How to stake your wallet with 1FMLY?

When you have purchased ADAs via an exchange, they often end up in an exchange’s wallet. Sometimes it is possible to stake with the exchange. (Kraken, Binance, Etoro) But staking is also a personal choice. Mostly the stakepool operators do have personal mission, wich could fit your mission. (support decentralization, support charity, sharing NFT’s etc.) Exchanges are always in for max profit to themselves, and have for example an ugly bunch of stakepools raised, with low pledge, to gain as much profit as possible, undermining decentralization of the Cardano network.

If you choose to support a single stakepool, you can transfer your ADA’s to a, most common wallet, Daedalus or a lightweight Yoroi wallet. In Yoroi there’s no need to sync with the blockchain. It’s just an extension in your webbrowser. Works great for quick access to your wallet!

In the wallet you will find the option to delegate.

Daedalus:

Go to the delegation option, (in the Daedalus wallet it’s this icon:)

In Daedalus select “stakepools” and search the stake pool you want. (In this case 1FMLY?) Click on the pool itself and click “delegate to this pool”. Follow the steps. If have any questions, don’t hesitate to contact us. Be aware a delegation will cost a little fee, as it is a transaction in the Cardano network. Don’t worry, it’s only a small fee and you will definitely earn that amount back by staking to the pool!

Yoroi

In the Yoroi wallet it’s the tab called “Delegation List”

Click the searchbox “Search By ID” and type 1FMLY. Next click the magnifying glass icon. 1FMLY will appear. Click on “DELEGATE” and follow the steps. If have any questions, don’t hesitate to contact us. Be aware a delegation will cost a little fee, as it is a transaction in the Cardano network. Don’t worry, it’s only a small fee and you will definitely earn that amount back by staking to the pool!

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