There are undoubtedly a lot of cryptocurrencies available on the market these days. But not all currencies have the same value. The most important thing you’ll need to do with cryptocurrencies, which they share, is to ensure security. One way you can do that is by putting them on your Ledger wallet so that you’ll have some form of protection if your account gets hacked or stolen. We’ll show you how that’s done and outline some of the cryptocurrencies you can put in your Ledger wallet.
What’s a Ledger Wallet?
Ledger wallets refer to hardware wallets, one of the safest ways to store cryptocurrencies. They’re physical devices in the shape of tiny computers which only let you keep your currency and nothing else. They can be used to store your crypto on smartphones and computers. The Ledger wallet functions as a storage device, meaning it makes sense to keep your coins there. The security of this type of hardware is highly comparable to the security measures banks take on their premises and when they go digital. It would help if you connected the Ledger wallet to your computer or smartphone, put in the PIN code, and pressed connect.
Is it possible to stack crypto on Ledger?
What’s even better is the fact that you can stack multiple cryptocurrencies on your Ledger wallet at the same time. The compatibility of the Ledger wallet extends to a vast range of digital currencies, which include: Bitcoin, Litecoin, Ethereum, etc. And there are also a lot of other additional features that you can take advantage of, such as 2-factor authorization and U2F authentication. The setup is straightforward, and you must get yourself a ledger wallet, make sure it’s updated, and then connect it to your computer or smartphone. After that, open the ledger manager and select “add a new cryptocurrency .”You’ll then be asked to enter the name of the currency you want to put on your ledger wallet.
Why Stake Through Ledger?
Ledger is committed to providing security and reliability for its users. That is why they are not just making it possible to store cryptocurrencies but ensuring that the storage process is as safe as possible. Ledger has been testing the waters for some time now, and no one else can compete with them in terms of usability and ease of use. Using the Ledger wallet, you’re not just putting in your password for security. Still, you’re also utilizing the 2nd-factor authorization and U2F authentication, which all make overall security even more secure. With the multitude of features that the Ledger wallet provides, there’s no way anyone can hack into your account and steal your crypto. It is very secure and highly reliable because they’ve kept everything as simple to use as possible.
Which cryptocurrencies can be staked with Ledger wallet?
You can use a wide range of cryptocurrencies on your ledger wallet. You can choose from :
- Ethereum (ETH)
- Polkadot (DOT)
- EOS (EOS)
- Tezos (XTZ)
- Cardano (ADA)
- Tron (TRX)
- Neo (NEO)
- Cronos (CRO)
- Nem (XEM)
- Cosmos (ATOM)
- Terra (LUNA)
- Internet Computer (ICP)
- Elrond (EGLD)
- Algorand (ALGO)
- Avalanche (AVAX)
- Kusama (KSM)
- NEAR (NEAR)
- Stacks (STX)
- Waves (WAVES)
- Xinfin (XDC)
- Oasis Network (ROSE)
- Solana (SOL)
- Hive (HIVE)
- Ark (ARK)
- Wanchain (WAN)
- Secret (SCRT)
- Casper (CSPR)
- Nervos Network (CKB)
- Particl (PART)
- Centrifuge (CFG)
- DOCK (DOCK)
- LTO Network (LTO)
- Edgeware (EDG)
- Axelar (AXL)
- xx network (XX)
- Symbol (XYM)
- Matic (Polygon) (MATIC)
- Polymath Network (POLY)
You will have to contact the support team for any additional questions that you may have about this process.
What Are The Best Ledger For Staking?
The Ledger Nano X is probably the best one to start with. It’s more expensive, but it is effortless in terms of features and usability. Some other hardware wallets are compatible with the Ledger, which you can get, such as the Ledger Unplugged. It’s worth noting that these hardware wallets are not only compatible with the Ledger Nano X but also with any other ledger hardware wallet.
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How to stake crypto with Ledger Live?
There are different options for staking with a Ledger hardware wallet. Some cryptocurrencies allow for double-spend, meaning that even if you’re the one who sent the transactions, you still can’t spend them. Other cryptocurrencies work differently by having a code lock on your wallet. In that case, you would need to unlock your Ledger wallet with a PIN code. You can either use the first-party Ledger Live app or the Ledger Manager to do that, depending on your cryptocurrency. Double spending works by notifying the network to return any amounts sent back to their respective addresses. The Ledger Live app is used for interactions with the ledgers and includes other features, such as buying and selling cryptos.
You can track how much money you’ve made and what you’re currently making or losing in real-time. There are web wallets available that provide users with charts that are updated in real-time. It’s an effortless way to save your crypto because you must connect it to the internet and let it do its thing. The Ledger does indeed work automatically, so there is no way for you to mess up anything. You only need to ensure that your ledger wallet is constantly updated and connected to the internet to proceed with the staking process.
