Jump to Lido Nation to read this article’s full text, and read the following articles in this series exploring more things to do with your Cardano Wallet.
So you just got a Cardano wallet. What should you do next?
Here, we’ll focus on some features of GeroWallet, but many of these apply to other wallets too.
Obtain Ada
If you don’t have Ada, the native currency of Cardano, you may want some. GeroWallet makes it easy, with a BUY button in the wallet that directs you to Moonpay for purchasing. This is a rare feature in Cardano wallets, as many don’t offer an integrated platform to buy Ada. Keep in mind that Moonpay may not be available everywhere and fees may be higher than other options.
Alternatively, you can compare fees with a crypto exchange like Coinbase. If you choose this route, you’ll need to transfer the Ada to your wallet after purchasing. To do this, in GeroWallet, copy the text string (starting with “addr”) in the upper right corner, which is your wallet’s receiving address. You can share this with others to receive Ada.
Earn Ada
Buying Ada is a common method to enter the Cardano ecosystem (not financial advice!), but consider this idea instead: earn some!
- Cardano’s Project Catalyst offers various ways to earn, from voting to serving as a proposal assessor.
- Look for paying gigs on Snapbrillia’s Cardano Bounty board.
- Lido Nation’s Swahili Learn to Earn project pays Swahili speakers up to $25 in Ada for learning about Cardano.
Keep an eye out for opportunities in the Cardano community to use your skills and get paid in Ada.
Stake Ada
Once you have Ada in your wallet, consider staking it. This helps secure the Cardano network and earns passive rewards without risking your Ada or limiting its use. Staking with GeroWallet is simple, just click the Stake button and follow the prompts. (Consider staking with LIDO!)
Final Thoughts
Getting a Cardano wallet is your first step into the Cardano economy. Like any thriving economy, there are many ways to participate, including obtaining, earning, and staking Ada. Take advantage of these opportunities and explore all that Cardano has to offer.
Jump to Lido Nation to read this article’s full text, and read the following articles in this series exploring more things to do with your Cardano Wallet.