Developements

The Ledger wallet nano s has announced support for Monero

The cryptocurrency market needs more hardware wallets

Ledger is one of the biggest manufacturers of crypto hardware wallets known in the cryptocurrency industry. The Ledger manufacture has updated support for the Monero (XMR) for its Nano S device.

Some other popular hardware wallet manufacturers supporting  Blockchain and cryptocurrency projects include Trezors and Keepkey. The hardware wallets manufacturer has also made it clear that they are already offering compatibility with the Monero’s latest GUI 0.13 release date.

According to CEO Eric Larcheveque:

“We are thrilled to welcome another top-ten cryptocurrency to the Ledger platform with Monero, With this addition, Ledger devices now cover 90% of the entire crypto market capitalization.” 

Ledger is focused on supporting as many popular and beneficial cryptocurrencies as possible, as the need for investors keeping their coins safe has become more important over time given the increase in the number of hacks in the space.

According to earlier reports, Trezor is reported to have issued a warning about counterfeiters who have released fake versions of the Trezos wallet online and trying to lure buyers into buying them.

monero wallet

The company has also made an announcement that it will be expanding into New York and aims on the hiring of a former Intercontinental Exchange in order to direct its custody project ledger vault for institutions.

According to reports from Larcheveque in October the company sold more than 1.3 million Nano S units. Which makes Ledger one of the best selling products in the Blockchain industry today, as users find it safe and handy for storing crypto assets.

Monero is currently ranked at 12th place in the cryptocurrency market by capitalization, trading at around $60.88, one it’s lowest levels since it’s all-time high at the start of the year.

What is your opinion on the development of hardware wallets? please feel free to leave a comment down below.

coinmag

My occupation is the Research of blockchains and their practical applications in the economy. I have graduated through various levels of education, including electrical technique, Business, Psychology, and innovative technologies.

Leave a Comment

Your email address will not be published. Required fields are marked *