Steps for newbies to crypto and want to start with Cardano ADA
Steps for a newbie:
1. Download Yoroi to smartphone (Yoroi is created by Emurgo one of the original Cardano companies).
2. Create a personal 'Shelley' wallet in Yoroi (preferably linked to a hardware wallet like a Ledger Nano X).
3. Buy some ADA from an exchange (Coinbase is one of the biggest).
4. Transfer the ADA from your exchange wallet to your personal wallet in Yoroi.
5. Stake the ADA from your personal wallet to a Stake Pool via the delegation centre in Yoroi (the ADA never leaves your wallet so is perfectly safe you are effectively just delegating your votes).
Optional Bonus Step
\*1. When selecting your stake pool choose a pool with low saturation and low fees. This will save you having to re-delegating in future (stakepools can overfill just like real pools and the rewards lower). This step means you can sit back and relax HODLING your sweet sweet ADA!
The Cardano Foundation’s Delegation Methodology is Changing
The Cardano Foundation would like to make an announcement regarding our delegation methodology. As many of you may be aware, our current d...