Maker hardware wallet

The best wallet for your Maker coins

Secure your Maker tokens with the most trusted hardware wallet. Cold storage wallets are encrypted devices that store your Maker assets offline, providing a layer of security against the evolving threats emerging from being connected to the internet.
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How to use Maker with Ledger

What is Maker?

MKR is a cryptocurrency depicted as a smart contract platform and works alongside the Dai coin and aims to act as a hedge currency that provides traders with a stable alternative to the majority of coins currently available on the market. Maker offers a transparent stablecoin system that is fully inspectable on the Ethereum blockchain. Founded almost three years ago, MakerDao is lead by Rune Christensen, its CEO and founder. Maker’s MKR coin is a recent entrant to the market and is not a well known project. However, after today it will be known by many more people after blowing up 40% and it is one of the coins to rise to prominence during the recent peaks and troughs.
After being developed by the MakerDAO team, Maker Dai officially went live on December 18th, 2017. Dai is a price stable coin that is suitable for payments, savings, or collateral and provides cryptocurrency traders with increased options concerning opening and closing positions. Dai lives completely on the blockchain chain with its stability unmediated by the legal system or trusted counterparties and helps facilitate trading while staying entirely in the world of cryptocurrencies. The concept of a stablecoin is fairly straight forward – it’s a token that has its price or value pegged to a particular fiat currency. A stablecoin is a token (like Bitcoin and Ethereum) that exists on a blockchain, but unlike Bitcoin or Ethereum, Dai has no volatility.

MKR is an ERC-20 token on the Ethereum blockchain and can not be mined. It’s instead created/destroyed in response to DAI price fluctuations in order to keep it hovering around $1 USD. MKR is used to pay transaction fees on the Maker system, and it collateralizes the system. Holding MKR comes with voting rights within Maker’s continuous approval voting system. Bad governance devalues MKR tokens, so MKR holders are incentivized to vote for the good of the entire system. It’s a fully decentralized and democratic structure, then, which is an underutilized USP of blockchain tech.

Value volatility is a relative concept among both cryptos and fiat currencies. The US dollar, for example, was worth 110.748 yen on July 9, 2018. On July 4, 2011, $1 was worth 80.64 yen, and on March 18, 1985, $1 was worth 255.65 yen. These are major differences in exchange rates, and inflation within each country makes each currency worth different values even when compared to themselves. One USD in 1913 is worth the equivalent of $25.41 today, and even $1 in 1993 is worth the equivalent of $1.74 today. Stablecoins don’t negate these basic economic principles of value. Instead, both Tether and Dai have values pegged to the U.S. dollar. This is done to stabilize the price.

What is a Maker wallet?

To store and manage Maker, you need a compatible cryptocurrency wallet. Whether you’re looking to keep your coins safe and HODL or manage them on a daily basis, Ledger has the right product for you.

Ledger hardware wallet

Ledger hardware wallet stores your private keys and signs transactions offline, making them resistant to malicious attacks and threats.

Ledger Live App

Ledger Live App is a gateway to managing your assets, staking and earning passive income, checking your real-time balance, tracking transaction histories, and more.

How to get a Maker hardware wallet?

01

Get Ledger Nano

Select and purchase a Ledger wallet of your choice. Beginner in the crypto world? Get started with Nano S Plus. Prefer a Bluetooth connection? Try with Nano X.

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02

Download and install what could be the best crypto wallet app: Ledger Live

Download and install Ledger Live in a couple of clicks. Ledger Live is a crypto app for desktop & mobile that enables you to set up a Ledger device and manage your assets.

Download Ledger Live

03

Add Maker to your portfolio

Install Maker on your Ledger Nano:

  1. Open Ledger Live and navigate to Manager.
  2. Connect and unlock your Ledger device.
  3. Search for Maker in the app catalog and click Install.

04

Create a Maker account in Ledger Live:

  1. Open Ledger Live and head to Accounts.
  2. Click Add account.
  3. From the drop-down menu select Maker.

You’re all set!

Buy, manage, and stake Maker at your fingertips

Ledger Live is your one-stop platform for smooth and complete asset management. With just a few clicks, you can buy, send/receive, (swap), and stake Maker to generate passive income. Buy, send/receive, swap, stake, and other crypto transaction services are provided by third-parties partners.

Buy Maker

You can purchase Maker through our partners with a credit card or bank transfer. Maker will be automatically sent to your Ledger device.

  • Head over to Buy/Sell. – In the dropdown menu, select Maker and click Continue. – Choose one of the three payment providers—Coinify, MoonPay or Wyre—and follow the instructions.

Buy Maker

Swap Maker

Swapping allows you to test out different cryptocurrencies, protect assets from volatility, and diversify your portfolio. Through Ledger Live, you can swap one asset for another without using fiat currencies.

  • Head over to Swap.
  • On the Exchange page, select the accounts that you want to swap.
  • Enter the desired amount and click Exchange.
  • Connect and unlock your Ledger device.
  • Follow the instructions to confirm the swap.

Swap Maker

1

The best way to keep your Maker coins secure

Secure multiple assets, including Maker using a Ledger hardware wallet. Your private keys, giving access to your assets, remain safe in a certified secure chip.

Ledger Nano S

NEW

LEDGER NANO S PLUS

Protect your Maker assets with the first and only independently-certified Maker wallet on the market.

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Ledger Nano X

BEST SELLER

LEDGER NANO X

The Ledger Nano X is a Bluetooth enabled secure and CES award winning device that protect your Maker assets.

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Choice of 5,000,000+ customers

Bertil A.

5/5

In order to secure cryptocurrencies, Ledger is the perfect tool.

Kevin L.

5/5

Simply a very elegant peace of hardware, with a gorgeous UI in the app.

James P.

5/5

ALL is good, all legal resources bought was as specified and compliant, party on.

Read more reviews

Frequently Asked Questions

When you first buy coin, you’re issued with two keys: public and private.

  • A public key serves as an address that can be shared with other parties to perform transactions.
  • A private key represents a randomly generated number that signs transactions and protects your assets from malicious attacks. If it gets compromised or lost, you won’t be able to access your crypto wallet to spend, withdraw, or transfer your assets.

To safeguard and keep track of your keys, you can use online or offline wallets. Online wallets, also known as hot wallets, store private keys on systems or devices that are connected to the internet. Hot wallets are easy and convenient to use, however, they come with several drawbacks. Besides being susceptible to attacks and a honeypot for hackers, with hot wallets, the custody of private keys is often entrusted to a third party such as a crypto exchange, which means you never have full control over your funds. The safer choice are specialized hardware wallets that store private keys offline. Stealing private keys from a hardware wallet would require physical access to the wallet and corresponding PIN or the recovery phrase. What’s more, with hardware wallet, you don’t need to rely on third party custodians.

Ledger Nano is the industry-leading hardware wallet. With more than five million customers, Ledger Nano wallets have several layers of security that protect private keys, and hence your assets:

  • Your private keys are stored on secure element chips.
  • A PIN code and a 24-word recovery phrase are required to access the wallet.
  • Ledger Nano hardware wallets have been built using highly durable materials for protection against physical damage.

With full isolation between private keys and your computer/mobile, Ledger Nano crypto wallets keep your keys secure and give you complete control over your assets.

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