How to stake your ADA

To stake Cardano (ADA), you need to install a Cardano Wallet first. A Cardano Wallet is software that is secured by several passwords and recovery sentences and enables the Cardano owner to “store” their ADA outside of cryptocurrency exchanges.

Once the wallet is installed, you buy ADA at an Exchange such as Binanace, Coinbase or Kraken and transfer it to you wallet.

Once the ADA is in your wallet, you can choose to delegate (Stake) it to a Stake Pool. We of course suggest using CAPEX or CAPEY

Yoroi Wallet

Yoroi is a light wallet for the Cardano network. This means it is easy to install, quick to set up, and it does not require a full copy of the blockchain.

You can download Yoroi from the official Emurgo Yoroi wallet website.

Yoroi can be installed as a plugin to the most used browsers (Chrome, Firefox, Edge) or as an app on a phone of tablet (iOS or Android).


Daedalus Wallet

The Daedalus wallet is a full node wallet, developed and deployed by IOG. Because it runs a full cardano node in the background, it will take some time to set up, but it will always be the first wallet to come with new features and development.

You can download the Daedalus wallet here

We suggest this link for detailed instructions on how to install the Daedalus wallet

Security

For both Wallets, make absolutely sure you store your passwords and recovery phrases in a save place, preferably offline. Old fashion pen and paper is strongly preferred, since that is very hard to hack!

Without your recovery phrase there will be no way of recovering your wallet and thereby your precious ADA!

To be continued....... Thanks for your patience!