Looks like you already own some Cardano (ADA) coins and you’re exploring ways to earn passive income on your Cardano with staking. If that’s the storyline, you’re in the right place! 🙂
In today’s tutorial, I’m going explain what a Cardano staking pool is and I’ll show you step-by-step how to choose a good validator from the Cardano Staking Pool.
First, let’s understand what a Cardano staking pool is.
A staking pool on the Cardano blockchain is simply a group of individuals who pool their resources together in order to increase their chances of being selected to create a new block on the blockchain and earn rewards.
When users “delegate” their Cardano (ADA) coins to a staking pool, they are essentially allowing the pool operators to use their ADA coins (stake) to create new blocks and earn rewards on their behalf.
The rewards are then distributed among all of the pool’s delegators proportional to the amount of stake they have delegated.
Cardano staking pools:
Staking is one of the few strategies for earning rewards or passive income in crypto. By staking your ADA coins on the Cardano network, you are contributing to the overall health and security of the network.
Now that we have a good understanding of what a Cardano Staking Pool is, let’s explore how to choose a good staking pool or validator to stake your ADA coin with.
To choose a good Cardano staking pools, we are going to use these tools some tools to help us evaluate and compare each pool operator’s offerings.
Tools & Resources for Choosing A Cardano Staking Pool:
► Ada Pools Website: https://www.adapools.org
► Official Cardano Blockchain Explorer: https://cardanoscan.io
► Cardano Staking Rewards Calculator: https://cardano.org/calculator/
Adapools.org provides information, charts and tools to users who are interested in staking Cardano (ADA) coins on the Cardano blockchain.
It allows users to browse and compare different staking pools and validators, and provides detailed information about each pool or validator, such as their total stake, historical performance, and fee structure.
Adapools.org provides tools and resources to help users make informed decisions when choosing a pool or validator. Adapools.org is a great resource for anyone interested in staking on the Cardano blockchain.
When choosing a staking pool to delegate to, there are several factors to consider.
On Adapools.org, click on any pool operator to read more about it’s operation. Check if they have a valid website and social media presence. Check it’s historical performance, including ROA (return on asset)
On Adapools.org, you’ll notice color bars in the saturation column. Red or orange means the pools is almost full. It’s recommended to avoid such pools. Usually a pool with 70+% will display red color bar in the saturation column.
As you scroll further to pages 4 or 5 and beyond, you’ll see pools with yellow and green color bars. Pools with saturation under 50% are preferable. (usually displayed in green bar.
It’s important to do your own research and due diligence before delegating your stake to any staking pool.
The Cardano Blockchain Explorer is a powerful tool for exploring and analyzing the Cardano blockchain. It allows users to view detailed information about the blockchain’s blocks, transactions, and addresses, including real-time updates and historical data.
It’s gives you a snapshot of when the next ADA rewards will be distributed. (Current Epoch Ends In)
Cardano Staking Rewards Calculator is a tool that helps you estimate your expected staking returns on the Cardano blockchain.
It takes into account your staked ADA amount, the network’s total ADA staked, and the current staking rate to calculate an estimate of the user’s returns over time.
The tool is easy to use and helps you make informed decisions about staking your ADA.
I hope this tutorial was helpful in getting you started with how to choose a good validator from the Cardano Staking Pools. Happy staking!
Hey there! I’m Blooming Umoren, your money coach, and I’m thrilled to see you here. If you found my tutorial helpful, don’t forget to drop a comment below. Your feedback means the world to me and I promise to read every single one.
For those who are new to my website, welcome! I’m passionate about coaching and creating educational content on crypto and stock investing. Be sure to check out my YouTube channel and Facebook page for more valuable insights on investing. Let’s stay connected and learn together. Talk to you soon!
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Hello, I’m Blooming Umoren: your money coach. I enjoy teaching & speaking about crypto and stock investing as pillars for creating and building long term multi-generational wealth.
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