Yoroi Staking Guide
Overview
Yoroi is a light browser extension and application wallet compatible and integrated with the Cardano and Ergo blockchains. The simple to use wallet has a great user interface and makes it easy for users to take advantage of its delegated staking features though its connection to trusted Cardano nodes hosted by third parties. It is highly recommended to ensure that any application is downloaded from the official Yoroi website as there are fake and fraudulent copycat websites.
Yoroi Staking Instructions
1. Install Yoroi Wallet
Navigate to the official Yoroi website and select download the application to your Browser or Device. If you have not yet set up a Yoroi Wallet click here to view our helpful guide. Once the application has been downloaded and installed follow the steps to set up the wallet.
2. Deposit ADA to your Yoroi Wallet
Now that you have set up the wallet, deposit ADA to your wallet address so that you are ready to begin staking. If you have not yet purchased ADA, check out our trusted and recommended exchanges by clicking here. It is worth nothing that there are minimum contributions for some pools as well as a small set up fee, this is all public information and viewable before depositing assets, see next step for more details.
3. Select your ADA delegate
Within your Yoroi Wallet, click on “Delegation List” on the top menu to select a pool to start staking ADA. It is possible to browse through all pools that are listed, and you can search for a specific pool by its ID or Ticker. A breakdown of the expected APY, fees, pool size and trust as well as expected return for users are clearly displayed, making it easier to select the best pool for your coins depending on your preferences.
4. Confirming Your Delegation
As seen in the image below, you can delegate any amount of ADA to your chosen pool. There is a small fee charged covering the transaction and set up with the pool, in the example its 2.1886 ADA. You can see the approximate rewards in ADA that are estimated per epoch which is around 5 days. When ready continue by pressing Delegate and congratulations you have now staked ADA and will begin to receive rewards.
