How To Stake Ada
How To Stake Ada
Staking ADA with DYNO is a simple process, though it involves a few key steps. If you're new to cryptocurrency, there's a lot to learn—but don’t worry. This guide will help you get started with the basics.
The first step is to choose a compatible Cardano wallet. There are many options with varying features. For beginners, we recommend 'light' wallets that don’t require downloading the full blockchain, making them easier to set up. Popular choices include the Eternl mobile wallet (available on Google Play and iOS App Store) and Lace Wallet (browser extension).
For advanced users, Daedalus is the full-node wallet requiring the full blockchain download (~179GB), which is resource-intensive and usually not recommended for casual users.
To stake with DYNO, you need ADA, the native cryptocurrency of Cardano. You can acquire ADA via some wallets or more commonly through centralized exchanges (CEXs) like Coinbase, Kraken, or Binance.
Note: Exchanges require personal information for compliance with regulations and typically require bank account linkage.
Remember the principle: "Not your keys, not your crypto." To fully control your ADA, transfer it to a self-custody wallet.
After transferring your ADA to a self-custody wallet, you can delegate (stake) it with DYNO. Simply open your wallet, select DYNO from the available stake pools, and follow the prompts. You’ll enter your spending password, and a transaction will be recorded on the Cardano blockchain to register your stake.
Congratulations! By staking with DYNO, you’re helping to decentralize and secure the Cardano network.
If you have any questions or need assistance, feel free to reach out through our Contact Us page.