Delegating is a simple process that allows you to earn rewards on the ADA that you current own (Approx. 5% PA minimum). That being said, "How do I delegate my ADA?" is one of the most common questions we see being asked within the community.
In an effort to answer this question and make things as simple as possible for our community members, the following is a basic guide starting from setting up your hardware wallet through to delegating your ADA funds. For a more detailed walkthrough with step by step instructions, please feel free to refer to our video presentation also on this page.
Create your digital wallet
You will need a secure place to store your crypto currency. We would suggest Daedalus for desktop or Yoroi for mobile use. Be sure to keep your multi word passphrase safe and never store this on any online capable digital devices.
Register with an online exchange
Register with an online exchange service to enable the purchase of Cardano ADA. Some exchanges do not sell ADA direct and users must buy bitcoin first then exchange this for ADA. We would suggest exchange services such as Binance or Kraken.
Add ADA funds
Once registered on an exchange, go ahead and add some ADA funds to your account. We would suggest that if this is your first time purchasing cryptocurrency, then start of with small values so that you can familiarize yourself with the process.
Send ADA to your digital wallet
Make sure that once you have purchased ADA on an online exchange that you send it over to your digital wallet. Doing so ensures you have full ownership and allows you to have full control over your investment.
Delegate your ADA with a stakepool
Delegating your ADA to a stakepool costs you nothing and is risk free. Delegating can help mission driven stakepools achieve targets to allow charitable donations to be made. Be sure to choose a stakepool that is active and is not oversaturated.
One major benefit of delegating is being able to receive rewards. Rewards are received every 5 days (1 Epoch) and are payed out in ADA. You can expect to earn approx. 5% minimum PA on the amount of ADA delegated.
BraveHeartStakePool Guidance Manual
We have produced a video presentation which is aimed to assist individuals who are new to the Cardano community. It outlays the basic fundamentals of Cardano in addition to a more detailed step by step set of instructions to help you get started buying, delegating and receiving rewards through the delegation process.