The market for Binance Smart Chain has finally expanded. Recently, Ledger has announced that it has extended its hands to the Binance Smart Chain Ecosystem. Hence, the management and transition of BSC’s native assets, BNB and BEP20, is now possible via Ledger Live. Moreover, the Binance Smart Chain native currency and BEP 20 will be available on the Ledger Hardware Wallet.
This brings us to a question- how to manage BEP20 and BNB in Ledger Live?
This can be done in three simple steps:
Step 1 – Installing the BSC app on the respective Ledger hardware device.
Step 2 – Creating a Binance Smart Chain (BSC) account after installation is complete.
Step 3 – Deposit tokens in the application after verification and confirmation.
Why does the Ledger access Binance Smart Chain?
Ledger gives traders complete control of their digital assets, keeping their private key secure by providing a hack-proof experience. The private key is locked in the Nano hardware wallet. This means that they can manage all their digital assets without tampering with their ownership rights and still control the private keys. With Ledger Live, users have to enter a galaxy of Web3 services as it is an ergonomic app under the same umbrella.
What is Binance Smart Chain?
The Binance Smart Chain is simply a blockchain built by Binance (which is presently the largest cryptocurrency exchange platform in the world).
In 2019, the Binance Chain was introduced by BSC as a blockchain that could provide non-custodial, fast trading. The protocol lacked in terms of scalability and flexibility. Binance Smart Chain supports two protocols which will be available by a hardware wallet.
What next to expect at Ledger: services to give traders the most secure and protected gateway for the Web3 universe. Therefore, the Binance Smart Chain (BSC)and Ledger Live collaboration is a milestone that will enhance traders’ Web3 experience.