Search

How to stake ADA from your Cardano Yoroi wallet

Updated: Aug 24

Yoroi users can now stake their ADA right from Yoroi

On Aug, 11, the delegation update was released, enabling Yoroi users to delegate their funds to a stake pool through the desktop version of Yoroi. - this functionality is not yet supported by the mobile app version. Those familiar with the Yoroi interface most likely would not have any problems delegating their stake. Users that have previously used Daedalus or participated in the Shelley Incentivized Testnet (ITN) will also find the process rather easy and straightforward.



Let's begin:

1) Users will need to have the Shelley version of Yoroi installed. The application can be downloaded from the official Yoroi website - https://yoroi-wallet.com

2) Once downloaded, users should select the mainnet version of Yoroi.



Then you can create or restore a previously created Shelley wallet using your recovery key ( created on Deadalus for example ) - the delegation functionality is not compatible with Byron (old version) wallets.


If you create a new wallet, save the recovery key in a safe place! And do never lose that key.


3) Transfer your ADA to your wallet (if not already there) and, to begin the staking process, users should go to the delegation center tab on Yoroi, where they can enter the ID number of the stake pool they wish to delegate their stake.



For example, our pool id - ADABreathes [BRTHE] :

80cb48c2953a78d25f69dbcea305fbcce0c520c25d401cd75a259cf1


You can search for you stake pool on: https://adapools.org/


Update: Now you can search for the pool ticker.

4) Once the stake pool is chosen, users proceed to the next step where they are required to enter the amount of ADA they want to delegate. Those delegating from Yoroi are required to pay a delegation fee of 2.174 ADA, a transaction fee of 0.17 ADA, and a minimum 2 ADA deposit.

The approximate rewards value will be calculated after you have entered the spending password.


5) Entering the password is also the final step in the process, which initiates the delegation. Users can see the results of their delegation on the Yoroi dashboard. The ability to see which epoch the rewards will come into effect will appear within a few minutes of delegating.


197 views

©2020 by ADABreathes.

This site was designed with the
.com
website builder. Create your website today.
Start Now