Ledger just added Polkadot (DOT) to its list of supported coins

Written by: Ali Raza
March 6, 2021
  • According to a recent announcement by Ledger, the wallet just added support for Polkadot.
  • DOT really impressed investors with its recent price surge and it will use its tech to connect Ledger wallets.
  • DOT will also be available for staking, which makes it the fifth coin to gain this privilege on Ledger Live.

Ledger, one of the leading cryptocurrency hardware wallets, just added support for another coin — Polkadot (DOT). The listing of the new coin does not only come with wallet support, but also with support for staking. In other words, users will now be able to stake DOT, as well as four other tokens on Ledger.

Polkadot now supported by Ledger wallets

While coins like Bitcoin (BTC) and Ethereum (ETH) have seen massive growth in the last few months, Polkadot’s growth of price, popularity, and volume can hardly be ignored. The project has become one of the most significant blockchain projects in the world, seeing a 360% increase in price in 2021 alone. This also pushed its market cap to $30.37 billion at the time of writing, and to $34.17 billion when its price was at its peak.

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As for Ledger, the wallet is known as one of the safest and most popular hardware wallets in the world, with several different products available for cryptocurrency users.

According to the recent statement, Polkadot is now supported by the wallet, and it will assist with its software application. The project will help Ledger with connecting the app with Ledger Live, thus establishing a connection between the wallet and the app. This will allow users to access their wallet and maintain their holdings even when they don’t have their wallet plugged into a computer, which will make coin management much easier and more practical.

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DOT staking is now also available

With DOT staking supported, Ledger now allows a total of five coins to be deployed for this purpose. DOT is also likely to be a favorite, considering its price’s excellent performance over the last few months. On January 1st of this year, DOT price was barely above $9. However, by February 20th, the coin hit a new all-time high after it gradually climbed to $42.06.

The DeFi sector has already made staking a rather popular choice for investors with extra money, and having DOT is a wallet as secure as Ledger and able to be used for staking is certainly going to attract new users.