Cardano
How to stake Cardano (ADA) via the Yoroi browser wallet
In this guide, we will tell you how to stake Cardano via the Yoroi browser wallet.
JAN 20, 2021
Yoroi is a light wallet for Cardano, a product of Emurgo, one of the companies behind the Cardano development. Yoroi has versions for browsers (Chrome, Brave, Edge, Firefox) and mobile (iOs, Android). In this guide, we will tell you how to stake Cardano via the Yoroi browser wallet. Read more about What Cardano is and How it Works.
How to install Yoroi browser wallet
Go to the official Yoroi website and choose your browser. If you want to use Yoroi on the Brave browser — choose the Chrome option.
After the installation of the browser extension, choose your language and agree to the “Terms of Use”. Then select “Simple” mode if you are a newbie or “Advanced” mode if you have blockchain knowledge.
You will see the options to Create a wallet, Restore a wallet, Connect to a hardware wallet, and transfer funds from a Daedalus wallet to Yoroi.
How to create a Cardano wallet on Yoroi
Click “Create wallet” and select “Cardano”, then again click “Create wallet”.
Choose your wallet name, spending password and click “Create personal wallet”
Then you will see the “Recovery phrase” window, and after you click “Continue” — you will see a set of 15 random words. This is your wallet backup phrase. In the future can be entered in any version of Yoroi to back up or restore your wallet’s funds and private key. Please remember that this is very important information so keep it secure.
Please, make sure you have carefully written down your recovery phrase somewhere safe. You will need this phrase to use and restore your wallet. The phrase is case sensitive.
Then you will need to confirm your recovery phrase in the same order as it appeared in the previous window.
After confirming that “I understand that my secret keys are held securely on this device only, not on the company’s servers” your wallet will be created.
How to top up the wallet
Click “Receive” and here you will see your address. Also, you can generate new addresses. So you can just copy it or use QR-code if you are using a mobile wallet.
How to delegate your Cardano (ADA)
You can delegate by ID or choose your SPO (stake pool operator) from the list
To delegate coins to Everstake, use the ID below:
[EVE1] Everstake ID:
e4abcf4408584601e7c707a8902996c0c291e1a3c8300b327ae3f6ab
https://adapools.org/pool/e4abcf4408584601e7c707a8902996c0c291e1a3c8300b327ae3f6ab
Or you can choose SPO by typing “Everstake” in the search bar.
Click “DELEGATE”
Confirm transaction with your wallet password and click “DELEGATE”
Congratulations — you successfully delegated your ADA!
You will begin receiving staking rewards after 20 days. The Cardano staking yield is about 5% per annum. You can move your funds any time, as they never leave your wallet.
If you want to learn more about Cardano staking in general, make sure to check out our guide on How to stake cardano.
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Disclaimer
Everstake, Inc. or any of its affiliates is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services or take custody of, or otherwise hold or manage, customer assets. Everstake, Inc. or any of its affiliates does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds. Everstake, Inc. or any of its affiliates’s provision of technology services allowing a user to stake digital assets is not an endorsement or a recommendation of any digital assets by it. Users are fully and solely responsible for evaluating whether to stake digital assets.
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