To stake ADA, you need to have ADA first. There are multiple ways to acquire ADA, but the most common way is to buy ADA through an exchange. The largest and most popular exchange is Binance. However due to regulations and restrictions, Binance does not serve the customers of some countries. In this case, you will have to find another exchange that serves or operates in your country. For example, NDAX is a crypto exchange that operates in Canada.
<aside> ⚠️ Make sure that you do your due diligence regarding the exchange you choose. See our risks and safeguards page for more info risks involved with centralized exchanges.
The wallet you have created will have two addresses: a payment address that starts with
addr and a staking address that starts with
stake. The stake address is used to stake in stake pools, and the payment address is used to send and receive payments.
To transfer funds from an exchange to your wallet, follow these steps:
addr. It is usually found in a “receive” tab.
<aside> ❗ Send a small amount of funds first, e.g. 5 or 10 ADA, before transferring the full amount. This can incur more transaction fees, but will help to verify that everything is correct.