Blogs
Here Is How Ledger Nano S Supporting Tron will send TRX to The Moon
The popularity of the Pirate genre of movies is accompanied by myths of hidden treasures stashed away in islands around the globe. There is even a bunch of guys who dive at various sites in the ocean believing that there is a sunken pirate ship or even a military ship from Spain with a lot of gold from El Dorado. The thing is, whenever someone, or a country, knows they are in possession of some valuable treasure, they hide it. The same can be applied to the owners of the Tron (TRX) cryptocurrency. They know they are in possession of a gem that will probably even earn them 100,000% in gains in 5 to 10 years if all goes according to plan with the Tron project. Therefore, they want to hide their TRX in a safe place.
So how do you keep your Tron (TRX) coins safe and away from hackers that like targeting crypto exchanges and online wallets?
You get a hardware wallet that will store your TRX offline in a digital vault. This is where the Ledger Nano S comes into play. The hardware wallet has been the choice of many since last December during the Crypto bull run. Even the manufacturer could not keep up with demand for the device. They even ran out of the Ledger Nano S devices back in January. Getting one now is also proving to be difficult because the little gadget that stores your huge treasure, is what everyone is looking for.
Now, the same device now supports our favorite coin of Tron (TRX). Yes. TRX is now a coin ever since the Genesis block was launched on the 25th of June and the token migration having been concluded in most of our favorite exchanges. This has even led many to predict that buying TRX now, would be like buying Apple and Amazon stock in the 90s.
The act of TRX holders stashing their Tron coins in cold storage in the Ledger Nano S will reduce the supply in crypto exchanges. When supply reduces and demand stays the same, the price of the digital asset has nowhere to go other than up. There is also the added benefit that a HODLer of TRX will think twice before selling their TRX that is in a hardware wallet. There is the procedure of logging into your device and then logging into your Tronscan Desktop client. This sort of long procedure will dissuade many from selling their TRX in the Ledger Nano S.
Another thing is that, those already with the hardware device and were not TRX holders because they had nowhere to store their digital assets, can now buy TRX and store on the Ledger Nano S. Crypto security is the number one reason many crypto-enthusiasts prefer the traditional big 5 assets of BTC, ETH, LTC, XRP, and ETC. These 5 assets are supported by numerous hardware wallets. Now TRX can join the list of ‘safe’ digital assets.
In conclusion, the new option of storing TRX in a Ledger Nano S will further encourage Tron fans to remove their TRX from exchanges and into the device further decreasing the circulating supply hence increasing the value of the digital asset. There is also the added fact of TRX joining the list of coins now supported by the hardware wallet making it possible for more crypto-enthusiasts to buy and store the coin safely in the device. This too will contribute to the dynamics of increasing the price of the digital asset all the way To The Moon!
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
-
Blogs6 years agoBitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
-
Blogs6 years agoAnother Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
-
Blogs6 years agoStandard Chartered Plans on Extending the Use of Ripple (XRP) Network
-
Blogs6 years agoElectroneum (ETN) New Mining App Set For Mass Adoption
-
Don't Miss6 years agoRipple’s five new partnerships are mouthwatering
-
Blogs6 years agoCryptocurrency is paving new avenues for content creators to explore
-
Blogs6 years agoEthereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
-
Blogs6 years agoLitecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange
