Cardano Staking FAQ

Everything you need to know about staking Cardano inside of your Exodus wallet.


In this Article:


General Cardano Questions

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


Cardano staking Questions

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 partner 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?

If you choose to stake your Cardano, you can expect to earn around 5.3% per year of the staked amount. However, this amount can change with time but you can find the latest yield here: Cardano Staking Rewards

What is the minimum amount I need to start staking?

The required minimum is only 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 initially need to wait 20 days to be approved. This will only happen the first time you decide to start staking your Cardano.

After this 20 day period you will start to earn rewards every 5 days.

This means that the first time you start to stake your ADA, you will need to wait 20 days for approval and then another 5 days for the first cycle to complete. So you will get your first reward 25 days after clicking Start Staking and then every 5 days after this.

You will be able to see how long you have been staking within the Cardano wallet.

Please note: Your first rewards are paid with a 25 day delay. You will receive rewards every 5 day cycle from this point. However your reward for each 5 day cycle will be calculated for your ADA balance 25 days ago from the current cycle.

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!


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

Staking in Exodus is super easy. Please follow the steps below:

1
First, open the Rewards app inside of Exodus.

2
Next, simply find Cardano then click on Get Reward.

3
Finally, click on the Stake ADA.

Unstake

If you change your mind, you can unstake your ADA anytime. In order to do that, simply follow the steps below:

1
First, open your Cardano wallet inside of Exodus, then click the three dots in the top right corner, and finally click on Earn Rewards.

2
Next, simply find the Unstake Cardano button and click on it.

Mobile

Stake

Staking in Exodus is super easy. Please follow the steps below:

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

If you change your mind, you can unstake your ADA anytime. In order to do that, simply follow the steps below:

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 Unstake ADA.

How do I claim my Cardano rewards inside of Exodus?

Desktop

Claiming your ADA rewards on desktop is super easy. Please follow the steps below:

1
First, open the Rewards app inside of Exodus.

2
Next, simply find Cardano then click on Overview.

3
Finally, click on the Claim ADA Rewards.

Please note: Claiming rewards will incur a network fee.

Mobile

Claiming your ADA rewards on mobile is super easy. Please follow the steps below:

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.

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