At least since auction house Sotheby’s sold art in the form of a $ 69 million NFT (non-fungible token) in March 2021, digital collectibles have been on everyone’s lips. But NFTs are not just limited to digital art. NFTs are becoming increasingly important, especially in blockchain games and the metavers Decentraland, The Sandbox and Co.
At least as important is the issue of secure storage of the NFTs. Because the digital collectibles often remain on the hot wallets of the respective NFT marketplaces. There they are only partially secured. Anyone familiar with the crypto space knows: not your keys, not your coins. And the same goes for NFTs. In other words: If you do not manage your personal access keys (private keys) yourself, you do not have the right to get them back in case of security problems.
Ledger enables secure storage of NFT
So there is no doubt: NFTs should also be stored securely – just like any other digital asset. The wallet provider Ledger offers the right solution here. Because in addition to the features like crypto depot, staking and many more, NFTs can also be stored on the general ledger wallet.
How Ledger manages the balance between safety and convenience. Because the NFTs can be stored, visualized and managed via the Ledger Live app without having to compromise on ownership. The associated private keys always remain in the hands of the users.
Save NFT with Ledger Live and Ledger Hardware Wallet
Ledger has found an elegant middle ground so you do not have to compromise on comfort while maintaining the greatest possible safety. On the one hand, there is the Ledger Live software solution. With it, users have a dashboard where they always have an overview of all their assets. These include Bitcoin, Ether and other cryptocurrencies, but also NFTs. All functions such as sending, trading, exchanging or other functions can also be controlled in the Ledger live app. This feature is mainly enabled by Ledger’s collaboration with the respective providers, which are integrated into the Ledger live environment.
To confirm the respective actions, use the hardware wallet in the form of Ledger Nano. This is reminiscent in shape and function of a USB stick and can be connected to the computer via cable. To unlock it, users must have their personal PIN code. The private keys are stored on it, ensuring double security for your own assets.
All Ledger Nano wallets work on the same principle: What is not connected to the Internet cannot be hacked. Also known as a crypto-jargon cold storage solution. But the business does not stop there. The Ledger solution also makes it possible to sign transactions offline. If you make sure to keep your seeding safe, you can be sure that your own keys are not lost.
It’s not for nothing that the Ledger Nano is the first (and only) hardware wallet to be awarded for its security. With the built-in Secure Element chip, the wallet is protected against even the most sophisticated hackers.
But when it comes to safety, Ledger does not stop there. Interaction with other platforms is also possible. With the new “Discover” option in the Ledger live environment, you can not only see your own NFTs, but also send them. The app is currently interacting with the Rainbow.me wallet and the Attendance Certificate POAP. Additional collaborations are planned to provide users with a comprehensive NFT experience. Of course, the interaction with the Metamask wallet should not be lacking either – with it you can connect to all major NFT platforms.
What if something is lost?
But even if your computer crashes or your hardware wallet is lost, there is a way to recover your assets. With the personal recovery phrase – a combination of 24 words – users can recover their private keys anytime and anywhere.
Curious? Here you go directly to Ledger.
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