CARDANO: How to Install a Wallet [TUTORIAL/MY PERSONAL EXPERIENCE]

in Universo Binario7 months ago (edited)


Read the Article HERE, IN ITALIAN Language


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Hello Hive!

Today I wanted to share a short tutorial for informational purposes based on my recent experience. The theme is based on one of the oldest cryptocurrencies but which has always remained subdued: Cardano. Currently, it would seem little used by the entrepreneurial giants of the blockchain landscape, or at least by those who advertise their work quite insistently.

CARDANO

LEARN MORE HERE
Blockchain Project

Until a week ago I did not have an official Cardano wallet and reading about a recent possible airdrop I wanted to find out how to create one. I, therefore, decided to document the necessary steps during the creation of a wallet to create a new post, this time tagged UNIVERSO BINARIO, the community I created which has as its main objective to collect useful information for growth in the digital environment.

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First Step: Cardano yes, but with which wallet?

First I reached the official website of the project, looking for the keyword "Cardano" on the search engine.
The official site is reported as

https://cardano.org/

and inside you can find a lot of useful information about the project, an alternative blockchain to the gigantic and most used chains in the crypto field. The token of this blockchain, which would be better defined as a cryptocurrency, has ADA as its symbol. In order to receive or send it, it is necessary to create a wallet that I immediately discovered to be of multiple types.

To get info on the possible wallets linked to the project, I clicked on the writing at the top center of the page, "Individuals". This opens a drop-down menu from which you can choose from some resources intended for use by users. Among these resources, there are 2 wallets, DAEDALUS and YOROI.

Daedalus is a complete wallet that requires full synchronization with the Cardano chain to function. The pro is a higher degree of security, the downside is that the more the chain grows, the more memory it will consume on your pc.

Yoroi is a “light” wallet that keeps the copy of the chain on a third-party server, therefore subject to possible withdrawal if the server is compromised. On the other hand, it stays on your PC starting as an extension. If you have tried Metamask for the Ethereum blockchain ... yes, Yoroi is very similar.

I decided to opt for the second one, also because I don't currently have ADA sums to keep, and I don't want to weigh down the PC.

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YOROI WALLET

LEARN MORE HERE
Cardano Blockchain-Based Wallet
Free

To install Yoroi you need to reach the webstore, the place where you find the list of extensions available for your browser (the application you use to browse the web). If you click on the Yoroi Wallet item that appears in the drop-down menu described above, a page will open from which you can choose between the various webstores to reach, depending on the browser on which you want to install the Yoroi extension. The system in fact refers you to the official site of Yoroi, where you will find a button marked with the abbreviation "Download";

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clicking on it, a list of browsers will appear that you can click on. Choose the one you want to install Yoroi on and click. At this point, the webstore will open. In my case, Chrome.

IMPORTANT NOTE: if you use BRAVE browser, you still have to choose Chrome, as the 2 use the same IT foundation. Click on “Add” and wait for the process to finish. Usually, the deadline will be followed by a notification.

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We said extension

Yes, an extension: one of those apps that run internally in the search engine and that you can activate from a bar in the browser itself. In the image below you can better understand what I'm talking about.

In the navigation bar there is a small icon in the shape of a puzzle piece; clicking on it opens a list of extensions installed on your PC. After that, scroll through the items in the list until you find "Yoroi". At that point, click on the item.

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Yoroi works a little differently from Metamask because it takes you directly to the official website and to the wallet creation page. If you don't already have a Cardano wallet, you need to create one from scratch. How you do it? Don't worry and let's arm ourselves with attention.

Once on the site, the system asks us to enter our "language". Click on the panel you see in the center of the page and choose the one you prefer from the drop-down menu. In my case, Italian.

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At this point a new window opens in which we can choose between 3 options: import wallet to hardware wallet, import an existing wallet, or create a new wallet, as shown in the figure.

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We click on "create wallet”. A new window then opens, with 2 different items to choose from. One allows you to create a Cardano wallet, the other an Ergo wallet.
Ergo is a related project that I don't know much about at the moment, but in this case I leave it out because our attention is all on Cardano.

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Once you click on Cardano, a new window will open

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from where we have to indicate if we want to create a new standard wallet or a paper wallet. Being my will to create an extension wallet, click on create wallet.

At this point the classic part:

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we must enter the credentials of our wallet, that is a name and a password that will need to be repeated a second time before proceeding from the screen you see in the figure above.

Once done, click on create a personal wallet to open one of our last windows, the one that shows us the seed phrase.

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The seed phrase is a series of words in sequence that represents the master key with which it is possible to have access to our account again. It is essential to keep it in many copies and in safe places since its loss will lead you - for most blockchains at the moment - to the impossibility of accessing your account again following some situations that could occur.

Copy the words of the seed phrase and re-enter them in sequence in the next window. At this point, the system will respond with the last window in which it will emphasize the importance of keeping the seed phrase, and you will have to check the items after reading and understanding them if you want to proceed.

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Once done, the account will be created. Whenever you want to enter it, just click on the puzzle piece icon seen in the initial steps and then click on the Yoroi item. After confirming with your credentials, a page like this will open:

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where the circled areas show:

  • the first two at the top, respectively the name you have assigned to your wallet and the amount of ADA you have (0 at the time of creation);
  • the 2 in the middle of the page, the wallet address and the QR code associated with that address;
  • the last at the bottom, the area where you will find the list of addresses you have created (you can create them in the future by clicking on the "generate a new address" button, a little bit above)

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And that's it

But like any end, it always needs some notes.

This post was made for informational purposes only. I always invite anyone who wants to access the world of cryptocurrencies and the blockchain to document themselves independently and carefully, because they are potentially subject at all times to the irreversible loss of part or all of the capital spent/invested.
Furthermore, it is possible to provide the wallet addresses ... but NEVER PROVIDE your credentials (password or seed phrase) to third parties, under penalty of the possibility of losing the amount of your balance at that time or in the future.

And at this point I greet you, hoping to see you with some new posts in the new Universo Binario community. Any post that specifically deals with the digital world - through tutorials, experiences, or informative articles - will be welcome, as long as it respects the pillars of the community, rules that you find in the GUIDELINES POST of the community.

To the next, Hive!


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