Operating as a full node, it requires downloading the entire blockchain, so it has fairly high resource demands. At the same time, the cryptocurrency wallet provides full control of funds, access to any operations, and high security achieved through the decentralized architecture. It works on Windows, Linux, and MacOS, but does not have a mobile version; for that, other wallets are suitable, such as Cropty.
Wallet Features
Daedalus provides full cryptocurrency wallet functionality for working with Cardano (ADA). Through it, you can send, receive, and also store coins. The wallet supports staking functionality. A convenient feature is the ability to connect multiple addresses linked to the main account.
Advantages and Disadvantages
| Advantages | Cons |
| Hierarchical determination, where control over the wallet lies solely with its direct owner, without third-party involvement. | No multisignature support. |
| Maximum security level achieved by fully loading the blockchain. | No mining, farming, or DeFi features. |
| High development potential, allowing the addition of altcoin support to the wallet in the future (Bitcoin and Ethereum are planned to be included in the list), launch of decentralized applications, creation of mobile software. | Of the available languages, only English and Japanese. |
| Opportunity to earn from staking by investing coins in liquidity pools. | Due to the large amount of information, there is no mobile or browser version. It also does not work with 32-bit systems. |
| A news feed is built directly into the client for tracking updates and receiving other useful information about cryptocurrency. |
How to install and set up a wallet
To get started, you need to go to the official developer page — daedaluswallet.io. Only there can you download the Daedalus Wallet application. On the download page, you need to select the appropriate operating system and click "Download Daedalus." After the download is complete, a simple installation will start, and the program will require you to log into your account. If you don't have one, you need to register. For this, the following is required:
- Select the option «Create new Wallet».
- Come up with a suitable wallet name and a strong password that will be used not only for login but also for transaction confirmation.
- Write down the seed phrase (12 or 24 words required to restore access in case of password loss), confirm it by entering the words in the correct order.
Next, the system will start the initial synchronization, which may take quite a long time, so be prepared to wait. Subsequent uses of the wallet will require significantly less waiting.
Working with the wallet and main functions
After logging into the account and syncing, the user gains access to menu items that enable full functionality with cryptocurrency. More details — in the table.
| Menu item | Description |
| Dashboard | Main screen displaying all connected wallets, their balances, and recent transactions. |
| Send | Sending coins to another address. |
| Receive | Receiving ADA, viewing existing wallets, and creating new wallets for deposits. |
| Delegation | Staking menu allows you to manage the pool for delegation, as well as view information about the rewards received. |
| Settings | Settings — change passwords, language, themes, manage security features. |
| News | News feed. |
| Backup | Working with the seed phrase, backup, and secure data storage. |
| Help | Library of wallet usage instructions, project support contact information. |
Account Top-up
To deposit funds, you need to obtain an ADA receiving address. It is available in the Receive section and looks like a long string of numbers and letters. The wallet also generates a QR code with all the necessary information; you can use either the first or the second type of access. For convenient fund distribution, additional addresses can be created; all of them will be linked to the main account and managed from a single user account.
To withdraw coins from the exchange, you need to specify your identifier in Daedalus, select the ADA currency, and enter the amount. It is not possible to buy tokens directly through the application, but the wallet works with most popular platforms (Binance, ByBit, OKX, etc.). You can also use exchangers like NiceChange to top up your account from electronic wallets or a bank card.
Transfers
Transfer funds via Daedalus only in ADA tokens, it does not work with other currencies. Transfers are made between any addresses in the system, and even if the identifiers belong to the same user, the fee will be calculated in the standard amount.
Withdraw funds
For external transfers you need to go to the Send section and fill out a simple form specifying:
- recipient address (exchange or other wallet)
- amount
- additional message (optional, can be left blank)
Next, just click «Next», review the details, and confirm the transaction.
Staking
The Daedalus cryptocurrency wallet not only allows you to store currency but also to earn from it by supporting the blockchain's operation with your stakes. To implement this function, the system uses the Proof-of-Stake algorithm. Depending on the stability of the chosen pool, the profitability of such investments is 3-5% per annum. There is no minimum amount — you can use any number of your tokens as an investment.
The contributor chooses the pool independently; there are several criteria for this:
- yield level
- degree of usage
- reliability
The first payments begin to arrive within 2-3 weeks, while the system calculates the rewards every 5 days.
Daedalus Wallet provides maximum reliability through its non-custodial system. Full blockchain download and local storage of authorization data make it virtually immune to cyber attacks. This is the most secure software, ensuring full asset management. Its drawback is the ability to work only with its native currency ADA, however, developers announce the addition of other altcoins, which will increase the wallet's practicality. For those who use only Cardano, this is the best option, but for the general user we recommend Cropty Wallet for its greater versatility and user-friendliness.