Can someone advise me in steps how to start baking my Tezzies? Also what is the difference besides the % paid in chosing a baker? Is one baker safer than another?


#1

Can someone advise me in steps how to start baking my Tezzies? Also what is the difference besides the % paid in chosing a baker? Is one baker safer than another?


#2

Hello, to start baking, you can delegate your tezzies to a delegation service such as ours. You would need to delegate from a KT1 address, and you can create that from your digital wallet - there are a few to choose from - Tezbox, Galleon, Kukai to name a few. Once you do that, you can choose a delegation service, input their public key hash or TZ1 address and delegate/start baking. These links may be helpful to you too:
https://www.mytezosbaker.com/ - list of delegation services
https://www.tezos.community/guides - how to create a wallet and assign your tezzies to TC.
Hope this helps!


#3

You may want to have a look at the links in this post on reddit
Help to more specific questions, here, on Reddit or on Riot channels


#4

Thank you your advice worked well! :slight_smile:


#5

Thanks the setup went well!


#6

Okay so I actually recieved my tezzies from the ICO wallet, created a K account and tried to delegate. I actually delegated three time to three different delegates by mistake because I did not know where to check to see if the delegation was a success. Now when I check the TZ Scan under delegates I see all three attempts, what time and block it was requested but on the homepage of the TZ Scan on the right I don’t see the 10,000 Tezzies allocated as baking. My first question is:

  1. Is it a problem that I delegated more than once?
  2. If it is a problem, how do I remove or stop two of the unneeded delegations?
  3. When will I start to see the progress of the baking?
  4. When will I receive the rewards?

#7
  1. No. You cannot delegate more than you have.
  2. Don’t worry about it.
  3. Due to network rules, you’ll have to wait 7 cycles (approx. 21 days) before your XTZ are counted within whomever you delegated. We just started cycle 32 (2d 13hr remaining). After that “timeout” period, your delegated XTZ will be available as staking balance to the person/group.
  4. Rewards are not paid directly to you by the network. The network pays rewards to the primary baking address. They will then disperse rewards to all who are staking to them based on their own rules. Rewards are not unlocked by the network until 5 cycles have passed. I would not expect to “see” rewards transfered to you for at least a month.