Ledger Live Now Supports Secure $SUI Transfers

We all consider hardware wallets to be a haven in the crypto sector. The leader in this market segment seems to be Ledger. It has been providing hardware wallet solutions since 2014. Now, Ledger Live supports $SUI.

This allows you to store your $SUI on any of your Ledger devices. So, what does this mean for Sui and its $SUI token?

$SUI and Ledger Live

The Sui community has been pressing Ledger for over a year for their support. This week, Ledger announced that it added the $SUI token to Ledger Live. The mobile app will follow soon. 

To clarify, Ledger Live is the app that lets you manage your Ledger hardware wallets. It’s the user interface on your computer or phone. You can see Ledger Live as an interface between a blockchain and your hardware wallet.  For example, you can:

• View balances.
• Track transactions.
• Access various other services. For instance, buying, selling, swapping, or staking crypto.

You connect your Ledger hardware wallet to Ledger Live. This keeps your private keys securely stored offline. Ledger Live also allows you to track your portfolio. Like your balance or your transaction history. It also shows the current market price in real time. As of this week, this includes $SUI. 

So, besides storing your $SUI or other crypto assets, you can also use other services. For example, you can swap on Ledger Live or stake selected assets, like $SOL or $ETH. However, you can also use your hardware wallet to access NFT marketplaces or DeFi apps. Here’s a guide by Ledger on how to install Sui and its $SUI token on Ledger Live.

How to Use Ledger with the Sui Network and $SUI

For Sui, this integration is a great step forward to increase security. You can now self-custody your $SUI tokens in the most secure way. To clarify, with a hardware wallet. The integration between Ledger Live and Sui will roll out in phases. Currently, you can already buy, send, and receive $SUI. Later this year, Ledger will add staking and swap options.

Here’s a Ledger podcast on X with Kostas Chalkias. He’s a co-founder of Mysten Labs, the team behind Sui. Make sure to click on the video.

Ledger already secures 20% of the crypto market. Now, you can add the Sui DeFi ecosystem to this as well. You can also import your Sui Wallet into your Ledger wallet. This makes all your $SUI-related transactions more secure. Here’s a guide on how to do this.

Ledger Live also allows for clear signing. In other words, you can see human-readable transactions. This is a better option compared to the blind signing feature. It increases transaction verifiability. 

The current $SUI price is $1.92 with a $6.2 billion market cap. Out of the 10 billion max supply of $SUI tokens, 3.2 billion already circulate.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

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