Frequently asked questions
How do I get ADA?
ADA can be purchased on major crypto exchanges such as Binance, Huobi or HitBTC. Most popular trading pairs as of now are ADA/BTC and ADA/USDT.
Are there any fees?
What is staking?
Staking is a method of securing the network and equivalent of hashing power in PoW. The more stake a pool controls, the more often it is elected to produce a block thus it provides more rewards for it's delegators.
How are rewards distributed?
The rewards are distributed automatically, according to your stake, after every epoch (5 days).
I am already staking my funds in another pool, how do I switch?
Is there any risk?
No. While staking, none of your funds leave your wallet and they are always available for you to withdraw/send. By delegating to a pool you simply let the network know that you contribute to said pool's staking power which increases blocks assignment.
How much can I earn?
The official numbers state between 5.5 to 6% APR. This is the return on ADA tokens plus potential increase in value.
Can I delegate to more than 1 pool at a time?
Yes, you have to create a separate wallet with desired delegation amount. The delegation system stakes whole amount of a wallet of your choice.
How do I choose a stake pool?
The best way to choose a stake pool is to look at the ranking in Daedalus wallet. It provides good insight on overall pool's performance, including blocks assigned to blocks produced ratio, total delegated stake and pledge amount.
Do I need to pay taxes on my staking rewards?
It will depend on the regulations in your country/state but generally earnings are taxable. SWIM is a UK based pool and so you only have to pay tax on coins that you exchange into fiat or other cryptocurrencies. More information available HERE