If you hold ADA, you are on your way to becoming truly "financially independent". Want your investment to work for you?
Staking is a passive activity where you delegate ( vote ) for a stake pool and earn a percentage of rewards generated by the pool
HOW TO STAKE WITH A
1. Buy your ADA
3. Send your ADA to the wallet
4. Look for a "Delegate" tab
5. Search for your favourite pool
6. Press delegate
Shidan Gouran, founder of Canadian merchant bank Gulf Pearl, says there aren't any true drawbacks to staking for investors who are already holding Ada for the long term.
"If you possess stakeable cryptocurrency, I do recommend staking it. You will be earning a passive income for doing not much more than clicking on a button, and the yields are typically higher than traditional investments.
Gouran says investors worried about how much Cardano to stake shouldn't be concerned considering there is no downside to participation.
"They should be staking all of it. Depending on how you stake Cardano, you can earn anywhere from over 1.9% to over 7%, with 1.9% requiring very little investment and a simple click of a button," Gouran says.