There are now almost 5.7 million tokens on the Cardano (ADA) network, but it is not always easy to store these tokens. Ledger, the well-known maker of hardware wallets for cryptocurrencies, is now changing that. The company will support as many as 100 tokens on the Cardano network.
100 Cardano tokens suitable for Ledger
Ledger has announced that it is 100 native Cardano tokens now supports. You can now receive and send these 100 tokens through the same Ledger app that you use for ADA. Transactions work exactly the same, with the same low transaction costs, high speeds and good security that you have come to expect from regular Cardano transactions, Ledger reports.
That means Cardano tokens like Aada (AADA), a DAO token for DeFi, the ADAX-DEX, the World Mobile Token, and DANA are all now supported by Ledger. The other 95 Cardano tokens are less well known.
Nothing is said about whether the tokens are suitable for, for example, loans or swapping. The accompanying Ledger Live software offers these possibilities for some coins, but for that the company has to work with other companies. More announcements about this may follow in the future.
More and more possible with Ledger Nanos
Ledger also hints that it plans to add support for more tokens, decentralized applications (dApps) and more to its hardware wallets in the future.
The company has been working hard on more functionality lately. Until recently, it was not possible at all to store your ADA tokens on a Ledger Nano. That only became possible in June.
Ledger is now also working with FTX, allowing you to buy and sell bitcoin (BTC) directly via your hardware wallet. In 2021 it also introduced its own credit card, which in certain countries makes it very easy to convert crypto directly into fiat currency, after which you can spend it.
