ADA staking method (delegation method): Mobile Phone
The Yoroi-mobile Wallet is an ADA-only mobile wallet.
Unlike Daedalus full notes, Yoroi is connected to the full Cardano node through a third party (Emurgo). Yoloi is therefore instantly configurable and can be operated quickly and easily with minimal system resources.
Yoloi Mobile Wallet is an app for iOS and Android.
Below are the instructions for installing the YOLOi Mobile Wallet on your iOS phone and staking from YOLOi Mobile to your staking pool (ADEN).
1. search for an app in the App Store
Enter "Yoroi" in the App Store search and search for "EMURGO's Yoroi Cardano Wallet
3. open Yoroi Wallet
- Tap "Open".
- Tap "OK" on "Yoroi Wallet is asking to use Bluetooth".
- Select "Japanese" for "Choose your language
4. check terms of service
- Review the terms and conditions, tick 'I agree with Terms of Service' and tap 'Agree'.
- ENTER YOUR PIN
5. create a wallet
- TAP "ADD WALLET (SHELLEY-ERA)".
- Tap "Create Wallet".
- Set your Wallet name (you can change it later) and the password you want to use to send money and delegate stake pools, then tap 'Next'.
6. check the restore phrase
- Read carefully the instructions on how to handle the recovery phrase that corresponds to your private key and tap "I understand".
- Write down or take a screenshot of your wallet's 15-word recovery phrase so that no one can see it, then tap "I wrote down my recovery phrase".
- Read the notes on Restore Phrases carefully, check the box and tap "Yes".
Please keep your recovery phrase in a safe place and do not leak or lose it.
7. enter the restore phrase
- Tap the 15 restored phrases you have just written down in the correct order to check that you have written them down correctly
- Once you have entered your information, tap "Accept" and you have successfully set up your wallet.
8. COPY THE ADA DEPOSIT ADDRESS
TO DO CARDANO STAKING YOU NEED TO DEPOSIT YOUR ADA HOLDINGS INTO YOUR WALLET, ONCE YOU HAVE YOUR ADA TAP ON THE "RECEIVE" TAB AND COPY YOUR DEPOSIT ADDRESS TO TRANSFER ADA FROM AN EXCHANGE OR OTHER WALLET.
- Tap the 'Receive' tab in the wallet
- Tap the new address
- Tap the 'Copy address' button on the display and paste it into the payee address (withdrawal address) when you send money.
Please make sure you copy it to avoid typos.
9. transfer ADA from Binance to Yolo Wallet
Copy the deposit address of the YOLO wallet copied in step 8. to the ADA withdrawal address in Binance, specify the amount to be transferred and click "Withdrawal".
10. withdrawal confirmation
Click on "Next
11. security verification
Enter your phone verification code and email verification code and click "Submit".
12. remittance completed
Click on "Finish".
13. payment confirmation
Once the transfer is complete, check to see if the money has been credited to your Yolo Wallet
14. search the stake pool
ONCE YOU HAVE MADE AN ADA DEPOSIT INTO YOUR WALLET, IT IS TIME TO DELEGATE TO THE STAKING POOL AND START STAKING.
- From the wallet, tap the 'Deligate' tab at the bottom right
- SEARCH IN THE STAKING CENTRE BY ENTERING THE TICKER "ADEN" FOR THE STAPLE POOL ADEN
- Tap "DELEGATE" when you see "[ADEN] Cardano ADEN Stake Pool".
- Confirm the fee (including deposit) to record the delegation information in the blockchain, enter the remittance password you set when you created the wallet (the password you set in step 5), and tap "Delegation".
- Your wallet delegation settings are complete (congratulations!)
STAKING INVOLVES A 2ADA TRANSACTION FEE AS A DEPOSIT TO THE PROTOCOL. THE DEPOSIT FEE OF 2ADA WILL BE RETURNED TO YOUR WALLET WHEN YOU CANCEL YOUR MANDATE TO THE POOL.
16. check delegation settings on dashboard
Make sure that the wallet is delegated in the "Dashbord" tab. Staking will be activated after 2 epochs of your choice. The actual flow from delegation to reward payment is as follows
Example: Epoch 269 (delegation selected)
→Epoch 270 (taking a snapshot of the delegation status)
→Epoch 271 (the delegation becomes active)
→Epoch 272 (calculation of the reward)
→Epoch 273 (payment of the reward)