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  • Moonstake Mobile Wallet App Significantly Updated – Now Supporting ADA Staking

    Published on September 25, 2020

    SINGAPORE : Today, Moonstake announces that its signatured product, Mobile Wallet, now supports Cardano’s cryptocurrency ADA, one of top 10 cryptocurrencies by market cap. In addition to Moonstake Web Wallet, which provides user-access to ADA staking since last month, users can have more flexibility through their mobile application for staking, sending, receiving and storing ADA.

    Along with Cardano Shelley Mainnet launch in July, Moonstake soon deployed the staking functionality with Web Wallet that makes Moonstake one of the first cryptocurrency wallets to support ADA in the world. Moonstake Web Wallet has also continuously updated its features to enhance the user experience, and the most recent update of Moonstake Web Wallet includes importing ADA from Daedalus Wallet to Moonstake.

    Moonstake is an advanced technology company with specific focuses on blockchain and staking technologies to build Asia’s Biggest Staking Network. Moonstake was established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Signature products include Moonstake Web Wallet along with Moonstake Mobile Wallet (iOS / Android) enabling full staking functions and to be an all-in-one gateway for users to maximize the usage and potential of cryptocurrencies. Currently, Moonstake’s staking pool supports Cosmos, IRISnet, Ontology, Harmony, Tezos, QTUM and Cardano thereby providing current users with the flexible option to adopt staking purposes and become an all-in-one gateway for users to maximize usage and potentials of cryptocurrency,

    As many wallets only support a limited range of cryptocurrencies, users are forced to switch between wallets to manage their assets and processing staking and get rewards which is remarkably inconvenient. In order to solve that issue, Moonstake Wallet provides a one-stop staking solution. Users can send, receive, stake and get reward through the wallet. At the same time, it will allow users to access a varios assets in preventing from downloading different wallets per each coin and over 2000 coins and tokens with one single pass phrase. Assets stay in the user’s existing wallet, so no need to worry about their account being hacked from the platform and private keys & passphrases are encrypted and stored in the user’s local device.

    The Simple ADA staking procedure is as follows:

    How to Stake Cardano (ADA) via Mobile
    1. Moonstake mobile wallet download (iOS/Android) *For new users
    2. Add ADA Shelley with “Add New Asset”
    3. Submit ADA to Moonstake Mobile Wallet
    4. “Start staking” The minimum staking amount is 5 ADA

    How to Stake Cardano (ADA) via PC
    1. Register your mobile Moonstake wallet (https://wallet.moonstake.io) *For new users
    2. Add ADA Shelley with “Add New Asset”
    3. Submit ADA to Moonstake Mobile Wallet
    4. Click the “Start Staking” button and stake with a minimum amount of 5 ADA
    (Staking is supported on these browsers for the PC: Chrome, Edge, Firefox, and Opera).

    How to import ADA from Daedalus wallet to Moonstake:
    1. Download Daedalus Wallet via link: https://daedaluswallet.io/en/download/
    2. Install and sync blockchain data
    3. Go to Moonstake Web Wallet ->manage wallet ->click dropdown list and select “Import Daedalus Wallet”
    4. Input wallet name and sending password > go to “next”
    5. Insert 24 passphrase that you have set for Daedalus Wallet
    6. Click migrate and transfer button

    Important Notification:
    – If your Daedalus wallet balance is less than 1 ADA, the migration will not operate.
    – If you receive funds in your Daedalus wallet, the funds will not appear on Moonstake web wallet unless the same receiving address is utilized.
    – Daedalus wallet can generate new receiving addresses, Moonstake web wallet does not support this feature.
    – When migrating Daedalus wallet, Moonstake web wallet will migrate your current Daedalus wallet balance into a single address.

    By pressing the unstake button, you can immediately take out the coins which you staked or “locked” on the network. There is a set period for unlocking each blockchain. But, in the case of ADA, there is no lock period setting, so it can be taken out freely, at any time.

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