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Explore The Power Of Monedero Ledger live

4 Mins read

The Monedero Ledger live is a unique and new method of managing cryptocurrencies and digital assets in one place. It is exceptionally robust and sturdy to withstand any attempt of data breaching. Moreover, it is easy to understand and replaces numerous currency managing apps along with several chrome-based applications. 

When paired with Ledger’s new range of exciting features, monitoring cryptocurrencies have become uncomplicated than ever. Perhaps the best thing about Ledger Live is that it supports all the major existing cryptocurrencies and continues to include more of them. Thus, this is a win-win situation for everyone.

Feature of Ledger Live Wallet

1. Create new accounts

Did you know that you can create multiple wallets? To begin with, Ledger Live helps you to create multiple wallets with a specific purpose. For instance, one of them can be for your personal savings and the other one for groceries.  

With Ledger wallets, creating new crypto accounts is a piece of cake. All you have to do is click ‘+’ located on the dashboard and name it accordingly. One can use different Ledger Live accounts to manage different crypto efficiently especially when they plan to split the holdings. Moreover, the wrench icon on the top right-hand screen is useful for renaming crypto accounts. 

2. Import accounts

If any Ledger user had earlier used Chrome applications to set up their digital currency wallets, they can import them on other gadgets as well. How?

While setting up Ledger Live, a pop-up window will appear on the screen which you can use to ‘add accounts’. 

Select the preferred cryptocurrency from the drop-down menu and open the application on your Ledger device. This will automatically import the details of your digital assets holdings into Ledger Live.

In addition to this, users can also import an existing account simply by clicking the ‘+’ button on the left side of the menu. 

3. Manage your crypto accounts

Downloading and installing the required crypto application on the device is the first step towards storing your private keys in the Ledger wallet. To do this, go to the ‘Manager’ screen in Ledger Live to enable a new crypto asset and click on ‘install’.   

If the user later wishes to delete any application from their Ledger device they can use the trash icon to remove it. 

4. Real-time investment values

Investors need to know the real-time value of all their digital holdings. Ledger understands that this management can be hectic for some users and thus, provides an outstanding alternative. With  Monedero Ledger live, people can see the combined values of their holdings in the ‘Portfolio’ section. 

In addition to this, the hardware wallet also displays a chart with the real-time values of different cryptocurrencies. Users can switch this chart between the last week, month, and year along with changing the value in the currency of your preference.   

5. Fiat currency rates

With Ledger Live, users can choose to see live market values of their holdings in more than 23 fiat currencies and 18 rate providers. To many any amendment, click on the ‘settings’ icon and make the necessary corrections in ‘Countervalue’ or ‘Rate provider’. 

6. Buy bitcoins

With Ledger Live, becoming the rightful and only owner of digital currencies has never been easier. It supports all the major and most common crypto such as Bitcoin, Ethereum, USD Tether, Bitcoin Cash, Polka Dot, Dash, Steller, and much more than one can think of. Users can purchase either by using American Express, Visa, Mastercard, and Paypal. 

In addition to this, Ledger Live also helps you to hide your token to create a better overview of your total digital belongings and assets. All you have to do is press the button and tokens will be no longer visible on your portfolio. It is remember to understand that this will not steer you away from your assets but will hide them safely for use later. 

After successful payment, your favorite crypto will be sent to your Ledger hardware wallet in a matter of no time. 

Will I lose my crypto once I uninstall the application?

Monedero Ledger live uses applications that users can download on their devices through Ledger Live’s ‘Manger’ to manage all the digital holdings. These applications play a significant role in safeguarding your assets and there are apps for every cryptocurrency for maximum convenience. Moreover, they also create private keys according to the 24-hour recovery phrase and are also used for secured and verified transactions. In addition to this, private keys also hold addresses to the respective cryptocurrency. 

This 24-hour recovery phrase is based on a specific parameter also known as the derivation path. In simple words, as long as this recovery phrase is the same as before, users cannot lose their crypto and other digital holdings. Once you will install the application again, you will easily get access to them. 

What is third-party development?

As mentioned earlier, Ledger Live uses different applications to manage all the major cryptocurrencies of this world. As a result, the apps cannot communicate with each other so if there is something wrong with one of them, it certainly won’t affect the rest. In addition to this, Ledger also allows others to develop their own applications as well. Till now, Ledger has published more than 40 applications mostly created by developers and crypt community members. 

To make all of this come true, Ledger developed its own Operating System (OS), BOLOS, and became the only hardware wallet provider that guarantees this much safety to its users. 

It is no doubt that Ledger Live is still an unknown phenomenon for many, one cannot deny the fact that they are the best in the game. This French start-up released its first hardware wallet in the year 2014 and has sold more than 1 million devices to date. Quite impressive right? 

With high-end security, increased storage, and a comparatively large amount of supported coins, and tokens, you can finally get digital freedom from everything with  Monedero Ledger live

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