Particl is proud to announce their currency is now supported by the Ledger Nano S and Live — good news for users looking for increased security and accessibility when it comes to their cryptocurrencies.
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Not only can users now securely send and receive Particl, even on a compromised computer, cold staking is also fully supported.
With no private key exchange between the hardware wallet itself and the host computer, users can safely interact with their wallets even in insecure environments.
Particl is the only project build on the Bitcoin codebase that uses RingCT and CT, which makes transactions (sent and received) untraceable.
Particl also became the first PoS coin to support cold staking when it was released to their mainnet last November.
No technical loopholes need to be jumped, just simply download the application to manage a wallet, and you’re good to go. From there, users can delete the hardware’s staking powers to a node, and sit back to earn passive income from a cold storage wallet.
What is Staking and Cold Staking?
Staking is an energy efficient alternative to Proof of Work mining. Instead of using dedicated mining rigs to produce coins, users with a balance and an active network connection are able to compete for blocks and earn additional coins. Those coins can also begin to stake, making POS coins a potentially profitable investment.
The disadvantage is that the wallet must remain open and connected to the network in order for blocks to be minted, making coins targets for hackers. Particl solves this with their cold staking, where users can contribute to network security even while the coins are offline.
Ledger Makes Cold Staking With Particl Easy
Users are also able to actively participate in voting governance as well as provide consensus for stake rewards, making Partcl one of the easiest POS coins to handle, but also the first Ledger supported crypto to cold stake.
While Ledger Live is a great way to check your overall portfolio and track movements through the days and weeks, Particl’s offerings are more than just cold staking.
While Particl Core supports Ledger wallets, Particl also offers another wallet called “Partcl Desktop,” which is a GUI based wallet, and is currently their flagship product that encompasses all features the cryptocurrency has to offer.
In combination with the marketplace platform, the privacy-based cryptocurrency offers users the ability maintain their voting and staking rights from cold storage.
For a tutorial on how to get your own Ledger hardware wallet to safely store Particl, check out this wiki.
For more information on the project, check out Particl’s website.