IOTA Price Boost Through Ledger Wallet Compatibility

When it comes to enhancing and advancing the cryptocurrency industry, it’s important that different facets of the sector work together to further the common cause and promote cryptocurrency tokens and coins as a viable alternative to other financial methods. One such way is a partnership between digital wallets and varieties of cryptocoin. Cryptocurrency IOTA (MIOTA) have announced their compatibility with Ledger hardware wallets. This means that those who use and trade IOTA will be able to store their tokens in the Ledger Nano S device. Not only does this boost the credibility of both aspects of cryptocurrency, but it also removes barriers to entry to begin investing in and using cryptocurrency on the whole. But will the partnership boost the price of IOTA?

Wallet Partnership Offers Greater Security

The most important aspect for users of cryptocurrency and the companies that offer services using cryptocurrency is security. Being able to store IOTA in a Ledger digital wallet adds an extra layer of security, which makes the system run more smoothly. Users’ seeds are isolated as the key to their account from their smartphone or computer, giving an extra layer of cybersecurity. Ledger CEO Eric Larchevêque reinforces that security for users is a “major focus.” He also cites quality as a strong cornerstone of the service they provide. As the wallet offers such strong security and IOTA users will be protected through their storage within it, this will contribute to the value of the cryptocurrency and may boost the IOTA price.

What Does IOTA Do Differently?

IOTA is a strong altcoin in the stable of cryptocurrency. It aims to be used as part of the push towards an Internet of Things (IoT), which aims to see smart devices communicating with one another through data collection in order to make systems run better. Harnessing this technology and its multi-faceted uses would increase the IOTA price. IOTA want a push on scalability and to make transactions easier, especially ensuring that transactions are free, which could give cryptocurrency the advantage over other methods of payment which require fees. IOTA is certainly making waves in the industry, especially with its recent partnership with Japanese IT giant Fujitsu. This trust signal from the well-known brand will also likely boost the price of IOTA and show its applications in the world of cryptocurrency goliaths such as Ripple (XRP), Bitcoin (BTC) and Ethereum (ETH). The IOTA price chart shows that the move will likely improve the price of IOTA and a higher IOTA price means greater market share within the cryptocurrency sector.

Storing funds on an external offline wallet instead of online or on an exchange is inherently safer and provides a greater range of options for those attempting to begin investing in cryptocurrency. Due to the strides already being made by IOTA, seeing it partner with one of the strongest names in digital wallets shows that their commitment to being a force of cryptocurrency is strong, too.