Yoroi Wallet Installation Guide
September 28, 2021 by Anooj Patel ‐ 4 min read
A crypto wallet is a storage mechanism that holds your private keys to keep you tokens safe and accessible. Wallets also have the functionalities of sending, receiving, and in the case of Cardano, staking.
Yoroi is a wallet built by Emurgo, that orginially sprouted from and now is partenered with IOHK (the group that developed Cardano initially). Yoroi is a very lightweight and popular wallet for Cardano. It is a browser-based wallet that makes it easy for ADA holders to delegate ADA to a stake pool and receive rewards. It is also your gateway to the Cardano ecosystem, such as connecting and interacting with smart contract-based DeFi apps.
Given that security is a critical component of digital wallets, Yoroi has been designed to process individual transactions without relying on storing any private information. This means, you don’t store your private keys on Yoroi.
- Make sure you have a modern web browser (Brave, Google Chrome, Mozilla Firefox, Opera). Optional:
Navigate to Yoroi’s website.
Click the download button and select the Browser type you’re looking to install! Note you can also install this on iOS and Android as well.
Once you click Download, you’ll be navigated to the browser’s respective extension/app store. Select Download, and you’ll be returned back to the yoroi-wallet.com. Note, you can confirm that the developer is correct, by confirming that the download is offered by yoroiwallet.com.
Select a language that you want to interact with. There are many languages available other than English.
Make sure to read the Terms of Service and when ready, hit accept and continue.
A notification to enable Cardano URLs and links will appear. This is for making transactions with other Cardano webapps easier and allow extensions to utilize the wallet on different websites, similar to MetaMask for Ethereum. If you’re interested, make sure to continue and hit Allow for your browser.
There are 3 ways to connect a wallet
- Connect a hardware wallet (Not covered but will be in the future)
- Create a new wallet
- Restore a wallet
Creating a New Wallet
Select “create wallet” and hit continue
Select “Cardano”. Ergo is another cryptocurrency that Yoroi supports.
You’ll see a display similar to this, where you can give your wallet a name and a spending password. Having a spending password means you’ll have to type this password in everytime you want to spend or interact with the wallet. Note, this is different from your restoration phrases which we will cover soon. Spending passwords are a little confusing at first, so let’s make them less confusing!
For most interactions with your wallet, you will need to use your spending password for security reasons. The spending password is unique to this computer / installation of Yoroi, and if you ever recover your wallet on another computer, you will choose a new spending password.
When completed, hit continue and navigate through to the recovery phrases page.
IMPORTANT! Save these phrases and the order of these phrases somewhere! These phrases are the key to unlock all of your funds. Make sure to be extremely careful with storing them. We recommend getting out a piece of paper, writing down the seed phrase, checking it twice, and storing with your other sensitive documents. We highly recommend against storing them online, but if you must, consider creating a poem or short story using the words in the seed phrase so that you are the only one who can decipher it.
Once you finish, you’ll see a wallet page that shows your wallet!
To stake, you select Delegation List
Look up a stake pool to delegate to (in our case, MAESTRO Pool), and select delegate. Here you can select an amount ADA that you want to delegate to this specific pool! Note that you’ll have to wait 5 epochs (which is equivalent to 25 days) before you get your first reward for delegating. You will then get rewards every 5 days even if you switch pools for this wallet.
More information can be found on our FAQ.
Using a Previously created Daedalus Wallet with Yoroi
Click Restore Wallet and click the tick boxes to confirm you are attempting to recover
Utilize the same recovery phrases that are used in Daedalus when you created your wallet.
The wallet will not let you recover if the phrase is not correct, and until the “continue” button turns, green, it won’t complete
Once you confirm, you will be returned to the wallet main page. From here, select Delegation List.
Look up a stake pool to delegate to (in our case, MAESTRO Pool), and select delegate. Here you can give an amount that you want to delegate to this specific pool.
More information can be found on our FAQ.