TezBox Staking Guide For Desktop and Ledger Nano S. Part 1
It’s been more than a week since the Babylon update which has brought many positive changes to the network. It has also impacted the blockchain community, attracting more people to the Tezos ecosystem. At the same time, the new update has left many people questioned regarding the staking process.
After reading this comprehensive guide, you will be able to stake your TEZ using the TezBox wallet on your desktop. And in case you want to stake using your Ledger Nano S, please refer to our second TezBox Guide for Ledger.
Step 1: Register An Account At Everstake.one
Our service provides comprehensive analytics for staking operations, and in order to start delegation for Everstake open our website and from the dropdown menu choose ‘Tezos’.
When you will be transferred to the dashboard, click on the ‘Sign Up’ button.
Enter all necessary information and confirm your registration through the email.
Log into your account and in the left dropdown menu choose ‘Tezos’.
In the next section, you will have to use the Everstake Delegation address for staking shown on the screenshot below.
After the TezBox installation, you need to add your Tezos address in the dashboard, so that you can receive block rewards.
Step 2: TezBox Desktop Staking
In case you are just starting out with TEZ staking, head to the official TezBox website, download, and install the wallet.
If you are using the Ledger Nano S, then skip this section and head to the Part 2.
We’d like to emphasize the fact, that after the Babylon update users won’t be able to create old originated accounts (KT) for staking, instead, everyone can delegate their TEZ directly from implicit accounts (TZ).
After the TezBox installation, accept the Terms and Conditions and click on ‘Create New Account’ or ‘Restore Existing Account’.
Generate a seed phrase and save it in a safe place. Moreover, you can choose an optional password, which increases the security of your account.
Confirm your seed phrase and the password if you chose one.
Then you have to set a local password for your account. This type of password will NOT be used for account recovery.
Once you create an account, use your TEZ address to make a deposit.
After you make a deposit, click on the ‘Delegate’ button.
You can choose one of the available delegates from the dropdown menu.
Choose the ‘Custom’ delegate and enter a delegation address, which can be found in the Everstake Tezos dashboard.
The network doesn’t require fees for delegation now, so we recommend setting fees to 0 by clicking on the ‘Fee Options’ button.
Confirm your delegation by hitting the ‘Update Delegate’ button, and moreover, take some time for delegation activation.
You can also refer to the TZTracker blockchain explorer to verify your delegation by entering the wallet address on the website.
Once the wallet address is entered into the search bar, choose the ‘Delegation’ section and verify all details.
If it’s your first delegation, please allow up to 7 cycles to receive rewards.
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