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Daedalus Wallet. Download and customize Cardano ADA wallet
Daedalus, a technology from the Swiss-based Cardano Foundation, was introduced in the second half of 2015. It is an open-source platform for the ADA coin of the Cardano blockchain network.
For storing Cardano, the Daedalus wallet provides state-of-the-art security measures. High-tech features protect all your activities, while high-tech encryption and passwords ensure the anonymity of user information and protect it from hacking and malware.
Download Daedalus Wallet
To get started, you will need to download the Daedalus wallet. Click the following link to open the download tab:
Do not download Daedalus or any other wallet from unreliable, unofficial sources. Scammers may create fake versions of Daedalus and try to convince you to download the wallet from another site. If you download Daedalus from an unreliable source, your ADA currency is at serious risk of theft.
Note that Daedalus does not yet have a mobile app. After the download is complete, double-click on the package with the installer file “daedalus-mainnet”. The installation will then begin. Once the installation is complete, use the newly created desktop icon to launch the Daedalus app.
Before clicking Continue, you must select your preferred language, number format, date format, and time format. You only need to do this the first time you open Daedalus.
As with any other regular app, you will be prompted to read the terms of service. Click “Continue” if you agree to the terms of service. To confirm your agreement, check the box at the bottom of the window.
When you open a Daedalus wallet, the dashboard will be visible. In addition, Cardano and the blockchain will start synchronizing. Pay attention to the synchronization indicator in the upper right corner of the window.
Creating a new wallet
You create your first wallet during a blockchain upgrade. Click the “Create” button on the dashboard, then give your new wallet a name. You will also need to come up with a “spend password”. This password will need to be entered every time you send ADA coins, include your wallet in a stub fund, or register to vote.
Only by recovering your wallet with the 24-word recovery phrase you will receive in the next step will you be able to reset your expense password. After entering your name and password, click the “Create Shelley Wallet” button.
Wallet Recovery Phrase
The most responsible step in creating any cryptocurrency wallet is to securely protect Recovery’s words. At this stage of setup, make sure that no one can see your screen and read the instructions carefully.
The value of recording the Daedalus wallet recovery phrase, which consists of 24 words, cannot be overstated. It is not recommended to save and write down the recovery phrase. It is best to keep it offline, on paper. If you lose your 24-word wallet recovery phrase, you will not be able to access any of your ADA coins. This is the only way to record the recovery phrase, as it cannot be changed, reset, or ignored.
Finally, the 24-word recovery phrase must be entered and confirmed a second time.
You’ve created your Daedalus wallet.
All that remains is to purchase some ADA coins on the exchange of your choice.To receive, click on the wallet symbol on the left. Select the address you want to use to receive payments. The addresses highlighted in gray have already been used. Click on the “Copy Address” button on the right to quickly copy the selected address to your computer’s clipboard.
To withdraw coins, select the “Send” option to send ADA coins. This will bring up a form to fill out where you can enter the recipient’s address and the amount you wish to send to that address. Enter the recipient’s address in the appropriate field, then click “Next”.
Daedalus Wallet Review
Pros of using Daedalus wallet:
Daedalus Wallet offers six different themes from which the user can choose the one that suits their needs.
Additional Security: As a decentralized, non-custodial, full-node wallet, the Daedalus wallet provides an additional layer of security.
Daedalus wallet users have the ability to put their ADA tokens on the card to generate passive, interest-bearing income.
Cons of using Daedalus wallet:
The Daedalus wallet is not compatible with mobile devices, which is a drawback for customers who want to use their cell phones to remotely access their cryptocurrency assets.
Single Cryptocurrency Support: Investors looking to manage a number of cryptocurrencies on a single platform are better off not using the Daedalus wallet, as it only supports the ADA coin.
Due to the lack of third parties supporting funding via currency or bank cards, the Daedalus wallet can only be funded via peer-to-peer methods.
In conclusion, despite its high security rating, Daedalus wallet only accepts ADA cryptocurrency.
The wallet features full node capability, which allows for independent verification of transactions by loading the entire Cardano blockchain. This makes it an optimal option for those who need software wallets with additional security, in addition to being a non-custodial and hierarchical deterministic wallet.
Since there is only a desktop version of the wallet and it only supports one cryptocurrency, it’s not the best option for cryptocurrency investors who want to either manage multiple cryptocurrency portfolios on one platform or have mobile access to their funds.
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