How to become a delegator in Cardano network
- Special Offer for big-delegator
- Follow the instruction How to become a VNA delegator
- VNA Pool never require your private key or seed phrases
- Delegate ADA does not require to transfer or send any ADA amount to Stake Pool
- Your key, your coin never share your key.
This guide will help you to become a delegator easily via using Yoroi wallet (an official wallet of Cardano)
After the App is downloaded and installed, open app -> Add Wallet (SHELLEY-ERA) -> Create wallet. Here we enter wallet name and spending password. Then, The app will show 15 words recovery phrases that stand for the password of your wallet. we should write them on paper carefully, or copy them somewhere safe. After have finished this, there will have a new wallet on the home page.
Chose the wallet will bring us to Epoch progress Screen. At this stage, we click on GO TO STAKING CENTER and search the VNA pool to stake your ADA. After that, enter the amount of staked ADA as you want and confirm the transaction.
Finally, after the transaction finish. there will have an attached Stake pool delegated on the screen. Note that your ADA is still in your pocket and you can make transactions as you want as usual and earn interests periodically as well.
To have ADA for the delegation purpose, we can buy ADA on Binance and send them to Yoroi wallet. The following are steps to send ADA from Binance to Yoroi wallet
Find your Wallet's public address. Go to receive section, and copy the address here.
Then open the Binance app, start to withdraw your ADA from Binance to your Yoroi Wallet. At this stage, paste the address above to the address text box, select Cardano network, and enter the amount of ADAs that you want to send to the wallet like the following. After that, click on Withdraw button. Here we recommend trying with small amounts first, then withdraw the rest after everything is fine
After Binance notify you that the transaction is successful, you can open Yoroi to check if your balance change as expected and proceed to make a withdrawal transaction with the rest amounts
There are several benefits of stake ADA on Cardano pools instead of the Binance Staking feature.
- Annual Percentage Yield without locking assets
- Auto increase delegated amounts by adding interests
- Safety, since your ADA is managed by yourself, not Binance anymore. This is good in case Binance is hacked...
- Become a part of the Cardano blockchain network.
https://docs.cardano.org/new-to-cardano/how-to-delegate
