How To Buy Cardano, Choose a Wallet and Stake Your ADA for Rewards
Vložit
- čas přidán 8. 07. 2024
- Step by step tutorial on how to Buy Cardano ADA, choose a wallet to safely store it and then how to delegate to a stake pool so you can earn rewards on your ADA.
Blog Post - www.cardanowithpaul.com/how-t...
-- Time Stamps --
0:00 Intro
2:14 How to Buy Cardano on Binance
9:05 How to Buy Cardano on Kraken
15:40 How to choose an ADA Wallet
17:53 How to withdraw Cardano
18:04 How to Stake on a Hardware wallet
23:34 How to Stake on the Daedalus wallet
24:36 Summary of Buying Cardano
The 2 main exchanges I use as the examples in the video are Binance and Kraken which both allow you to buy ADA. I also mention Coinbase as I know it will be a common question but as I recorded this video buying Cardano on Coinbase is not available, I do expect it will be available in the future though.
Wallets I mention are exodus, atomic wallet, Daedalus and the hardware wallets are Leger and Trezor which can be accessed using Yoroi
The main stake pool websites then are adapools.org and pooltool.io
All of the above are linked in my blog post - www.cardanowithpaul.com/how-t...
** Stay Up To Date **
Telegram - www.cardanowithpaul.com/Telegram
Twitter - www.cardanowithpaul.com/Twitter
Website - www.cardanowithpaul.com/
TradingWithPaul - / @cwpaulm
-- Stake Pool Info --
Ticker: PAUL
Pool ID: 86a19d5418cd07294af7d71386cf14a84e0478fbfde5b89fe4d98a58
All delegations very much appreciated as they help support my channels
Blog post - www.cardanowithpaul.com/how-to-buy-cardano-choose-a-wallet-and-stake-your-ada/
Timestamps
0:01 Intro
2:14 How to Buy Cardano on Binance
9:05 How to Buy Cardano on Kraken
15:40 How to choose an ADA Wallet
17:58 How to withdraw Cardano
18:04 How to Stake on a Hardware wallet
23:34 How to Stake on the Daedalus wallet
24:36 Summary of Buying Cardano
Got to know about your channel via the Your Cardano Update podcast. I've been hodling since 2017, too. Will subscribe to your channel. Thanks for helping the ADA community.
I've went through the whole setup before. Very well explained, but... can you imagine explaining this to your parents or any person that is less computer savvy?
On the other hand, the earlier the adoption, the bigger the gains.
man dedicated his life to Cardano, thanks for the content btw very informative
Thank you for your time and value brother!
Thanks for the information, just staked to your pool, got in before the rally from 30ish cents to just under $1 & just had enough time now to set up my wallet & stake, looking forward to a bright investing future! :)
Thanks Daniel, appreciate you joining the pool
My Trezor is in the post and will be coming back to this video once it arrives. Thanks.
God, I wish I had bought Cardano back in 2020 haha.
Me2
Not too late
Me also🤦🏻♂️ I only got into crypto in May when I bought my first Ada, I feel like I’ve missed the boat when I see Paul buy 1000 Ada for next to nothing😂😂
@@kyrip I 2nd that.
Next year you’ll say you wish you bought it in 2021
Thank you so much for making this video! I really appreciate it!
Great to hear you got value
Keep posting good videos man on different cryptos and coins and target prices. Thanks.
Great video Paul, I've really enjoyed your work. Every walk through you have done that I have seen has been filled with such valuable information that I don't have a need to look anywhere else. My venture into Cardano has been great thanks to you!
Thanks Brian
Great Videos. Staked to your pool yesterday.
Thank you
You are serious and genious guy. Amazing info man
Thanks Sagar
Thank you for very clear explanations Paul! I understood almost all of what you talk even with my rather poor English which is not my native language.
Just staked all my coins in your pool. Read on your website your rewards are as similar as most pools. I also respect your knowledge and research. Keep on going bro.
Thanks man I apprecaite that. Ya we are hitting blocks and rewards every epoch now and in general most pools balance out with rewards over the year
@@CardanoWithPaul no problem man. Actually if you can answer this for me, just got home and saw something new I didn’t see before. It says I’m starting to earn rewards now but I didn’t get any? It says “NOW” , Epoch 252 , Epoch 253. So the epoch we are in is Epoch 251? Does that mean I’ll get rewards in 5 days?
Great Videos. Staked to your pool today.
Thanks for joining
Great video thanks man ! But that two month timestamp really brings up some good memories of when Ada was less than $0.35
Excellent intro. Cheers
Good vid. Commented and thumbs up.
You can also use an Adalite wallet shown on ledger manager and used with your ledger which is also pretty straight forward. Great video👍🏻
Yep adalite website is a solid option too. For doing staking on adalite you need the pool id rather than the ticker name.
Just Switched From BTC to ADA/USD Trading. 💰
thank you very much
Great explaining, many many thanks.
Glad it helped
Adalite wallet is easy to use, stake, and supports Ledger.
Thanks for the info my good man. Managed to move some Cardano to Yoroi after my computer decided that doing anything else with Daedelus on board was upsetting it. My Cardano then somehow jumped into your Staking pool. I'm hoping I made good use of a rainy day in Galway.
Thanks for joining John. Ya Daedalus can be a bit resource hungry so Yoroi is a good alternative. Galway is a nice part of the country :)
Very helpful. Thank you very much:)
Great to hear it was helpful
Great video thanks for your content! Got yourself another subscriber, thankful I found your channel. Waiting for Coinbase to add ADA, but might have to open up a KRAKEN
Still no word on coinbase so probably worth opening kraken just to start the process
That ADA price is history now. 0.16. DAMN
lets wait for 1.6
@@pastuh There now
lets wait for 2.1
Almost 3 dollars now
Circuits of value Coval
Hey Paul any idea why over on Binance (the US version) when you look to withdraw ADA, it shows only the BEP2 network available and under where it says Cardano network it says "Withdrawal for this coin is currently turned off" 😕😕😕
Can you put the coins and keep them in your metamask ?
1.22 rn friend been putting me on
Thanks for your video
AND i have a question. Can i use my ledger nano X, which i'm using for Ledger live app, also use it for yoroi wallet? In the same time for two of them? Thanks in advance!
Currently ADA isn't supported on Ledger live so you need to use Yoroi for it but you can have your ledger connected to both apps
You suggested the two exchanges which are not allowed in the state I live in. You should do a video directing us to an exchange that everyone can access ADA on.
@@cardowithpaul4028 I am more educated than I was back then. I have since then found out how to navigate the exchanges and know how to swap tokens
I live in New York State so I can not use Binance or Kraken to purchase ADA. Any recommendations?
What does, epoch, stake, pool and delegation mean?
Great videos Paul. I have just bought a new computer and want to use ledger live which i have been doing so on my existing laptop. i can't found out how to transfer my existing account over to run on my new laptop. Any ideas? many thanks
You can just install it on your new laptop and sync up your Ledger again. For ADA you can use Yoroi or Daedalus again on your new laptop and sync to them too
I live in New York whats a legal and secure way to by Cordano ADA. Would really appreciate anyone's help!
Now it's super easy to buy ADA in the US. Just use Voyage.
Hey Thanks Paul good job! I'm a total beginner from US and my state doesn't support Coinbase or Binance so I guess I'll have to use Kraken? My question is what's wrong with just using a memory stick as a wallet and when not using it keep it unplugged from my computer? I'm also confused about the seed words. Thanks for your help.
Thanks for watching Francis. The hardware device looks like a usb but has full encryption software and hardware so all transactions need to be signed using the device. The seed phrase is what you will need if you ever lose access to your hardware device or wallet as you can use the random words to restore it on a new device.
Thanks for the tutorial. I'm in Canada and can't get ada to show up on the drop down menu when I try to buy crypto (in either Kraken or Binance). What am I doing wrong??
Can you see this chart when logged into kraken? - trade.kraken.com/charts/KRAKEN:ADA-USD?period=1h
thinking of joining your pool so what wallet do you recommend that doesnt lock my ada in?
Yoroi or Daedalus are the wallets I like. When staking with Cardano your funds are not locked
Thx for the info! 👍🏼Do I have to pay taxes on ada earned from staking?
You would need to check your own country but in most rewards are income
Paul, i want to stake ADA in your pool. I have a Yoroi wallet linked to my ledger hard wallet but i only want to stake half the amount that i have. How do i do that???? anyone?
What about the emurgo Yoroi wallet? Is the app wallet ok to use and stake?
Ya it's a good lightweight wallet to use too
Hello sir
Can you suggest me the best trustable app to buy cardano in canada
Should I make a yoroi wallet now or should I wait for the Goguen update to start staking??
Sooner the better. Gougen won't change the wallet as it will be the same wallet. Gougen is an add on to the current blockchain
In staking is the epoch ada fee something removed from total pool?
Not sure which fee you mean? The fixed and variable fees are taken from the overal pool rewards and then the rest is split with delegators
Hi Paul, If I use coinable pro currently. which one do you recommend for buying ada?
I use both Binance and Kraken. If its purely for ADA then Kraken probably has the edge. No harm having accounts on both as during bull runs its always good to have multiple options if one is struggling under the load of new users
so what if your hardware wallet gets damaged ,ive had several usb sticks stop working after a few years
Once you have your seed phrase you can restore it on a new ledger
Paul, how does ADA price relate to staking returns? With price fluctuations, does it matter? or do you just gain more ADA period?
Price doesn't have any impact on returns as returns are paid in ADA
buy and holding STRONG ada cardano. we will be RICH!!! ada cardano is the best project and go to the MARS !🚀🚀🚀🚀🚀🚀🌕
CARDANO WILL BE KING 🤘😈🔱
I sent directly my Ada from binance to daedalus in my wallet linked with my ledger nano s. Now i try to withdraw it but i can’t a as the message waiting for commands pops in my device in the transaction confirmation process. Someone help me please.
Do you have the latest ADA app on your ledger? There was a new one recently
I just bought ADA in Coinbase tonight. Do you have an update video yet?
can u post a video how to store ada on ledger?
Hey Blake, this might help - czcams.com/video/vMm24YslkpI/video.html
I have bc vault . Do u think i can sync Daedulus with that?
No currently only Ledger and Trezor are supported in Daedalus
Once I transfer the coins to my personal wallet, I can use the coins in my wallet at any broker? ie, if I buy 100 ADA from Kraken and transfer to my wallet, can I cash out 100 ADA on coinbase using my wallet?
You can cash out any time but coinbase doesn't support ADA yet so you would need to use a different exchange
how do you sell / trade your coins while you stake?
You would send them back to the exchange you bought them on to sell
Hi Paul, Savage stuff man. do you just use the ledger or do you sometimes use desktop wallets like Exodus? I have ordered the ledger and I'm just curious if I should keep all my crypto on the ledger and not use Exodus anymore?
Thanks man. For any crypto I am holding longer term its always on a ledger. I also hold small amounts on binance and kraken for trading
@@CardanoWithPaul while holding small amounts on binance and kraken to trade are you holding on the exchange or trust wallet?
Hello! thanks for the video!
Just a quick question.. adalite is okay for doing the same procedure as yoroi or in your opinion should i use yoroi?
Yes adalite is good too if your using a hardware wallet. If your logging it with your seed every time just be careful to use the right website
@@CardanoWithPaul Thanks for your prompt reply brother.. yes i will be using my trezor wallet.
What is your staking pool ID? id love to show some support through that as well!
loving your content and educational vidoes.
@@jadmonzer2265 Thank you. My pools are under the ticker PAUL and PAUL1. The ID is a89b86373838360143aba3911eaae54bf9420868965d48d447e4510a
do i still need the hardware wallet if I am going to stake it in yoroi or daedelus?
No you can stake in them wallets without a hardware wallet if you want. The hardware wallet is just an extra layer of security
I can't get not one of these apps to work it always has some kind of error.
Which ones aren't working or what errors are you getting?
Do you have any videos on the actual mechanics of staking ADA ie whats actually going on with your staked ADA, how it generates rewards, what are the risks, can you lose money etc? I can only find "how to videos" which are good but I like to know how the staking process works. Cheers.
I dont have a specific video on that but I will put it on my list to make.
Summary:
Pools earn rewards by been assigned blocks in an epoch. Pools get blocks based on a lottery and pools get tickets for this lottery based on the total stake in their pool. The rewards the pool get are split up between everyone in the pool
You cant lose your funds by staking as the only person that ever has access to your coins is you, by delegating / staking you are effectively signing a transaction on the blockchain that putting your weight behind your chosen pool
I can dig into this more in a full video on the topic
@@CardanoWithPaul that would be great. Thanks for the summary much appreciated.
Paul, brilliant content lad. Can I stack my Ada on eToro do ya know.
Ya they do offer staking but I haven't used it so not fully sure how it works
Thanks il have a look in to it
Any suggestions on how to get cardano in NY?
Some people buy BTC on exchanges like Coinbase and then send it to atomic wallet to swap it for ADA. Hopefully there will be more option for NY soon
Just finished my first epock staking with Paul Pool. Just wanted to ask why didn't I get any rewards? Thank you
First payout is always 15 - 20 days and then every 5 days after that. I walk through the timeline here - czcams.com/video/umiv-YMmnaU/video.html
Thanks for been in the pool
By the way i have etoro any special tips?
With etoro I dont think they let you withdraw your ADA so its not one I generally recommend for buy and HODL but for trading they are ok
why i cant transfer my ADA from binance to yoroi using ADA transfer network on binance ? it always says "under maintenence".
Binance take withdrawals offline every so often, I just checked and see it should be back up later today. They have a feature now that you can set a reminder to get an email when it is back online
wait, how to avoid higher fees then? I dont undestand quite well..
If you use limit orders rather than market orders you get cheaper fees
How long does it take for the advanced verification to go through?
For me it was a day but that was a long time ago now. Could be a bit longer right now with the big number of new people
Can someome please explain if yiu get your ada back after youve staked it? And how long does the ada rewards keep coming back to me? Whhere do these pools go, how long do they last, what's their purpose? What happens to my ada after theyve fulfilled that purpose?
Please, anyone??m
You always retain control of your coins even when staking so you can move them at any time you want. You will keep getting rewards as long as you are staking and rewards will stop when you stop staking
Hi Paul, newbie here. How do I buy ADA from my Newton account? I already have Binance and Yoroi. I hope you can help me. Thanks.
Not sure what Newton is? Did you try and buy in binance?
Does withdrawing ADA from Kraken mean basically you are transferring your coin keys to your wallet??
Could someone kindly help me with this? I currently own both Polkadot and Cardano but im afraid I might make a mistake when moving my coins to Exodus (the wallet I chose to use)
You are transferring the coins to the new wallet which has its own keys and with Exodus you will be the only one that has access to them keys
Can you store other Crypt on the same wallet as the ADA?
On daedalus or yoroi it has to be ADA or a Cardano native asset. If you use a ledger you can store different coins in it too
Thanks. Quick note. BTC broke 58k in 2 months after this video. I'm all about Cardano but would never use BTC to buy anything
Ya I'm very particular about what I buy with BTC. I just checked and since I posted this video ADA is up 147% against BTC so worked out well this time
Thanks for the reply! I’m fairly new to crypto and while I've been buying BTC and a few alts for the past few years I still feel like this is all so overwhelming when it comes to how many defi projects are coming out, exchanges, coins, tokens, staking etc... I do believe Cardano is gonna keep rising so I’m gonna try to get some ADA soon and go with the Ledger option. Random question but what happens if that hardware wallet stops working all of a sudden? And secondly, has there ever been a case where you send some crypto to a hardware wallet and it never arrives and it's just gone forever? (Maybe it's best to send small amounts over time, which i would try to do with my BTC to eventually get it all off coinbase ...Thanks!
Hello Paul, when someone delegates their ADAs for staking, that means they do not have control over them in the meanwhile? The Pool owner could go away and take your ADAs or is there any kind of lock/control?
Even when staking the only person that has control over moving the coins is you. The pool never gets control of them. I go through that and a few other questions here - czcams.com/video/6Xy0gtchMDE/video.html
@@CardanoWithPaul Awesome! Thanks for taking the time to respond!
I want to stake my ADA in your pool. Please reach out to me to help a newbie understand this process. I see all the hows but there is the cost to stake I'm not quite understanding.
So I am staking my Ada on the ledger hardwallet just to be clear? And also, is it safe to be in a staking pool? Thanks
Yes when staking you are still the only one that can move your coins
Hii paul
I already stake in atomic wallet
How i want add more ada for stake.
Do i need search same pool again?
No it should auto stake for you
Need help,
I can only get KYC on Coinbase. I have an Exodus Wallet. How can get ADA? Can I buy DAI or USDTether on Coinbase Pro then move DAI/USDTether to Exodus and then once its on Exodus can I convert to DAI/USDTether to ADA? If I do this way will there be high gas fee's?
Thanks for the help!
If you buy another crypto on coinbase you can send it to kucoin and buy ADA there then - www.cardanowithpaul.com/Kucoin
can someone give me an understanding or point me in the right direction of the difference between buying and staking ADAUSD and ADABTC. I want to buy in and stake ada but when it comes to which one to buy I am confused.
With either pair you are buying ADA, the pair you will use depends on if you want to buy with USD or BTC you already have. In the end you will end up with the same ADA and that is what you stake
@@CardanoWithPaul right on, thanks very much Paul! I’m loving the videos, thank you for educating us all
Paul I'm planning on staking with you. Just watched your video and would like to know if I can send my Binance Ada to my Shelley Ada wallet?
Yes when your re withdrawing use the Cardano network. Thanks for picking the pool
Hey Paul. I bought my ADA at Voyager. No one really mentions Voyager when talking about where to buy ADA. What is your opinion on Voyager?
From what I've heard there good but nor available for me in Ireland to try
Great video! Do you have any idea how can I deposit USD to Kraken? It’s a bit confusing for me I don’t know what I have to do exactly
Thanks John, it depends on your country. when you go into funding and pick your currency you will be given the options in there.
Yes me too. It's very confusing. I have been looking for ways to get cardano and ripple in the US but no success
Phenomenal video! Thank you. Can anyone help me to tell how to buy ADA with my Bitcoin in Kraken, once I transfer the USD from Coinbase to Kraken as Bitcoin? Thank you
please can you assist - I have sent Cardano from my Binance account to my Metamask account in error is there any way to get it back?
You will need to contact Binance support to look at it for you
Does it make any difference how often you claim your staking rewards? I just claimed a months worth, but is there any advantage to leaving the rewards in for longer before claiming?
No advantage to claiming or not claiming as they are auto staked for you. I only claim if I want to move them out of the wallet
Thanks👍. Love the channel by the way.
Coinbase buy?
Does staking safe?
What it purpose
Yes you are still the only one that can Co trol your funds
Hi, I have a Ledger and read it was now accepting ADA. But as you said, you can only put your ADA on your Ledger with a 3rd party - I chose Daedalus and then found it only allows you to do it via polkadot.js, which looks like a website to me. The whole point of having a cold wallet is to put my coins out of the reach of hackers - how secure are my ADA if I store on ledger but through Daedalus via polkadot.js ?
Hey Alan, no you shouldn't be using polkadot.js if you are using ADA and ledger. You should only be using Daedalus or yoroi as your interface for your ledger as the keys for you crypto always sit on your ledger. I show the process here - czcams.com/video/vMm24YslkpI/video.html
Any questions let me know
@@CardanoWithPaul so sorry. Wrote that late at night. My ADA are in Daedalus and my DOT are in polkadot.js. the question is, how safe are they? The whole point of buying a Ledger is to keep everything offline
Binance won’t let me buy Ada. Says it’s not supported where I live (USA)
You would need to use BInance US or kraken - www.cardanowithpaul.com/how-to-buy-cardano-choose-a-wallet-and-stake-your-ada/
If I made a wallet on Yoroi sent my ADA over there. Can I add a ledger or trezor after?
You would need to sync / pair your ledger with Yoroi I show it in this video czcams.com/video/3ypcYjjJNns/video.html
@@CardanoWithPaul Thanks, I'll check it out. Do you recommend a ledger?
Yes I personally use a ledger for mine
I still don't see where my dollars are converted to Crypto? I need to fund the account first but that isn't in ANY video on crypto.
When you go to deposit on Binance or funding on Kraken you will see the options there for depositing your Dollars
so if your not in USA what app will u buy cardano
I use Binance and Kraken - www.cardanowithpaul.com/how-to-buy-cardano-choose-a-wallet-and-stake-your-ada/
would Metamask work to store my ADA?
No meta mask is for ethereum and erc20 tokens
Is their a wallet you can use if you only have a mobile device?
Yes Yoroi would be the mobile app to use
@@CardanoWithPaul Thanks mate
I've never staked before. Seems like a tax nightmare. Maybe not. How do you Paul benefit from me staking with you. Will I get the best returns with you?
I've also learned the hard way for keeping my crypto on exchanges.
Most pools will pay you the same over the long term. The pool owner earns a small % on the rewards so I would say choose a pool you like and want to support.
Cardano is on Coinbase, many people do not have access to Binance
Ya when I done this video last November it wasn't on Coinbase. I will do an updated one in the next week or 2.
Why doesn't coinbase support it?
That is the big question. There is no definite answer out there to why they don't yet but I would expect them to support it later this year
what is the point of staking it?? what rewards do you get???
On average about 5% year
Hello, why do you need another wallet and do not use the one from Binance?
When they are on an exchange you are never in full control as the exchange owns them and you have an IOU
@@CardanoWithPaul thank you