IOTA to become one of the cryptocurrencies storable on the Ledger Nano S hardware wallet in few weeks. This was made known via a tweet by IOTA news on the 4th of October.
Cryptocurrency and Security
Cryptocurrencies massive growth and development have led to a significant influx of users, mostly for speculative reason. Despite the increase in numbers of users and trust in the efficiency of cryptocurrency, this trust has been plagued by the issue of safety of cryptocurrency holdings.
The security breach in the form of hacks and scams have made the cryptocurrency space unsafe. Cryptocurrency wallets have been prone to hacks on cryptocurrency wallets, and also on exchanges. Nevertheless, the crypto space still has a little faith in hardware wallet security, though it still has its deficiency, however not as complicated as others.
Ledger Nano S Wallet and features
Ledger Nano S wallet is one of the hardware wallets that has proven to be a fortress for cryptocurrency holders, from the malicious act of hackers.
The cryptocurrency wallet supports over 30 cryptocurrencies which include, Bitcoin, Ethereum, and XRP cryptocurrencies. This aids management of different assets with the same wallet.
Further, its operation and use are simple, as two buttons control the device and all actions can be verified on its screen, the Ledger wallet aids easy management and security of cryptocurrency transactions.
Notably, it offers a higher level of safety for cryptocurrency holdings, as crypto assets remain safe even when the hardware wallet is lost. How? Crypto holdings can be restored on any Ledger device in as much as the confidential recovery phrase that backs up a device is provided.
Cryptocurrency To See Better Protection
In furtherance of keeping cryptocurrency holdings safe and making crypto enthusiasts enjoy better safety in addition to the over 30 cryptocurrencies supported by the Letter Nano S wallet, IOTA would be listed in a few weeks.
The statement to this effect which was shared on Twitter reads;
“The development of supporting #IOTA Tokens on the #LedgerNano S wallet has progressed very far. Charlie Varley, IOTA Software Engineer: “We will be looking at Ledger Nano integration over the next few weeks. […]” Get your Nano S, free worldwide shipping: https://t.co/w81YvWEY2J https://t.co/tXVB581f7z.”
This is good news to both the IOTA community and the cryptocurrency community at large as IOTA sees better ways of keeping its crypto coins safe.