Last updated on January 25th, 2022
If you have bought some ADA on Huobi, you may be looking to send it to your Yoroi Wallet to stake ADA.
Here’s a guide on how you can do so:
How to transfer ADA from Huobi to Yoroi
Here are 5 steps to transfer ADA from Huobi to your Yoroi wallet:
- Obtain the ADA deposit address from your Yoroi wallet
- Go to ‘Exchange Account’ on Huobi
- Select ADA as the cryptocurrency that you want to withdraw
- Enter the transaction details
- Receive ADA in your Yoroi Wallet
And here is each step explained further:
Obtain the ADA deposit address from your Yoroi wallet
The first thing you’ll need to do is to create a Yoroi Wallet.
Don’t forget to keep your seed phrase secure, as this can be used by anyone to access your wallet!
Once you have created your wallet, you will need to go to the dashboard and select ‘Receive‘,
and this will show you the ADA deposit address that you’ll need to copy to Huobi.
Your address should start with ‘ada‘, which is a Cardano network address. This is different from ‘0x‘ addresses which are for the ERC20 and BEP20 networks.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
Go to ‘Exchange Account’ on Huobi
On Huobi’s platform, you’ll need to go to ‘Exchange Account‘ from the Balances tab.
This account allows you to deposit and withdraw cryptocurrencies from Huobi.
Select ADA as the cryptocurrency you wish to withdraw
Once you’re there, you can select ADA as the cryptocurrency that you intend to withdraw.
You will need to click on the ‘Withdraw‘ button.
Enter the details of the transaction
There are a few details that you’ll need to enter for each transaction.
- The deposit address that you’ve obtained from Yoroi
- The network that you will be using (ADA and not HECO)
- The amount of ADA that you wish to withdraw from Huobi
Yoroi only supports native ADA in their wallet, and not the HECO version of ADA.
Receive ADA in your Yoroi Wallet
After the transfer has been initiated, you will receive ADA in your Yoroi Wallet. Transactions on the Cardano network are really fast, and you should be able to receive the funds within a few minutes!
What are the fees for transferring ADA from Huobi to Yoroi Wallet?
Huobi charges 1 ADA for withdrawals via the ADA network. This fee is similar to withdrawing ADA on other platforms.
Sending ADA to Yoroi Wallet allows you to stake ADA on their platform, and you can use this same method for other platforms like Binance or Crypto.com.
You are also able to use the Exodus wallet to stake ADA too.
Alternatively, you can send your ADA to Crypto.com, and lend it out to earn interest.
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