How to Stake on Cardano
In order to delegate, you will need:
1. ADA tokens: which you can buy on exchanges like Binance or Coinbase
2. A wallet that supports delegation: Yoroi, Deadalus or AdaLite
If you use the Yoroi or AdaLite wallet you will need our pool-id: 48fd30a022a3daaed7806f5c8739516129b32146f0efd1440c1fa14a
Yoroi and AdaLite are lightweight wallets that run in your browser (or as a browser plugin). Daedalus runs as a standalone application on your machine and downloads the blockchain to your computer. Deadalus and Yoroi are highly recommended, and function well in terms of security, ease of use, and features.
The wallet software makes delegating easy no matter if you are restoring ADA from an old Byron wallet, or if you already have your ADA in a Shelley wallet. Since delegation is quite easy, I will not explain it in great detail here. But before you delegate please consider:
-If you plan to delegate to multiple stake pools, you will need to create multiple wallets and fund them
-Take care and keep your recovery phrase safe!
Delegate from Daedalus:
1. Open your wallet and let it synchronize
2. Create a Shelley account-wallet (either by creating a new wallet or by restoring an old wallet from a recovery phrase)
3. Fund the Shelley account with ADA from an exchange if you need to
4. Check that the account is funded with the amount of ADA you wish to delegate
5. Go to the wallet's delegation section and search for the NFTS-ticker
6.Delegate your account and you are done!
Delegate from Yoroi:
1. Open Yoroi and go to "Settings". In Settings check that you have Yoroi v3.1.1 or above
2. Transfer ADA from an exchange to a Shelley wallet in Yoroi (or restore an existing wallet from a recovery phrase)
3. Locate the poll in the "Delegation List" or bo to the wallet's "Delegation by Id" tab and enter NFTS pool-id: 48fd30a022a3daaed7806f5c8739516129b32146f0efd1440c1fa14a
4. Delegate and you are done!