How to delegate your Tezos?

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Explanations

This step-by-step guide will allow you to delegate your XTZ (tezos) – the native asset of the Tezos network – to Coinhouse in order to benefit from a passive income of between 6% to 7% annually in XTZ, without any risk of losing your tezos capital.

Tezos is a public blockchain network that implements Proof-of-Stake rules to ensure its security. Participants, either directly or indirectly, are paid through the creation of new tezos that are automatically sent to them every three days. 

Participating is a simple process that takes 5 to 10 minutes of your time to set up, no maintenance is required afterwards. 

This is a new form of savings, without going through a financial institution, which rewards you for participating in securing the Tezos network. 

Follow this simple guide to make the most of your tezos and contribute to the good health of this promising network! Welcome to the new economy!

Be aware that Tezos is a promising project but still a young one. This can be seen as an opportunity with a good risk/reward ratio. However, there is no guarantee on the tezos value going forward and the volatility is high. 

Good to know

  • You retain full control over your funds, under no circumstances can they be recovered by Coinhouse. 
  • Our fee structure is one of the lowest in the market (8% compare to the average of 10%). We charge these to pay for node maintenance and server cybersecurity.
  • Your funds are not blocked, you can sell or send some or all of them at any time. The rewards you receive are automatically recalculated without any intervention on your part.
  • First payments will be made ~21 days after setting up the delegation. This is due to the functioning of the Tezos protocol. 
  • Payments are made every three days directly on your Tezos address. This allows for good compound interest.

Delegate with Ledger

Delegate without Ledger

How to earn on your tezos via Ledger wallets

Make sure the latest firmware is installed. To do this, open Live Ledger, then go to Manager. A window at the top of your screen will tell you if an update is required. 

Install the Tezos Wallet application

Go to Manager tab in Live Ledger.

Connect and unlock your Ledger device.

If the application asks you to, allow the manager on your device.

Find Tezos Wallet in the application’s catalogue.

Click on the Install button of the application.
1. An installation window appears.
2. Your device will display “Processing……”
3. Installation of the application is confirmed

validation Ledger

Creating a Tezos wallet

Now that you have installed the Tezos Wallet on your Nano Ledger S or X, you are ready to create a wallet. Here are the steps to follow with TezBox.

You can download TezBox for Mac or Windows, use their Chrome plugin, or use their wallet directly in the browser! We will focus on using the browser in this guide, but the steps would be the same if you decided to download the applications on your computer.

Step by step

  1. Visit the Tezbox Web interface using a compatible browser such as Chrome, Firefox or Opera. Here, you will be presented the options of either creating a new wallet through the web app, restoring a wallet with a seed phare or linking TezBox to a hardware wallet.
    • Connect your Ledger device and open the Tezos application. You see “Use wallet to view accounts” on the screen of your Ledger.
    • On the web interface, click on Use Ledger/Trezor.

 2. Click on Connect Account in the following web page.

Connecter les comptes

3. On your Ledger device, your public Tezos address will be presented to you. It begins with tz1 and is called Public Key Hash. Press the right button on your device to confirm it. TezBox will confirm a successful connection after this step.

Vérification adresse

4. Next, you will be asked to create a password to secure your wallet. After choosing one, click on Encrypt Wallet. This password is simply used to secure the web interface but is not required to access your wallet if you forget it.

Sécurisation

5. After entering a password, you will be taken to your wallet dashboard, where you can receive, send and delegate tez. 
In order to send the reception address to your Premium Advisor, or to send yourself tezos via another means, click on the “copy and paste” icon to the left of your reception address:

Réception

6. Once the tezos are received, click on the delegate tab and select Custom, copy and paste the Coinhouse Staking Service address of the into the Custom Delegate field.

The address is: tz1dbfppLAAxXZNtf2SDps7rch3qfUznKSoK

Then click on Update Delegate. You will then have to confirm the transaction on your Legder device. Check that the information displayed on it is correct and confirm by right-clicking on the device as many times as it asks to. 

Délégation

And that’s about it!  You can check that the transaction has been completed by checking your receipt address on tzstats.com

You can now fully benefit from your new passive income using the Tezos protocol.

How to earn on your tezos via the Tezbox web wallet

Installer l’application Tezos Wallet

  1. Clic on Create New Account.
Creation compte

2. Write down the 15-word sentence displayed on a non-digital support that you will keep safe. 

Be careful, this sentence, also called seed, is the master key of your Tezbox wallet, if you were to lose access to your Tezbox, it would be the only way to get your tezos back. If someone had access to this sequence of words, that person would also have access to your assets. 

The passphrase is an additional password added to the seed. This makes the seed less vulnerable but it will then be absolutely necessary to have the seed and passphrase if you were to have to recover your wallet in the future.

Seed

3. Write down your seed in the field provided and the passphrase if you have chosen to use this option and click on Create New Account.

Validation

4. Next, you will be asked to create a password to secure your wallet. After choosing one, click on Encrypt Wallet. This password is simply used to secure the web interface but is not required to access your wallet if you forget it.

Securisation

5. After entering a password, you will be taken to your wallet dashboard, where you can receive, send and delegate tez. 
In order to send the reception address to your Premium Advisor, or to send yourself tezos via another means, click on the “copy and paste” icon to the left of your reception address:

Transmission

6. Once the tezos are received, click on the delegate tab and select Custom, copy and paste the Coinhouse Staking Service address of the into the Custom Delegate field. 

The address is: tz1dbfppLAAxXZNtf2SDps7rch3qfUznKSoK

Then click on Update Delegate

Delegation

And that’s about it!  You can check that the transaction has been completed by checking your receipt address on tzstats.com

Delegation

You will then see the address of the Coinhouse Staking Service as Current Delegate on the right side of the dashboard.  

You can now fully benefit from your new passive income using the Tezos protocol.