How to chose Cardano Wallet.
A step by step guide.
How to chose Cardano wallet
Cardano wallet is a piece of software that allows you to hold ADA coins. You should never let ADA coins on an exchange and once you buy them you should send them to your own wallet. Why? The reason is simple. An exchange can be hacked and your coins can be stolen. The exchange might not have sufficient reserve to cover the loss.
Daedalus is a full-node desktop wallet for ADA coins. It stores the full blockchain on your
computer and validates all blocks together with transactions. Always when you launch the wallet it begins to download new blocks from the internet to get synchronized. This process takes a while if you use the wallet regularly. If you launch the wallet after a long time then it needs more time for synchronization. Daedalus is maintained by IOHK.
Yoroi is a lightweight wallet that runs as a Chrome or Firefox extension. It connects to a full node that is operated by Emurgo. The advantage is that the wallet is available right after you click on the icon. There is no synchronization and also installation is faster.
In both cases, wallets encrypt and store private keys locally. Keys are not shared with third parties. You can find more information on IOHK ZenDesk. You can also submit a request regarding the Daedalus wallet.
It is highly recommended to use a hardware wallet for holding your ADA. It is the most secure way of doing it. You can buy either Trezor or Ledger. It is possible to connect Daedalus and Yoroi with the hardware wallet.