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What is baking/delegating Tezos?

How to bake Tezos?

How to bake/delegate Tezos

-Easy Tutorial-

This website gives you a brief overview on how to bake/delegate your Tezos (XTZ).

Additionally you get infos on how to bake/delegate using your hardware wallet (e.g. Ledger).

What is baking Tezos?

Tezos uses a proof-of-stake protocol. This mechanism secures the network, like the known mining with Bitcoin.

The difference between mining and baking is that your power does depend on the amount of Tez you hold not on the hardware power you have.

Like with mining you will be rewarded to participate in the proof-of stake mechanism with Tezos tokens depending on the amount you bake or delegate.

How to bake Tezos?

Baking on your own:

You can bake on your own by setting up a node and having at least 10,000.00 Tez.

Baking by delegating your baking rights:

The securest and easiest way to take part in the baking process is to delegate your baking rights.

Please note to not send your Tez to someone else. You only send your baking rights to a delegation service. Your tokens will stay on your wallet.

How to bake/delegate from your Ledger hardware wallet.

Hardware wallets look like USB devices and contain your private key securing them by a closed environment, not connected to the internet. Storing your Tezos private keys on a hardware is the safest way to save your Tez. .

Delegating makes it possible to keep your Tez on your hardware wallet, not connected to the internet and participate in the baking process.

As described above for delegation there is no need to send your Tez somewhere only your delegation rights

Find the tutorial video on “How to store and delegate Tezos from your Ledger” on this site.

Go to Ledger.com

 

How to find a delegation service

There are several delegation services out there. Please do your own research on the specific service.

Below you find a list of community trusted delegation services.

What is good delegation service

Trust

A good delegation service is first of all trusted.

If you delegate your baking rights the reward will be distributed to the baker (in this case the delegation service.

The provider has to send the baking reward (minus the applied fee) back to you. That means that you have to trust the delegation service.

Fees

Every delegation service takes a fee for its service. Choose the delegation service with the best fee structure for you.

Overdelegation

Depending on the service's baking bond (amount of Tezos he is actually baking with) the delegation service can accept only a limited amount of Tez via delegation.

Overdelegated delegation services will not receive rewards for the overdelegated amount of Tez.

List of community trusted delegation services.

Please do your own research on whether the service is trustworthy and not overdelegated.

Tezzigator

Delegating Tezos via Tezzigator.com

Tezos Community

Delegating Tezos via Tezos.community

TEZ Rocket

Delegating Tezos via tezrocket.com

add your delegation service

contact us for adding your delegation service

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