Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

35688

Avalanche integrates with Ledger for users to securely store AVAX

RELATED TOPICS​

Ledger, a specialist in cryptocurrency and blockchain security, now fully supports Avalanche (AVAX) on its Nano S and Nano X hardware wallets. 

The integration enables users to securely store and access their AVAX tokens on both X-Chain and C-Chain addresses using Ledger wallets. 
 
Hardware wallets play a vital role in helping users secure their cryptocurrency holdings and digital assets. It does so by storing your private key – which is used to authorise transactions from your Avalanche Wallet–offline in a device. 
 
For transactions involving the tokens or assets whose private keys are stored on a Ledger, the user must have physical access to the device to execute the transaction.
 
In doing so, users are adding another layer of security between their assets and malicious actors. Even if a bad actor is successful at attacking cryptocurrency users’ digital properties, they too would need the physical device to complete their theft.
 
Security is of the utmost importance for users accessing DeFi. As assets and applications rapidly grow in Avalanche, Ledger support is a vital component of the DeFi user experience. Since the beginning of March, users have executed more than 1,200,000 smart contract transactions and created 50,000 unique wallets on Avalanche.
 
“We are very happy to support Avalanche and would like to thank the Ava Labs team for making this integration possible. Ledger and Avalanche users can now safely manage their assets and properly review their transactions details on their Ledger device before signing,” says Fabrice Dautriat, Head of Coin Integration at Ledger.
 
Note, starting today, Ledger users must upgrade their hardware to Version 0.5.2 to continue using their devices with the Avalanche Wallet. For more guidance on how to use Ledger hardware devices to help secure your AVAX, please see the following tutorial.


Did you like this article? We’re holding an online digital assets summit on 10 June. Click here to claim your place…

 

Latest News

Iress has announced that it has extended its partnership with Dow Jones Newswires to give..
The Financial Conduct Authority (FCA) writes that in new rules, it has set out a..
GAM has announced it has reached a definitive agreement to transfer its Management Company activities..

Related Articles

infrastructure headline
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the UK’s growth ambitions...
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the..
Tom McPhail, lang cat
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a widely predicted Labour win...
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a..
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving the UK’s growth ambitions is increasingly on investors’ agendas...
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving..
Duncan Higgs, Bfinance
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges in investment management fees and costs across various asset classes...
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by