Ledger, the popular French cryptocurrency hardware wallet manufacturer, has recently added support for 100 native tokens of the Cardano network. Users will now be able to buy, send and receive the added tokens on Ledger Live, the app used to manage crypto assets on Ledger devices.
Ledger announced that it would begin supporting ADA in April of this year, but it was not until summer that support for another 100 native Cardano tokens was added. Ledger has announced that the tokens currently supported include DogeADA, Aada DAO Token, DANA, Cardano Gold, ADAX, MEOW, MILK, MELD, and the native Minswap token.
Furthermore, Ledger spokespersons explained that these first 100 tokens have been chosen to support these projects taking into account some relevant points such as the number of blockchain transactions carried out in specific periods, although they also clarified that there are many more Cardano tokens. The Ledger team also wanted to make it clear that the selection of these tokens has been made without any bias, based solely on blockchain data.
In addition, in this announcement they also explained that native tokens on the Cardano network can be handled in the same way as ADA, Cardano's currency, and take advantage of all the benefits related to its security, speed and low transaction costs. Ledger pointed out that with the Cardano network a layer of complexity is removed, thus reducing manual errors and also lowering transaction fees compared to networks where the tokens chosen by users are not native.
How to manage Cardano assets via Ledger
In order to manage their Cardano and ADA assets via a Ledger device, users need to create an ADA account, but they do not need an additional wallet. Similarly, it is also possible to purchase the selected cryptocurrency directly via the apps. The Ledger project has received the approval of the Cardano community, both in its initial announcement and after the integration was completed.
All of this comes as Vasil, Cardano’s hard fork, is just around the corner. This upgrade is expected to bring a massive performance boost to the Cardano network, and it has recently been delayed for a few more weeks to optimize improvements. In early July, some cryptocurrency industry experts predicted that Cardano’s price will skyrocket to nearly $2025 by 2030 and over $0,63 by XNUMX, though experts believe it will trade at around $XNUMX by the end of this year.
