How to Manage your Crypto with your Ledger Device

Beginner Mar 13, 2020

Ledger Manage
Key takeaways:
– Ledger Live can be used for installing applications onto your device, as well as managing 27 different cryptocurrencies.
– With the help of our partners, Ledger Live enables you to buy, sell, exchange, stake or lend crypto.
– Other crypto assets can be managed through Ledger devices with wallet applications created by third party developers and communities.
– Some crypto assets can be managed through both Ledger Live and a third-party wallet.

Ledger Live is the all-in-one tool to manage your crypto through your Ledger device, creating a convenient and user-friendly experience. As the one-stop-shop for all your digital assets, Ledger Live enables you to buy, sell, exchange, stake and lend crypto in one single app. It is, however, not the only wallet application that can be used to manage your precious crypto assets.

Manage your Crypto with Ledger Live

Ledger Live has been created to provide you with the best possible crypto experience. Currently, a total of 27 crypto assets and more than 1500 tokens can be managed directly through Ledger Live. Check out all supported crypto assets here.

On top of that, Ledger’s ecosystem enables you to enjoy security, ownership and ease of use when looking after your crypto. As part of this ecosystem, Ledger Live is an all-in-one app that allows you to do everything you want with your digital assets. Ledger Live doesn’t only give you the possibility to set up your hardware wallet and create and manage multiple accounts and check your balance in real-time — it’s also the easiest way to start your crypto journey. All these features are encompassed in the most secure device in the market.

Today, Ledger Live gives you access to all the crypto management services you need. You can buy, sell, exchange your crypto directly on the app with our partners. Furthermore, you can easily grow your assets by securely staking crypto like Algorand, Cosmos, Tezos or Tron. And you can also lend other digital assets using Compound lending services. In other words, Ledger Live is the one-stop-shop for your crypto.

Of course, every action you take within Ledger Live is secure, thanks to your Ledger hardware wallet. From transaction to delegation, everything is verified and validated through your device.

When to Use Third-party Wallets

While you do need Ledger Live to install any application onto your hardware wallet, you might have noticed that not all cryptocurrencies compatible with Ledger devices can be managed through Ledger Live. They can instead be managed through dedicated third party wallet applications. These wallet applications are created by companies or communities that are not directly linked to Ledger. You can see which crypto asset can be managed through which wallets on this page.

You can also manage your crypto on your Ledger device using third-party wallet applications. The choice is yours. The principle of security remains: your device keeps the private keys to your cryptocurrency accounts completely offline.

So why use third-party wallets? Let’s take a closer look into a few of the reasons:

Community Development

A lot of applications for the Ledger Nano X and Ledger Nano S are not created by us – they are often developed and submitted by third-party developers and communities that would like to see their favorite crypto assets supported on Ledger devices. We’ve created a dedicated program to enable this. Naturally, any application that’s submitted will be reviewed by Ledger to make sure that it meets our standards.

We are extremely grateful to all the wonderful communities and developers who have made it possible for us to support dozens of crypto assets.

Backup utility

Quite a lot of major crypto assets that are manageable through Ledger Live can also be managed through third party wallets. A popular example would be Ethereum: while it’s natively supported – including for ERC20 token asset management – your device can be connected to either My Ether Wallet or MyCrypto to manage your ETH. The same goes for Bitcoin with Electrum.

There is an important use for this, however. If one of Ledger Live’s serving explorers crashes, you may not be able to use Ledger Live to manage your crypto during the outage. However, by connecting your Ledger device to a third-party wallet, you can still continue to transact with your cryptocurrencies.

Manage All your Crypto with your Ledger Device 

You can manage all the crypto assets you want with Ledger. 

Ledger Live is here to help you manage your assets and gives you access to all the crypto services you need in one single app.

You’re now aware that dedicated third-party wallets may exist to support assets that may not yet be supported on Ledger Live. The best part is, regardless of what app you’ve decided to use, your digital assets and private keys will remain secured by your hardware wallet! Good news, eh?

Start your crypto journey with Ledger and be the only one in charge of your money!

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