Ledger, a France-based hardware manufacturing company, released a new app this week called Ledger Live that essentially functions as a companion to the Ledger hardware wallet.
The aim of developing this app was to create secure management of cryptocurrency assets, which is accessible to everyone.
Ledger Live [LL] app is designed to be user-friendly wherein users can easily send and receive cryptocurrencies, check their balances at any time, and manage the apps on their Ledger device.
Until now, Ledger hardware wallet owners were reliant on either a third-party solution or Chrome-based management tools in order to manage their cryptocurrencies. The new LL app, however, allows users to set up new Ledger devices by means of simple onboarding, or importing existing accounts into the LL app, making the process time-efficient.
The feature-packed LL app also has a multi-account management functionality. This eliminates the need to use individual apps for different cryptocurrencies. It offers users one wallet that shows them the balances for all the cryptocurrencies they own.
However, they have reported that the first version of Ledger Live will not support features like ERC20, but it will be part of future updates. Ledger plans to add new features on a regular basis.
Kraken and Bitfinex support the app in getting historical pricing information. Users do not require their Ledger device to plug into.
Ledger, having already raised $75 million, aims to make the LL app a long-term cryptocurrency storage solution.
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