Cardano (ADA)
Step 1 - Downloading the Yoroi Wallet
Navigate to the Yoroi Wallet website and choose the version that's right for you, either for a browser extension or mobile app. Download and install.
Step 2 - Set Up or Import a Wallet
Upon launching Yoroi, you'll have two options:
- Create a New Wallet: For those starting afresh.
- Import an Existing Wallet: For those who've previously created a wallet.
Step 3 - Wallet Details
Fill in the required information for your wallet:
- Name: Give your wallet a unique name.
- Password: Choose a strong and secure password.
Step 4 - Backup Your Recovery Phrase
Once your wallet is created, Yoroi will provide you with a recovery phrase. This is essential for recovering your wallet if you ever lose access. Ensure you:
- Write down this phrase.
- Store it in a secure location, away from prying eyes.
Step 5 - Transfer ADA to Your Wallet
To stake ADA, you first need some ADA! Transfer your ADA from another source or exchange to your newly created Yoroi wallet address.
Step 6 - Delegating Your ADA
Within your Yoroi wallet:
- Navigate to the Delegation section.
- Here, you'll find a list of available stake pools. Browse and choose a suitable stake pool based on factors like performance, fees, and more.
Step 7 - Begin the Delegation Process
Once you've chosen your stake pool:
- Click on Delegate next to the pool's name.
- Specify the amount of ADA you wish to delegate.
Last step - Finalize Delegation
Review your delegation details and:
- Click on Delegate to complete the process.
- You'll receive a success notification once your ADA is successfully delegated!
And there you go! You're now staking ADA on the Cardano network via Yoroi. Remember, staking is a great way to support the network and earn rewards, but always do your own research when choosing a stake pool.
