Re: staking using ada with Yoroi mobile

Question

Well, two questions: (I'm a newbie so please go easy)

1. So, I started staking with mobile Yoroi my Ada coins. I've looked all over the interwebs, there is no info on this topic:. While my ada is being staked, do the coins go up & down with market pricing as if they were in my exchange wallet? I'm sure it does otherwise it would be extremely lame to stake if a project like ada is going up in value!!?? Please can someone clarify!

2. Why in my Yoroi wallet does it only give me my token count? It doesn't give me an estimated market value in dollar amount??? It's 2021, that would be nice, then I wouldn't be asking the above first question. Thanks and please go easy on me, only been in crypto for 10 months. MG

Answer 1

Few points regarding staking are as follows.

• Staking will not affect the market value of ADA in any manner.

• Staking ( as I understand) is a way to implicitly trust the Stakepool you had delegate and give it more power while participating in Block production.

• You can decide to change your deligation(which stake pool you trust) at any time you want.

• You can remove any amount of ADA from staking at any time you want and sell the coins by transferring them back to exchange at the market rate.

Yes, it would be nice if the market rate is shown by Yoroi wallet, like Daedelus.

Answer 2

yes, your staked ADA will continue to fluctuate in value as the ADA price changes, like all ADA does. Your staked ADA never leaves your wallet, so as Raghu points out above, you can remove your stake at any time (although doing so before the end of an epoch means that you may lose your rewards)