Home / Crypto News / Bitcoin Wallet Trezor will soon support Cardano and many other cryptocurrencies

Bitcoin Wallet Trezor will soon support Cardano and many other cryptocurrencies

image

The Cardano Project has made some progress lately, although there are still some things open. I had already reported in the blog. A problem of the cryptocurrency has always been their safekeeping. Although Cardano offers his own wallet called “Daedalus”, but it is a desktop wallet. It's not as secure as a hardware wallet for cold storage.

The two major providers of Bitcoin hardware wallets, SatoshiLabs (Trezor) and Ledger, have not yet offered Cardano (ADA) support on their wallets. The users had to be content with software solutions or even leave their coins on a crypto exchange.

Now this situation seems to be improving. IOHK has recently announced in a tweet that the hardware wallet provider SatoshiLabs will soon also support the ADA token. From the end of October 2018, users should be able to use Trezor wallets for Cardano.

Input Output (IOHK) tweeted:

“Cardano ADA support for the Trezor hardware wallet will arrive late October.”

In addition, Trezor wants to support a number of other tokens in the future. A list of these tokens was attached to the tweet. Some of the big tokens that users can now use to protect Trezor are Monero (XMR), Stellar (XLM), Ripple XRP, Zencash (ZEN) and Zcash (ZEC).

Recording will be soon

A list of cryptocurrencies can be found on the Trezor website under the section “Supported Coins & Tokens”. The cryptocurrencies enumerated by IOHK are labeled “soon” for support. However, there is no opinion of the company on the date of commencement.

A closer look at the list also shows that things are a bit more complicated than they first seem. Basically, it should first be noted that SatoshiLabs offers two models of its hardware wallet. First there is the model “Trezor One”. This model is a robust basic version and has recently received an attractive price reduction, so it currently costs 69 euros. The company also offers its flagship model “Trezor Model T” for 149 euros. This differs from the basic model, for example, with a color touch screen and does not require any physical buttons.

Looking at the list with this knowledge shows that Trezor does not plan to support it for both Wallet models. In the case of Cardano, for example, “Soon” is entered only under the column for the model T. For the model One, however, there is only one indent.

The disconnection may have technical reasons, because the T model has a higher-clocked processor and a different operating system than the Model One, for example. But it may also be that Trezor simply wants to differentiate his flagship model from the base model by artificially “throttling” the basic model, thus making it less functional. The same is known from the field of smartphones.

Regardless, the support coming in is likely to benefit Cardano's HODLers and bring SatoshiLab's new sales as well. So everybody gets something added.

Sources: Twitter, Trezor.io, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-wallet-trezor-unterstuetzt-bald-cardano-und-viele-andere-kryptowaehrungen/

Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.

We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It's also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.

About Coin News Desk Team