Cardano(ADA) is currently in the top 10 coins we have right now based on marketcap, due to Cardano(ADA) being one of the biggest contenders against other smart contract platforms like Ethereum and EOS. So while waiting for Cardano(ADA) to be developed by the team and also while waiting for it to rise in price, we heavily suggest that people should make sure that their ADA holdings are safe enough for long term storage.

If you’re looking for a guide for that specific reason, you’ve come to the right place.

Table of contents:

  1. Storing your ADA using the Daedalus wallet
  2. Storing your ADA using the Yoroi wallet
  3. Storing your ADA using the Atomic wallet
  4. Storing your ADA using the Ledger Nano S/Nano X 

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1. Daedalus wallet

Downloading and running the Daedalus wallet

  1. Head over to daedaluswallet.io/#download
  2. Select the installer for your platform. The Daedalus wallet only currently supports Windows and OSX devices, though the Linux installer is almost ready based on the Cardano Roadmap
  3. Install the Daedalus installer
  4. Run Daedalus, and wait for it to completely sync. This can take time depending on your internet speed.To potentially increase the speed of the synchronization, try adding an exclusion of the Daedalus installation folder using your anti-virus. C:\Program Files\Daedalus

Create and backup your wallet

  1. Select “Create a new wallet
  2. Enter your wallet name. You can simply name the wallet whatever you want. You can change this later. For now, we’re just simply name it as “Cardano Wallet
  3. Enter a password. This password will be used when sending transactions and creating new addresses.
  4. Click on “Create personal wallet
  5. You wallet’s 12-word recovery seed will now be displayed. Click on “Continue“.
  6. Your 12-word recovery seed is now being displayed. Write down the words on a piece of paper accurately and legibly; and NO. Do NOT save your recovery seed on a word file, a text file, or anywhere digital. WRITE IT DOWN.
  7. Click on the “Yes, I have written it down” button
  8. Click on the words displayed on the correct order, to verify your written down recovery seed
  9.  Check both checkboxes and click “Confirm

After following these steps, you can now withdraw the ADA that you’ve bought on your preferred exchange. To get access to your Cardano wallet’s address, head back to the Daedalus wallet and click on “Receive“. Your wallet’s address will then be displayed.

2. Yoroi wallet

The Yoroi wallet is only currently supported on the Google Chrome and the Brave browser. For security and privacy sake, we heavily suggest using the Brave browser instead.

Download the Yoroi Wallet

  1. Open your Chrome or Brave browser
  2. Head over to yoroi-wallet.com and click on “Download Chrome Extension
    Note: The Yoroi Chrome extension also works on the Brave Browser
  3. Install the extension
  4. A Yoroi Wallet extension icon will then appear on the right side of your browser’s address bar.
  5. Click on the Yoroi wallet icon
  6. A browser window will then open. Select your preferred language.
  7. Read the ToS, then continue.
  8. Click on “Create a new wallet
  9. Enter your wallet name. You can simply name the wallet whatever you want. You can change this later. For now, we’re just simply name it as “Cardano Wallet
  10. Enter a password. This password will be used when sending transactions and creating new addresses.
  11. Click on “Create personal wallet
  12. Click on the check box, then click “Continue
  13. Your 12-word recovery seed is now being displayed. Write down the words on a piece of paper accurately and legibly; and NO. Do NOT save your recovery seed on a word file, a text file, or anywhere digital. WRITE IT DOWN.
  14. Click on the “Yes, I have written it down” button
  15. Click on the words displayed on the correct order, to verify your written down recovery seed
  16.  Check both checkboxes and click “Confirm
  17. Click on the “RECEIVE” tab. Your wallet’s address will then be displayed.
  18. You can now withdraw your funds from your preferred exchange.

3. Atomic Wallet

Atomic wallet is a “Universal Multi-Assets Wallet”; pretty much a single wallet that could hold multiple coins and tokens, with the feature of exchanging your coins and tokens to other coins and tokens without even withdrawing your funds.

Download the Atomic wallet

  1. Head over to https://atomicwallet.io/downloads and select your device’s operating system.
  2. After downloading and installing the file, run the launcher.
  3. Click on “NEW WALLET
  4. Choose a wallet password, then click on “SET PASSWORD
  5. Your 12-word recovery seed will then be displayed. DO NOT copy the words digitally. Write them down on a piece of paper.
  6. Your multi-coin wallet will then be displayed. Simply search on “cardano” to easily view your address

4. How to Store Your Cardano(ADA) on the Ledger Nano S/Nano X

To be able to store your Cardano using your Ledger Nano S or Nano X, make sure that you’re device is on Firmware version 1.5.5 or newer.

  1. Open up Ledger Live, and make sure it’s software version is up to date.
  2. Head over to the Manager section on the left side bar, and search on “Cardano”, then click on Install.

Download the Yoroi Browser plugin

  1. Open your Chrome or Brave browser
  2. Head over to yoroi-wallet.com and click on “Download Chrome Extension
    Note: The Yoroi Chrome extension also works on the Brave Browser
  3. Install the extension
  4. A Yoroi Wallet extension icon will then appear on the right side of your browser’s address bar.

Using the Yoroi Wallet

  1. Open the Cardano app on your Ledger device
  2. Click on the Yoroi wallet icon
  3. A browser window will then open. Select your preferred language.
  4. Read the ToS, scroll down then continue.
  5. Click on “Connect to Ledger Hardware Wallet
  6. Click on “Next
  7. Click on “Connect

    Note: If the connection fails, try uninstalling and reinstalling the Cardano app, and the Yoroi browser extension.
  8. Wait for your wallet to load
  9. When the “Export public key” screen on your Ledger device is displayed, press both buttons on your Ledger device to confirm, then press accept.
  10. Enter your preferred wallet name
    Click on “Save
  11. Finally, click on the “RECEIVE” tab, and your wallet address will then be displayed. You can now send over your funds.

Which wallet is the safest?

When using wallets that are installed on your computer or mobile device, there’s always a chance of hackers gaining access to your wallet’s private keys, no matter how secure you think your device is.

As always, regardless of what coin or token you’re storing, a hardware wallet like the Ledger Nano S or the Ledger Nano X is always heavily recommended. Since your private keys are locked into the hardware wallet device, your funds are safe even if your computer has hundreds and thousands of malware/viruses in it.

Final Thoughts

That’s pretty much it. You should be able to store your Cardano(ADA) on your own wallets if you followed any of the instructions above. This is just the beginning though, as no matter how secure your funds is, you can still lose your funds if ever you fall for some tricks that scammers and hackers have. People get hacked and scammed all the time. We heavily suggest that you educate yourself on the common cryptocurrency scams, just to make yourself aware.





Ledger Nano X - The secure hardware wallet

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Marc G

Loves talking about cryptocurrencies, finance, investing, and gaming economies.

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