With Ledger you stay on the safe side

At least since auction house Sotheby’s sold art in the form of an NFT (non-fungible token) for US$69 million in March 2021, digital collectibles have been on everyone’s lips. But NFTs aren’t just limited to digital art. NFTs are becoming increasingly important, especially in blockchain games and the metaverses Decentraland, The Sandbox and Co.

At least as important is the issue of safe 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 have no right to get them back in case of security problems.

Ledger enables safe storage of NFT

So there is no doubt: NFTs should also be kept safe – just like any other digital asset. The wallet provider Ledger offers the right solution here. Because besides the features like crypto depository, staking and many more, NFTs can also be stored on the ledger wallet.

This is how Ledger manages the balance between security and convenience. Because the NFTs can be stored, visualized and managed via the Ledger Live app without having to compromise ownership. The associated private keys always remain in the hands of the users.

Store NFT with Ledger Live and Ledger Hardware Wallet

Ledger has found an elegant middle ground so that you don’t have to compromise on comfort and at the same time maintain the greatest possible security. 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, exchange or other functions can also be managed in the Ledger live app. This function is mainly made possible by Ledger’s cooperation with the respective providers, which are integrated into the Ledger live environment.

To confirm the respective actions, you need to use the hardware wallet in the form of Ledger Nano. This resembles a USB stick in form and function and can be connected to the computer via cable. To unlock it, users need their personal PIN. The private keys are stored on it, ensuring double security for your own assets.

All Ledger Nano wallets work according to the same principle: What is not connected to the Internet cannot be hacked. Also known as a cold storage solution in crypto jargon. But the company does not stop there. The ledger solution also makes it possible to sign transactions offline. If you take care to keep your seed set safe, you can be sure that your own keys will not be lost.

It is 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 security, Ledger doesn’t stop there. Interaction with other platforms is also possible. With the new “Discover” option in the Ledger live environment, you can not only view your own NFTs, but also send them. The app currently interacts with the Rainbow.me wallet and POAP protocol for proof of attendance. Additional collaborations are planned to provide users with a comprehensive NFT experience. Of course, the interaction with the Metamask wallet should not be missing either – with it you can connect to all major NFT platforms.

What if something gets lost?

But even if the computer breaks or the 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, anywhere.

Curious? Here you go directly to Ledger.

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