Ledger, one of the top cryptocurrency hardware wallets, just added support for another cryptocurrency — Polkadot (DOT). The listing of DOT does not only come with wallet support, but also with support for staking. It means users will be able to stake DOT, as well as four other tokens on Ledger.
Polkadot now supported by Ledger wallets
While coins such as Bitcoin (BTC) and Ethereum (ETH) have seen significant growth in the last few months, Polkadot’s growth of price, popularity, and volume is really notable. The project has become one of the greatest blockchain projects in the world, seeing a 360% rise in price in 2021 alone. This also pushed its market capitalization to $30.37 billion at the time of writing, and to $34.17 billion when its price was at its peak.
As for Ledger, the wallet is known as one of the safest and most popular hardware wallets globally, with several various products available for cryptocurrency users.
According to the statement, Polkadot is now supported by the wallet, and it will assist with its software application. The project will help Ledger with connecting the app with Ledger Live, thus establishing a connection between the wallet and the app. This will enable users to access their wallet and maintain their holdings even when they don’t have their wallet plugged into a computer, which will make coin management much easier and more practical.
DOT staking is now also available
With DOT staking supported, Ledger now enables a total of five coins to be deployed for this purpose. DOT is also likely to be a favorite, because of its price’s great performance over the last few months. On January 1st of this year, DOT price was barely above $9. However, by February 20th, the coin hit a new ATH after it gradually climbed to $42.06.
The DeFi sector has already made staking a rather popular choice for investors with extra money, and having DOT is a wallet as secure as Ledger and able to be used for staking is certainly going to be attractive for new users.