Setting up the Cardano Wallet Daedalus

Currently there is only one wallet that supports ADA, the cryptocurrency of the Cardano platform. This wallet is called Daedalus and can be downloaded -for Windows and macOS for the time being- on daedaluswallet.io. Daedalus is the official wallet of the Cardano project. Its developers not only want to offer a secure desktop wallet for ADA (mobile versions will soon follow), but also integrate other cryptocurrencies such as Bitcoin and Ethereum and to make additional features available within the wallet.

Setting up the ADA-Wallet Daedalus

Downloading the Cardano Wallet

To install Daedalus, first select and download the appropriate version for your operating system on daedaluswallet.io:

cardano-wallet

Syncing

The installation of the downloaded file works in the same way as with other programs. Daedalus does not start automatically, but has to be started manually. After accepting the Terms of Service Agreement, you have to wait for the syncing with the Cardano network to complete:

cardano-wallet

The Internet connection and any antivirus software installed on your computer can affect the duration of the syncing. It took about two hours on my MacBook.

Creating the Cardano Wallet

But then I could finally create the wallet by clicking on “Create a new Wallet” in the window below:

cardano-wallet-3

Next you will be asked to name the wallet and choose a password for it.

Recovery phrase to restore the wallet

cardano-wallet-4

You will then be shown the window above about the recovery phrase or seed. As you can read there, the seed consists of 12 words. These should be written down and stored securely, because with the help of the seed you get access to your wallet even if it is no longer possible on the computer on which the software was first installed, if it has been damaged for example. For the recovery to take place, you would select the Restore button (and not the Create button) that you can see in the image under Creating the Cardano Wallet further above.

 

Your ADA wallet is ready for action

Once this is done, you can have a closer look at the wallet and its functions and perhaps start the first transaction soon:

wallet-cardano

 

Can I use the Ledger Wallet Nano S for Cardano/ADA?

As early as the beginning of 2018, Cardano announced that they want users to be able to use the popular Ledger Nano S hardware wallet. On the Cardano Roadmap page, you can read that this project – including the integration of Daedalus – is still underway. However, there is no concrete timetable for the completion of this hardware wallet project. For the time being, you will have to rely on the Daedalus software wallet for your ADA.