Updated: May 23
Yoroi is the light wallet for Cardano. In Yoroi wallet you don't need to download the entire chain data to your system and synchronize your wallet with the mainnet. Also it takes very less time than Daedalus wallet to get synchronize. I have already made a comparison between these two wallets. You can read here.
Go to Prime Stake Pool website and click on 'Get the Wallet' tab. Now choose Yoroi wallet. You need to add the Yoroi wallet as chrome browser extension. Make sure that you are not in the incognito mode otherwise you won't be able to add the Yoroi wallet extension to your browser. So click on chrome browser icon under Yoroi. You can also directly visit the Yoroi wallet website here.
It will take you to chrome web store. Click on add to chrome.
Click add extension to confirm.
You can see I have two browser extension wallets Metamask and Yoroi. You can pin, unpin wallets as per your requirements.
Click on Yoroi wallet to open.
Now on Yoroi wallet choose english as your language.
Agree terms and condition.
Choose user interface. Let's choose simple user interface.
Skip Cardano payment urls for now. We can do this later in settings also.
So we have the following options: 1) Connect to hardware wallet 2) Create wallet 3) Restore wallet. As I already have wallet in Daedalus I'm not going to create any wallet. So I'm going to restore my wallet. Click on restore wallet.
Pick Cardano as platform.
Now restore wallet using word phrase. As I already have 24 words recovery phrase in Daedalus I will use it to recover my wallet in Yoroi. So click on 'enter a 24-word recovery phrase'.
Put some wallet name. Enter the 24 words recovery phrase. Create new spending password. Then click on restore wallet.
Verify restored wallet checksum and address. Check if it matches with your Daedalus wallet. Now click confirm to proceed.
It will take around 2 minutes for the transactions to show up.
Now you can see the transactions made. You can also see the ADA balance I'm having. That means my wallet has been successfully restored.
This is how the dashboard panel looks like.
Now click on 'delegation list' tab and you find list of pools you can delegate to. You can sort pools based on score and ticker. You can also search pools by name or id.
So let's search PSP in the search bar and you can see the details of the pool.
You can also find your desired pool by id in the tab 'delegation by id'.
Copy the PSP pool id from the primestakepool website or from adapools website.
Paste it on 'stake pool id' bar and click next.
Now it's processing and fetching pool information.
Prime Stake Pool is found with pool id. You can visit the pools website for more details.
Now we will delegate by searching PSP in search bar again. Click on delegate.
Now it's processing and generating transaction.
Now put the amount of ADA you want to delegate. Transaction fees and expected rewards are also mentioned. Put the spending password and click on delegate to delegate to the pool. Please note that in Daedalus wallet you need to have minimum 10 ADA to delegate but in Yoroi wallet you can stake with any amount.
So now it is successfully delegated. You can track the status of the stake pool and the amount of time remaining to receive a reward from the dashboard page.
On the dashboard you can see total ADA you are having, total ADA you delegated to the pool and total rewards you have earned. Also shown the upcoming rewards and the stake pool you delegated to. Since I delegated in epoch 247, so my ada will be in live stake and after one more epoch i.e. in epoch 249 it will be in active stake. I will start getting rewards after one more epoch consecutively. That means from epoch 251 onwards I will get rewards consecutively.
Visit adapools website to see the status of your delegation. You can click the link on primestakepool website or visit the adapools website here.
On adapools website see the status of your delegation.
You can see in epoch 247, which is the current epoch, your ADA has been delegated to PSP.
You can also see the youtube video on how to stake in Yoroi wallet here.
Support us. Let's grow together. See you in the pool.