Yoroi Wallet

Yoroi is a design for the Cardano and Ergo network. It works with the native Cardano (ADA) token. So, let’s have a look at what this Yoroi wallet is all about.

There are currently two versions of the Yoroi wallet.

1. Byron wallet — Wallets created between 2017 and July 29th, 2020. However, the Byron wallet is now deprecated. This means that it is still available. However, it’s not recommended to use it anymore.

2. Shelly wallet — This is the standard modern wallet. For instance, it supports delegation to stake ADA. Currently, this is the only wallet you can install.

3. Is Yoroi Wallet Safe?

   Yoroi wallet is a safe wallet to use. You are in control of the private keys. As a result, nobody else can access your ADA in your Yoroi. Just make sure that you keep your private keys private. Don’t give them to anybody. Whoever has access to these private keys, has also access to the coins in that wallet.

   Make sure to write down the seed phrase, which can be a 15- or 24- word seed phrase. Keep it in at least two different and safe locations.

   Furthermore, you can connect Yoroi to a Ledger or Trezor hardware wallet. Now you can transfer your ADA to cold storage. This is also known as a hardware wallet.