Ledger Live Update News

It continues to get easier for investors and cryptocurrency enthusiasts to take control of their assets as the ecosystem continues to develop and deploy technology to make it easier and safer to participate in the asset class. One of the first resistant arguments received from many thinking about starting to allocate capital to the asset class is security. The asset class has been known for mismanagement of assets and risks of hacking and losing assets not under our control. The biggest risk continues to be the fact that exchanges remain vulnerable to losing assets if controls are not put in place. Given the still immature and inconsistent level of regulation around the world, there is really no guarantee that our assets are protected when in an exchange.

Hardware wallets have made it possible to easily take control of these assets for safeguarding. We have seen advancements in the hardware wallet space in a number of ways as they have made interfaces easier, expanded support for more assets, and integrated even asset swap and exchanges within their technologies. I personally believe that Ledger is a market leader in this technology with their suite of products. Not only do they have the hardware solutions, but their software has become much better as well.

Their hardware wallets were made popular during the 2017 bull run which made the Ledger Nano S probably the most popular hardware wallet given the support to a number of assets as well as their accessible price. However, even production was not good enough to keep up with demand those days as they quickly had shortages which kept waiting lists for customer wanting one. Another limitation was the memory of the devices which often did not allow customers to have enough memory for all their assets which led to customers having more than one at times. However, earlier this year were able to launch their newest Ledger Nano X device which not only expanded the amount of assets it can hold but also provided a seamless integration to mobile devices via bluetooth with their Ledger Live application.

The Ledger Live is now their main software solution which has been a great desktop and mobile option to interface with the hardware wallets. I have personally used it and enjoyed it flexibility and user interface. While sometimes plagued with connectivity, it continues to be one of the easier applications to use given the amount of supported assets. However, one of the challenges often seen were the integration of supporting ERC-20 token based on the Ethereum network.

Now, Ledger has announced that they have materially expanded support for over 1,250 of these ERC-20 tokens through their Ledger Live application. This now makes the hardware wallets more flexible and capable of being a great solution to many investors of the cryptocurrency asset class. While I am not a very active trader, I really appreciate not only having a growing list of supported assets but also the mobility that continues to grow given the latest bluetooth enabled connectivity with mobile devices. This could be a great future for those of us that really want to transact with our assets on a daily basis. I am looking forward to looking at this added functionality for my "on the go" wallet!

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