 Welcome to the Jalassa News or Dan for short. My name is Rob and today it's the time of the news. I want to talk to you about how to stake polka dot and to do this first We have to go over a couple of ground rules and the ground rules are very simple now when we transfer any crypto To any other wallet, I don't care if it's staking or if you're paying somebody or whatever else Always do a test transaction first and that applies here to staking rules number one Second one is we don't want to know the lockup periods because there's nothing worse than Having a staking opportunity with crypto and figure out that oh, I can't the lockup period is two years And you're just sitting there waiting for then also we want to know the unstaking time frame because sometimes when we lock it up That could be for days weeks or months or even years and after that There's also an unstaking time frame for how long they could last and those could be two different things and lastly of course Along with everything else that we talk about here is take profits on the way It's really great when you're accumulating all this crypto But it does you know good once you take profits along the way especially in some massive bear markets I've been through 2018-19 now. I'm going through 2022 with all of you So we'll see it all works out but again take profits on the way nobody ever went broke taking profits That's the first part second part. I will say is this if you want to find out anything about staking and which cryptos are great Go to staking rewards comms link in the description staking rewards comm very simple. It shows you The top cryptos that you can stake for and how much the rewards are so like for example, Ethereum You're getting a whopping 4.88% but of course You also know that there is a lockup period which nobody really knows exactly when you can unlock There's supposed to be a Shanghai update Coming through and then hopefully you can Unstake at that point and then also you can take out your your profits, but who knows Solana almost 6% Cardano It says 3.54 but actual audience around 4 to 6 percent depending on which pool you have We have one at D news link in the description you figure out Or you can find bats and we explain that as well in another video BNB chain avalanche and then polka dot and you'll notice here polka dot is pretty high 13.99% the one the only one that beats it right now in the top 10 is cosmos That'll be the one that we do next. I'm already staking near and cosmos and all these things, but let's just go over polka dot itself So here's the overview of The polka dot staking and what you can do here I want to make mention of something quite important now right here. It says Nominators and of course there's another one called validators. What are those? Well validators in the Cardano ecosystem those are stake pool operators Validators are just the stake pool the people that do all the work and they secure the network and where you're going to Put your your polka dot in not that you're gonna fizzly take it and lose your private keys But that's who you're going to pretty much pledge to it. That is the validators Nominators, that's us. That's the ones that we say, okay We have so much polka dot and we want to nominate these validators and we want to essentially give over or Put in our polka dot to those specific Validator pools and one thing I want you to notice right here. See where it says 39,000 853 out of 50,000. That's it Once they hit that number to 50,000 they shut everything off and you can see right here You can click the little I right here. They'll say total nominators Accounts who are staking the network regardless of whether they are active or inactive in the current session in order to stake dot You must be a nominator and that's what we are right here So once they hit 50,000 now they could change that but as of right now They're 10,000 roughly and that's it and of course here we have active nominators because through through each cycle they call polka dot calls it an era in In Cardano, they call it an epic. I know it's I know it's spelled EP OCH But that's what Charles Hoskinson calls it epic. So I'll call it epic Anyhow over here in era is 24 hours in epic in Cardano world is five days So one day or five days and these active nominators These are the ones that are actively They are staking and they're these the ones that throughout all the different validators These are the ones that are going to produce the next blocks and they are active right now I'll see you can see here store rewards rate inflation This is something to note. Just so you know inflation Inflation our dot is inflationary. There is no maximum number dot inflation is designed to be approximately 10% annually With validated rewards being a function of the amount stakes and they're remaining going to treasury So just so you know, this is not deflationary polka dot is Inflationary and then the minimum bonding amount to start on polka dot is now 10 dots. What does all this stuff mean? Well, let's go over how we should actually do this So there's a great little walkthrough how to use poke dot with ledger live So just so you know, we're there's a different ways that you can stake it. I am personally going to use my ledger It's the most for me. It's the most secure. I like using ledger It's all there if you have any questions about what's a ledger how to use a ledger How do you update the firmware? How do you transfer everything? There's this website. It's called down to just crypto.com It's a hundred percent free just go there click on start learning sign up It's just your you just pick a username and set up your email and then when you go to into the modules It's be module number two safety and as we go into this one scroll down a little bit I show you how to set up your nano ledger. What's a public and private key? Setting up your ledger live after and do it in a second transferring crypto assets from exchange to wallets Deleting I'm storing a nano ledger and so on and so forth. So it's all right there for you. So What to know Before starting nominating Which is Nominators are us. We're the ones that are going to be sending over forking over a polka dot Currently requires a minimum of 10 dot staked funds on polka dot now. This could change This is the most up-to-date information that we have it used to be much higher 120 then went to 80 now It's only 10 so good for us Please make sure you're above the minimum if you don't want to be able to nominate Very important here. Not all nominators with over 10 dot will get staking rewards. That's why we're going to be picking Multiple validators. That's what's pretty cool here in polka dot instead of in cardano You can only just pick one stake pool with polka dot you can pick up to 16 validators or stake pool operators and Not all nominators will tend to out with the same reward the minimum amount needed to earn rewards is dynamic and can be found The target's page. There's also a maximum of 50,000 nominators, which we just took a look at over here 50,000 is the maximum In place the moment that means if there are already 50,000 nominators You will not be able to nominate Even if you have more than the minimum amount stake meaning you won't get any rewards And then important in order for ledger live to work properly with your polka dot account Make sure you've installed version 2.32 or above and then go to the settings We're going to do that right now But first I just want to read this last piece to make sense Before you begin staking, please pay close attention to these important points Do not bond all your funds bonding is essentially saying, okay, I have 150 dot I'm going to I'm going to bond them and I'll make them available for these validators You can't use all of it. You have to leave a small amount in your account So that you can pay transaction fees from it changing validators bonding more or bonding your tokens or all Transitions will cost a small fee. So you must always have a little bit of it's like it's like a theorem gas We'll just say it like that Any changes you make will take effect in the next era. Remember each era is 24 hours So when you first take your rewards, we'll begin to come at the soonest After a day and four hours and at the latest after two days. So great. So we know that up to two days So don't freak out if you don't give me any rewards immediately. It's okay. It's gonna be all right So now we're gonna do is we need to do what they talk about is make sure With the latest version of ledger live, so I'm going to share my ledger live So I'm in my ledger live account up right in the corner. There's a little cog there. So settings I'm going to click on that I'm going to go to about and right there the version We they wanted to be 2.32 ledger live right now is a 2.48 that is the most updated version If it is not, there will be a little button here that says update so update that before you do You're trying to stake your polka dot and voila here. I am and we're in our our ledger live account Now I'm on the tab my ledger. What I want to do is I want to take a look at I'm going to search for the app in the catalog, which would be quite easy. I'm going to put in polka dot and there it is polka dot ledger live supported fantastic So I'm going to click on install That's going to install the app and just you know, there's a ledger nano x and ledger nano s x If you're gonna if you have an opportunity just get the x because it has so much capacity ledger nano s It's like three or four apps. Then you got to get another one. So Get the x it's a lot easier. I've got a couple myself and a couple of s's and if you're looking for A code if there's a link in the description, you can get one yourself And if you don't want to wait you can also go to I know best buy is now selling them go directly to best buy Don't be lazy go in there don't get scammed and pick it up off the shelf Then also I believe targets also selling them now. So mass adoption. So here we are we have polka dot dot great Now we're going to click on accounts right here in the upper left hand side And we're going to see okay. What do I got cosmos dodge comp? And I'm going to click on this little add account button right here Choose a crypto asset quite easily. I'm going to pick on polka dot Look right there in you And then open the polka dot app your advice, which is the one right here. So I'm just going to scroll through Open a polka dot. Yes Polka dot ready. All right And now everything's synchronizing Great polka dot one that sounds good. It's a good name add account Confirm and then done fantastic So now you can see that it's right there and also I just so you know I could have done over here under my ledger And then under apps install as I already stalled I could have just clicked on add account If I really wanted to but I didn't I just went to account to show you two different ways anyhow So back to the account real quick. So polka dot and click on polka dot No crypto assets make sure the polka app is installed and start receiving so I'm going to click on you can Depending on your geographical location you actually buy crypto through ledger, which seems pretty sweet I'm in the united states. Uh friend of the show gary genzler doesn't allow those things. So I'm going to do that We're going to click on receive And this will go to Rule number one. We're all going to send a test transaction. How do we do that? Well, I'm going to have to go find where my polka dot is which is over on kraken So I'm going to show you how to do this. So account to credit poke it out. That's true continue Let's put it up here. Okay again Okay, here's my address 12 x n blah blah blah nine aoz I'm going to click on this copy right here because I'm going to need a little in a bit address copied And then once I'm going to verify it here I'm going to look on my my device and it is right there and I'm going to prove that And we're done so Now that I have My polka dot address which is in or in my ledger Now i'm going to go to kraken and i'm going to send My polka dot to my ledger. Let's do that. So here I am in my kraken account. I've got a whopping 150 polka dot I have nine dollars as far as usd coin and doge. I have point zero five Or a nickel of 10 doge watch out baller So polka dot again, whichever exchanges you're using whatever a place There's going to be some kind of button or some kind of option where you're going to send receive deposit whatever else We're not going to stake. We're not going to trade with draw Deposit we're going to withdraw we're going to take out this polka dot I'm going to click on withdraw And it says only withdraw to address during the polka dot number exactly which is what we did right right right there So polka dot here would draw add a polka dot address. That's one the one that we just had and We're going to put the address itself address description Let's put ledger With draw address and we're going to paste that in there. We're going to make sure it is a zero seven I remember that and the very part 12 x in that is it. We're going to add withdraw address Okay, the draw address needs to be confirmed. We'll do that behind the scenes right now Great and the address is approved. Let's jump back to cracking all right, so Withdrawal amount now again. I'm not going to withdraw everything. I'm not for sure about this not 100% I mean I'm 99% sure but there's always room for error, right? So let's just do a test transaction So I'm just going to go with three Three polka dot. That's it Not a lot. I'm going to withdraw. Uh, of course, there's a also There's also a fee for that but I'm okay. I'm okay with paying a little bit of fee I don't lose everything. So I want to withdraw 2.95 dot. Yeah, that sounds good We'll draw two point over dot. Yes with draw successfully submitted now for this account I do not have two factor authentication open because I don't use cracking a whole ton Uh what that I used to use it So I don't have it, uh put it right now for the google authenticator But definitely do that for every single account you have it's going to save you a lot of heartache when hackers come I'm knocking. Okay. Let's wait for this. Let's jump over to ledger live and see if it got there And voila, there it is poke it out 2.95 dots. So we know it works We know if we do it again, we're not going to lose everything So let's transfer everything over from the exchange into analyzer. This would go to one of my rules, which is Uh, the very middle one there. It says zero percent exchanges try not to leave Any crypto on exchanges and we've all learned a lesson with that. So now let's take it off So now again, we'll draw an address 12 x n 9 a o z. That's the correct one I want everything 100. So I want to take out 147.12 With draw 14712. Yes Would draw yes And withdraw submitted successfully. So let's wait for that transaction And voila, there it is 150.02 dot and we didn't lose anything We did a test transaction very simple very easy probably took about 10 minutes total And that's what I recommend to do If you're unsure and you want to do it now, I do this all the time I always do a test transaction. You want to have to pay somebody and it works out pretty well now Let's talk about how we can actually stake it. So very simply we're already in our account poke it out So here are nominations you can earn rewards by bonding assets And then nominate your validators and then we just go click on here under the bottom right hand corner earn rewards And now I was going to say you may earn rewards by bonding your assets So we just talk about you keep ownership of bonded assets. That's the big thing You're not sending it somewhere else You're not sending it to an exchange having it sitting in the exchange where it doesn't really secure the network It's goes into your ledger where you control the private keys Not your keys not your crypto and that's why I like to stake within ledger Or if I'm using cardano in the deadless wallet because I am in control of my private keys nobody else And that's a big factor for me So you keep ownership of bonded assets nominate using your ledger advice assets will be available again 28 days after unbonding so that would actually take take a course to one of our second things is Which is understand the whole staking time frame? So when you stake just know that when you unsteak It's going to take 28 days after you unbond everything and we'll talk about that again So choose your bail that are wisely part of your bond assets Maybe irrevocably lost if the evaluator is not behaved appropriately. That's why we're going to vet all of the validators So we're going to continue And here's two options it has available balance and bonded balance. So right now I have 149.91 dot remember what I talked about don't Bond all of your Polka dot because we need a little bit to to move things around and right here We know that I have 150.02 dot. I think it does it for us automatically But just to be sure I'm just going to put in 145 dot and now there's two options available balance or the bonded balance Now here's how this works. What this means is as you get rewards At 12 30 percent of whatever it's going to give us Those rewards are going to go into your account and then you can automatically stake those with a bonded balance If I don't want to do that I can just click on available balance and it'll only stake the 145 as new rewards come in those will not be staked However, they are available to me to take profits If I don't want to do that and say, you know what I just want to compound everything I just want to just have whatever comes in We it just kind of compounds and compounds and compounds all the rewards I think that's available and just keeps going going going I can do that But remember if you do that you have to wait 28 days to unbond everything to sell it So for right now, I'm just going to click available balance. It's up to you to do what you want to do I'm not your dad. This is not financial advice. Do what you want to do for me Just available balance for right now and we'll go from there. So continue. Let's confirm your device defines operation So I'm going to pick up my device again make sure it's uh It's actually active and it's going to say please review staking bond Controller 12 x n a o z. That is my address, correct the amount says 145 This is all right here on my nano ledger payee stash approve. Yes And broadcasting the transaction Assets successfully bond you will you will be able to nominate validators once the network has confirmed your transaction We'll get to that in a second and great that took like 30 seconds Now we can go to the nomination process. Where are we going to pick our validators? Here's all the validators and uh See right here where it says commission 100 percent. Uh, that's not for you That means they're going to take 100 of your profits. They're not looking for nominators right now They're good and there's a ton of them right here. So you can take a look but what I want to do is I want to Dig deep into these guys to see which one is the best option because I'm not going for 100 That doesn't make any sense 100 percent. There we go 10 1 percent So what I want to do is I want to go over to this site and this is polka dot dot j s dot org I linked in the description so you don't have to search for it very simple And these are all the validators all the validators that we have available to us And what's great about this is that you can pick and choose which ones you want and remember You can choose up to 16 different validators and we'll get to that in a second, but Um, there are some options to turn off and on and I'm going to recommend you do these things So one validator per operator you see how on some of these they've got Multiple multiple like a coin-based cloud If they've got a bunch of them here's coin-based cloud again What this means is that these type of operators they have multiple pools They have multiple validators if you would like to do more of the Decentralization then choose a validator that just has one validator per operator So we do that that will reduce many of them commission less than or equal to 10 percent Yes, let's get away from the 20 percent 30 percent 100 percent commission. That doesn't make any sense to me The next one with capacity so with capacity There's only so much as you can actually have For each of these validators So i'm going to click on with capacity meaning that they have enough and I won't have what's called oversubscribed And to make that simple there's this little uh oversubscribed Little icon right here. So if you see that that means that there's there's too many nominators for that validator and what am I talking about here is that Make sure the validator is not oversubscribed only the top 256 nominators for a specific validator get paid. So There's a little icon which says when you're over the limit Nominating in polka dot is an active role if you just set it and forget it You may stop running rewards if you don't notice that some of your validators have become oversubscribed not a big deal Just pick multiple Validators that aren't even close to being oversubscribed to make sure you're not losing rewards Keep checking your validators and choose the new ones if necessary And just so you know If there's more than 256 nominators that nominate the same validator is oversubscribed And only the top 256 ranked by the amount of stake are paid rewards So an example if you're oversubscribed and your stake is a 257 or higher you won't receive squat So just be aware of that. So that's why I'm going to say to with capacity I mean, they actually have capacity. They don't they're not at the top of 256 And then recent payouts. I don't really care so much about that. You could do that currently elected So remember that each one of these eras has 24 hours the nominators they in the background They elect which ones are going to actually produce the block you can do currently elected shore and then this one is Might be controversial, but I like this with an identity. I don't know who's other ones are I know that we're in a decentralized trustless Uh crypto, but I'd like to see who the heck I'm staking with so I'm going to click on with identity and as you can notice That these little blue arrows right here. These are currently elected They are they have capacity the commission is less than or equal to 10 percent is one validator And they have an identity because when you when I click on this like who is dwell? I or I don't know who this is and you can click on there and it'll pop up and say hey This is who I am This is how much dow we have transferable. Here's our email. Here's our website. Here's our twitter Here's our riot account everything you want to know about this so you can kind of reach out of them go Hey, I have a question or hey this what's going on or hey can you help me? So I like that one. I'll stick with that one. So let's see now we want to just Take a look at the returns and of course returns are very The very uh enticing when you take a look at this and you wanted to pick the the the highest one But if you click on all these Usually you should be looking pretty good and there's one more thing I want to make mention of here It says nominators see those there's two columns right here nominators like there's 147 909 remember the max they can have Is 256 so what this is of course since we can pick so many different validators like we can pick up to 16 There is a lot of people who have picked multiple ones But right now active. They only have 147 256, but 909 For different eras eras are all there So all they really care about is how much they really have the lower the number the better quite honestly So this one's got 55. That's pretty good and 16 percent. This one's 16.39. I like this one. Where are we here? that the 55 physics tighten nodes All right, and the commission is 5% you have all the other ones that are 1% you go for that one 3% But I'm just going to pick multiple ones. So tighten nodes. I'm going to click on this. Who are they info tighten nodes? Here's riot no website, but I'll take that one. I'm going to copy this address and what I'm going to do with that is I'm going to shift over to The ledger live and I'm going to Validate them so here we are on ledger live and once again. I want to search by name or address I can go through all these but it doesn't give me the information like I just found So I'm going to Put it on there and there they are tighten nodes unelected So I'm going to click this button here and I'm going to click on continue and actually this might come up if your Ledger goes into standby mode. So you just have to put on your pin 1 to 3 over 5 And go from there. Let's retry that Great tighten nodes 1neb. Please review sticky nominate 1neb 1neb HFO HFO that is correct approve There we are Great. So we have our first Validator chosen. Let's pick a couple more. Okay, let's get that out of there. Let's take a look here So that one was a commission of five percent. Let's go a little lower. Let's see what we can get Well, this one looks pretty good steak pile 1% although the nominator is 1265. It's a little bit on the higher side Maybe I'll go a little bit higher here. How about this one? 60 741 forkless That's pretty good forkless nation The return is pretty high 16.14% pale recently was in 15 days. Let me take a look here Who these guys? Here's their email. Here's their twitter. Sure. Go with that one same process I'm going to copy here. I'm going to click on nominate on ledger live. I'm going to search And forkless nation that they are selected see how it says selected one of 16. Let's pick some more There we are continue It's going to go to my device right here Make sure forkless nation one three one neb One and just so you know on your On your ledger you can do this one by one like we're doing here or you can just pick a bunch of them because right now It's got targets One of two is one neb the titan nodes and then targets two of two which is forkless nation is 130 z blah blah blah And i'm going to prove that I'm going to broadcast the transaction You've said you've got my builders. Great And let's jump back and we can do one more and then last thing I will mention I forgot to mention this beginning is that you see our as total stake own stake other stake If you see right here dwell ir dot the own stake This is what they have skin in the game and I like validators who have skin in the game I like what they say. Hey, I'm going to put it online just like you for their own sake They put in six thousand three hundred 82 dot and then for other stake Which is what everybody the nomination nominators do they put in 1.88 million dot the total will be 1.887 3 million dot for This valet which is pretty good, but again They are nominators. They have 147 909. It's uh, you know not too bad. I mean as far as like Active and which ones they have for nominators, but there's one here It's 6.3. It's got roughly half day seven And they've got 1.8 million dots. I'm going to go with them. Let's see day seven Email antenna novel wallets and there's their riots Copy this and go back and do it again. So again, we're going to nominate Search by address There we are And we're going to let's continue and again you can do as many as you want to do again We're going to take a look at our now ledger. Please preview Target's one of three now one neb 1307 15cf one size cf kpu kv. That's right approve Broadcasting the transaction And let's do the details Great and that's it So That takes care of what is and just so you know the status of an active it'll be an active Again until those one one day four hours up to two days And you go from there and then just keep checking also another thing big thing to check on Is just to make sure that you're checking on where it says oversubscribed and or slashed Slashed is of course just like ethereum if there's uh, some uh bad validators doing bad things I haven't seen any on this one so far So it looks pretty good If you want to make sure to see if they actually have it Then let's take a look at uh, let's see dweller dot There's a little icon right here a little graph on the far right hand corner Just click on that and I'll tell you if there was any if there was any slashes right here commission, elected stake and error points, so One one more thing before I forget if you want to unsteak your dot It's very simple again. You're in your ledger live account up here. It says stake buy send receive We know about that. We're going to click on stake And right here it's going to say bond unbond nominated clear nominations if you want to Unsteak it first you have to unbond everything and I'll say over here bond right now is 145 dots I can choose to unbond them. I click I will just type in 145 And I'll click continue and it will unbond them remember for the unbonding or unstaking it's going to take 28 days So that's exactly how you unbond and unsteak you do whatever you want to remember There's this chill period which is again is 28 days that's we'll conclude everything that uh, we should know more for the majority of How to stake your polka dot again? I like to use specifically the nana ledger because I get to keep control of my own private keys I don't have to leave anywhere else and that is it now the only problem with polka dot is uh, there's that 28 day and depends on how you want to play this how you want to do it It's up to you But I think staking is uh, not a bad option to look into anyhow, that's it for today's video So you like today's video give it a thumbs up consider subscribing and that is it for today So thanks so much for stopping by I appreciate it and I'll see you on the next one