Frequently Asked Questions
Delegation is the process by which ada holders delegate the stake associated with their ADA to a stake pool. It allows ADA holders that do not have the skills or desire to run a node to participate in the network and be rewarded in proportion to the amount of stake delegated.
Install a cardano wallet like Daedalus (for desktop) or Yoroi (for mobile), Create a Shelley wallet, then Click on “Stake pools” in Daedalus or “Delegate” in Yoroi. Search for MEA, choose your MEAPOOL and click “Delegate”.
If you delegated for the first time, it will take 15 – 20 days to get your first rewards. When a user delegates in epoch X, the delegation will be recorded at the beginning of the next epoch X+1 and get active in epoch X+2. In epoch X+3 the rewards of the previous epoch X+2 are calculated. Those rewards are distributed at the beginning of epoch X+4.
If you delegate for the first time, you will have to pay 2 ADA for key deposit. This is required to register your stake address. If you choose to unstake later you will get the key deposit back.
The second fee of ~0.2 ADA is for transaction costs. You will have to pay this amount for the first time and every time you decide to move to a different pool.
Basically there is no minimum amount of ADA required to start delegating but you need to have at least the amount to pay for key deposit and transaction costs (check “Do I have to pay for staking?”). Some wallets require you to have at least 5 or 10 ADA.
Yes, your funds are safe as your ADA stays in your wallet. You keep full control while they are staked and you can send / withdraw them at anytime (no locking).