There are currently roughly 5.7 million tokens on the Cardano (ADA) network, however it’s not always straightforward to store these tokens. The renowned manufacturer of “hardware” cryptocurrency wallets, Ledger, is now changing this. The company will support up to 100 coins on the Cardano network.
100 Cardano tokens that are compatible with Ledger
Ledger has announced that its 100 native Cardano tokens will now be of assistance. You can now receive and send these 100 tokens through the same Ledger app that you use for ADA. Ledger reports that transactions function identically, with the same low transaction fees, high speeds, and solid security you’ve come to expect from standard Cardano transactions.
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Ledger now supports Cardano tokens such as Aada (AADA), a DAO token for DeFi, the ADAX-DEX, the World Cellular Token, and DANA. The remaining 95 Cardano tokens are significantly less popular.
No claims are made regarding the tokens’ suitability for lending or swapping, for example. The accompanying Ledger Dwell software application offers these prospects for a fee, but the company must partner with other businesses to do so. There will be further updates on this matter in the future.
Ledger reportedly implies that it aims to provide help for new coins, decentralized applications (dApps), and more to its “hardware” wallets in the future.
Recently, the company has been working diligently to improve performance. Until not too long ago, it was not possible to retailer ADA tokens on a Ledger Nano. This only became possible in June.
Ledger is now also functioning with FTX, allowing you to buy and sell bitcoin (BTC) quickly using your “hardware” wallets. Additionally, in 2021, it developed its own bank card, which, in certain locations, allows it relatively simple to convert cryptocurrency into fiat currency and then spend it.
