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How to delegate ADA (Cardano) using Daedalus wallet

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Admin

This guide explains how to start delegating ADA (Cardano) and earning rewards with the official full node Daedalus wallet.

Install Daedalus

  1. Go to Daedalus wallet page and download the latest version of the wallet

2.   After the download is completed, unpack and install Daedalus wallet on your system.

3.   Once the installation is done, launch the Daedalus app and go through simple steps such as: select your language, read and accept the terms and conditions etc.

4.   Wait for Daedalus to sync. Since the blockchain is over 6GB it could take hours depending on your internet speed.

5.   After the sync is over, you can proceed with the next steps.

There might be issues with connections to the Cardano network, please see https://iohk.zendesk.com/hc/en-us/articles/360010522913

Create A New Daedalus Wallet

  1. After the sync has reached 100%, go to the dashboard and click the Create button.

2.   Enter the name and password for the Wallet.

3.   Create a spending password which will be required every time you do a transaction and click Create Shelley wallet.

4.   At the next step, you will be prompted on how to use the 24-word Recovery Phrase. Read it carefully since if you lose your recovery phrase wallet you will not get a chance to take your ADA back.

5.   Next, you have to verify the 24-word Recovery Phrase you have just got from the system.

6.    Wait for the wallet is synced and you can use it for new transactions or for moving your funds from restored legacy wallets.

For those who have the previous Daedalus version wallets installed, there is an import feature which runs automatically and detects installed legacy wallets. Just select the wallets, click the Import selected wallet button and follow instructions.


Delegate To A Stake Pool

  1. Once you have some ADA in the newly created wallet you can delegate them to the stake pool.

2.    Click on the network icon in the left side panel to open the delegation centre.

3.   Select the wallet which holds the ADA you wish to delegate to a stake pool and click the Delegate button.

4.   The dialogue window will appear where you will be prompted with steps you need to go through. Click Continue.

5.    Choose a wallet with funds you want to delegate and click Continue.

6.   Search the “P2P” pool ticker if you want to delegate to P2P Validator stake pool, select and click Continue

7.   Enter your spending password, confirm the delegation and enjoy rewards.

Please keep in mind that your delegation will be counted two epochs later. Each epoch is exactly five days long. Therefore, you will begin receiving staking rewards after 10 days. You can track rewards under the Rewards tab.
About P2P.org

P2P Validator is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only top-notch staking opportunities securing more than 3 billion of USD value. At the time of the latest update, P2P Validator is trusted by over 10,000 delegators across 25+ networks. We are a major player in all networks we support because of our experience, commitments and our reputation. We pay special attention to the process of governance.

Our aim is to provide a secure and reliable service at the lowest cost maximizing rewards for our delegators.

Do not hesitate to ask questions in our Telegram chat or contact Slava via [email protected]. We are always open for communication.

Web: https://p2p.org

Twitter: @p2pvalidator

Telegram: https://t.me/P2Pstaking

Admin

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