that. If you make subsequent deposits, these are staked automatically and you will need to wait for the full 25 day cycle to complete before earning rewards for those deposits. Rewards will be paid out two epochs (10 days) after you've earned them.

You will be able to see the period of time you have been staking your funds for within the Exodus Cardano wallet:

Please note: Your rewards are paid with a 25-day delay. You will earn rewards every 5 days (1 epoch) from that point. However, your reward for each 5-day cycle will be calculated for your ADA balance 25 days ago from the current cycle. Your rewards are paid out 2 epochs after earning them. This means that if you've earned rewards in epoch 239, then you will receive the payout of these rewards in epoch 241.

How does unstaking work?

When you decide to unstake your Cardano, once you send the transaction, unstaking is instant. If you choose to unstake your Cardano you will get your 2 ADA deposit back.

How do I check the current epoch progress?

If you would like to see the amount of time remaining in the epoch, you can visit Cardano Explorer and look at the value in Current Epoch Ends In

Do I need to claim my rewards?

If you are just staking your Cardano, no!

Your unclaimed Cardano rewards still count towards your staked balance. So you do not need to claim your current rewards to earn rewards on top of it, the unclaimed Cardano is already counted towards your interest-earning balance.

This means that you only need to claim your Cardano rewards when you are ready to send or exchange your Cardano.

Of course, this is completely up to you and you can claim your rewards whenever you have earned at least 1 ADA!

Is staking Cardano safe?

Staking your ADA tokens is done in a non-custodial way in Exodus. That means that it is as safe as simply holding them in your wallet. You keep full control over your tokens while they are staked and you're even free to use your funds and move them around while they are staked.

So instead of letting them sit idly in your wallet, you might as well put them to good use and let them earn rewards for you!

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How do I stake/unstake my Cardano inside of Exodus?

Please note: In order to stake your Cardano, you need to have ADA on the new Shelley address format.

Desktop

Stake

1

Open up your Exodus wallet and head over to the Rewards app.

2

Navigate to where it says Cardano and then click on Overview .

3

Then, click on Stake ADA .

Unstake

1

Open up your Exodus wallet and head over to the Rewards app.

2

Navigate to where it says Cardano and then click on Overview .

3

Please note: To unstake your Cardano, please first ensure you have claimed all your available rewards.

Then, click on Unstake ADA .

Mobile

Stake

1

First, open your Cardano wallet inside of Exodus on your mobile, then tap on the Earn Rewards icon in the top right corner to open the Cardano rewards section.

2

Tap on Stake ADA .

Unstake

1

First, open your Cardano wallet inside of Exodus on your mobile, then tap on the Earn Rewards icon in the top right corner to open the Cardano rewards section.

2

Please note: To unstake your Cardano, please first ensure you have claimed all your available rewards.

Tap on Unstake ADA .

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How do I claim my Cardano rewards inside of Exodus?

Desktop

1

Open up your Exodus wallet and head over to the Rewards app.

2

Navigate to where it says Cardano and then click on Get Reward .

3

Then, click on Claim ADA Rewards .

Please note: Claiming rewards will incur a network fee.

Mobile

1

First, open your Cardano wallet inside of Exodus on your mobile, then tap on the Earn Rewards icon in the top right corner to open the Cardano rewards section.

2

Tap on Claim Reward .

Please note: Claiming rewards will incur a network fee.

How Can I Get My Deposit Back From Point Loma Nazarene University?

Source: https://support.exodus.com/article/1498-cardano-staking-faq

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