To manage cryptocurrency, we need a crypto wallet as we cannot keep it directly on exchanges for the long term. Direct storage on exchanges could be somehow risky because you cannot fully own the cryptocurrencies on the exchange. Furthermore, it can be accessed and sniffed by the exchanger at any time, and sometimes you can lose your whole crypto assets.
Well, apart from this discussion our today’s article is based on all you know about Daedalus Wallet!
What Is Daedalus Wallet
Daedalus wallet is a desktop application used as a crypto wallet called a software-based wallet. It helps you to store the crypto safely and is specifically used to store Cardano (ADA). It is available for PC (Microsoft Windows/Linux) and macOS and there is no version of the Daedalus wallet for the mobile application (Android and iOS). It is completely secure to store the Cardano (ADA) as it has no previous records of security breaches.
How to Setup Daedalus Wallet
Here we will discuss step by step guide to get started with Daedalus Wallet.
Step 1: Daedalus Installation
Go to the Daedalus official website and hit the button DOWNLOAD:
Select the operating system:
After a successful download, go to the download folder and open the .exe file, and hit the button Install:
After successful installation open the Daedalus Wallet and enter the Language, Number format, Date format, and Time format. Hit the Continue button:
Read the terms & conditions carefully and hit the Continue button
Hit the button Allow to allow the analytics data collection:
Step 2: How to Use Daedalus Wallet
From the Daedalus Wallet dashboard select Create to create a new wallet:
Enter the following fields Wallet name, Enter password, Repeat password and hit the button Create Shelly wallet:
Read the following given instruction and hit the button Continue to know more about recovery phrases visit:
Note: When Daedalus Wallet downloads on your system the entire blockchain would also be downloaded along the wallet so that’s it takes more time to download and requires more storage. You may also go for the alternative Yoroi light wallet.
Conclusion
Daedalus Wallet is a type of software wallet installed on your desktop machines (Windows/ Linux and macOS), it is not available for mobile applications (Android and IOS). Furthermore, it is used to store Cardano (ADA). By using this you can hold (ADA) for the long term. Its alternative is Yoroi Light Wallet.
