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What is Ada?

What can I do with Ada?

Ada is the native token of Cardano

It is named after Ada Lovelace: a 19th-century mathematician who is recognized as the first computer programmer, and is the daughter of the poet Lord Byron.

What can I do with Ada?

Ada is a digital currency. Any user, located anywhere in the world, can use ada as a secure exchange of value – without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.

Every ada holder also holds a stake in the Cardano network. Ada stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pools likelihood of receiving rewards. In time, ada will also be usable for a variety of applications and services on the Cardano platform.

You can buy or sell ada for fiat or other cryptocurrencies using cryptocurrency exchanges. Visit coinmarketcap to see the list of exchanges that support ada.

As an ada holder, it is important to keep your funds secure, and that means you need to keep your private keys private. It is highly recommended to avoid keeping your cryptocurrency in an exchange longer than necessary, and instead to use a cryptocurrency wallet. We recommend either a full-node wallet like Daedalus, or the browser-based Yoroi.

Wallets

Daedalus Wallet

Daedalus is a full-node desktop wallet developed by IOHK. Daedalus is unique in that it downloads a full copy of the Cardano blockchain and independently validates every transaction in its history. This provides maximum security and completely trustless operation, without centrally hosted third-party servers.

Daedalus is available for Windows, macOS, and Linux.

  • Encrypted private keys and spending passwords, offering protection against security threats such as malware.

  • Wallets can be exported to paper certificates, providing the maximum-security option of placing funds in cold storage.

  • Powerful backup features to recover your funds anytime.

  • Configurable transaction assurance level monitoring, allowing users to be sure when transactions become irreversible.

Learn More

Yoroi Wallet

Yoroi is EMURGOs one-click-install, light wallet for Cardano. With Yoroi, it is not necessary to download a copy of the blockchain’s history. This makes it a simple, fast way to store and transact your ada (₳). Yoroi is the perfect day-to-day wallet for any Cardano user available as either a web-based extension or a downloadable app.

Yoroi is available for Windows, macOS, and Linux.

  • Encrypted private keys are never shared with servers or third parties.

  • Yoroi is built with security-audited, robust, high-quality code.

  • Light wallet implementation means that you do not need to download the blockchain when you open Yoroi. You can send and receive transactions right away.

  • Carefully designed, user-friendly interface offers a great user experience.

Learn More

How do I store my ada and keep it safe?

A cryptocurrency wallet is a software program designed to store your public and private keys, send and receive digital currencies, monitor your balance, and interact with supported blockchains. Ada can be stored using a Daedalus or Yoroi wallet - the primary wallets of the Cardano ecosystem, developed, respectively, by IOHK and EMURGO - or other third-party wallets.

In addition to the variation of wallets available, there are also two types of wallets: a hot wallet and a cold wallet.

A hot wallet is connected to the internet and can be accessed at any time with the requisite keys. Examples of hot wallets include mobile and software wallets, and funds stored on exchanges.

A cold wallet is an offline wallet. It is not connected to the internet and is used for securing storing funds that do not have to be frequently accessed. Examples include hardware wallets - which is a secure hardware device that stores the wallet’s private keys - and paper wallets. Cardano is supported by both Trezor and Ledger hardware wallets.

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