Posted 3 months ago | by Catoshi Nakamoto
By choosing to delegate your ADA to Bitboy Crypto’s BPOOL, you are supporting both our organization and the Cardano network, thank you!
According to Cardano.org, the more that is staked and delegated to a stake pool (up to a certain point), the more likely it is to make the next block – and the rewards are shared between everyone who delegated their stake to that stake pool. Therefore we want to reach that threshold ourselves and have as many Bitsquad members staked to help us mine blocks on the Cardano network. It’s a win, win. We receive a reward and you also receive a reward based on the weight of your stake to our node pool with the ticker BPOOL.
So how do you stake?
You can stake your Cardano by using either Yoroi or Daedalus, at the moment there are no other wallets for Cardano available. It’s very important to make sure you download the real wallets and not copycat frauds which will steal all your funds. We have linked both Yoroi and Daedalus for you just click on their names above. Daedalus is available for all OSes on desktop computers. While, Yoroi is similar to Metamask, and is an extension for Chrome, Edge, and Firefox. A mobile app version of Yoroi is also available for Android and iOS. But again, be careful of imposter scam apps, as you will lose all of your funds no questions asked, with no way to retrieve them.
Alright, Bitsquad, this tutorial will assume that you already have a Cardano wallet set up and ready to be used. Once your ADA is safely in your wallet of choice, you are finally ready to delegate to our Cardano pool with the ticker, BPOOL.
IMPORTANT: If you send your cardano to the pool address, it may not be recoverable. YOU have to delegate through Daedalus or Yoroi wallets.
First, we are going to go through how to do this process in Yoroi wallet, then we will explain how to delegate through Daedalus.
From the Yoroi wallet app or extension, click on the words “Delegate List” it’s the menu across the top of your app. You will then be able to browse through all the pools that are listed and search for a pool by its ID or ticker name. As previously stated our pool is called, “BPOOL.” However, it’s important to note that there are two BPOOLs one is ours the other is another party. So make sure that when you search that the pool operator in the bio is: “BitboyCrypto.com.”
- Ticker: BPOOL
In the search box, paste in the Ticker you wish to delegate to in our case you will be searching for BPOOL. Once you identify that you are in fact on the right pool, you can then click “Delegate”. You will then be greeted with a screen to confirm your delegation and asked to type in your sending password which you set up when creating your wallet originally. Please note: there is a transaction fee for delegating to a pool.
From the side menu on the left in Daedalus, choose “Delegation Center,” (it’s the second icon down from the top.)
On the next delegation screen, click on the option “Stake pools,” from the top menu in the center of your screen. From there you will be given a bunch of staking pools populating your wallet window. You will also be given the option to search for pools, in this search box type “BPOOL.”
You will be given two different BPOOLs, one is from us, the other is not. Make sure when you click on BPOOL, you make note of the operator URL in the bio, it should say, “BitboyCrypto.com.”
Please note, that each time you delegate ADA to a pool, there is a small fee to redelegate to another pool.
That’s it, it takes upwards to 5 days to successfully delegate in between Cardano epochs and start seeing rewards accumulating in your wallet. But you can rest assured that you have successfully delegated to our BPOOL if you followed the above steps. The power of ADA is now in your hands!
Cheers, Bitboy Crypto team.