Frequently Asked Questions
Is staking safe?
Staking is perfectly safe because You delegate your ADA to our Pool from your own wallet. You can’t lose your coins because they never leave your wallet, You are always in control of your coins! we never have any access to your coins!
I changed my mind, can I switch stake pools?
You remain in total control over your funds at all time. At any given moment you can switch stake pools or stop staking altogether.
Is there a minimum amount of ADA I need for staking?
There is no minimum you need to benefit from Black Star Stake Pool. You can start earning with any amount of ADA.
The Rewards Cycle
You Delegate your ADA to a Pool and within 2 Epochs which is a min. of 6 days your coins will then become actively staked, there after every 5 days end you will receive rewards for staking your ADA to a Pool
How Do I Buy ADA?
You can obtain Cardano’s native asset ADA through online reputable exchanges such as Binance, Kracken, and many more all of which require KYC (Know Your Customer) Verification. Which very from exchange to exchange.
Can I delegate to many different stake pools?
Currently Daedalus wallet only supports staking to one pool. By choosing a professional, high quality pool like Black Star Stake Pool you assure maximal rate of interest from staking.
Can I use my ADA while staking?
ADA stored on a delegated account can still be spent normally. Your funds are never frozen and you can always use them without any problem.
General Terms you will come across when deciding to participate delegate your ADA
- Block: A record of transactions similar to a page in a ledger also how rewards are received from minting a block successfully.
- Delegation: The process of electing a pool with your ADA to secure the network.
- Epoch: Last 5 Days
- Rewards: Incentives paid to delegators for participating in staking
- Staking: When you assign your ADA in support of a pool to secure the network.
- Pledge: This the amount of ADA a Pool Operator Locks into the pool and indication of dedication.
- Stake Pool: A Secure node People pool ADA to aid in processing transactions, secure and decentralize the network & creates blocks
- K parameter is what helps to decide the saturation value of pools based on the total supply of ADA
- Adding ADA if adding to ADA staked wallet it will automatically be registered to your stake address you send it to. Any new address will receive rewards for 3 epochs prior to rewards distribution.