Portfolio Tracker
INFO12 Jun 2022

Is staking in Cardano safe?

Cardano has a 5% yield which is a great APY return, but let us first investigate!

What is Cardano?

Cardano is a proof-of-stake blockchain that was created in 2017 by Charles Hoskinson, one of the cofounders of Ethereum. After leaving Ethereum because of a dispute with Vitalik Buterin, Charles created IOHK, one of the biggest crypto organisations. The primary purpose of the IOHK is to administer and develop the Cardano network.

Is Staking in Cardano safe?

Yes, staking in Cardano is generally considered safe. Staking does not open up any additional security vulnerabilities, as long as the coins never leave your wallet. For this reason, you should make sure that you use a staking provider which is decentralised rather than custodian.

It should be noted that your staking return is a based on how much of the asset you hold. For example if you are holding $1,000, and the yield on Cardano staking is 5.02%, then you would be getting 5.02% APY on $1,000. But if the price of Cardano were to fall to $1, your staking return would be 5.02% of $1.

This is less than ideal 😐

How much can you make staking Cardano?

You can calculate your APY return on Cardano staking using our Cardano staking calculator..

Happy staking! 🚀

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