Just to make sure I got this correctly, I can send all my ADA to the paper wallet and can continue to send ADA to the paper wallet as I am accumulating however I do need Daedalus wallet to delegate at least some of my ADA for staking (I assume I can specify the amount of ADA I want to use for staking)
For now we know for sure that you will be able to “stake from a paper-wallet”. How exactly it will be implemented is not know at this moment as staking itself is not yet available on the system.
Once it is available - you will for sure need Daedalus itself to control the staking, but how exactly staking from papwallet will work is not entirely known.
I can speculate that you will have to input your 27 secret words once and then optionally specify the amount of coins you want to stake from this address. This will create a delegation certificate that you can assign to a pool of your choice. But most probably this operation will not restore a wallet into Daedalus, meaning that you will not “spoil” the cold paperwallet.
You can restore your paper-wallet like a normal wallet in the Daedalus using those 27 words. Just use “Add wallet → Restore” and then select “Paper wallet certificate”:
Once you restore it - it will work like a standard wallet with an option to send ADA.
Note: that once you restore a paper wallet - it is not considered anymore to be “cold” and the paper certificate itself is now “spoiled”, because its key has touched a computer with an internet connection. You should restore a paper-wallet only when necessary, and then never use it again as a cold storage, but rather create a new one and send all ADA there.
That is very helpful
It seems it will be much easier to store ADA on Daedalus or a hardware wallet. Since Daedalus has the password feature for sending ADA for some extra security. So far I am not aware of any hardware wallet that can store ADA or how will staking work from a hardware wallet as we will still need to wait quite a while before information will become available.
It does seem paper wallet is a lot safer than having Daedalus on the computer. I think it might be good to have Daedalus until staking is available then delegate some ADA for staking then delete Daedalus from the computer entirely
After I recover the paper wallet in Daedalus I assume I can generate a completely different brand new paper wallet by using the paper wallet option again in Daedalus. I noticed the new version of Daedalus is a lot faster when connecting to network and syncing blocks. Has anyone else noticed that?