Instructions to set up a Yoroi Wallet
Yoroi is available for mobile or as a browser extension, known as a lite wallet.
The Yoroi Wallet can synchronise with both browser and mobile and is the most versatile wallet for staking Cardano ADA.
First, go to https://yoroi-wallet.com/#/
Choose DOWNLOAD – for this example we will download for Chrome (this example uses Brave browser which is similar to Chrome)
Install the extension to your browser and click the confirmation prompts.
Once installed, click on the extension to begin the wallet creation process.
Now enable payment URLs and choose Create Wallet
Pick Cardano as the Currency/Platform and click Create Wallet
Enter a name for the wallet and a password which is only used to send ADA from the Wallet on this device. When you continue, you will be given a Recovery Phrase so dont allow others to see the next screen.
*** This next step is the most important step! ***
This 15 word Recovery Phrase is the only way to restore your wallet, not only that, anyone with this Recovery Phrase can take your ADA, so do not put it online, or somewhere on your computer.
Write it down on a piece of paper, engrave it to a piece of steel and hide it in the wall of your house or somewhere extremely secure. This is the only way to access your Wallet. If you lose these 15 words, you will not be able to access the wallet, except from a device you have already restored it too (if you have one).
Note that when you use the Recovery Phrase to restore a wallet you set a new password, so this is more important to keep safe than the password
In Yoroi when you confirm your Recovery Phrase you just click them in the correct order to confirm you have them written down in the correct order.
Once you enter your Recovery Phrase successfully, you are given a final warning that your Private keys are kept exclusively on this device and that if the application is moved or deleted, your ADA can only be recovered by using the Recovery Phrase that you wrote on 3 pieces of paper and hid in three different secure locations for redundancy.
Congratulations! you have successfully created your wallet, it is time to transfer funds from your exchange account to your wallet where they can be staked.
Select the Receive Tab from the Yoroi Browser extension.
There is only one address available from the get-go but you can create unlimited receive addresses for your wallet. For now, choose the receive address that is unused.
Select the ‘Copy to clipboard’ icon highlghted in the image below.
Now, with the address copied from your Yoroi wallet, go to your exchange wallet where you purchased.