Updated: Mar 22, 2021
How to delegate with Black Box stake pool and earn rewards:
Step 1: First you need to purchase some ADA, Cardano’s transferable coin, from any reputable cryptocurrency exchange. Please note, cryptocurrencies are a volatile form of investment. While Black Box can generate rewards on your investment through delegation, significant price fluctuations can occur frequently.
Step 2: The next step is to download the Daedalus wallet. Daedalus is a proprietary wallet developed by IOHK, which is the company that built the Cardano network. It is available for Mac, Linux and Windows. Download Daedalus at daedaluswallet.io/en/download/ - Please ensure you only download the Daedalus wallet from the official source.
Step 3: Once you install Daedalus and open it you will need to create a wallet. This is where you can name your wallet and set up a spending password, you will subsequently need that password anytime you want to validate transactions.
Step 4: You will then be directed to the recovery phrase of your newly minted wallet. This is where you write down 24 words that are shown in exact order and keep them somewhere safe. Please be aware that there is no password reset through email, so you need access to this recovery phrase if you lose access to your wallet, otherwise you can never recover it. It will take an hour or two the first time you sync Daedalus to the network, however, this is a one-time occurrence. Subsequently it should only take minutes or seconds to reconnect. Once you have fully synced Daedalus with the blockchain, you are ready to use your wallet.
Step 5: Next you need to send your ADA from the exchange to your newly created wallet. To do this, click on the receive tab and this will open a list of receiving addresses for your wallet. Click on one of the receiving addresses and copy it. Find the option on the exchange’s website to send your ADA and enter the address you just copied. Click confirm and your ADA should then appear in your wallet shortly after.
Step 6: Once your ADA is visible in the Daedalus wallet this is where Black Box comes in. Click on the network icon in the Daedalus wallet. This will open the tab that displays the various stake pools. Now all you need to do is search for Black Box by entering our ticker “BLKBX”. Simply click confirm and enter your spending password.
That’s it! You are now delegating your ADA and earning rewards!
Rewards are automatically paid to you nominated wallet. Click on the rewards tab in the delegation centre to see your rewards.
Delegating your ADA to a Black Box is 100% secure. The delegation mechanism allows you to have full control over your funds. You delegate only your right to participate in the protocol producing blocks.
If you have any questions, please see our FAQ section on our website www.blackboxpool.io
or email us at firstname.lastname@example.org and we are more than happy to assist.