Hardware Wallet Support
Hardware wallets are supposed to be the most secure way to store your crypto assets. It is a small device that you can easily plug into the USB port of your computer. It gives you complete custody of your assets by keeping your private keys isolated from the internet. Users can trade their assets directly from their hardware devices without depositing them in any centralized exchange.
Note that the device only stores your private keys. Your assets are stored in the blockchain network. The user’s private keys are used to unlock the address where the assets are stored. Thus, when a user initiates a transaction, he/she is required to sign the transaction using her private keys. It ensures the user’s ownership of the assets. Thus, until someone gets access to your device and PIN, it is almost impossible to steal assets from a hardware device.
Thereby, understanding the risk associated with managing huge amounts stored in an organization’s treasury, and giving you control over your funds, the Coinshift platform has incorporated support for Hardware devices. That means users can connect their devices to the platform and access their Organization as well as the Safe account with complete custody of Treasury assets.
- Ledger Nano S
- Ledger Nano X
There are certain things that a user must satisfy before starting to work with the Coinshift platform using their hardware devices:
- Hardware Device (Ledger Nano X, Ledger Nano S, Trezor)
- Install and setup the Ledger Live application (desktop version)
- Install the network application from the App Catalogue. Create an account and transfer the network token
Note that there is no difference in the features and their associated functions when you access the Safe account using a hardware device and via any Web 3 wallet. The mere difference lies in the approval process.
Hardware device users will receive a sign-in message on their devices for approving a transaction. Only when the user approves it by giving their private keys, the transaction is submitted to the network for processing.
Enable Blind Signing
Users may receive a prompt on their device to enable Bling signing. Enabling blind signing is required to sign most of the transactions involving smart contracts. You can follow this link to know more about it.
Follow the below steps to enable blind signing:
- Connect and unlock your Ledger device
- Open the desired application (For example- Ethereum, or Polygon)
- Press the right button to navigate to Settings. Then press both buttons to validate.
- Your Ledger device displays Blind Signing.
- Press both buttons to enable transaction blind signing.
- The device displays Enabled. You're done.