Zilliqa offers good staking rewards. So here is time for another staking tutorial, this time for ZIL.
You can expect currently a bit less than 32% by staking, as seen on stakingrewards.com website:
As usual, I'm going to explain how to do this with a LEDGER Nano device, but this shouldn't be that much different with another hardware wallet.
If you want a coupon for a 20% rebate, send me a message :)
First, you need to install the Zilliqa app on your Ledger Nano device.
Next, you need to go to the Zillet.io website and the various popups.
When done, you are presented a screen like this one:
By clicking on the "Connect" button in the "Ledger" section, you're asked to unlock your Ledger Nano device and run the Zilliqa app on it:
When done, proceed with the required steps on your Ledger Nano device. You should end up with something like this:
Now that you know your public address for your ZIL wallet on your Ledger, you can transfer your ZIL from any CEX to your wallet. I transferred a bit more than 4.6K ZIL on my wallet (btw BINANCE fees are really small for ZIL withdrawals):
It is a best practice to stake your ZIL across different SSN (Seed Node Operators). As 3 of them do not charge any fee for staking, I have simply split my ZIL crypto in 3 parts for each SSN, that is CEX.io, ViewBlock and Ezil.me.
There is more information on this Zillet support page regarding the various SSN with whom you can stake: https://support.zillet.io/staking-on-zillet/#what-are-the-benefits-of-delegating.
Let my illustrate how to do this with one of the SSN: go to the "Staking" tab then click on the "Stake button":
Next, choose the SSN and the amount you want to stake with this SSN:
After you click on the "Stake" button, you will have to confirm the transaction on your Ledger Nano device and you'll see the confirmation:
It took quite a while for my first staking transaction to proceed. So long that I thought it did not make it, hence by retrying I ended up staking twice the amount I initially wanted. Hopefully, it is rather easy to transfer stake, even with partial amounts:
Click on the "Transfer Stake" button, choose the SSN from which you want to transfer and the one to which you want to transfer:
You'll have to wait a bit though otherwise, you'll end up with this error when trying to transfer your stakes:
You have buffered deposits in the selected node. Please wait for the next cycle before withdrawing the staked amount.
So now I just need to wait for my first rewards :)
