Managing digital assets has never been easier than before, with the availability of many convenient and secure wallets. One such wallet that stands out in the market is Yoroi, which provides a wide range of features that cater to both new and experienced users in the community.
Yoroi is a lightweight wallet that does not require downloading the full blockchain, making it quick to set up and use. It is available as a mobile app for iOS and Android, ensuring that users can manage their assets on the go. The wallet is fully open-source, which means that its code is transparent and can be reviewed by anyone, ensuring trust and reliability. Additionally, Yoroi supports hardware wallets like Ledger, providing an extra layer of security for users’ private keys.
The primary function of Yoroi is to serve as a secure repository for digital assets, allowing users to send, receive, and store cryptocurrencies like ADA. However, its capabilities extend far beyond basic transactions. Yoroi integrates various advanced features that enhance the user experience and provide additional functionalities, making it a powerful tool for managing digital assets.
What Can you do With the Yoroi Wallet?
- Create a new wallet: Yoroi allows you to easily set up a new digital wallet for storing and managing your assets. Yoroi also let’s you manage multiple wallets with ease.
- Restore an existing wallet: As a user, you can recover existing wallets by entering a unique recovery phrase to regain access to funds.
- Send and receive ADA: You can use the “Send” and “Receive” tabs to manage ADA transactions.
- Request funds and share addresses: Yoroi enables you to easily request ADA and share wallet addresses using links and QR codes for quick and secure transactions.
- Swap ADA: If you’d like to exchange ADA for other cryptocurrencies, you can instantly swap tokens directly within the Yoroi wallet.
- Buy or sell ADA: You can either purchase or sell ADA directly through the Yoroi wallet using integrated partner services.
- Transaction history and data review: View detailed transaction history and data directly in the Yoroi wallet.
- Stake to a pool of your choice: Delegate ADA to staking pools to earn rewards while supporting the network’s security and decentralization.
- NFT Gallery: View and manage Cardano-based NFTs directly within the Yoroi wallet with an integrated gallery feature.
- Catalyst voting: Participate in Project Catalyst by voting on Cardano governance proposals directly from the Yoroi wallet.
- Domain Name Support: Send and receive ADA using user-friendly addresses with integrated support for Cardano Name Service (CNS), ADAHandle, and Unstoppable Domains.
What’s New in The Latest Upgrade?
On Ocober 21, 2024, Yoroi announced the release of Yoroi Mobile v5.0, an upgrade that brings some awesome features that improve the experience of all users on Cardano.
The features introduced in the latest upgrade include:
DApp Connector
You can now securely connect your wallet to decentralized applications on the Cardano ecosystem in a single click. Yoroi will let you browse, search, and filter through the growing list of mobile DApps and seamlessly interact or transact with a DApp of your choice.
Governance Participation
Yoroi now allows you to delegate voting power to a DRep of your choice, abstain, or cast a vote of no confidence on governance proposals directly from the Yoroi wallet. To explore this feature, select Settings then Governance.
Portfolio Manager
Yoroi’s portfolio manager now allows you to review and manage information about ADA and other tokens with a comprehensive portfolio dashboard. The dashboard has a sleek, user-friendly design that let’s you sort, organize, and review your assets with ease.
Network Switching
You can now easily toggle between Cardano networks (Mainnet, Preprod, Preview) for seamless testing. This is great news for developers who can now access the the pre-production environment for testing purposes. Additionally, deep link v2 allows seamless DApp launches in Yoroi.
Introduced Dark Mode
And finally, as you see in the wallet snapshots above, your can easily switch between light and dark themes while using the Yoroi wallet. As one of the most requested UI enhancements, Yoroi now lets you switch to your preferred mode.
And a range of bug fixes and wallet enhancements
It’s never a release without squashing a number of bugs in the version upgrade. The developer team made a long list of enhancements to the wallet to improve the functionality for an even smoother experience for all users. Check the Yoroi v5.0 release notes on GitHub for more details.
Unlock ADA Rewards When Shopping With Yoroi
In a recent announcement, Yoroi wallet is also teaming up with Bring, the first white-label crypto cashback platform to introduce a new way to earn ADA via shopping-based rewards
This integration offers a seamless and rewarding experience, making blockchain a part of everyday shopping for the community. The wallet’s cashback feature is designed to be user-friendly and highly rewarding. Users can shop with top-tier brands like Vaio, JBL, StockX, Samsonite, and Nubul, and earn up to 10% cashback in ADA. The process is simple: users make purchases using their credit card or any other payment method, and with just a click, they receive ADA cashback. This collaboration demonstrates how blockchain can be integrated into everyday shopping, providing a rewarding experience for users.
Quoting Bring’s CEO, “Collaborating with Yoroi is a key step toward expanding the reach of our platform and offering users more value. Together, we’re unlocking the potential of blockchain technology for mainstream users, making it easier to earn and spend ADA in real-world transactions. We believe this collaboration will accelerate the adoption of Cardano within the retail sector.”
This integration is supported by the Cardano Catalyst program and marks a significant milestone for the Cardano ecosystem. It connects blockchain with real-world transactions, benefiting both users and retailers. The Yoroi Wallet’s cashback feature is going beyond enhancing user experiences in that it demonstrates the potential of blockchain technology to revolutionize everyday financial transactions.
Putting it all together
Yoroi’s extensive feature set makes it a versatile and powerful tool that allows all users in the Cardano ecosystem to manage their digital assets. Whether you’re looking to perform basic transactions, participate in governance, or manage NFTs, the Yoroi wallet provides all the necessary tools to do so efficiently
