Cardano is a cryptocurrency created to be used as the first decentralized public blockchain in existence. It has been developed by Input Output Hong Kong, a company led by Charles Hoskinson and Jeremy Wood. This cryptocurrency has seen tremendous growth, but unique challenges come with this. One of Cardano’s biggest challenges is storage, specifically how to store cardano nft, which needs additional security measures for storage.
To avoid security threats to your investment, you need to store the Cardano coins safely where no one can find them or steal them from you before you get back with your hard-earned coin or coins. Cardano has been built on a new technology called a blockchain, similar to Bitcoin, but it can scale and deliver more. If you want to know more about Cardano, please refer to the link here.
Below is a list of Cardano Wallets that you can use for storage and that is easy to use. Not all wallets are made equal, nor have they been audited for safety, so be sure to research each one before installing it. Note that this list is in no particular order:
Ledger nano s is a hardware cryptocurrency wallet currently supports only 5 cryptocurrencies; bitcoin, Ethereum, litecoin, dash, and Stratis. It is also more expensive than other hardware wallets, but it has a screen that you can read the current ledger of your cryptocurrency, and it comes with a security card in case of loss.
After installing the Ledger Nano S wallet, you will have to wait for your older device (computer or phone) to synchronize with the new hardware device. Once that is done, download the client and open it. This can take up to 24 hours so wait patiently if you want your storage to be secure. Once it is done, open your Ledger Nano S wallet by downloading the application on its official website here. Note that you can use Ledger Nano S with multiple computers and phones.
Once you have opened your wallet, on the right side of your screen, there is a “Receive” tab. Click on it. A pop-up window will appear. In the first input box, paste your Cardano public address. In the second input box paste an optional description that identifies this Cardano address to you (this is not needed, but it’s good practice to know what each address is used for). You can then click on “Generate New Address.” Blockchain analysts will untraceable this new address, so use them like bank account numbers to store your hard-earned coins.