Cardano Explained Without Jargon & Within 199 words
By staking your ADA you will earn rewards passively.
Step 1: Buy some ADA
You can buy ADA at crypto exchanges. Here are the biggest and how to use them to buy ADA:
Coinbase.com (can buy directly using Fiat)
Binance.com (will have to buy Bitcoin first then sell it for ADA)
Step 2: Send your ADA to your Cardano Wallet
To be able to stake your ADA, you first need to send your ADA from your Exchange wallet to a native Cardano wallet. It's not hard to install a Cardano wallet, but please make sure you follow all steps carefully and specially write down the recovery phrase! I prefer the "Yoroi"-wallet:
Download here: yoroi-wallet.com How to create a new ADA wallet:
How to send your ADA from Binance.com to your new ADA wallet:
Step 3: Delegate your ADA
OK! Now that you got your ADA in your Yoroi wallet, its time to stake it. You do that by "delegating" your ADA to a Stake Pool of your choice.
If you would like to support us and our causes we appreciate you selecting our stake pool: ADA4Good.
Instructions to delegate your ADA using Yoroi Wallet:
And here for the Daedalus Wallet:
If you have more questions about Cardano or Staking Cardano, simply join our Discord server and ask me anything!
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