Cardano’s Ada Now Supported on Ledger Nano S 🚨 This article is 6 years old...
Cardano’s Ada Now Supported on Ledger Nano S
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Updated: Nov. 7, 2019 at 2:21 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Cardano’s Ada is now supported on popular hardware wallet the Ledger Nano S. Now, Ada investors can store, interact with, and invest in the cryptocurrency using one of the leading hardware wallets on the market.
On Mar. 27th, EMURGO—the commercial arm of Cardano—announced Ada support for the Ledger Nano S. Users will now be able to store and interact with their Cardano private keys through Ledger’s wallets.
Ledger is one of the leaders in cryptocurrency hardware wallets globally with more than 1.5 million devices in circulation. As of Mar. 27th, the popular Ledger Nano S announced support for Cardano’s cryptocurrency Ada.
A Secure Companion to Ada
A study form Ledger showed there was still $850 million stolen from exchanges in 2018, emphasizing the need for secure hardware devices like Ledger. Storing private keys in cold storage—offline through the use of these hardware devices—is one of the safest options for crypto investors.
Moreover, rather than having an exchange or other third-party control someone’s private keys, using a hardware wallet gives users complete control over their cryptocurrency, with scandals like QuadrigaCX iterating the need for self-custody.
Now, Cardano enthusiasts can store, interact with, and invest in Ada using one of the leading hardware wallets on the market. In a statement from the CEO of Ledger, Eric Larchevêque:
“Our integration with Cardano is something the Ledger community has been looking forward to for a long time. We are constantly working to respond to the needs of our customers, so we’re thrilled to officially welcome Cardano to the Ledger platform, offering ADA investors world class security for their crypto assets.”
Software Contributions from Emurgo
According to the announcement, Emurgo developed the “Yoroi wallet” as the first official companion software to support the Cardano Ledger hardware wallet. The initiative was funded by the Cardano Foundation with support from Vacuum Labs and IOHK.
Emurgo’s CTO, Nicolas Arqueros said:
“I am delighted at this integration finally being released to the public. This is an event that many people have been looking forward to for the past year. I am especially thrilled to see so many teams come together and cooperate on what really is ground breaking news in the industry, and foreshadow many more exciting commercial developments for Cardano in 2019.”
Emurgo is the official commercial arm of Cardano that provides value to ADA holders by “building, investing in, and advising” projects that adopt the Cardano blockchain. The integration represents another step towards the greater use and availability of both the Cardano blockchain and its underlying Ada cryptocurrency.
Cardano Market Data
At the time of press 2:21 am UTC on Nov. 7, 2019, Cardano is ranked #9 by market cap and the price is up 13.8% over the past 24 hours. Cardano has a market capitalization of $2.35 billion with a 24-hour trading volume of $238.78 million. Learn more about Cardano ›
Crypto Market Summary
At the time of press 2:21 am UTC on Nov. 7, 2019, the total crypto market is valued at at $173.25 billion with a 24-hour volume of $77.67 billion. Bitcoin dominance is currently at 50.49%. Learn more about the crypto market ›
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Cardano
$1.09261
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Input Output
Input Output Hong Kong (IOHK) is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all.
EMURGO
EMURGO Ventures is a wholly owned investment subsidiary of parent company EMURGO Ptd.
The Ledger Nano S is built around a secure chip, ensuring the highest security to date.
Yoroi is a light wallet for Cardano used to send, receive, and store ADA, Cardano’s underlying cryptocurrency.