Cardano FAQs - Learn more about ADA
Everything you need to know about Cardano (ADA) inside of Exodus.
In this article:
- What was the Shelley hard fork?
- How do I enable my Legacy address?
- What was the Vasil hard fork?
- ADA transactions:
- Cardano native tokens and NFTs in Exodus:
What was the Shelley hard fork?
The Cardano network upgraded from a centralized network to a distributed one through the Shelley protocol on June 29, 2020. This upgrade allowed for more and more nodes to shift towards being run by the Cardano community. Once network participants run the majority of nodes, Cardano will be more decentralized and enjoy greater security and robustness as a result.
Shelley also introduced a delegation and incentives scheme, and a reward system to drive community adoption. As a proof-of-stake network, users stake their ADA to participate in the network. To read more about the Shelley upgrade and what it entails, please refer to the Cardano website here.
How do I enable my Legacy address?
By default, when you open your Cardano wallet inside of Exodus and click on Receive, you will be shown your Cardano Shelley address. To also see your Cardano Legacy address, follow these steps to enable it in your wallet:
In your Cardano wallet, a) click the three dots in the top right corner and b) click on the
Legacy Address and return to your Cardano wallet.
Finally, click the arrows to the left and right of the QR code to see both your Shelley (starts with addr1) and Legacy (starts with Ae2) receive addresses.
- Open your Cardano wallet and tap on the Settings icon in the top right corner.
- Toggle on Legacy Address and return to your Cardano wallet.
- Tap on the Receive icon.
- Finally, tap the arrows to the left and right of the QR code to see both your Shelley (starts with addr1) and Legacy (starts with Ae2) receive addresses.
What was the Vasil hard fork?
The Cardano blockchain's Vasil hard fork, on September 22, 2022, brought significant changes to the network.
Major changes to the network included enhancements to the Plutus smart contract platform and greater scalability as described in this tweet from InputOutputHK, which is the blockchain firm that oversees the building, planning, and maintenance of the Cardano network.
Why can't I export my ADA to another wallet via private key?
Typically, by exporting your private key you can interact with your tokens in another wallet - but only if it supports the same derivation path (address creation tool) used in Exodus.
Please be very careful with your 12-word secret recovery phrase and private keys, because they control access to your funds. Never share them with anyone, and only import them into platforms that you trust 100%. If you choose to import your 12-word phrase or private keys into a third-party platform, you do so at your own risk. To find out more, check out this article from our Knowledge Base: How do I keep my money safe?
What is the minimum transaction size for ADA?
There is a minimum transaction size of 1 ADA (not including the network fee) set by the Cardano network. This means that the minimum amount of ADA you can send is 1 ADA (plus the transaction fee). The Cardano network put this minimum in place to reduce the amount of dust on the network and to mitigate the issue of too many small inputs.
At the moment, it is not possible to send less than 1 ADA in any transaction. This applies to staking ADA and claiming ADA rewards, as well as regular sending transactions.
If you try to send less than 1 ADA, you will see an error message that the Transaction amount is too small to send.
Why is my transaction size too large?
The Cardano network also has a maximum transaction size. If you try to send ADA with too many inputs in it then you might go over the size limit and won’t be able to send out your ADA.
If you try to send a transaction that is over the transaction size limit, you will receive an error message that the Transaction size is too large.
This is similar to receiving small mining payouts with other UTXO-based assets.
How does this happen?
The most common way this happens is when trying to claim your generated ADA rewards too often. Each time you claim your ADA rewards, you create another input transaction of a small amount of ADA. Then when you try to send some ADA, your wallet has to put all of the small inputs together which can make it go over the transaction size limit.
How do I fix this?
Luckily for you, Exodus has built-in a feature to help you clean up all your small inputs.
What Exodus does is gather together as many small inputs as it can fit into one transaction then send it to yourself.
For example, Exodus might see you have 100 or more inputs (which is too many). Exodus lets you know this is too many, and you can choose to fix it. Then your wallet will split your inputs into multiple transactions and send them back to you. When this is complete, you will have merged your ADA inputs, which will fix the issue of the transaction size being too large.
This will incur a network transaction fee. To learn more about transaction fees, visit: Does Exodus have transaction fees to send or receive?
If you see this error:
Then please follow these steps:
- First, click Fix this.
- You can have a look at the Cardano network fee here. Then click Yes, Continue.
- You will see a message Merging Cardano transactions. Please do not close Exodus until this process is complete.
Once you see the
Transactions Merged screen, then your ADA inputs have been merged, and you can proceed to send out your ADA!
How do I avoid this from happening in the future?
In order to prevent this from happening in the future, you can avoid creating too many inputs. This can mean not claiming your ADA rewards very often. Your ADA rewards will always be at your address waiting to be claimed, and your unclaimed rewards automatically get added to your staking balance, so there is no downside to waiting a bit longer for more ADA rewards to accumulate before you claim your rewards.
What is the deposit confirmation requirement?
When receiving Cardano (ADA) in your wallet, you will need to wait for your incoming transaction to be confirmed before you are able to send it.
What this means is your ADA is locked until it is mined in a block in order for it to be confirmed. In Cardano's case, wallets keep the funds locked for 5 minutes.
Say you have a balance of 10 ADA.
One spendable output of full 10 ADA:
In this example when you send 2 ADA to someone, this whole 10 ADA output gets used and the change comes back to you in a new output. Let’s say your fees were 0.01. Your transaction, therefore, sends one output with 10 ADA, and has 2 outputs, one for 2 ADA (the recipient) and one for 7.99 ADA (your change). Because the transaction needs to be confirmed, your change (7.99 ADA), will be locked for 5 minutes.
Two or more spendable outputs of 3 ADA and 7 ADA:
If the original balance was spread over 2 spendable outputs and you just want to send 2 ADA, only one of those outputs would be used, say the 3 ADA output. That means only your change leftover from just the 3 ADA output would be locked for 5 minutes. The other output of 7 ADA is untouched and would not be locked and would be free to spend straight away. Only what is spent needs to wait for 5 minutes.
Why is some of my Cardano balance locked?
If you hold Cardano tokens or NFTs at your Cardano address, you might have noticed that some of your ADA is locked.
This is due to the Cardano network requiring you to lock away some ADA for every token and NFT your wallet holds. The amount of ADA locked is not a fixed amount and can change depending on how many tokens and NFTs you hold.
You can unlock your Cardano balance by withdrawing your Cardano tokens and NFTs.
How do I see my locked balance inside of Exodus?
The amount of ADA you have locked will be shown to you inside the Cardano wallet in Exodus:
Can I send Cardano tokens or Cardano NFTs to Exodus?
Exodus does not yet support Cardano NFTs or Cardano tokens. Please refer to our article NFTs in Exodus to learn more about the NFT Gallery.
With Cardano, tokens are bound to the ADA transaction output model. This means that sending ADA funds can also send the tokens attached to that address.
While the transaction will be successful on the ADA network, you won't have the ability to interact with the Cardano NFT or token in Exodus. Your tokens and NFTs will be safe at your ADA address, but they will not be accessible in Exodus.
You can confirm your NFT and token were received using a Cardano NFT explorer such as Pool.pm. Copy and paste your ADA address into the search field and hit Enter. Here you will see all NFTs and tokens located at your ADA address.
Sending an ADA transaction from a wallet that holds a Cardano NFT can result in sending the NFT along with the ADA funds. Be careful when sending ADA funds from wallets that also store ADA NFTs as these will not show in Exodus.
I accidentally sent a Cardano native token/NFT to Exodus - what should I do?
If you have accidentally sent a Cardano native token or NFT to your Exodus wallet Cardano address, then please do not worry! Follow the steps below to send it to a platform that supports Cardano native tokens/NFTs:
- Open your Cardano wallet inside of Exodus and click the three dots in the top right corner then select Send Native Tokens.
Enter a Cardano address that supports Cardano native tokens or NFTs, and when you are ready, click
This will send all native tokens and NFTs currently in your Cardano wallet in Exodus to the destination of your choice, and a network fee will incur.
And you are done! Your Cardano native tokens or NFTs will arrive at the destination address soon.
You will need to use a computer that you trust to perform the below steps.
- First, find a computer that you trust and download Exodus on it.
- Link your mobile wallet to your desktop device following this guide: How do I sync my Mobile wallet to a computer?
- Now, follow the desktop instructions to see how to send your Cardano native tokens or NFTs out of Exodus..
If you do not want to keep your Exodus wallet on the computer anymore, follow this guide to completely remove it.