1. Register to an Exchange and Buy Cardano (ada)
Popular exchanges:
2. Choose a Cardano Wallet
Two of the most popular Cardano wallets are Daedalus and Yoroi. While Yoroi is lightweight and requires less storage, it needs to connect to a full node, meaning you need to trust a third party. For the example below, we’ll use Daedalus Wallet.
After you download and install Daedalus, start up the Daedalus application.
First start up should take some time because you are downloading the entire Cardano blockchain.
3. Create Daedalus Wallet
Write down the keywords and store them in a safe location. Keywords are required for wallet restoration.
Create a spending password that you can remember. A spending password is required in order to send ada.
4. Transfer ada
Now you need to send ada from your exchange to the Daedalus wallet that you created. In your Daedalus wallet, click the “receive” tab and copy the wallet’s receiving address.
On the exchange, find your ada wallet. It should show your ada balance. Click send/withdraw and paste your Daedalus Wallet address where requested.
Send a test amount of ada (10 ada) just to make sure you set it up right.
When it arrives in your Daedalus Wallet, repeat this step to send the rest.
5. Search and Delegate
When you have moved all your ada to Daedalus, click the network logo that appears on the sidebar to the left.
Next, select the stake pools tab and search stake pools with the ticker MDRS.
Select our pool and click delegate.