The persistence ecosystem is expanding far and wide. After it’s launch of the pSTAKE dashboard were Proof-of-Stake(PoS) users are given access to stake $ATOM to earn $stkATOM. There’s been a lot of articles on the pSTAKE dashboard, more on a step-by-step guide on how to navigate through the dashboard. Using the pSTAKE dashboard, PoS users who stake their $ATOM will be able to wrap, unwrap, stake, unstable and also redeem/claim rewards gotten through staking.
If you are having problems using pSTAKE, you could read through this article, it gives a well detailed step-by-step guide on using pSTAKE: pSTAKE — Staking Process Unveiled https://preciboku.medium.com/pstake-staking-process-unveiled-e9b1975c888
The Persistence ecosystem keeps on bringing new updates to its users and the big news is here, Ledger hardware wallets now support Persistence assets!
The goal of owning a wallet is being in charge and in full control of your data and keys but how safe is your data? Where are yoir assets stored? Are they safe where they are stored? Are you in full control of your assets? Is your asset well secured and free from hacks? In this article, you will not only learn about ledger but will also learn how to store $XPRT on your Ledger
A crypto wallet allows users to store, send and receive assets. It can either occur as a hot wallet or a cold wallet. Hardware wallets and paper wallets are both cold wallets, while desktop, mobile and hybrid wallets are hot wallets.
The ledger hardware wallet falls under the cold wallet as it allows users to only connect your wallet to the internet when you want to make a transaction. How can you connect wallets to make a transaction when you don’t know what a ledger hardware wallet is?
What’s a Ledger Hardware Wallet?
Ledger’s hardware wallets are multicurrency wallets that are used to store private keys for cryptocurrencies offline. It plays a vital role in managing your crypto assets — for each cryptocurrency assets.
To learn more about ledger, navigate to the Ledger Academy to get more details of how ledger works and how accounts can be created as well: https://www.ledger.com/academy/hardwarewallet/what-are-ledger-applications-and-why-do-i-need-them
The major goal of having an asset is not just about its price action but the security put in place to keep the asset secured. Using a hardware wallet, you will be able to store your keys and also crypto assets would be well secured. The Ledger device acts as an enclave of the seed phrase (mnemonic) and private keys and thereby the process of signing transaction takes place within it.
Now, let’s put the ledger hardware wallet to use — storing $XPRT on the ledger wallet.
To store $XPRT on the ledger hardware wallet, the ledger device is needed or required alongside usage of the persistenceCore. We will take the steps lite by little but in sections, the first section will be installing the persistence ledger and the second section will involving a step by step process of connecting the persistence wallet and the ledger NANO
Firstly, let’s start from installing the Persistence ledger, in order to install the persistence application on your ledger device, the following steps are to be followed accordingly:
- Install Ledger Live on your machine.
- After the Ledger Live has been installed, You will have to update your Ledger Nano S with the latest firmware. On the Ledger Live application, navigate to the Manager menu. The image below shows how the manager menu looks like:
3. Now that you have successfully navigated to the ‘Manager Menu’, go ahead to Connect your Ledger Nano device, you will be directed to Allow Ledger Manager on your device check box, click it.
4. After allowing the Ledger Manager on the device, search for Persistence on the Ledger Live Application.
5. Now that Persistence is being displayed on the Ledger Application, install the Persistence application by clicking install.
Note: For the Persistence application to display after being searched on the ledger live application, you need to activate the Developer Mode option located in the Experimental features tab of the Ledger Live application. To activate the developer mode, check at the bottom left of the dashboard, click experimental and toggle the developer mode. The image below will give you a pictorial explanation of how to activate the developer mode.
Congratulations if you have successful installer Persistence on the Ledger Live Application, you are already one step closer to getting persistence fully on your ledger hardware wallet.
Now that you have successfully installed Persistence, it’s time to connect your Persistence wallet to your Ledger Nano Hardware wallet. Before any connection is made, you have to first sign into your Persistence Wallet and do all transactions using the Ledger Nano device without having the need to use your private key or mnemonic.
So after the Persistence app is installed on the Ledger Nano, the following steps are needed to be followed:
- Now that the persistence app is installed and it’s connected to the ledger device, you will have to unlock it with your PIN. After unlocking, open up the persistence wallet app on the ledger device, all these are done on your web browser.
- Now, the next step is to ‘Sign In’ on the web wallet. Several options will be displayed like ledger, Kelpr Wallet and Address as show in the image below
3. Select the ‘Use Ledger’ option
Now you can use Persistence Wallet with your Ledger Nano in an easy-peasy way.
Note: When you transact on Persistence Wallet (Send or Stake), you need to confirm the transaction on your Ledger device. An indication is displayed on your Persistence Wallet app to approve or reject the transaction.
The good thing about the Ledger wallet is that, for every action done, there must be a verification process done to make sure security is insured. Once a user logs in, he is needed to verify the logged address which is same as the address on the ledger device. Sounds interesting right.
Now, you’ve gotten a detailed step on installing and connecting your persistence wallet to your ledger Nano wallet. If you followed the steps accordingly, you would have successfully connected your wallet
To get access to the GitHub page for the Persistence Core with Ledger Nano, read more here: https://github.com/persistenceOne/persistenceCore/blob/master/docs/resources/Ledger.md#persistencecore-cli-+-ledger-nano
Persistence is an interoperable protocol built to facilitate the creation of next-gen financial products. The Persistence tech stack provides the infrastructure to effectively bridge the realms of DeFi and traditional finance in various areas whilst also enabling the creation of innovative crypto-facing solutions to expand the DeFi and NFT sectors.
For More Information about Persistence:
Telegram Group: https://t.me/PersistenceOne