Ledger Live now lets users stake Tezos

Ledger has announced that the latest version of its Ledger Live wallet application now supports the Tezos cryptocurrency and will allow users to stake XTZ to earn passive income.

The hardware wallet manufacturing giant unveiled its easy-to-use solution last year. Ledger Live enables its users to manage their crypto assets in one place.

Through the application, they can check their balance and send and receive 23 different crypto coins and more than 1,250 ERC-20 tokens in real time without “compromising control of private keys”.

Ledger has now announced that the latest version of its wallet companion application – for both desktop and mobile – includes support for Tezos (XTZ).

Staking Tezos (or baking when referring to XTZ) is a method to earn passive income while also increasing the security of the network.

The ability to bake Tezos is currently available on multiple well-known cryptocurrency exchanges, though Ledger claims that “these exchanges do not provide the same level of security and optionality as Ledger hardware wallets”.

The company continues: “With today’s announcement, users can now manage and earn XTZ rewards through Ledger Live, while still ensuring top security through their Ledger hardware wallets.

“Ledger offers users more control over staking. Unlike on exchanges where users are giving up their rights to choose who to delegate to, by using Ledger Live, you are able to select from a wide list of validators based on your own preferences.”

To celebrate the move, Ledger will hold a contest with prizes including 1,000 XTZ, five standard Ledger Nano X wallets, and 100 custom Tezos-engraved Ledger Nano S wallets.

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