Ledger Nano S: Supported Cryptocurrencies
Ledger Nano S: Supported Cryptourrencies – Here, we review the cryptocurrencies with which the Ledger Nano S hardware wallet is compatible. This topic is of particular interest to cryptocurrency users and investors.
The Ledger Nano S is a safe alternative to vulnerable online software wallets. Produced by Ledger SAS, a French manufacturer, the Ledger Nano S comes highly recommended.
Over time, the suppliers have added support for a significant number of further cryptocurrencies. However, there is not a separate application for each cryptocurrency. Altcoins, for example, are all managed through the Bitcoin wallet. We will return to this point later.
Furthermore, Ledger SAS follows an open source policy on its website. Therefore, gaining an overview of the supported coins and tokens is straightforward. Alternatively, you will find the relevant information below on which cryptocurrencies the Ledger Nano S handles.
Ledger Nano S: Supported Cryptourrencies – Which Cryptocurrencies Operate with Ledger Nano S Applications?
As always, we should investigate the detail of a product before we buy it. After all, we want to know what to do with a purchase. On the apps page of the manufacturer of the Nano S, we will find the four apps listed. Specifically, the Nano S supports Bitcoin, Altcoin, Ethereum and Ripple tokens.
Initially, there seem to be disappointingly few currencies. This contrasts with the hype surrounding the Ledger Nano S, but there is more to this digital hardware. First of all, the respective apps provide a wallet for the respective cryptocurrencies.
As one would expect, the Bitcoin wallet holds Bitcoin and the Ethereum wallet stores Ethereum tokens. Similarly, the Ripple wallet is dedicated to the Ripple token.
Ledger Nano S: Supported Cryptourrencies – Interoperability Within Wallet Types
Additionally, users may have noticed that, for instance, the Bitcoin wallet also works with Altcoins. In the case of Altcoins, ‘Alt´ stands for “alternative”. In summary, the Bitcoin wallet hosts Bitcoin and a number of Altcoins. The Ethereum wallet can handle Ethereum and other ERC20 tokens. Ripple stays true to itself and supports its own digital money tokens.
Ledger Nano S: Supported Cryptourrencies: Currencies that Rely on the Bitcoin Wallet
As we already know, Altcoins can use the Bitcoin wallet. If you want to use one or more types of Altcoin, therefore, it is necessary to install the Bitcoin wallet. The easiest way to install this is through Ledger Manager.
The Ledger Manager app helps you install almost all the available cryptocurrencies for your device. In the Manager app, simply click on the green arrows behind the respective currency. The appropriate software then installs on your wallet.
The following list shows an overview of the currently supported coins and tokens:
- Bitcoin Gold
- Ethereum Classic
Ledger Nano S: Supported Cryptourrencies: ERC20 Tokens
You may have heard of ERC20 tokens. This type of token is not considered one’s own cryptocurrency. Rather, ownership relies on the Ethereum blockchain and follows the rules for ERC20 tokens. Transactions involving ERC20 tokens are basically Ethereum transactions with Ethereum addresses.
The online wallet MyEtherWallet is an alternative to the Ethereum Chrome application and suitable for ERC20 tokens. This digital wallet works with the Google Chrome and Opera browsers, without any additional apps. If you want to manage your ERC tokens, open the MyEtherWallet online. The sending and receiving of coins and tokens works in the same way as with Chrome apps.
Currently, the software supports more than 200 ERC tokens. A full listing is available with a quick search online, such as ‘ERC20 tokens for the Ledger Nano S’. In addition, the MyEtherWallet portfolio now also includes ERC223 tokens, which rely on the ERC20.
Ledger Nano S: Supported Cryptourrencies: Roadmap for Future Enhancements
On the French manufacturer’s website, you will find an area that informs readers about future supported cryptocurrencies. The roadmap provides a comprehensive overview of planned changes and enhancements. In addition, you will find detailed information about the status of the individual projects, neatly and clearly organized.
The Ledger Nano S is a successful product, thanks to its growing usability (among other factors). Ledger SAS is well placed, therefore, to respond to customer opinions and wishes. The French manufacturers appear to listen to user wish lists and to produce the desired enhancements.
In any case, the devoted user base of the small, comfortable and safe Ledger Nano S looks set to grow. Clearly, this can only be beneficial for customers. Consequently, there is a growing range of options for using the hardware wallet.
The possibilities for the use of ERC223 tokens are not yet foreseeable. With the Ledger Nano S, however, we can look forward to happy future cryptocurrency usage.