 Okay, so we already did a deep dive on Avalanche about what it all is and what it entails. We had somebody from Avalanche come in and talk to us and now we're going to talk about staking. So depending on where you're watching this video, if you're watching this on YouTube as it is all together, or if I've broken these up into two different videos, you can find the Avalanche deep dive, I will link that in the description, or it'll also be at the end of this video, or if you're watching the whole thing together, then of course this is just seamless. And also if you're watching this over at DanTeachersCrypta.com, just know that everything that we talk about, the links for everything will be right below the video itself, or on YouTube, the links will be in the description. So what we're going to talk about today, right now, is why should we stake our Avalanche? We're going to do a wallet, Avalanche wallet setup, how to transfer your Avalanche from an exchange to the wallet, the difference between an exchange, a P-chain, and the rewards you can expect. And then we're going to talk about the Dan Avalanche stake pull ID and how to stake to that. The thing I want to talk about is why stake it? Why even stake Avalanche right now? Because on some exchanges, you can just go over there and gain some yield and you're like, wow, that's great. And the answer is you don't have to move it. You can keep it right there and you can gain yield. But here's the thing about exchanges is that some exchanges actually do stake your Avalanche, but a lot of them don't. A lot of them rehypothecate your Avalanche, they give it to hedge funds or to institutions and they're able to do whatever they want to do with that. They can short things, they can put it out in different markets, they can do essentially whatever it is. And then here's the odd thing about that. And we've talked a lot of different exchanges about their terms of service. They're not responsible if something happens or there's a big hack. So just know that if something goes wrong, you're on the hook and you don't own anything, really. So when you're talking about staking Avalanche, with Avalanche you keep it in your Avalanche wall which we're going to set up a little bit. You have control of your private keys and you decide what happens. So that is the one big thing to keep yourself safe. Also just know that, again, some exchanges are not staking it. They're just rehypothecating it. And if you stake your Avalanche, you are actually securing the network and it actually kind of works pretty well in that regard. So again, it's up to you. Your goals are not my goals, I personally stake and I'm a validator here. So what I want to do real quick is do an Avalanche wallet setup. So what we're going to do is go to this site, looks just like this, and it's wallet.avax.network. And it's pretty simple right here. It's going to ask, do you want to access the wallet you have or create your new wallet? So I already have one, but just so you know how this works, you're just going to click on create new wallet. And if you click on generate the key phrase, that's going to generate a mnemonic phrase. So if something happens, you can get back into your wallet. Never share this with anybody. Make sure you write this down. I personally use a stonebook. Their links in the description or right below if you're on Dante just crypto and it saves them all right there. So they're really ready and handy. Do not lose this. And also don't write this down and put it in or type it into your computer because you're going to computer get hacked as well. Keep it offline. Old fashioned is sometimes the best. So that is how to generate a wallet. I already have one. So I'm going to go back real quick. I'm going to click on access wallet. And there's a number of ways to access your wallet again, use the private key, the amount of key phrase that we just generated before or what's called the key store file. And a key store file is you can do that in the advanced part of the wallet. It makes it just simple to get in, but it doesn't really matter. So whatever you want to do. So I'm going to find my key store file, put it in my password and I'll be right back. Okay, pretty simple, right? We've already set up our wallet and this is what mine looks like. And you're going to notice that it's a little bit different than some of the wallets that you're used to. There is what's called right here. It's called the X chain, the P chain and the C chain. And just so you know, just to give you an overview of what the heck was going on and why that's so important, there is three types. So the Avax tokens exist on the X chain where they can be traded. On the P chain where they can be provided as a stake when validating the primary network, which we're going to do in a second. And on the C chain where they can be used in smart contracts or to pay for guests. So that's important to know those three terminologies. So again, we have the X chain, which is where right now all my Avax is, which is a whopping 28, the P chain and the C chain. So what we want to do right now is I want to show you, if you don't know, is how to transfer Avax from your exchange into your new Avalanche wallet. I'm going to make this very quick and simple or as simple as I could possibly make it. And I'm just going to use Kucoin. And Kucoin is pretty easy to work with. Here we've got a bunch of my whopping 5.7 Avalanche here. I'm going to go over here. I'm going to click on withdrawal. And when I withdraw, then it's going to ask me, okay, what wallet, network, amount and remarks. So where do I find the wallet? Well, I'm going to go back over here and it's Avalanche. Let me blow this up so you can see this. So again, X chain, P chain, C chain. I want to show you what would happen because I want to use the X chain, right? That's the exchange. That's when I want to transfer things. I'm not going to stake it right now. So if I use the P chain, what would happen as far as if I screwed up? So I'm going to copy this where it says PAVAX, UNTQ, blah, blah, blah, blah. And I'm going to go back to Kucoin and I'm going to put in this wallet address that I just did. And it's going to ask me about the network. It says, contains invalid or sensitive information. And see everything. Let's see if I can do this. Address does not match the chosen network. How about an AVAX chain? It does not match the network. So I can't do anything right now because I'm not on the right chain. So I'm going to go back and do the right thing that I'm supposed to do where I want the X chain up here. I'm going to click on the copy button and I'm going to go back to Kucoin and I'm going to wipe this out because I, it's not right. Put this in and then come back here and it's going to say that's not right. But maybe, ah, there it is. I'm on the right chain or the network, the X chain. So now I can withdraw from exchange. So I've got a max of 5.7. I'm a baller. So let me put in two. And I want to put this to, I'll just say to a VAX wallet. And it's going to say, do you want to confirm? Yes, I want to confirm. And before I do that, this is something I always do. I just, I just compare the first four characters, X, A, VAX and then the last four, N, U, N, Q, T, J or something like that. Let me take a look over here. Is that right? X, A, VAX, N, U, N, Q, T, J. Okay, it looks right. I just want to make sure because I, I'm a control freak. So confirm. And I'm going to click on, does this look right? Yeah, it looks right. Confirm withdrawal. And then it's going to ask me for my password and a code and all this stuff because I like security. I want to get ripped off. So let me put that in right now. And let's see. One, two, three, four, five. And then I'm going to click on send code to my phone, which should be, actually should go pretty much right away. Let me make sure. Yeah. And there it is. Wow. Let me put this in. 980. And this only lasts for 45 seconds. So it doesn't really matter. And submit. And bam, I am successful. So now this is going to take, usually it takes a couple of minutes to hit my wallet, but it's not important right now. We'll, we'll check out in a second. Here's all my, here's all my different transactions I have over here, but I just wanted to show that to you so you know exactly how that works is how to transfer and your avalanche from your exchange to your wallet. And again, every wallet is different, but it's the same kind of process almost. It's just find a way to hit a button to where you withdraw or do whatever. And then just find the right, just copy and paste that wallet address and off you go. So now what I want to talk about is what's called the X chain to P chain and the rewards. What am I talking about here? So this right here, let's go back to our wallet and you got portfolio on the left hand side, send, which we don't really care about right now. And what's called cross chain. And you can see right here, it says source X to destination P. And what they're talking about here, when we go down to earn, just to make this very crystal clear where it says to validate, you need 2000 abax. Okay. We don't, you don't, we don't have that right now, but for delegation, if you do not own an avalanche node, we want to stake your using node, you must have at least 25 abax on the P chain to become a delegator. Okay. So that means essentially is that all those tokens that we just went from Kucoin to the X chain. Now you have to go from the X chain to the P chain, which is pretty simple because we click on cross chain and it says the source X destination P. Down here, source X to P. How much do I want to put? I don't want to put the max. Let's just put 27. I'm going to put 27 abax. So I need a minimum of 25 to get this going. And there's a fee of 0.002, which is like 20 cents or something like that. I don't know. Right now, I think avalanche is like 30 bucks. Okay. So I'm going to click on confirm and it's going to say, do you want to do this? Yes, I do transfer. It's going to go, okay, export to import and committed. So now what I want to do is just to make sure if I look up here in the top, top middle here, it says, here's my balance. What's on the X chain, 3.994. What's on the P chain, 27 abax. Now we can do what's called go to earn and we want to delegate. And we're going to add a, what's called a delegator right here. So click on that. And then just, you know, look at these fees. So there's different nodes, just like in every place, you know, Cardano or Solano, whatever else, there's different fees for it, right? Some are 10%, 20%, 5%. That seems to be reasonable. And a validator stakes and so on and so forth available and blah, blah, blah, blah. Okay. So, man, what? 50% fees. That's crazy. Okay. It doesn't matter. So what I want to show you is up here. Let me zoom out a little bit. It says, select a node to delegate. You're welcome to delegate to anybody you want to, but I hope that you would delegate to digital asset news, avalanche, stake node, and we need a node ID. Where do we find that? Well, a great thing is that I made this as super simple as I possibly could. If you go over to dantejascripto.com, the thing that circles above my head constantly, when we go there, in the upper part here for the menu, it says home, sign up about reviews, blog, contacts, staking. We've got two. We've got all the information you want to know about Cardano staking. And then there's also, I added this in a couple of nights ago, avalanche staking or AVAC. So we're going to click on AVAC staking. And it's going to take us over here to this nice little page. And it's going to talk about digital asset news, AVAC stake pool. And this is all the information that you need about our stake pool. So just so you know, the owner pledge, I pledged 50,000 AVACs, which was no small feat. Let's just be honest. 50,000 at around 30 bucks. Yeah. Yeah, a little bit. So with this, this is what I pledged and I put it up for a year. I'm staking it for a year. I believe in avalanche. I believe in the team. So I want to show everybody this is how it's going to work out. So I got 30,000 AVACs works pretty well. Transparency, if you want to find out all the information we just started, you can click on here and it's going to take you to this nice staking of our AvaScan about our node and node ID is right here. It says EB, blah, blah, blah, blah, blah, blah, blah, blah, blah. Okay. And that's us. And we're staking for a complete year and we put in 50,000. Okay. So before we go on, just so you know, you can find that that node ID there. I put the node ID also up here so you can find it very simply. The video is itself. Here's the deep dive. Want to watch it? It's over there. Here's all the links you need. See, we've got roadmap. So you can take a look at the roadmap of Avalanche, which we talked about in the deep dive, the website for AVACs network. And then you click on this. This will take you to the wallet where we just created it in the beginning and also some tokenomics right there. And then as you, let me see here, as you scroll down here, this is the video you're watching right now, which is about how to stake it. So just so you know, there's a little bit of differences between like an Ethereum staking, a Cardano staking and Avalanche staking. Here's how it really works out. It goes like this. So for Ethereum, you have to lock up your Ethereum for until Ethereum 2.0 comes up. It could be here, it could be two, nobody knows. Just depends. And that also you are not keeping in your own wallet. It's going to another wallet for a validator. And that's how it goes. So you're not in control of it, really. Also on Cardano, it's kind of the opposite. You keep it in your deadless Yoroi or a light wallet. You control your private keys and there's no lockup time. So you can remove it at any time you want to. This is good and bad because you can take it out whenever you want to. But that means that anybody else can take it out. And since it's not locked up, that means that it's really not off the market at any one time. It's good for easy use and everything else, but to see like all the different tokens that are locked up, if you can lock up a ton of tokens and if that would decrease the actual supply because it's all locked up for years or whatever else. And you still have the same demand. What happens to the price usually goes up. Here's how it works with Avalanche. Avalanche, you're going to keep it in your wallet, the Avalanche wallet you just created. You're in control of your private keys like I talked about. However, you're going to have to pick a lockup time period. And that could be between two weeks and a year. And right now a year, you're getting about 10% yield, which is pretty good, let's be honest, for just locking up and doing absolutely nothing. You can pick six months. You can pick two weeks, whatever. But there's different time frames that you can do. And the less timeframe that you pick, the less your yield. So I think like in six months, you get around 4.99% for six months. Again, the more people that actually lock it up for a longer period of time, I think the more that we'll see an increase in the price because people can't get any more Avalanche because it is locked up for all this time. And now it comes down to you. What is the best option for you? I don't know because your goals are not my goals. So it's up to you to decide what I want to do, how long I want to lock it up. And that's pretty much what it comes down to. So let's take, let's go back here as I kind of got off a little bit. The website itself, we've already copied the ID. Let me do it one more time just to make sure. That is the node ID. You can find a couple of different places. I will actually link it in the description in the YouTube video. I will link it below at Dante Descripto. I have it on the webpage, so it's very easy to find. Let's go to our wallet and we're gonna search for a node ID. We're gonna paste that in. And there we are. So validator stake 50,000, available 200,000. That means this, how much more can be delegated to this validator? So for ours, I've already put in 550,000, okay? And we only have a maximum amount to be saturated at 200,000. I expect this to happen very quickly. And we just wanna keep it low. This is where we're at. So this will be our pool will be for a year. You're welcome to delegate for two weeks, six months, a year, whatever you wanna do. And this is our fee, which is 5%. So you just saw some other fees were 50%, 20%. There was like one 5% and ours is 5%. And what that means is the reward that you get in Avax, that's just the charge we have. So like if you get 100 Avax for however much time, we just charge 5%. So we're gonna take a whopping five Avax for doing all those things and that's it. So that's really what we got. All right, so next thing I'm gonna say, I'm gonna click on select. And then real quick, before I do that, if you wanna take a look at just how much is being locked up and how much you could potentially get. As far as like lockup periods, that means for staking, if you look at Cardano, just so you know, total stakes for Cardano is 70%. That's a lot. But if you look at Avalanche, you know how much is staked already or how much is locked up really? Locked, 56%. So when I talk about the price appreciation is in the deep dive video, I mean it. I think this could be a very big thing. And it's, I think it's almost, it's a balance between the best of both worlds. And then if you wanna take a look at the rewards, just go, I'll link this also, it's under staking rewards. If you put in, let's see here, $1,000 worth of Avax for a year, it's about 10%. And let's go for 180 days, you're looking at 5%, 90 days, it goes even 2.5%. So again, it just depends on how much you wanna lock up and go from there. So that's really what it comes down to as far as rewards. So let's go back and select this one and go here. So just so you know, node ID, EB, blah, blah, blah, 5pp, the five is 5%. Uptime, our uptime for the chrono stake pool is 99.9%. We're gonna have the same on Avalanche. Active stake is 50,000, available stake is 200,000. The stake start date was, looks like it's August 17th. So that was just two days ago. And the stake date ends August 17th, 2022. So the staking end date. Now this is where you pick it. Your ABAC tokens will be locked until this date, September 9th, 2021, if you want to. Let's pick something a little later. Let's go to the 13th. And let's do a max. And this is, and the staking duration is 86 days. Estimated rewards, it'll put it right here, 0.57. The fee is 0.03 ABACs. It's pretty low. But that is what the 5%, yeah, 5% of 0.57 and off you go. So let's just do max and see what our estimate rewards would be. So four, it's funny. For 27 ABACs, we're gonna get almost three and the fee is 0.14. Again, the longer you pick, the more it is. And you can do an ABACs, you can see that in USD, how much that's worth. It's pretty good. And then there's the fee. So you get 86 dollars, the fee is $4. And I'm just gonna go for a year. When let's just confirm it. Now, once I confirmed this, just so you know, you were locked in. You can't move this around. You can't go, I didn't really want to do that. I want to take it out. So again, be very careful with how you stake. You want to go two weeks, three months, six months, a year, how much do you want to go? And that is it. So let's click on confirm. Again, it's gonna 27 ABACs. Delegation will start five minutes after you submit the form. So if you want to change, you're like, what, didn't do that right? And da-da-da-da, off you go. And then we're gonna click on submit. And right there, we are what is known as committed. You are committed. And that's it. All right, so that, my friends, is all we have as far as for staking. So look, I hope this staking video helped you out and made you, helped you in your decision. Again, this is the not financial advice. It's a financial opinion. And again, your goals are not my goals, but I just want to make it as easy as possible and as thorough as possible so you understand the whole process of how this all works. Again, you can find the information over at danteacherscrypto.com. Click on staking and ABAC staking. You'll find all the information there. Anyhow, let me know what you think in the comments section. If you liked the video, give it a thumbs up. Consider subscribing, and that's it for today. So thanks so much. I appreciate it. See you on the next one.