HOW TO STORE BNB ON YOUR LEDGER HARDWARE WALLET

almost 3 years ago

"If you don't hold it you don't own it".....

There are several ways to hold BNB tokens, and I am always happy to see the option of a cold storage wallet😀
BNB tokens can be used on two different blockchains...
Binance Chain.... as a BEP2 token or
Binance Smart Chain....as a BEP20 token

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The first thing is to install the App. For the Binance Chain on your Ledger Nano device.
On Ledger Live you can search for this App, the latest version at the moment is 1.1.7

Notice that Ledger will store the BNB token as a Binance Chain BEP2 token.

You now have Binance Chain installed on your Ledger Nano.
Then you need to download from the Chrome App store the Binance Chain Wallet extention.
I use the Brave browser for my extention......
Ledger Live does not support BNB at the moment.

Then you just choose "connect to Ledger"
The first time you will be given a list of BNB addresses, you simply choose one.
Then when you connect in the future you just select the same address, or it you want you an add another....

From the Binance Chain Wallet extention, you can switch between .....
The Binance Chain Network
The Binance Smart Chain Network
and the Ethereum Network

You can also do Cross Chain Swaps between the Binance Chain and the Binance Smart Chain😀

You can also stake your BNB from your Ledger on the Binance Chain......How nice is that!🤗

HODL on.......
Silvertop...Mike😀

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10 comments

@joetunex 76

almost 3 years ago

This is awesome Mike

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@silvertop 74

almost 3 years ago

Thanks Joe I hope you are doing well!!

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@joetunex 76

almost 3 years ago

I am well thanks Mike, hanging in there 😃

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@hivebuzz 74

almost 3 years ago

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@silversaver888 79

almost 3 years ago

Your second post of the day! BUSY!!!

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@silvertop 74

almost 3 years ago

This was a bit of a learning curve @silversaver888 but I think the Binance Smart Chain is going to be big!😀

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@silvertop 74

almost 3 years ago

Lol life can be busy @silversaver888 ...I hope you are doing well!!!😀

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@kerrislravenhill 73

almost 3 years ago

And I just happened to get a fresh $130 worth of BNB token because it may come in handy in the future.

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@silvertop 74

almost 3 years ago

Sounds very good @kerrislravenhill I just picked some up as well this morning...On sale Lol!🤣

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@adolf39 13

over 1 year ago

The algorithms used for generation of a hardware token can be simple or complex. The most common types of algorithms are the S/Key OTP system and the Time-based One-Time Password algorithm. The S/Key OTP system uses a hashing function to generate a six-digit code. The Time-based One-Time Password algorithm is a variation of the HMAC-based One-Time Password algorithm. It is included in RFC 4226.

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