Ledger launches self-custody staking for Algorand

Owners of a ledger hardware wallet will now be able to stake Algorand (ALGO) via the Ledger Live application

Hardware wallet provider Ledger has announced support for Algorand (ALGO) and Algorand Standard Assets (ASA) in its software application, Ledger Live.

The platform’s users will be able to securely hold, transact, manage, and stake ALGO directly with their smartphones or desktop using Ledger Live.

After announcing the staking feature last year, Ledger continues to add new staking options: Algorand (ALGO) becomes the fourth staking option available in Ledger Live in addition to Tezos (XTZ), TRON (TRX), and COSMOS (ATOM).

The benefit of staking ALGO via Ledger instead of an exchange or wallet is that users retain full control of their private keys.

“Algorand’s integration is an important step to widen the array of services offered on Ledger Live in our constant pursuit to provide users with the best crypto experience possible,” said Pascal Gauthier, CEO of Ledger. “The integration with Ledger Live will provide users with additional opportunities to earn passive income, ensuring the highest level of control and flexibility.”

Fangfang Chen, COO of Algorand, added: “We are excited to further collaborate with Ledger as part of Algorand’s commitment to ensure the highest standard of crypto security.

“The Algorand ecosystem has experienced tremendous growth since the mainnet launch last year, and we are proud to work with Ledger, the industry-leading security company to provide ALGO holders more opportunities to participate in the network while ensuring security and transparency of the whole Algorand economy.”

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