How to stake cardano ada for passive income | and get free airdrop

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How to stake your Cardano and earn passive income through your investment? This video is your step-by-step guide on Cardano staking and how to get free airdrop on the Cardano network. To stake Cardano on Yoroi wallet is unlike staking Cardano on centralized exchanges, when staking Cardano on a wallet such as Yoroi wallet it means you are in control of your funds, your private keys and you can qualify for airdrops

00:00 Intro
00:15 How much can you earn from staking Cardano
01:19 How to stake Cardano on Yoroi wallet
02:53 Crypto wallet recovery key
04:38 How to deposit Cardano on Yoroi wallet
07:40 How to unstake Cardano on Yoroi wallet
08:45 How to get sundaeswap cryptocurrency for free
09:29 Closing

To buy Cardano open your Binance account but preferably I will choose Bybit

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List of staking pools to choose from for free airdrops for the Sundaeswap IDO

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What is staking?
Staking is similar to bitcoin mining but instead of having a hardware mining device you send your crypto holding to a staking pool to validate transactions

Staking Cardano is a great way to earn ADA staking rewards as a form of passive income for holding Cardano. Basically, you are earning interest on your crypto holdings the interest is paid in Cardano so this is also the best and easy way to accumulate more Cardano, staking means you agree to lock up your tokens for a certain period of time, during which they are unspendable but you can unstake at any given time. some staking nodes have a waiting period to unstake your cryptocurrencies

Why should you stake your Cardano?
If you are already invested in a specific cryptocurrency staking will ensure that you make more money and you will be contributing to securing the blockchain network not to mention that you can make even more money through raindrops

What are airdrops
An airdrop is a distribution of a new cryptocurrency token or coin, usually for free, to a qualifying wallets address, to make sure you qualify for these airdrops you must have interacted with a specific blockchain within a certain period of time, the blockchain will often take a snapshot of all records of these addresses and allocate the airdrops accordingly

How much can you earn from staking Cardano ADA?
As of the time of writing the ADA rewards are 5% per year but remember this is 5% free money on the investment that you have already made

Only stake cryptocurrencies that you were already holding on your portfolio do not just buy a cryptocurrency for the purpose of asking because these currencies fluctuate in price

#ADA #CardanoSatking #vusidesigner

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