In the crypto currencies world, Ledger is one of the most recognized names. But, its popularity is not due to its own crypto currency, but because it provides security to store many others.
Ledger is a company that develops hardware crypto wallets. These types of wallets allow users to store crypto currencies and give them full responsibility for their security.
Hardware wallets are useful for those users who prefer that external services do not have direct access to their crypto assets. This helps them protect themselves from situations such as exchange hacks.
HBAR (Hedera) is one of the many crypto assets supported by Ledger wallets. However, Ledger current integration with HBAR is limited, complicating the deposit process and causing potential loss of funds.
HBAR (Hedera) deposit process on Ledger wallets is confusing
Many Ledger wallet users find the integration with HBAR (Hedera) problematic. Apparently, the correct deposit process involves an intricate process.
The complex deposit process from HBAR (Hedera) to Ledger wallets causes confusion that can lead to a loss of funds.
So, Ledger users are asking the company to speed up the full integration between the wallet and HBAR. Currently, the process even involves using third-party tools, with the risks that this entails.
The complex process could cause loss of funds
Apparently, the main issue that can lead to loss of HBAR (Hedera) funds is that the Ledger device don’t provide an option for a destination tag or memo.
The destination tag or memo is a fundamental item so that the deposit of HBAR currency reaches the correct destination. Not being able to add this data during the process is a serious security risk.
Learn how to avoid HBAR (Hedera) loss when sending to your Ledget wallet
The Ledger team is aware of the issue and working on fully integrating their wallets with HBAR. But, there is not an ETA for this to happen yet.
Meanwhile, Ledger users must be very clear about the correct process to follow. In this way, they will be able to avoid potential losses of funds.
Basically, before receiving HBAR in your Ledger wallet, you need to link it with the ‘Hashpack app’. For this, make sure you download the app from the official source (by clicking here and then on ‘Launch Web App’).
Before you start the process, you need to make sure of the following:
Then, the steps to complete the HBAR (Hedera) deposit process in your Ledger wallet are as follows:
We will update this story once new details related to the matter emerge.
Featured Image: Ledger
PiunikaWeb started as purely an investigative tech journalism website with main focus on ‘breaking’ or ‘exclusive’ news. In no time, our stories got picked up by the likes of Forbes, Foxnews, Gizmodo, TechCrunch, Engadget, The Verge, Macrumors, and many others. Want to know more about us? Head here.
