Frequently asked questions
Find information about everything related to staking.
How to buy Cardano ADA token?
Create an account at the exchange. Use Kraken or Coinbase, avoid Binance. Fill up your exchange balance with FIAT currency. Check the exchange fees. Bank transfer usually costs less than credit card payment. Use the balance to buy, convert or trade into ADA.
How to set up your personal wallet?
Purchase a hardware wallet - Ledger Nano X.
Initialize your hardware wallet according to the included instructions.
Log into any Cardano web-wallet using your Ledger device. Trusted web-wallets are: Adaly, Yoroi and Adalite. Verify the site address in the navigation bar and log in.
How to transfer ADA to your wallet?
Log in to your web-wallet. Pick any of the receiving addresses (starts with addr1...). These addresses do not expire and can be re-used.
There is an address verification function built into your Ledger device. You can verify that the address given by the web-wallet is the same as the address in your hardware wallet.
Send your ADA from the exchange to your receiving address. Start with a transfer of a small amount to confirm the address receives your transfer. Also, try to retrieve funds from your wallet. Learn how everything works.
How to stake your ADA to ADALY staking pool?
You can delegate your stake in any of the web-wallet like Adaly, Yoroi or Adalite. It has to be done only once per wallet. Go to the Staking section and pick the ADALY staking pool using the pool ID bed7baef960d110f25030bec52fbeccdea1800a00e41dd7dbc400b38. Cardano staking takes 2 ADA deposit from your wallet, which will be refunded upon deregistering your stake.
When do I receive my first reward?
It takes 15-20 days, depending on which day (of the current epoch) you delegated, to receive your first reward. From there on, you will receive a reward after every successful epoch (5 days).