You can stake your ADA and earn REWARDS using either Daedalus or Yoroi wallet. We have prepared a step by step guide on how you can easily stake your ADA within minutes. Just follow the guide and start earning rewards for your staked ADA.
It does not matter what wallet you choose. Just use the one you like the most 😉. Daedalus and Yoroi wallet are both trusted partners of Cardano Foundation.
Watch this VIDEO about CARDANO, why should you buy CARDANO and STAKE IT.
BULL POOL rewards road map.
How to delegate through Daedalus
Step 1: Download Daedalus.
Go to https://daedaluswallet.io/en/download/ and download Daedalus onto your computer.
Step 2: Create a wallet.
Once you have downloaded Daedalus, open the program and create your first wallet.
Here, you can input the name of your new wallet. For us, we will call it ‘BullPool Test’.
You will then need to input your password and click ‘confirm’. You have just created your first wallet.
Step 3: Write down your recovery phrase.
Check the box and click Continue.
You will now see 24 words. These 24 words are your ‘recovery phrase’. This is the only thing that will help you restore your wallet if something happens to your computer. NEVER store this phrase online (this includes taking a photo of it on your phone). We recommend that you write it down on a piece of paper, and then make multiple copies that you can hide in various places. For example, you could have one at home, one at work, and one in your car. Nobody else should have access to your recovery phrase because if someone got hold of it, they could steal all your funds. As long as you keep your password and recovery phrase safe, then you are good to go.
Click ‘Yes, I have written down my wallet recovery phrase’. Now type it into Daedalus, exactly the same as it’s written, and click ‘Confirm’.
Check both boxes and click ‘confirm’.
Step 4: Sync Daedalus to the blockchain.
Once you have created your wallet, it needs to be synced with the Blockchain.
If you made your first wallet on your computer this can take a while. But, if you already have a wallet from before, this should take around 15 minutes.
Step 5: Send your ADA to Daedalus.
Now that we have our wallet synced up with the blockchain, we can finally send ADA to it.
Go into your wallet and click ‘receive’.
Here you will find your addresses. Click on one of the addresses and copy it.
It is recommended that you use this address only once. Next time, copy a different one.
Now, go to your exchange and send your ADA to this address. Be very careful that you send your ADA to the exact address you copied because if you misplace just one number or letter you will send your ADA to somebody else and you will never recover it. It shouldn’t take long before you see your ADA in your Daedalus wallet. It really depends on the exchange but once they send it, it will take a few seconds to arrive.
Step 6: Go to Delegation Centre
Now that we have our ADA in our wallet we can start staking to receive rewards.
Go to your delegation centre and click on ‘delegate’.
Step 7: Search BULL1
Now you can search for ‘BULL1’. After it pops up, click on it and press ‘delegate’.
Step 8: Type your spending password
Now just enter the password you used when creating your wallet.
Step 9: Pay the fee
Pay the one-time fee. Congratulations, you are now delegating your ADA to Bull-Pool.
Step 10: YOU ARE FINISHED
Now you just have to wait 15-20 days for your first rewards. You can find them in the Delegation Centre, and then in Rewards. Your rewards will be added automatically to your staked ADA. In other words, you can just set it and forget it.
If you are curious about how much ADA you will make, you can use the official Cardano Calculator here: https://cardano.org/calculator/?calculator=delegator
How to delegate through Yoroi Wallet
Step 1: Install Yoroi To your browser
Go to https://yoroi-wallet.com and add Yoroi wallet to your browser.
Step 2: Create a wallet
Click on create a wallet. Choose Cardano and click “create a wallet” once again.
On the next step choose CARDANO.
Step 3: Enter your wallet’s name and password
Now let’s enter our wallet’s name and create a password. Be sure to set up a long secure password so nobody can get inside your wallet and send Ada. And click ‘Create Personal Wallet’
Step 4: Get your recovery phrase
After the countdown click ‘Continue’.
Now you should see 15 random words on your screen. These words are called your recovery phrase. This recovery phrase is very important. If something happened to your computer this is the only way how you could get back in your wallet. So write down these 15 words on a piece of paper.
We highly recommend not to store your recovery phrase online. The best and most secure way is to write it down on a piece of paper and hide them in different locations. For example one at home, one at work, and one in your car. Also, make sure nobody else can see this recovery phrase. Because if they did, they could steal all your funds as well.
Step 5: Repeat your recovery phrase
Now that you have written down all of the 15 words you need to click on them again in the same order. This step ensures that you wrote down your recovery phrase correctly.
After you complete this last step; congratulations! You’ve now created your first Yoroi wallet. Unlike Daedalus, you don’t need to download the whole blockchain to your computer so you can use your wallet instantly.
Step 6: Receive Ada
Once you created your wallet, go to the main page and click on receive and copy your address.
Now that you have your address you can send some Ada to it. So go to your exchange and send your Ada to this address. It should be really straightforward. After you send your Ada from the exchange it shouldn’t take long before you can see your funds in your wallet.
Step 7: Delegate to bull pool
Now that you have your funds in your wallet you can finally stake your Ada. So, go to the delegation list and search BULL1.
We should be the only pool that pops up so click Delegate on the right side of the screen.
Here enter how much Ada you want to stake and type your spending password. You will have to pay 2 Ada fee for the transaction. After you enter your amount and password click “delegate” and voila you just delegated to BULL POOL.
Step 8: You are done
Your rewards will be added automatically to your staked Ada so you can just set it once and forget about it!
How to use YOROI MOBILE
If you’d like to store your Ada on your phone you can. The process is very similar. You just need to download the Yoroi in the App Store or Google Play and follow the steps.