FIRMACHAIN Supports Ledger ColdWallet
Hello. This is FIRMACHAIN.
We will start supporting a hardware ledger wallet, one of the most prominent forms of a cold wallet.
With this support, you can now store your FCT(FCT2) in a more secure offline wallet.
To enhance your understanding, we will introduce you to some of the characteristics of a cold wallet and a ledger and will also inform you on how to install FIRMACHAIN on the ledger wallet.
What is a ColdWallet?
Wallets, mainly used to contain cryptocurrency assets such as tokens or coins are divided into HotWallets, which are used online and ColdWallets, which can be used offline.
HotWallets are connected to the internet at all times and can manage cryptocurrency assets from anywhere around the world. If you think of cryptocurrency exchanges or Metamask, you will be able to better understand the concept of a HotWallet.
Although readily accessible and easy to use, HotWallets are also vulnerable to cyber hacks.
On the other hand, ColdWallets allow you to store crypto assets offline thereby rendering your assets to be managed in a more secure fashion. The downside of enhanced security is that ColdWallets are not readily accessible nor easy to use as HotWallets when trading crypto assets.
The said advantage of a ColdWallet prompts Global Cryptocurrency Exchanges to store a certain portion of their crypto assets in ColdWallets to protect the assets from potential cyber security threats.
What is a LEDGER?
Out of the many ColdWallets in the market, one of the most renowned brands is the LEDGER.
The LEDGER has been certified by the National Cybersecurity Agency of France, ANSSI and is currently handling over 1,800 crypto assets including Bitcoin and Ethereum.
Aside from the aforementioned, the following are some of the prominent traits of a LEDGER.
▶ Safely store your private key in a certified security chip
▶ Nobody except the owner of the LEDGER can access their private key
▶ Trading and staking of crypto assets are supported through the Ledger Live application
▶ Protected from malicious software, phishing sites or any kind of cyber security threats
▶ Have over 4 million global users
▶ Compatible with over 50 wallets
How to install FIRMACHAIN on the LEDGER
Quite obviously, in order to use FIRMACHAIN on the Ledger, you must purchase a Ledger.
Instead of purchasing a used Ledger or purchasing through a middleman, we recommend you purchase a Ledger from the official website of the manufacturer.
Once you’ve purchased the Ledger, please install the ledger live application according to your operating system (Windows, Mac or Linux). Now, you have to install the FIRMACHAIN application on the Ledger that corresponds to the operating system. Please proceed according to the following instructions.
▶ Install and Run Ledger Live
▶ Activate developer mode on Ledger Live
▶ Click on ‘My Ledger’ from the left navigation menu of the Ledger Live application
▶ Connect Ledger
▶ Search ‘FirmaChain’ from the search menu on Ledger Live and install
▶Check whether ‘FirmaChain’ is properly installed on the Ledger
Once you’ve completed the above steps, you can now use FIRMACHAIN on the Ledger. Just be aware of the following when using FIRMACHAIN on the Ledger.
▶ After installing FIRMACHAIN on the Ledger, if the FIRMACHAIN or the Ledger Firmware upgrade happens, you must run the FIRMACHAIN application patch from the Ledger Live application
▶ Please visit the following link for a more detailed Ledger user guide
▶ The released version is for developers (We are working with the Ledger company on fixing the date for a public release)
Aside from the aforementioned, if you face any problems or issues while using the Ledger, please contact us at contact@firmachain.org.
Thank you.
For more information about FIRMACHAIN, or partnership inquiries, please contact us at contact@firmachain.org. Those who wish to join the FIRMACHAIN team, please contact us at info@firmachain.org.
About FIRMACHAIN
FIRMACHAIN originally aimed to transfer all paper based social and legal activities onto the blockchain to introduce transparency and prevent document tampering and forgery. Maintaining the fundamental value of trust, the FIRMACHAIN team is now turning its gaze to becoming a comprehensive blockchain platform. Our goal is to provide business entities and FIRMACHAIN holders with useful blockchain based services that are useful yet fun to engage with thereby satisfying the team’s goal to become a ‘Utilitainment’ (Utility + Entertainment) platform.
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