How to Stake/Delegate (Step-by-Step Guide)
Updated: Apr 5
1. Install Yoroi wallet
- Visit the Yoroi Chrome extension page and download the Yoroi wallet 👇
- Open Yoroi by clicking the icon at the extension bar of your Google Chrome 👇
2. Create a wallet
- Click "Create wallet" 👇
NOTE: If you have a hardware wallet, then click "Connect to hardware wallet"
- Choose "Cardano" 👇
- Click "Create Wallet" 👇
- Choose your wallet's name and spending password and put it somewhere safe 👇
- Write down your recovery phrase. Put it somewhere safe. ⚠ IMPORTANT: Your seed phrases are the most important thing. ⚠ DO NOT lose it or give it to someone else! ⚠
- Verify your recovery phrases 👇
- Click "CONFIRM" 👇
- Congrats! You have successfully created your Cardano wallet on Yoroi 🎉🍾🎊
3. Withdraw your ADA from an exchange or transfer your ADA to the newly created wallet
- Click the "Receive" tab
- Copy your wallet address 👇
NOTE: After copying your address, use this address to transfer your ADA from the exchange wallet or your other wallets to your Yoroi. You can also generate as many addresses as you want. Those addresses will always be associated with your wallet.
- After receiving your ADA on your wallet, you can now begin the staking/delegation process
NOTE: You need as little as 10 ADA on your wallet to be able to stake/delegate to a stake pool and there's no maximum amount.
- Now click the "Delegation List" tab 👇
- Go to the search bar, type-in "cardanesia" and press enter 👇
- Click the "DELEGATE" button 👇
- Enter your spending password and click the "DELEGATE" button 👇
- Done! You have successfully delegated your ADA to Cardanesia. Wait about 5 minutes while waiting for your staking address to be registered on the blockchain. Now you just need to sit back and relax while waiting for your first reward 👇
NOTE: You will receive your first reward after a minimum of 3 epochs (15 days) after you delegated to a stake pool. Afterward, you will receive your reward every epoch (5 days) as long as your chosen pool minted at least 1 block in the epoch. Check the diagram below!
5. Check your reward
- After the pool produces blocks at the 3rd epoch (see above diagram), you will receive your first reward on the 5th epoch. To see your reward, go to "Dashboard"
- Scroll down and you'll see the information for the upcoming reward schedule and the amount of reward you receive each epoch. 👇
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