How To Stake ADA

This tutorial is about how you can stake your ADA using Yoroi Wallet on mobile and desktop devices. Earn up to 5% per year on your Cardano investment.

# 1. Get the Yoroi wallet

Yoroi wallet is available as a browser extension for all the big browsers out there.
You can also download the mobile wallets.

# 2. Set up Yoroi

# 2.1 Select your language

Select your language

# 2.2 Agree to the terms of use

Agree to the tos

# 2.3 Select "Create wallet"

Create wallet

# 2.4 Select "Cardano"

Select cardano

# 2.5 Select "Create wallet"

create wallet

# 2.6 Enter a wallet name and a password

Enter wallet details

# 2.7 Make sure that nobody can see your screen

Now you have to make sure that nobody is around and can see your screen!
If you have verified that click on continue.

Make sure nobody can see your screen!

# 2.8 Write down the recovery phrase

This step is very important!
If you loose access to your device on which you are creating this wallet, the only way to restore your wallet is by using this recovery phrase.
So make sure you write it down correctly at least one time. It's better to keep multiple copies of it in different locations.
Never store those words on your hard drive!

The recovery phrase

# 2.9 Verify the recovery phrase

After writing down the recovery phrase you have to confirm it by selecting the words in the right order.

Verify the recovery phrase

# 2.10 Tick the boxes after you read them

Tick the boxes but make sure to read and understand them.

Confirm

# 2.11 Setup done

Setup done

# 3 Send ADA to your wallet

# 3.1 Get the receive-address

Get the receive-address

# 3.2 Send the coins to this address

Now you have to send your ADA to this address.
Tutorials for different exchanges like Binance and Kucoin will follow.

# 3.3 Wait for the ADA to arrive

This can take up to 30 minutes depending on your exchange.
If you send the transaction directly from another wallet it should only take a few seconds.

# 4 Delegate (stake) your ADA

# 4.1 Select a stake pool

When selecting a stake pool make sure the pool size is smaller than 80% and has not more than 5% fees.
In my example I pick the Cardano in Africa pool which has only 2% fees.

Select stake pool

# 4.2 Select delegate

Select "delegate"

# 4.3 Confirm delegation

Confirm delegation

# 4.4 Enter your password

For security reasons you have to sign this transaction by entering the password you set in step 2.6

# 5 Done!

That's it. You will now receive your reward every 5 days.