Ledger on Friday announced that its crypto hardware wallet now supports Internet Computer Protocol token (ICP). This enables in-wallet ICP staking. To date, close to US$9.75 million worth of tokens have been staked on the Internet Computer Network. Enabling in-wallet ICP staking via Ledger is expected to substantially increase the number of investors looking to earn staking rewards.
Ledger Wallet ICP Token
Internet Computer is a general-purpose blockchain that runs at web speed and acts as a complete Web3 stack. Ledger’s support for ICP arrives by way of the Network Nervous System (NNS) front-end decentralized app (dapp).
Ledger Head of Platform Fabrice Dautriat:
We’re always seeking to support the most innovative crypto assets, and ICP token integration will serve our user base well. This partnership is a great first step and we look forward to working with the Dfinity team to continue improving the support of their protocol on Ledger products.
Through the NNS front-end dapp, users can stake and manage ICP, and vote on upgrades to the Internet Computer Protocol. The introduction of in-wallet Ledger staking, voting, and token transfer via the NNS eliminates any external exploits by requiring that all transactions are authorized via the Ledger device only, allowing users to review and approve or deny any actions.
To stake, vote, and earn governance rewards, users can connect their Ledger and download the specific ICP application. Once set up, they can simply click on “Stake Neuron,” select their Ledger wallet account as the source of funds, choose how much they want to stake and hit “create.” There are also options available for managing their Neuron once created.
Users simply need to plug the Ledger Nano S/X into their computer (or connect via Bluetooth on the Nano X), and, with a minimum of setup, they have an easy way to manage their wallets while maintaining the highest degree of security.