How To Set Up A Daedulus Wallet
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How To Set Up A Daedulus Wallet
*Disclaimer: This is not financial/investment advice, merely a tutorial on how to store Cardano (ADA) in a Cardano Wallet. As always…
Reading time: 5 min read
Disclaimer: This is not financial/investment advice, merely a tutorial on how to store Cardano (ADA) in a Cardano Wallet . As always, conduct your own research, consult with a financial advisor, and/or conduct your due diligence before making any investment in cryptocurrencies.
What Is The Daedulus Wallet?
The Daedulus Crypto Wallet is a wallet that ensures security through locally stored wallets and encrypted private keys, not shared with any third party servers. Instead, the Daedulus Crypto Wallet installs a full Cardano Node , which stores the entire history of the Cardano Blockchain. It also allows more encrypted and secure transactions, and allows Cardano users and investors to stake their Cardano in stake pools. It offers complete control over your wallet without any dependency on third party networks and stores a paper wallet that allows for the offline storage of funds (making it impossible to access through hacks).
The Daedulus Crypto Wallet is also featured on the Cardano Documentation and has been praised for its security, efficiency, and features.
Disclaimer: The Cardano Times is in no way affiliated with the Daedulus Wallet or its affiliates. This is purely a tutorial on how to set up a cryptocurrency wallet. Please conduct your own research on any cryptocurrency wallet before signing up and/or transfering funds.
How To Set Up A Cardano Daedulus Wallet On Your Desktop:
- The first thing every Cardano user looking to install the Daedulus Crypto Wallet should do is ensure your computer can handle the system requirements needed to download and manage the Daedulus Application . Downloading the enitre blockchain and keeping it powers requires immense resources. Check if your computer meets the requirements here.
- If your device can meet the System Requirements, head to the Official Daedulus Wallet Website linked here and download the most up-to-date version of the Daedulus Crypto Wallet for your device’s Operating System (Windows, Linux, MacOS). Once the installation is complete, double-click the installer package and wait for the application to install.
- Once the installation is complete, open up the Daedulus Crypto Wallet which will open up the prompt to select your preferred language , number format , date format , and time format . Click the Continue prompt to proceed with the creation of your Crypto Wallet.
- The next prompt will ask you to agree to the Terms of Service , please read through it to the fullest extent and click agree only if you agree completely with the Terms of Service .
- The next prompt will bring you to the Wallet Dashboard , and the application will begin synchronizing with the blockchain to store a local copy of the entire blockchain to ensure the maximum amount of security. Click the prompt Create A New Wallet to continue with the verification process.
- The next prompt will ask you to create a Spending Password and give the wallet a name of your choosing. Please ensure your Spending Password is secure and strong before creating your Daedulus Crypto Wallet. Make sure your password is stored somewhere safely and is secure to ensure no one is able to access your Crypto Wallet. Then continue on to the next prompt.
- The next prompt will show you and ask you to write down and enter your Recovery Key Phrase for your Daedulus Crypto Wallet . This is one of the most important barriers of security in the event you lose your account or face some form of compromised security. Make sure your password is stored somewhere safely and is secure to ensure no one is able to access your Crypto Wallet. This Recovery Key Phrase can not be bypassed, reset, or changed, please make sure you allow no one to access it. Once you have entered your Recovery Key Phrase , continue onto the final prompt.
- You have successfully completed the creation of your Daedulus Crypto Wallet, congratulations!
To learn how to buy Cardano on a Crypto Exchange and store it on your Daedulus Wallet , read the article from our team at The Cardano Times.