Coinbase Staking vs. Stake Cardano

Coinbase Staking vs. Stake Cardano


welcome everyone today I wanted to talk
about the recent news and I’m sure that most of you received this email
especially with here in the United States it was a Coinbase email
yesterday and it was all about Tezos staking is coming to Coinbase and the
reason why we’re talking about Tezos today is not because I’m talking about
the project but we’re going to be in a similar situation in the future and I
want to prepare you for it so you’re going to have a lot of different
options of who to delegate to which pools to delegate to you’re going to have
your local small business staking pool you’re going to have bigger staking pools
may be run by institutions and then you’re going to have Coinbase that’s
running a staking pool here at stakecardano.io we hope you delegate
to our pool but this is more of a general video for the audience and the
reason why I wanted to talk about this today is because there are great
solutions that Coinbase is putting forward so this whole idea of staking
and custodial solutions for the everyday user this is very important
but I am talking to the person that is more in depth in Cardano or maybe
would like to maximize their returns and when you look at the Tezos announcement
by Coinbase you’re going to see that it says that the rewards are around 5% but
next to the 5% there’s a small little asterisk and that asterisk is usually a
disclaimer you scroll down and you do not see any disclaimer you have to go to
a separate page and you have to go to a far-off section in the middle of the
terms and conditions and you see that Coinbase will be taking a fee of 25
percent before they hand you your staking rewards I’m not sure what the
method is I’m not sure if they take it off that five percent or it’s a higher
than five percent and it goes down to five percent after they take their
twenty five percent commission oh wow that’s highway robbery
yes but Coinbase does have a very large operation with lots of investors
and lots of employees and they have operating costs
this is why it’s advantageous for you to find a local staking pool a smaller
staking pool small business staking pool that cuts their overhead and passes on that savings to the end user
passing on those rewards to the end user because 25% is significant I don’t know
what our staking rewards fees will be I’m not a hundred percent sure what the
mechanics behind the system are but we’re looking to beat Coinbase for sure
I can guarantee that so moving forward I want people to understand
exactly what they’re doing when they’re delegating using a third party and
notice in the language it also says that before Coinbase hands the rewards tyou
don’t you see that there’s a problem there there’s an intermediary step
before those rewards happen to you what if you’re undergoing some issues
maybe with the IRS or you have some sort of custodial support issues with your
spouse and there are lots of different scenarios that happen to people all
over the world and money gets frozen you’re in a lawsuit or this or that tons
of reasons why and money gets frozen and the first places that they’re going to
go to are the bank and in this case Coinbase is the bank and
you’re not going to be able to receive your staking rewards until Coinbase says that they took their cut and you’ll receive those thinking rewards but in
the future what if they get so big that if they receive certain orders they’re
going to have to push those forward so we encourage you to come to stakecardano.io choose wisely because the fine print says everything so 25%
and in separate news I think Charles did an AMA yesterday or today
whenever I release this video and the important thing is that you have your
ADA and Daedalus or Yoroi you can have it in paper
wallets you can have it in your mobile wallet but needs to be on Daedalus or
Yoroi and it can’t be on one of these things I’m not sure how many of you have
it but it is a Ledger Nano S if your ADA is on a Ledger Nano S you will not be able to participate in the snapshot
just letting you know that and we are learning as the test net is progressing
as well so we’re not getting any early information so we are literally getting
the information as soon as you’re getting the information
we will release tutorials on this channel but it is a slow process of
disseminating information that’s coming from IOHK and making sense of it all
once again as long as you have your ADA on those wallets there’s really nothing
that you need to do right now yes the snapshot happens next week yes there are
some milestones that are coming make sure you have your seed phrase and make
sure you have your ADA on a wallet let the stake pools do the rest and let
the stake pools figure out what’s going on with Jormungandr and just sit
back wait for news and I’ll keep you updated on this channel. I was going to
send an email update but Charles went for an AMA so the information that I was
going to email was outdated so I’m waiting for a little bit more concrete
information and then I will send out some messages so thank you for all
the support reach out to me if you in the comments section if you have any
questions and until the next video bye everyone

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About the Author: Maximilian Kuhn

43 Comments

  1. cardano only a weak point is very slow and lazy engineers team behind,,,and cimmunity leaving ada and join other better project

  2. fk coinbase lol,i wouldnt stake with them for anything, these dudes are greedy pos, they rise fees for people buying/selling the smallest amount of money and lower fees for the rich, those dudse can kiss my ass.

    also was curious, you are talking about the staking, is this referring to the testing thats going to be going on soon? or are you referring to when the main staking starts whenever that may be, im assuming you're referring to the real staking and not the testing/snapshot stuff

  3. I know this is unrelated, but can anyone explain to me or link to me an article that compares Cardano and Tezos? I'd really love to see how they compare.

  4. I don't know… 25% sounds like a large chunk. Sounds like some Pay Day Loan move. But even if it was 1% I wouldn't be f*ckin with Coinbase on this specific thing. I plan on riding with Stakecardano.io even if you guys take a 26% cut. I'm liking the Daedelus update version too. I have a Nano Ledger and have had one for months but have not fully utilized it (no coins on it) because I've not been 100% sure how to resolve my dilemma with it (I had an exist Yoroi wallet). I do have the Nano Ledger set up with pin code etc. though. But I move like a turtle on all this stuff.

    Anyways… honestly I'm not looking for money (more ADA coins) per se from this Test Net Staking thing… as much as I want to actually "do it" to learn. I figure learning about this stuff in the early stages might help me years later down the road with crypto–or at least reduce some of my anxiety with the technology.

  5. Hi. If i dont participate in the testnet and just keep my ADA on the ledger nano s. What happens? will i lose my ADA? Some years ago lots of ppl lost tron because they kept their trx off the exchanges when the ledger was changing

  6. so do we place our ADA tokens in our wallets and then after the 12th move them to a new wallet ??? and am how do i get on your staking list

  7. My Daedalus wallet on my pc does not open and I cant find a lightweight Yori wallet to download to my apple ipad so no staking for me for awhile

  8. Goodday Philpa, hopefully you will see this question and have a answer. I have some Ada on a hardware wallet, the ledger nano s. I also have a Yoroi wallet. What kind of steps do i have to take when i want to take part of the Ada staking at the 12 of November. Is my thinking correct that i have to send the coins to the Yoroi wallet. But how, by opening the Yoroi wallet and connecting the ledger nano s and open the Cardano app (all day long at the 12th of November??) Kind regards J. Willems

  9. Individuals should absolutely stake their own coins. Cardano makes it easy. I do think it is good for larger entities like Coinbase to be able to stake also as they can hold coins for institutional investors like pension funds that don't hold their own coins.

  10. My question remains the same… does a paper wallet automatically stake in the testnet for rewards or does it have to be loaded into Daedalus

  11. Very good information though….. anyone with their crypto on ANY exchange has rocks for brains unless you're a trader

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