How to Stake ICP - Staking on the Internet Computer (BEGINNERS)

[@VGTW]

VERY IMPORTANT POINTS: 1. Once you set your dissolve delay, you will keep your previously accumulated age bonus and matured ICP but you will also permanently lose your future age bonus potential in that specific neuron. Even if you stop dissolving the neuron. 2. Rewards are not earned for the last 6 months of staking. (This was covered in the video). Best way to stake in my opinion is to stake for 1-2 years and don't dissolve so you keep your age bonus. The rate of return may be less than if you staked for longer, but you also have the opportunity to dissolve your ICP in a shorter period of time so you are ready to sell when $ICP skyrockets.

[@BlockchainPill]

Great points, thank you!

[@VGTW]

​@@BlockchainPill Thanks! I should also add point #3 which you covered. 3. To earn staking rewards you need to either: Follow another neuron's votes, or Manually vote on each proposal yourself. Make sure the neuron that you follow is actively voting on all proposals to maximize your rewards. It is possible to follow multiple neurons for voting, this will increase the likelihood that you will not miss any proposal votes.

[@BlockchainPill]

​@@VGTW And I think it goes even more in-depth: If you follow 4 other neurons and 2 vote 'YES" while the other two vote "NO" your vote will not be cast (because you don't have a majority vote in either direction). I don't think it has ever happened to me, but it's a theoretical possibility. I remember reading it somewhere, but I'm not 100% sure. Can anyone confirm this?

[@VGTW]

​@@BlockchainPill Very interesting, i was not aware that votes could potentially be cancelled out. I was also curious on how each followed neuron vote is weighted. Does the first followed neuron get the most weighted vote influence? Or are all followed Neurons equally weighted with your delegated voting power? If anyone can also confirm this it would be appreciated.

[@BlockchainPill]

@@VGTW To my understanding it's the latter That would make a great question for the DFINITY forum 👍

[@LoungeWLT]

Thats how a tutorial is done, organized quick facts and on point. Well done.

[@RUCKMAN123]

This channel will be massive in the future.🎉

[@BlockchainPill]

I appreciate it!

[@VGTW]

This was very informative and straight forward. This video will really help those that are new to the Internet Computer. I remember staking my ICP in the NNS for the first time and thought i didn't need to set a dissolve delay, a few months later i noticed i was collecting rewards but my 8 year timeframe was unchanged. Thanks for covering this!

[@BlockchainPill]

Glad you enjoyed this episode! 💪 Yeah, happened to me as well!

[@VGTW]

@@BlockchainPill Your channel is the best when it comes to professionally covering Internet Computer related content. There's new updates and various breakthroughs almost daily in the ICP Ecosystem. Its one of the most actively developed blockchains in this bear market. I cant see you running out of things to cover!

[@petersmith6798]

Took me 2 years. Staked for 2 years back in 2021. Wondered why still locked up. Now waiting another 2 years. At least should be unlocked by 2025 . Live and learn 🤷

[@BlockchainPill]

@@petersmith6798 Oh no! Live and learn indeed 😁

[@loctvuong]

So if i staked my ICP for 2 years, and wanted to get the age bonus when should i start dissolving?

[@christophbaluch2293]

Best Information ever!... Please more contant like that....🎉

[@BlockchainPill]

I appreciate it, thank you!

[@Deplorable_Me_UK]

Cheers champ. I'm in for 8 years. I love it.

[@BlockchainPill]

Let’s go!! 👏👏

[@petersmith6798]

Need video on maturity and automatically staked maturity and how it works. Nice video 👍

[@BlockchainPill]

Thanks for the suggestion!

[@BinanceStuff]

@@BlockchainPill yes what do i do with this maturity 1.18?

[@Cryptiffy]

Excellent🔥🤝🏻

[@komandotangguh8469]

so whats exactly the use of solving delay bro? thanks

[@Totalmesss]

100% que es tuga! 😁Bom conteudo btw, keep it going ehehe

[@gongasssss3964]

Também acho

[@silverforex4335]

Best channel

[@BlockchainPill]

I appreciate it! 🙏

[@THEALLIANCEZERG]

Can you do a video on how to add funds to trade on ICP?

[@BlockchainPill]

Hey! For sure 👍

[@quarantology33]

Will I continue to earn rewards during the dissolve phase?

[@BlockchainPill]

Until you go below 6 months you'll keep earning rewards, yes. When the neuron is dissolving it doesn't accumulate "Age Bonus" which increases its yield in time.

[@FiendishSpirit]

4:20 what if I stake for 8 years and dont click on start dissolving? Does that mean after 8 years I will not have access to my ICP and have to disolve it and wait another 8 years? So 16 years in total? Aren't the staked ICP for 8 years supposed to be unstaked after 8 years automatically? Why do I have to click on that button? They say it lower your age bonus. I dont get it

[@BlockchainPill]

Staking your ICP puts it into a ‘non dissolving’ neuron of the amount of time you select. The neuron is receiving age bonus as long as it is not dissolving, increasing its apr % For it to start dissolving you need to click on ‘start dissolving’, and you’ll no longer get extra aging bonus (as it’s not aging anymore), but the countdown to releasing your staked ICP begins 👍

[@FiendishSpirit]

​@@BlockchainPillthanks for your informative response. I been staking ICP for 5 days, got lot of voting history but no rewards yet? Am I am staking 3k+ ICP for a year

[@BlockchainPill]

@FiendishSpirit you’re welcome! You should see the rewards inside your neuron as “maturity”. You have two options: Either compound it or collect it (which will create a 7-day dissolving neuron, after which you can disburse the newly minted ICP to your wallet)

[@FiendishSpirit]

​@@BlockchainPillit's at zero bro. No maturity

[@FiendishSpirit]

​@@BlockchainPillI dont get maturity from ICP staking at all. It's at zero.

[@meaversand]

if I understand staking you lock up your coins for a period of time the disadvantage I see, if price goes up significant to a point I feel selling ( perhaps buying back later) on cant sell because loose your rewards, am I right BTW: I am not sure why I should vote , whats the advantage? thanks

[@Whagmanz]

So if i follow neurons, i don't have to vote myself to earn the staking rewards? What happens if i don't follow all neurons?

[@smokinghazards123]

Hi, is there simpler way to stake Icp? Like just hold it in certain wallet and it gets you rewards? I also noticed not many wallets are supporting ICP deposit

[@BlockchainPill]

This method is pretty straightforward. The Internet Identity is like a wallet 👍 Where are you encountering any difficulties? Maybe I can help you out

[@arnevrehus8159]

How long does it take see our staking grow?

[@123benjah]

you said you can create a recovery phrase. but I didn't see you do it. how to ? thanks

[@BlockchainPill]

You can create a recovery phrase on identity.ic0.app

[@elchingon3546]

ICP ❤❤❤❤

[@pfeffeldjanie6514]

On idgeek: Is the est value of linked assets include the future ICP maturity or only current earned asset? Thanks.

[@BlockchainPill]

Maturity is not counted as far as I know

[@abdelhalimcherigui1686]

I have 2 questions: 1) if the Apy is at approximately 10 % can you explain why the supply made 2x from 166m in September 2021 to 442m in September 2023 ? 2) what we expect for the supply in 2026

[@BlockchainPill]

The APY in the NNS is ~17% for 8 year locked neurons, and it used to be around 20% I think they changed what was considered circulating supply to include the ICP locked in the NNS (used to be counted in the total supply before), hence the big jump in supply As soon as we get a killer dApp that will get massive amounts of users to ICP, we’ll see the trend shift to deflationary

[@sy000616]

Hi, two questions, Where to see that APY% I cound't find it. 2. Where to look aging bonus? how many %? Thank you.

[@BlockchainPill]

You can find the APR % (and age bonuses) on dashboard.internetcomputer.org/governance

[@taiphan8676]

what if i locked up for 8 years then during 8 years i change my mind i want to sell all. how can i un-staking it and move my tokens to exchange to sell them all.

[@BlockchainPill]

If you locked for 8 years, you’d have to wait 8 years to get your tokens back once you change your mind. That being said, you can sell your Internet Identity (with your locked ICP) on ID Geek. 8-year locked usually sell for a ~25% discount

[@taiphan8676]

@@BlockchainPill thank you if i knew this before i would not lock it for 8 years

[@alizeriancrimson5692]

So if you are intending to stake and want to add to your position, buying the existing stake for a discount is enticing, but how would you secure the asset? the initial staker would have a copy of the seeds..

[@BlockchainPill]

You buy the Internet Identity off of ID Geek and you generate a new seed phrase once you transfer it to your PC. It’s 100% safe. We’ll make a more in-depth video on the whole process.

[@alizeriancrimson5692]

@@BlockchainPill Thank you for the quick reply🙏

[@BitcoinRenegade]

Hey bro big fan of the channel here and I would love to talk about a collab and discussion sometime about ICP

[@BlockchainPill]

I appreciate it, Renegade! Sure, let's connect 💪

[@Brumbie68]

Can any one please tell me how to set up the recovery phrase or a link ..

[@BlockchainPill]

Go to identity.ic0.app/ which is the Internet Identity dashboard, and you should see that option at the bottom of the page

[@BinanceStuff]

My maturity says 1.18 - what are you supposed to do with that? it says I can stake or spawn the neuron?

[@BlockchainPill]

If you want to redeem the maturity as ICP, click on spawn neuron If you want to compound it to your neuron, click on stake

[@anabivol5579]

HI! Could you make a video how to connect me to NNS Dapp from a new device? And if you lose the device on which you registered on NNS Dapp,then you have lost your ICP? THANK YOU!

[@BlockchainPill]

Hey! Thanks for the suggestion 👍 You would need either the old device or the Identity Anchor + secret phrase to log into the NNS on a new device

[@scottsayer6012]

Great job

[@sergente1]

If i put a 100 icp on 8 Years and start dissolve i should get 1 icp per month,is maturity and voting another bonus or That’s it

[@lon2810]

Im in California, where there's restrictions with staking since June of this year, do you know if that includes staking my ICP in NNS?

[@binkydamauler]

no. I'm in California and stake ETH on coin base wallet and ICP on nns

[@neil8572]

How to transfer my icp from binance please help what network should i put

[@BlockchainPill]

The only one available - Internet Computer

[@chrissanchez882]

I get a higher % with staking DOT and can lock as long as I want with an unstaking period of only a month. I like ICP but that APY should be higher.

[@BlockchainPill]

Nice! Where are you staking it?

[@chrissanchez882]

@@BlockchainPill Nova Wallet

[@InfinOrb]

Is it not better to lock for 4 years to get age bonus and then start dissolving after 4 years to make it 8 ?

[@WestCoastFront]

Ok so I have 33 and counting for 8 years stake. Once I hit 8 years, click on dissolve and it will take 8 years to receive?

[@WestCoastFront]

Once 8 years comes and click dissolve, it will take 8 years to dissolve?

[@BlockchainPill]

Yep, that is correct 👍

[@danny2shoes]

Great video! 1) What is "top-up Neuron" where it looks like they took 10 icp five times. One for each staking pool i have? 2) Do you need to do anything with the staking rewards? I have some icp matured. It shows im automatically staking new maturity so do the rewards automatically go back into my neuron staking? Is there a way to see that it is going back into my staking pool?

[@sterancobeatz3625]

Who is best to contact for help?

[@BlockchainPill]

Help for what?

[@sterancobeatz3625]

@@BlockchainPill So, long story short, I tried to stake some of my ICP on the NNS through my ledger hardware wallet. After I approved the send with the ledger wallet, it asked me to set up a HotKey or skip on the NNS. I skipped. Now, when I try to see my Neuron to stake by clicking "show neurons", I get this error message. "There was an error with the hardware wallet. A ledger error happened during signature. "Data is invalid : Unexpected value" (code 27012)." I decided to try again with a smaller amount and include the hotkey this time after some research. Now the small amount populates in the neuron staking section of the NNS. But, the first larger amount is not in there. And if I go to tokens and hardware wallet connected, then try to "show neurons" | still get the same error. Any ideas?

[@sterancobeatz3625]

@@BlockchainPill I tried to stake some of my ICP on the NNS through my ledger hardware wallet. After I approved the send with the ledger wallet, it asked me to set up a HotKey or skip on the NNS. I skipped. Now, when I try to see my Neuron to stake by clicking "show neurons", I get this error message. "There was an error with the hardware wallet. A ledger error happened during signature. "Data is invalid : Unexpected value" (code 27012)." I decided to try again with a smaller amount and include the hotkey this time after some research. Now the small amount populates in the neuron staking section of the NNS. But, the first larger amount is not in there. And if I go to tokens and hardware wallet connected, then try to "show neurons" I still get the same error. How do I fix it?

[@ngmadngmadovic6796]

I staked on my smartphone, but when I try to log in my acc on CPU I am asked to enter a security key... What to do in this spot?

[@BlockchainPill]

Can’t you import your internet identity using your seed phrase?

[@ngmadngmadovic6796]

@@BlockchainPill no, I've got a request from windows security to put security key in the USB port... wtf?? It's a test to see if it's really me.

[@edgarlopez5590]

How do i unstake my icp?

[@BlockchainPill]

You need to start dissolving the neuron you created when you staked it 👍

[@HooriaEmaan-h7o]

nice

[@BlockchainPill]

Thank you!

[@emanifestation804]

Wouldn't it be more profitable to re- stake every 6 months? With 8 yrs you get 16% but every 6 months you get 9% so that's 18% a year and 144% for 8 yrs

[@BlockchainPill]

APR means - annualized percentage rate 9% APR is still per year. So staking it 2 times would get your 9%, otherwise just 4.5% (because you staked it for half the duration)

[@rogerhughes2242]

Too complicated, Firefox wants me to set a usb key when I click on create an identity.

[@k.heidari5260]

you should have mentioned that staking for 6 months gives you zero rewards

[@BlockchainPill]

I think it does give you around 8% if you stake for 6 months. When you start dissolving and you’re below 6 months it stops giving rewards, you’re correct 👍

[@garage66sport48]

hello i follow you in the video. I staked for 1 year, i choose definty, internet associationand and other for voting, i click start dissolving, and put automatically stake matuity, but in 7 days in maturity show 0, staked 0,available 0. I did something wrong,why i stll receiving 0. thanks.@@BlockchainPill

[@alejandrogisbert6644]

@@BlockchainPill so that means they must be blocked for min 1 year? 6months staked + 6 months dissolving?

[@lutaayam]

Sounds like there’s lots of gotcha moments

[@hjlpoppp]

I would not recommend losing your ICP to these websites, whats stopping them from being shut down by regulators or them just stealing your money or them not managing their portfolio and go belly up

[@BlockchainPill]

What websites are you talking about?

[@hjlpoppp]

@BlockchainPill im referring to staking sites, always keep hold of your assets never give away ownership.. remember the celsius network, 3AC,Voyager Digital,StakeHound and FTX Blocfolio just to name a few where stakers lost millions...just stop promoting this shit without a waiver man

[@congvovan8329]

Icp trên 200$

[@kelvinbroadnax8265]

I hate that this has a minting protocol smh when you can just create a deflationary asset immediately out the gate and make it easier for the coin to move in the long term. I don’t like that

[@gio957]

Why would you lock your money away when we're approaching a bull run 😂?

[@BlockchainPill]

There's a guy who staked 5 million ICP that's making 2500 him ICP/day in staking rewards. Some people don't really care about selling in a bull market and buying back lower.

[@pevedevdenzel8051]

Just locking for 1 year

[@simonbottrill]

Because many of us are investors and have no interest in the bull run. You make a lot more in the long run buying cheap assets now and holding them. Think 2012 when BTC closed at 13.45... look how cocky people got when it soon went up to 1100 + and they sold thinking they were a genius...now imagine if they ignored all the bull run rubbish and how much they'd have now in 2023...they'd be multi millionaires instead of a quick few grand and still working a 9-5...so your comment with this emoji (😂) actually proves your a newbie who doesn't understand what crypto and investing is. Forget the bull run..be an investor not a gambler. It's good advice, take it or leave being rich to those who understand it

[@wowduniahindi636]

​@@pevedevdenzel8051 How many?

[@peaceoutfar]

I’ve had coins staked for multiple years which now pay big money daily. 50% stake, 50% liquid for projects you trust.

[@alexandermendez966]

bs you hit dissolve you wont get rewards youre not suppose to dissolve until 8 years for max rewards

[@BlockchainPill]

I think you only stop receiving rewards when the lock time is below 6 months

[@alexandermendez966]

@@BlockchainPill welll duh 6 months of dissolve delay only gets you 8 percent thats good but tp get max rewards set dissolve delay for 8 years dont listen to this guy

[@Posavina985]

So it means i will earn nothing 😂

[@otboakye]

Slow it down next time. U click too fast. Good content but ended up being harder than necessary

[@BlockchainPill]

Thanks for the feedback! Will do it a bit slower in the future 👍

[@mijrah]

This staking is con, basically no rewards for 6 month of staking.

[@BlockchainPill]

There are talks about reducing that duration to 3 months

[@reggieregg3799]

This is one complicated process 🤦🤦

[@BlockchainPill]

It’s really not! I’ll do an update video soon 🙏

[@calvinhill7425]

Don’t do it

[@neil8572]

Why

[@JMomma.]

Please those rewards can i take them out and have passive income every month? Like salary

[@BlockchainPill]

Yes, you can take them out daily. Each day you receive a locked neuron that you can start dissolving to get the ICP inside. The dissolving lasts 7 days, and then you can disburse the ICP to your wallet