What Is The Best Cardano Wallet To Store & Stake ADA Securely? 🔐
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- čas přidán 22. 07. 2024
- This video looks at the wallets for Cardano that you can choose to store your ADA. I give an overview of each wallet and my opinion. I then take you through the wallets that I use to store my ADA and I am thinking long term with Cardano
www.cardanowithpaul.com/how-t...
** Timestamps **
0:00 Intro To Best Cardano Wallets
1:04 Store ADA on an Exchange
2:14 Multi Asset Wallets
3:00 Official Cardano Wallets
4:19 Hardware Wallets for Cardano
5:30 How to Set up Yoroi Wallet
7:12 how To Set Up A Cardano Wallet On Yoroi
13:29 How to Stake ADA on Yoroi
15:01 How to Set up Daedalus Wallet
17:29 How To Stake ADA on Daedalus Wallet
20:32 Summary of Cardano Wallets
So many people ask what is the best cardano wallet or how do I store my Cardano securely so that is the main quetion that I aim to answer in this video. I cover the best Cardano wallets like the full node Daedalus wallet, the Yoroi lightweight wallet, multi asset wallets like Atomic and exodus. I also give my opinion on holding ADA cardano on an exchange and is it safe to keep your cardano on an exchange.
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** Stake Pool Info **
Ticker: PAUL
Pool ID: 86a19d5418cd07294af7d71386cf14a84e0478fbfde5b89fe4d98a58
Other Videos:
Cardano Staking & Wallet FAQ - • Cardano Staking and Wa...
How to Stake on Daedalus - • How To Stake ADA Carda...
How to use a ledger with Daedalus - • Ledger Support is LIVE...
All delegations very much appreciated as they help support my channels
Share this video - • What Is The Best Carda...
Disclaimer: Everything in this video is my own opinion and is not financial advise as I am not a financial advisor. I am just a random guy on the internet with a big passion for crypto and Cardano - Věda a technologie
👆 Don't forget to smash like and share if you think it will help others 👆
🔴You can also support if you want by delegating to my Cardano Stake Pool [PAUL] 🔴
🙏Thank You 🙏
What about Adalite??
Ya Adalite is another good wallet especially if you are using a hardware wallet
@@CardanoWithPaul Great, thanks!
I guess im asking randomly but does anyone know of a way to get back into an Instagram account..?
I was dumb lost my login password. I would appreciate any assistance you can give me.
Paul, what's the xtra that that would move anyone to prefer your Pool?
Thanks Paul. I'm a complete newbie to staking and am SO thankful i found your helpful videos. i have delegated my small holdings to your pool and will keep doing so as i acquire more ADA. Keep up the great work!
Thank you for the effort! Your videos are perhaps the best on staking ADA on YT! Keep it up!
Fantastic video !! fantastic work! congratulation PAUL for this explanation as the Cardano family keeps growing!!
Thanks Anthony
So far the safest either Daedalus or Yoroi, Yoroi has a nice simple epoch timer and use pool tool to see estimated rewards before they even get to you
Welcome to the future. To support a youtuber you dont give him your money, you both earn money.
You've been great help Paul. Just did my first transfer over from Binance to Yoroi and I will support you by delegating in your pool!
Thanks George I appreciate that. If your on telegram and want to join our group feel free to here - www.cardanowithpaul.com/TelegramChat
Good to have a nice tutorial like that for beginners in the Crypto space. Thanks Paul!
Hey Paul, another good one. Your approach is straight ahead with no BS which works really well for me. Gave you a thumbs up and will watch more of your videos. I think Cardano is going to be the next big opportunity. It's so cheap compared to Bitcoin i can't believe everyone hasn't jumped on it yet? Take care Thanks
@Cardano With Paul ...great vid, thanks man!
Thank you Paul! This video really helped, have staked with your pool and subscribed
Thanks I appreciate that
Super helpful mate! Love from NZ
Just staked in your pool. Its official, I just trusted a stranger on the internet
Thanks Daniel appreciate the trust and support. On the security side when you stake the pool has no access to your funds so you are still the only one that can move them
He' not a stranger, not even strange. Krazy for sure.
Likewise, just staked with Paul. Maybe it was the accent.
This was incredibly helpful. Thank you!
Great videos Paul thank you. One question if you don't mind. If I buy a Ledger can I store purchases from more than one platform?
Thanks Paul, great video!
Thanks for the Videos. Just Staked 17,966 with you. I chose Atomic Wallet from your earlier video. !
Thanks Mike I really appreciate the support. If your on telegram feel free to join our chat group t.me/joinchat/Tw5g4HgiMnfYrOgB
@@CardanoWithPaul just put in another 5k ada
Good video and fantastic Staking Pool, thanks Paul!
Pool ticker: PAUL
Thanks Francesco
🙌🏽Just staked my ADA with you/in your pool.All the best✅
Thanks Paul I appreciate that
On my way👍
i just started staking my ADA 1 month ago and just got my first rewards on April 5!
Thanks for the video
Paul i created multiple wallets on YOROI and one of them is connected to the hardwallet and the others are not. Do you know whether I can have the other wallets connected with the hard wallets after the fact? Also, they are all staked in different pool. Do i need to unstake and restake?
Another very good informational video. Cheers Paul
Thanks Yewbzee 👍
Question, I have my ADA on daedulus wallet on nano X, how do i transfer to Yoroi, do i need to pull out ADA from nano x ledger to daedulus then to Yoroi then to nano ledger x?
So if I'm creating a hardware wallet I first after great a wallet then connect my ledger right?
This a great video, thank you!!
Thanks Doflamingo
Anybody know if I can use the daedalus "receive address" for my ada address on unmineable? Like will it work if I paste it in to the start.bat file?
hey paul trying to transfer my ada from coinbase to yoroi so i can stake in your pool but im having trouble. Any known problems your aware of? or any idea what i might be doing wrong?
I am new, so I pressed the bell and the sub button as per your instruction....
I have stumbled across your channel seeking advice.. its all well and good having a huge bag and following your video.. but how would you suggest managing a dollar cost average approach for example purchasing $500 per month.. what is the best way to purchase, transfer and store ADA that you are topping up monthly?
If you get a new ledger nano s and restore it with your old ledger nano s seed phrase, does your Cardano private key for Yoroi get restored as well?
If so, what is the point of Yoroi generating a seed phrase when you are using a hardware wallet?
Hi Paul. Quick question: it is secure 100% to keep adas in Yoroi wallet or you recommend to have a cold wallet?
Thank you for all your very valuable videos on staking! Just staked in your pool from the ledger :)
Thanks Kenneth
Hello, can you give me a hint on what cardano wallet supports import of private key ? I could not find any. Thanks.
Hi Paul, are you able to please link to one of your videos explaining how you’d go about syncing a brand new ledger device with ADA that you already have staked in a Yoroi wallet? Cheers
If I store cardanos in an digital wallet do the value continues to increase/decrease or do i need to leave it in a exchange for cardano to increase in value ?
I enjoyed watching this amazing content. There are a good number of ada wallets. So far I have issued atomic wallet without issues. I'm yet to try the others available.
Hi Paul, i still don't understand the difference between connect a ledger to a wallet or put my ada on the ledger S itself? Why don't put it on the ledger S itself, What is the advance to connect the ledger S to, for example, yoroi? Greets from the netherlands
Thank you for the video. Joining your pool
Thank you I appreciate that
Informative video. Thanks.
Thanks Matthew
Could someone explain what delegating to a pool means? Paul delegated funds his own pool? So, someone in a pool borrows your ADA, and pays you interest? Thanks for your help.
Great video. You have my subscription and my stake.
Thanks Simon
Thanks for the great content Paul. Do you know if the youri wallet can take Ergo and if so how? They announced it was compatible but can't see that functionality. Would be good to know given the partnership with Ergo on the stable coin. Thanks again!
I dont think its live yet but I have seen videos showing it so I would expect it soon. Its great to see functionality like that been added
Very comprehensive tutorial. I wish I had watched your video when I started my ADA journey. You still taught me something as I prepare for my hard wallet to come in. Like and sub well deserved.
Thanks Ameer
I second that, I went with Ledger X
Hey Paul! looking to delagate w/ you but I have a question using Yoroi. My Trezor-T harware wallet is not connected to my computer but my ada balance shows on the Yoroi/Chome as soon as open chrome on the extension wallet which I created as you show here. Having the balance shown on my Yoroi extension without the hardware wallet actually connected confuse me!!! because I cannot tell if the funds are actually only stored on my Yoroi Extension desktop only? . or on the hardware wallet? I send the funds when y external hardware wallet was not connected either. So confuse as Yoroi never ask me to connect the hardware wallet at all after the transfer
If you set it up through your Trezor then the account is controlled by your trezor. Yoroi remembers your public keys so you can view the wallet but to make any transaction or delegate you would need to connect your Trezor to confirm the transaction. Thanks for choosing my pool too I appreciate that
Thanks so much man I wasn't gonna get cardano if I couldn't put it on my ledger
So after connecting to the ledger, I won't be prompted for a password from yoroi that might block me out? I didn't create one at the start that I can remember...
No when using ledger all transactions need to be confirmed on it rather than with a password
i just started staking my ADA 1 month ago and just got my first rewards on April 5! might have to delegate to your pool
simple and accurate. thank you.
Thank you
Subbed and notifications set
How many ada are required to stake ada without a pool, on your own?
Hi. Thanx for your videos. In ledger live i only see Adalite and Yoroi. But they dont have deadalus as an option, why is that?
Not sure why its not listed there but it does work and is one of the official Cardano wallets. Any problems with it let me know
Thank you for this video! I also subscribed! But ledger was hacked right? So is it not better to use trezor?
Their customer database was hacked but their wallets are still fully safe
@@CardanoWithPaul ah thanks man!
Hi Paul, great tutorial, I’ve just looked to stake into your “Paul” pool, but there seems to be two, a [Paul] and [Paul1] are they both genuinely yours, if so what is the difference and which one should I stake too? Thanks again.
Thanks Marcus, yes both are mine. Paul1 was the first and when it crossed 30m in stake I opened Paul as well. In terms of rewards both should give roughly the same over the long term. Thank you
Anyone else having the problem that delegation transaction process is failing? I‘m using the yoroi app on iphone (ada app from ledger live up to date, as well as the yoroi app). I can delegate through adalite but not through yoroi anymore.
I think yoroi is under so much pressure from people using it it is crashing yesterday and today
Thanks Paul , i didn't realise i could use my ledger with the web wallet , fabulous as i was not not using it
Thanks for watching Paul, ya I like that I can connect it to both
hello, can you make video about how to do Catalyst voting and what kind of rewards we get?
So why might someone choose Daedalus over Yoroi? Sounds like it does all of the same stuff without gumming up my computer with the entire block chain.
What did you lose the ledger?
@Cardano With Pau If i remove/delete the Yoroi wallet where i have 100 ADA ( and my nano ledger are the wallet ) the cryptos gonna dissapear ? Cuz i deleted and i dont know if in my nano ledger i still have the 100 ADA. Help me please, i will appreciate ! ty
If they are on your ledger then you can just readd your ledger and the coins should be there. If it was a standalone yoroi wallet you will need your yoroi seed to restore it
Hi Paul, good channel! Just a question I have about wallets. If I change from my Ada Lite wallet to for example Yoroi, do I miss the rewards I have stacked in the Ada Lite wallet? I want to switch, but don't want to lose the rewards and wait 3 weeks agian before getting new rewards. Hope you can answer this. Thanks!
If you are using a hardware wallet you can just connect the same wallet to Yoroi without changing anything. If its just a normal wallet you can restore the same wallet in Yoroi using the seed phrase
Hey Paul - Not sure if you use cointracker and if you've tried this but if I'm staking my ADA with Yoroi wallet, Is it possible to add my yoroi wallet to the cointracker website ? Would I use my code from my address book ?
Most coin trackers for ADA so far only let you do it on a per address basis so you need to add each of your addresses individually. I personally use coinstats mainly. I'm hoping some of them will track on a per wallet basis soon. If I find one I will include it in some of my update videos
How would I find your pool? What’s your reward percentage approximately?
Connecting to a browser app with my Ledger doesn't sit right with me...
I transferred some ADA to this wallet. It took half an hour first time. Then I transferred again few days later, it's now over two 2 hours still no credit. Synchronization issues, it says. Anyone facing similar problem ?
Just starting in Crypto. Love the video. Will HODL Cardano for 4 yrs so keen on staking. Ordered the Trezor Model for ADA (the Trezor One ) doesn't support it. What part of the Emerald Isle are you from? From the Kingdom here.
Welcome Billy, over west myself
Hey Paul, amazing work. Can you pls tell me how do i logout from yoroi wallet plugin on my desktop?
There is no way to logout of it it just sitting in your browser and remembers your wallet. You can go into settings and remove your wallet but it just means you need to add it again every time you want to access it. I personally just leave mine
how do you feel about eToro? I bought some on there and wanted to send it to the daedlus wallet but cant withdrawl from etoro exchange
ok exchange but I dont like that they wont let you withdraw ADA so I dont use them right now
❤️ Cardano is the future ❤️
📈🔥
If I have created a Yoroi wallet that is now holding my ADA and now my ledger I have purchased is arriving in just over 2 weeks. Am i able to connect it to the ledger or do I have to delete my current yoroi wallet and restart the process to connect to ledger? Cant find info anywhere on this so an answer from anyone would be greatly appreciated.
looking to Stake in your pool Paul but need to figure this out first.
Sort of new in the crypto space, but when you stake a coin, does it remain its value or does it also fluctuate with the market? Example if i were to stake 3k ada that was bought at $1, and 10 years from now ada were to be at 20, will my balance grow?
Yes your ADA is always worth the market value. When staking the $ value isn't taken into consideration, you earn more ADA based on the number of ADA you stake
Hi @cardano with Paul. Thanks for this video. I just wanted to get a second opinion on the Ledger Nano X if the Bluetooth system is easy to use? I do most of my trading on my Mobile and was looking at n good Hard wallet to get and this Ledger Nano X looks like a good fit. Is the Bluetooth easy to use or would you prefer to do everything on your Laptop?
I generally do everything on my laptop but I do have my Nano X connected to Yoroi on my phone and find it very easy with Bluetooth
@@CardanoWithPaul is Yoroi only for Cardano to store or can you also store your BTC and ETH on it? Thank you.
@@henningdekock974 Only for Cardano for now, it will also hold native coins created on Cardano soon as well
@@CardanoWithPaul thanks Paul!🙌📈
Hi, what about Ellipal HW? It also stores ada but in cardano videos mostly recommended trezor or ledger. What do you think about ellipal?
You cant stake from it for now as far as I know
@@CardanoWithPaul but in terms of reputation what do you think about ellipal? Ledger n trezor are a long time on the market, although ledger is a bit undermined now. But there is little info about ellipal
Hi Paul 🙋🏻♀️ How do I update cordano app? I’ve been delegating w you for a while, and really don’t know who to turn. I can’t withdraw from Yoroi I think problem in updating cordano app ?
Yes that is a common issue for people, you will need to do it through the ledger live app and should work then
Good video
Hi , thanks for your videos
How about stroring ADA in Adalite, is it "safe"
Thx
paul yes
Question do i need to leave my Ledger connected to my laptop and Deadalus open for the staking to work?
No once you delegate you can disconnect and put it away safe
Finally I just staked my ADA to your "Paul" Pool!!! Good videos....Thanks...
Thanks I appreciate that, If you use Telegram feel free to join us in our chat group - www.cardanowithpaul.com/TelegramChat
Hi Paul Great video.
I have a question when I'm trying to connect my Ledger I'm getting this information
Incorrect device version detected. We support version >=2.1.0 but you have version 2.0.4.
I have checked the settings a I can't update my version. Do you know what I can do in this situation.
Thanks in advance
Sounds like you dont have the latest ADA app on your ledger. You will need to update it through Ledger live
Thank you
Another question. What if you had an extra computer that was only used for crypto and you used a CD to copy you seed phrase. then the computer would be shut off except when doing a trade, wouldn't that be just as good as a ledger or other hard wallet? Thanks
Not just as safe as it is still connected to the Internet but is another option
Hi Paul, Asking for a friend, he created a Byron wallet instead of Shelley wallet. Has fund sin Byron - is the best way to create a new Shelley wallet and then transfer from Byron to Shelley?
I know we chatted on Twitter but answering here too incase anyone else has this problem.
Your friend just needs to set up a shelley wallet and send the funds there. Byron was the older blockchain and doesn't support staking but any funds on it are still safe
Hi Paul, thanks for your videos, it took my Mac laptop over 24 hours to install the Daedalus wallet! I'm now trying to stake my ADA to your pool via my nano ledger X and it's taking forever as well. I'm confirming everything on my nano x but wondering if it might take a few hours to stake given my experience with Daedalus.. have you heard of this before?
The initial sync of Daedalus when you add it first can take a few hours as it downloads the full blockchain. Once it is synced staking should only take a few minutes. Thanks for joining the pool
Hi Paul, I have just delegated few of my ADA I have to your pool, however I have few questions. What is the meaning behind the fixed fee of 340 ADA? And why is your pools' ROA only 3,3 % while there are stakepools even with 7 %? Would I get double the rewards from these stakepools? Thanks, cheers
My average stats are low as when we were a smaller pool we weren't getting rewards in every epoch but we are now and the current epoch looks like it will finish at 7.3%. A few more like this should pull our stats up well. Most pools will average out between 5% - 6% over the year. Thanks for your support. The 340 is taken out of the overall pool rewards so no individual delegator pays it. I cover the fees here czcams.com/video/ksdVA15meHw/video.html
Feel free to join our telegram too - t.me/joinchat/Tw5g4HgiMnfYrOgB
I am going to stake my ADA with you. Thank you for the excellent content 👏
Thanks nishan I appreciate you choosing my pool
I don't know why I can't export my public key... there isn't any confirm information on my ledger nano screen, any suggestion? thank you
Do you have the latest ADA app on your ledger? It wont let you continue if you dont
Thank u so much!! It works!!
How about taxes. You have to keep track of your interest, and print out your transactions for your accountant?
Paul, I have a hardware wallet. Should I purchase a second (Ledger) and make a copy so that I can store safely offsite (disaster recovery plan)?
Its always handy to have a second ledger. The most important thing is keeping your seed phrase safe as you can restore your wallet onto any ledger with it
If I stake my Ada with a pool such as yours. Does the ada that is staked transfer to the pool or can it remain on the ledger wallet?
It always remains in your control on your ledger. The pool never gets access to it, you just sign a stake key to say you essential vote for your chosen pool
Intelligent dude.
Beginner question here. Can I hold ada on Celcius? Is that just as secure as exodus or Dadulus wallet.
They will be adding it soon. I like Celsius but for me its always more secure in a wallet like Daedalus where I control the keys
But Paul, I just followed the steps to the Yoroi Wallet guide, but I never wrote any passwords or got any codes to write down, I only connected it to my Ledger Nano X. So what do I do if I loose my computer? Will my funds be secured?
When you use a ledger its the seed phrase for the ledger you need
If I already have ada in atomic wallet? In yoroi I have to create a new wallet or restore?
In Yoroi you would need a new wallet
Hi, I'm a newbie in this world. Could you tell me if all pools are secured? what is the difference between choosing different pools? Cheers!
When staking the pool never has access to your coins. You are still the only one that can move them. Most pools will also average out to around 5% - 5.5% over the year in rewards too
Staking from a cold wallet in Daedalus or Yoroi 🔥💪
Thats my choice
This is the way
will I see the ada balance in ledger live? or just in Yoroi wallet.
No its not supported in ledger live yet
If I'm mining ADA do i use that hardware address instead of, let's say the address in the exchange? Would that work?
When you connect your hardware wallet you will get addresses through Yoroi or Daedalus on the receive tab and that is your wallet address
Is NAMI wallet better than the YOROI wallet?
Just a question, would there make a difference whether to use ledger only as a cold wallet vs a example like yoroi wallet plus additional safety of a ledger? Would that mean that yoroi + ledger is safer then only a ledger setup?
To use your ledger you need to use something like Yoroi or Daedalus to access them
Oh, ledger itself doesn't contain any wallet. So you will need to download a third party wallet and use it with the ledger? Is that the same with every crypto that the ledger support? Thanks
@@jeremychai5677 Ledger have their own software that lets you manage multi cryptos called ledger live but it doesn't support ADA yet. I would expect it to be added at some point though
Can I just use a regular USB stick if I'm only going to put one crypto in cold storage or do I have to buy a ledger
No it has to be a proper hardware device as a normal usb doesn't have the hardware or software for the encryptions
Learn something every day thank-you ..I regret selling my btc so I hope cardano can make some moves over the years. Hey what are your thoughts on non-fungible tokens in which ones would you recommend thank you great channel
What is the advantage of going through all these complicated steps in Yuroi and Daedalus wallets??? When in the Exodus wallet is pretty much one click and the reward is about 5% ???
You can keep your own private keys secure over those wallets with your Ledger.