Cardano (ADA) Gets Full Ledger Nano S Hardware Wallet Support
The asset is adding a new level of security after being added to the portfolio of the hardware wallet.
Cardano (ADA) moved one step closer to wider acceptance by being fully integrated with the popular Ledger Nano S hardware wallet. Now, the device can protect the private keys of the Cardano network. The device is also compatible with the Yoroi wallet, an official app to store ADA assets, created by Emurgo, the commercial arm of the Cardano project.
“This is an event people have been looking forward to for the past year. I am especially thrilled to see many teams come together and cooperate on ground-breaking news in the industry. It foreshadows many more exciting commercial developments we have in store for Cardano in 2019,” said Nicolas Arqueros, CTO of EMURGO.
The announcement arrives at a time when the Cardano network has moved closer to its final consensus mechanism. The asset is also going through a growth phase, gradually moving out of its low prices under $0.04 in the past few months.
“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,” said Eric Larchevêque, CEO of Ledger.
Following the news of Ledger integration, the ADA market price remained almost unchanged at $0.065, as the rally of the past few days is, for now, consolidating around the new price. ADA has remained out of the spotlight for a while, but now Coinlib data show that ADA is once again inviting inflows of several crypto assets, most notably Tether (USDT) and Bitcoin (BTC).
ADA trading remains highly dependent on Binance, and the concentration of trading means the asset may see more focused interest in the coming months.
Cold storage is seen as one of the biggest achievements for the newly arrived coins and tokens. Despite the discovery of potential exploits of the devices, Ledger Nano S along with Trezor remain one of the most tamper-proof methods to store digital assets.
The Cardano network is still relatively new, and carries a limited number of transactions, as it lags behind competitors like Ethereum (ETH), EOS, TRON, and others.