FAQs
Yoroi Wallet is a self custodial open-source light wallet built in the open for the Cardano ecosystem. The level of transparency enhances the security. Anyone may explore or inspect the Yoroi source code on Github. Private keys are encrypted, and never shared with our servers or third party providers.
Is Yoroi a good wallet? ›
The Yoroi Wallet is a superb choice for users of the Cardano network. It is simple to use, has a nice interface, makes sending and receiving ADA assets easy, and can connect to DApps.
What coins does Yoroi support? ›
Yoroi is a light wallet for Cardano used to send, receive, and store ADA, Cardano's underlying cryptocurrency.
Can you delete a yoroi wallet? ›
In “Remove wallet”, click on “Remove (Your Wallet Name)” and confirm it. Removing your wallet does not affect your funds.
Can my yoroi wallet be hacked? ›
Private keys are protected through powerful encryption on Yoroi, which prevents attackers from directly stealing crypto assets. Therefore, if a user has not disclosed their seed phrase, ¹ these scams generally require the user to inadvertently sign a fraudulent transaction.
Does yoroi report to IRS? ›
No, as of 2024, Yoroi does not automatically deduct taxes from crypto trades. However, Yoroi might still report your crypto transactions to your country's tax authority, like the IRS or HMRC.
What is the best wallet for Cardano? ›
The best Cardano wallet for you may vary depending on your specific needs. Daedalus, Eternl, and Yoroi are a few of the wallets that are considered great options for Cardano users. Hardware wallets like Ledger can help you keep your cryptocurrency safe from a hack.
Should I use Daedalus or Yoroi? ›
Why would you prefer Yoroi or Daedalus? Yoroi allows you to use hardware wallets and to use it on Mobile, plus it is fast to download and install and takes up very little space on your device. Daedalus, on the other hand, allows you to maintain multiple wallets and you have a direct connection to the Cardano network.
What can I do with a yoroi wallet? ›
You can use Yoroi to stake, send and receive ADA transactions. In case you face any issues or require some additional assistance on how to use your Ledger device with Yoroi wallet, please visit the Yoroi Support Page.
Which wallet is best for ADA? ›
Daedalus – Best Full Node Wallet
Daedalus, designed for Cardano's ADA cryptocurrency, is the top choice for a full-node desktop wallet. Crafted by Cardano founder Charles Hoskinson, Daedalus prioritizes security and user autonomy.
Coinbase is a leading crypto exchange that offers three different crypto wallets—the Coinbase Wallet Web3 ranks the highest of the three. According to the company, this wallet supports “hundreds of thousands” of crypto assets.
Is it safe to use yoroi? ›
The Yoroi wallet was constructed by EMURGO in the year 2018 to deliver secure access to crypto assets. Is the Yoroi Wallet Safe? The wallet is solid from a security point of view and there have been no particular security concerns encountered till date.
Can you permanently delete a crypto wallet? ›
Warning: If you delete your wallet, all your crypto and transaction history will be permanently deleted from your device. You will only be able to recover your funds and view your transaction history with your 12-word secret recovery phrase. If you delete your wallet and your funds, you do so at your own risk.
What is the difference between Nami and Yoroi wallet? ›
In Daedalus/Yoroi, you can set up multiple wallets. Each wallet has its own seed phrase. Within each wallet, you can have multiple addresses. With Nami, there is only one wallet and one address, but you can set up sub-accounts that are independent of each other.
Are Cardano wallets safe? ›
Yoroi wallet, developed by Emurgo, is a secure and high-speed software wallet designed for the Cardano blockchain. This wallet is free and can be accessed on desktop and mobile devices. It also ensures the safety of users' funds by utilising encrypted private keys not shared with third-party applications.
Is ADA staking risk free? ›
However, ADA staking is not risk-free, since staked assets could potentially face protocol and other risks, leading to loss of rewards. To find out more about risks connected with Staking, please visit the Staking Risk Disclosure page.
Is it safe to stake ADA on trust wallet? ›
One safe and effective method of generating passive income from your cryptocurrency holdings is to stake them via Trust Wallet. Many of the hazards associated with staking may be reduced by keeping possession of your private keys and choosing trustworthy validators.
Is Yoroi better than Daedalus? ›
The advantage of Yoroi compared to Daedalus is that users can stake their ADA, but they do not have to download the entire Cardano blockchain which takes hours to synchronize. The wallet is automatically available for deposits. The user interface of Yoroi's ADA wallet.
