- Ledger has announced that Monero is now compatible with its Nano S Wallet
- This comes following Ledger’s expansion to New York to launch an institutional-grade arm and their introduction of Monero’s bulletproof protocol
Ledger announced in a blog post that their Nano s is now compatible with the Monero GUI 0.13. “We are thrilled to welcome another top-ten cryptocurrency to the Ledger platform with Monero,” said Eric Larchevêque, CEO at Ledger.
Ledger now supporting all major coins
“With this addition, Ledger devices now cover 90% of the entire crypto market capitalization. We will continue to support more crypto assets in the future, both through our own developments and with CryptoTuesday, our monthly release of apps developed by our incredible community.”
This comes only a few days following Ledgers opening of a new office in uptown New York, part of a move on Ledger’s part to expand into more institutional-grade business. As such, they are opening an institutional grade custody service called Ledger Vault.
About Ledger’s Nano S
The Nano S is a hardware wallet that allows cryptocurrency holders to store their private keys.
The keys are kept off the Internet by the Nano S which makes them essentially unhackable. It also provides users with the ability to validate their ledger transactions with ease.
According to Ledger, over 1.3 million of them have been sold, which means this new addition will see a very large scope of use.
More recently, the wallet was equipped with a ‘bullet protocol’ which reduces the sizes of transactions by up to 80 percent and thus, significantly reduces transaction fees, with XMR’s transaction fees falling about 97 percent to virtually nothing.
This move was seen as a game-changer by many in the industry and improves on the precedent of cutting down transaction fees across many cryptocurrencies and platforms.
Monero is currently ranked 12th among cryptocurrencies by market capitalization and currently trades at about $60.
With its addition to Nano S, the Monero app can be installed on the Ledger Nano S through Ledger Live.
