This guide is designed to help you to restore your ADA from legacy Daedalus, Yoroi or Hardware 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 the instructions.
First of all, you need to create a new Daedalus wallet to load your funds from a legacy one. Ensure that you have the latest version of the wallet or download it from offical Daedalus wallet page.
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
.
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 wallet recovery phrase you will not get a chance to take your ADA back.
Next, you have to verify the 24-word Recovery Phrase you have just got from the system.
Wait for the wallet to be synced and then you can use it for new transactions or for moving your funds from restored legacy wallets.
1. Click the hamburger
icon to open the side-panel and click Add wallet
.
2. Click the Restore
button and select the type of the wallet. There are quite a few options you can use to restore the funds:
If you have used Yoroi wallet and now for some reason would like to try Daedalus, you can employ the “Restore Yoroi wallet” feature to move your funds to a newly created Daedalus wallet.
You can also restore your funds from Hardware wallets such as Ledger (Byron legacy wallet) or Trezor (Byron legacy wallet). However, read the recommendations provided by IOHK team carefully to avoid exposing your hardware wallet private keys to security risks.
Overall, the process is the same for each kind of wallet:
Add wallet
→ Restore
.Continue
.Please keep in mind there will be a small fee in ADA to make a transfer from Bayron legacy to the new Shelley wallet.
Once you have your funds in the newly created Daedalus wallet you can safely delegate them to a stake pool to start earning rewards
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
<h1 id="when-will-i-start-receiving-my-ada-rewards"><strong>When will I start receiving my ADA rewards?</strong></h1><p>Many of our community members have been asking around when they could start receiving rewards from delegated stake. And the short answer might be as follows: <strong><strong>you will begin receiving staking rewards three entire epochs after the epoch during which you delegated your ADA.</strong></strong> But let’s take a closer look at the delegation cycle.</p><hr><h2 id="delegation-cycle-explanation"><strong>Delegation Cycle Explanation</strong></h2><p>Below you can find a graph showing the delegation cycle on the <a href="https://cardano.org/?ref=p2p.org">Cardano</a> network.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/ApO8ZLR.png" class="kg-image" alt loading="lazy" width="1630" height="1182" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/ApO8ZLR.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/ApO8ZLR.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/ApO8ZLR.png 1600w, https://p2p.org/economy/content/images/2020/09/ApO8ZLR.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>First we need to determine a starting point. For example, <code>P2P</code> stake pool was registered on 11 August 2020. Thus, if you had delegated during the <code>210</code> epoch your stake would have been counted in the snapshot on the <code>210-211</code> epochs boundary.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/2.png" class="kg-image" alt loading="lazy" width="1630" height="1182" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/2.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/2.png 1600w, https://p2p.org/economy/content/images/2020/09/2.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>Once the snapshot is taken, we have to wait for the current epoch to be finished so that the stake becomes <strong><strong>active.</strong></strong> In our case we are going to wait for the <code>212</code> epoch.</p><p>During the <code>212</code> epoch the snapshotted stake becomes <strong><strong>active</strong></strong> and participates in the <strong><strong>block minting process</strong></strong> according to the Ouroboros consensus engine logic.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/3.png" class="kg-image" alt loading="lazy" width="1630" height="1182" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/3.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/3.png 1600w, https://p2p.org/economy/content/images/2020/09/3.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>In the following <code>213</code> epoch, the rewards will be calculated properly according to the stake size of each delegator.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/4.png" class="kg-image" alt loading="lazy" width="1630" height="1182" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/4.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/4.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/4.png 1600w, https://p2p.org/economy/content/images/2020/09/4.png 1630w" sizes="(min-width: 720px) 720px"></figure><p>Finally, you will be rewarded for your patience on the first day of the next epoch. In the <code>P2P</code> case it will be <code>214</code> epoch on August 28.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/5.png" class="kg-image" alt loading="lazy" width="1630" height="1182" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/5.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/5.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/5.png 1600w, https://p2p.org/economy/content/images/2020/09/5.png 1630w" sizes="(min-width: 720px) 720px"></figure><h2 id="takeaways"><strong>Takeaways</strong></h2><ol><li>Cardano is a long term investment so you have to make a decision about delegation/redelegation with caution.</li><li>You can terminate the delegation process at any moment by sending your funds from the staking wallet to a new wallet that wasn’t used for delegation. In this case you will not be rewarded for this epoch.</li><li>Once you make a change, for instance you added new funds to the staking wallet, the added stake will go through the delegation cycle from the very beginning.</li><li>Making change is a simple and safe process as any other normal transaction on the blockchain.</li></ol><hr><h1 id="about-p2p-org"><strong>About P2P.org</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading <strong><strong>non-custodial staking provider</strong></strong> 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 <strong>3<strong> </strong>b<strong>illion of USD</strong></strong> value. At the time of the latest update, P2P Validator is <strong><strong>trusted by over </strong>10,0<strong>00 delegators</strong></strong> across 25+ networks. We are a major player in all networks we support because of our experience, commitments and our <strong><strong>reputation</strong></strong>. We pay special attention to the process of <strong><strong>governance</strong></strong>.</p><blockquote><em><em>Our aim is to provide a secure and reliable service at the lowest cost <strong><strong>maximizing rewards for our delegators</strong></strong>.</em></em></blockquote><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Slava via [email protected]. We are always open for communication.</p><hr><p><strong>Web</strong>: <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2P/polkadot?ref=p2p.org"><a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></a></p><p><br></p>
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<p>This guide explains how to start delegating ADA (Cardano) and earning rewards with the official full node Daedalus wallet.</p><hr><h2 id="install-daedalus"><strong>Install Daedalus</strong></h2><ol><li>Go to <a href="https://daedaluswallet.io/?ref=p2p.org#download">Daedalus wallet</a> page and download the latest version of the wallet</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/1-9.png" class="kg-image" alt loading="lazy" width="1345" height="790" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/1-9.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/1-9.png 1000w, https://p2p.org/economy/content/images/2020/09/1-9.png 1345w" sizes="(min-width: 720px) 720px"></figure><p>2. After the download is completed, unpack and install Daedalus wallet on your system.</p><p>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.</p><p>4. Wait for Daedalus to sync. Since the blockchain is over 6GB it could take hours depending on your internet speed.</p><p>5. After the sync is over, you can proceed with the next steps.</p><blockquote><em><em>There might be issues with connections to the Cardano network, please see <a href="https://iohk.zendesk.com/hc/en-us/articles/360010522913?ref=p2p.org">https://iohk.zendesk.com/hc/en-us/articles/360010522913</a></em></em></blockquote><h2 id="create-a-new-daedalus-wallet"><strong>Create A New Daedalus Wallet</strong></h2><ol><li> After the sync has reached 100%, go to the dashboard and click the <code>Create</code> button.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/2-13.png" class="kg-image" alt loading="lazy" width="1909" height="997" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/2-13.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/2-13.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/2-13.png 1600w, https://p2p.org/economy/content/images/2020/09/2-13.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>2. Enter the name and password for the Wallet.</p><p>3. Create a spending password which will be required every time you do a transaction and click <code>Create Shelley wallet</code>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/3-10.png" class="kg-image" alt loading="lazy" width="1909" height="1000" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/3-10.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/3-10.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/3-10.png 1600w, https://p2p.org/economy/content/images/2020/09/3-10.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>4. At the next step, you will be prompted on how to use the 24-word Recovery Phrase. <strong><strong>Read it carefully since if you lose your recovery phrase wallet you will not get a chance to take your ADA back.</strong></strong></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/4-12.png" class="kg-image" alt loading="lazy" width="1914" height="1009" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/4-12.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/4-12.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/4-12.png 1600w, https://p2p.org/economy/content/images/2020/09/4-12.png 1914w" sizes="(min-width: 720px) 720px"></figure><p>5. Next, you have to verify the <strong><strong>24-word Recovery Phrase</strong></strong> you have just got from the system.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/5-6.png" class="kg-image" alt loading="lazy" width="949" height="445" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/5-6.png 600w, https://p2p.org/economy/content/images/2020/09/5-6.png 949w" sizes="(min-width: 720px) 720px"></figure><p>6. Wait for the wallet is synced and you can use it for new transactions or for moving your funds from restored legacy wallets.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/6-3.png" class="kg-image" alt loading="lazy" width="1918" height="1009" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/6-3.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/6-3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/6-3.png 1600w, https://p2p.org/economy/content/images/2020/09/6-3.png 1918w" sizes="(min-width: 720px) 720px"></figure><blockquote><em><em>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 <code>Import selected wallet</code> button and follow instructions.</em></em></blockquote><p><br><strong>Delegate To A Stake Pool</strong></p><ol><li>Once you have some ADA in the newly created wallet you can delegate them to the stake pool.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/7-2.png" class="kg-image" alt loading="lazy" width="1912" height="648" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/7-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/7-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/7-2.png 1600w, https://p2p.org/economy/content/images/2020/09/7-2.png 1912w" sizes="(min-width: 720px) 720px"></figure><p>2. Click on the network icon in the left side panel to open the delegation centre.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/8-2.png" class="kg-image" alt loading="lazy" width="1909" height="961" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/8-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/8-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/8-2.png 1600w, https://p2p.org/economy/content/images/2020/09/8-2.png 1909w" sizes="(min-width: 720px) 720px"></figure><p>3. Select the wallet which holds the ADA you wish to delegate to a stake pool and click the <code>Delegate</code> button.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/9-4.png" class="kg-image" alt loading="lazy" width="952" height="528" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/9-4.png 600w, https://p2p.org/economy/content/images/2020/09/9-4.png 952w" sizes="(min-width: 720px) 720px"></figure><p>4. The dialogue window will appear where you will be prompted with steps you need to go through. Click <code>Continue</code>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/10-3.png" class="kg-image" alt loading="lazy" width="955" height="583" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/10-3.png 600w, https://p2p.org/economy/content/images/2020/09/10-3.png 955w" sizes="(min-width: 720px) 720px"></figure><p>5. Choose a wallet with funds you want to delegate and click <code>Continue</code>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/11-1.png" class="kg-image" alt loading="lazy" width="946" height="823" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/11-1.png 600w, https://p2p.org/economy/content/images/2020/09/11-1.png 946w" sizes="(min-width: 720px) 720px"></figure><p>6. Search the <strong><strong>“P2P”</strong></strong> pool ticker if you want to delegate to P2P Validator stake pool, select and click <code>Continue</code></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/12-1.png" class="kg-image" alt loading="lazy" width="943" height="697" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/12-1.png 600w, https://p2p.org/economy/content/images/2020/09/12-1.png 943w" sizes="(min-width: 720px) 720px"></figure><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/13-1.png" class="kg-image" alt loading="lazy" width="946" height="619" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/13-1.png 600w, https://p2p.org/economy/content/images/2020/09/13-1.png 946w" sizes="(min-width: 720px) 720px"></figure><p>7. Enter your spending password, confirm the delegation and enjoy rewards.</p><blockquote><em><em>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 <code>Rewards</code> tab.</em></em></blockquote><h1 id="about-p2p-org"><strong>About P2P.org</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading <strong><strong>non-custodial staking provider</strong></strong> 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 <strong>3<strong> </strong>b<strong>illion of USD</strong></strong> value. At the time of the latest update, P2P Validator is <strong><strong>trusted by over </strong>10,000<strong> delegators</strong></strong> across 25+ networks. We are a major player in all networks we support because of our experience, commitments and our <strong><strong>reputation</strong></strong>. We pay special attention to the process of <strong><strong>governance</strong></strong>.</p><blockquote><em><em>Our aim is to provide a secure and reliable service at the lowest cost <strong><strong>maximizing rewards for our delegators</strong></strong>.</em></em></blockquote><hr><p>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact Slava via [email protected]. We are always open for communication.</p><p></p><hr><p></p><p><strong>Web</strong>: <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter</strong>: <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram</strong>: <a href="https://t.me/P2P/polkadot?ref=p2p.org"><a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></a></p>
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