Transfer ADA from central Binance exchange to your light Wallet Yoroi. Become part of decentralization and get ready for staking.
Welcome to our guide on staking ADA, the native cryptocurrency of the Cardano blockchain! Staking ADA allows you to actively participate in the network's consensus mechanism, contribute to its security, and earn rewards in the process. In this guide, we'll walk you through the process of transferring ADA from Binance, one of the largest cryptocurrency exchanges, to your Yoroi Wallet, a lightweight wallet optimized for Cardano. By completing these steps, you'll not only secure your ADA holdings but also prepare them for staking, becoming an active participant in Cardano's decentralized ecosystem.
1. Get Your Yoroi address:
1.1 Open Yoroi app on your device
1.2 Click on your wallet from the dashboard
1.3 Navigate to the Addresses section
1.4 Copy your Yoroi address starting with addr1.....
2. Transfer ADA from Binance to Yoroi Wallet
2.1 Login to Binance
2.2 Navigate to your Fiat and Spot Wallet (Wallet -> Fiat & Spot)
2.3 Click on Withdraw
2.4 Enter your Yoroi address and select network ADA
2.5 Complete the transaction by confirming the details and sending the ADA
NOTE: Transaction fee should be 1 ADA for Binance as of 9/2021
NOTE: Once you received your ADA in Yoroi, you can start staking.
3. Staking ADA with Yoroi Wallet
3.1 Launch Yoroi app on your device
3.2 Click on your wallet
3.3 Navigate to staking center
3.4 Search for staking server such as CRYL
3.5 Click on delegate and enjoy staking
NOTE: It takes 2 epochs till staking is active
