For owners of Bitcoin, the proper storage of Bitcoins is almost more important than the price of Bitcoin. With two new Apps the Wallet manufacturer Ledger takes on two important building blocks in the Bitcoin Business: Hodln and Recovery Phrases.
Those who can not trade, you must hodln – so it was about the legendary Bitcoin-Talk Thread “I am hodling”. The apparently drunk users Game nine-tails said in a slightly cryptic to the outbreak of the feelings, that is why he keeps Bitcoin rather on his Wallet instead of trying to do so day trading – he is simply a bad Trader. From the small spelling mistake in the slogan of a whole movement: Hodln, until the Bitcoin price rises (and, in addition, finally). Sido, Kool Savas, wife, doctor, and other rappers made a Song out of it. And now the wallet will be the operator of the Ledger has now developed an App for that.
HODL Bitcoin in a safe place
From the official announcement of Ledger:
“We have developed a Ledger Hardware wallet, in order to provide the people a possibility of crypto-currencies in a safe place. Far away from Online Exchanges or a Computer to hack or could attack.“
If a transaction is active and the address, as well as the number of crypto-currencies such as Bitcoin, Ethereum and Co, you can be sure that your crypto-Assets are kept safely, so Ledger.
The new Hodl App designed to make it easier to check the Wallet addresses when it receives crypto-currencies. Thus, the Ledger Nano, act S as a “virtual Keyboard”. For that you have to cope with four steps:
- The address field on the Computer select
- The HODL App open
- With the Ledger Nano-S, the Wallet that you use to select
- The address for automated inserting
The HODL App promises to help ensure that you enter the correct address. As most will know, these are quite long, as can oak the largest Bitcoin professionals, errors in the input incl. The App is easy on the Ledger Live install application.
Comment by BTC-ECHO-editor Christopher clover:
Hodl the forest fairy. Nice that Ledger helps the Hodlern now in the process of committing when the Bitcoin no gross errors.
Recovery Check for more security when HODLN of Bitcoin, Ether, and co.
As the second new App Ledger also recovery check – so you can leave now, his Recovery Phrase check. What everyone should know with the storage of crypto-currencies on Wallets: With the Recovery Phrase and the stored Token to fall, if the Ledger is lost or stolen – without it, it’s not coming after his Funds ran which can lead to high losses.
With the Recovery Check App it should be much easier now. You can enter again in the App and the App will automatically check if you have listed the right words – then you can copy the best again, and in a safe place.
To the company on your Blog:
“We are happy that these new Features of our Community and we will continue to work to improve our products for the future.”
Just a reminder: The storage of crypto-currencies on Exchanges is not a good Option if one is concerned about safety. The Problem is now well known – although crypto-currencies are secured against attacks – the exchanges are not always. Again and again we have to report about Phishing attacks on crypto exchanges, in which users lose their carefully gehodelten Bitcoins. Who’s going to be on the safe sake, and who does not trust his memory for Brain Wallets enough, ledgers, such as the Ledger Nano S, Archos or Trezor is always good.
The price of Bitcoin holds, meanwhile, remained stable at over $ 8,000. The leading crypto-currency is currently at a 7-day-Plus of 6.36 per cent and a monthly rise of nearly 28 percent. Since it’s not wrong to hodln Bitcoin. The same is true for Ether, Ripple, and most of the Altcoins are on the rise.