I have been keeping my ADA tokens in Ledger Nano S (using Yoroi extension) since 2019. Needless to say all those ADA tokens are still in Byron era wallet.
I am not very tech savvy. I am not planning to stake ADA or make any transactions in the near future. In fact for more than one year I haven’t touched my Ledger Nano S. I just wanted to keep my ADA tokens for the long term and cash out when the opportunity arises. I will only need to sell those ADA tokens probably in a year, by the end of 2021, depending on the price action of ADA.
My question (and slight worry) is will my ADA tokens remain safe and sound in the Byron era wallet? Is there for example a time window during which all ADA token holders must migrate their tokens to Shelley era wallets and if they don’t do that their ADA tokens will be lost? I am planning to upgrade to Shelley era wallet and transfer my tokens there only when I plan to cash out, which is in a year from now. Until then I don’t want to touch my Ledger Nano S. Is this fine? Or is there some urgency to upgrade from Byron to Shelley regardless of whether I intend to use those ADA tokens in the near future?
I would greatly appreciate your help.