As of now, Tether, or USDT, is one of the stablecoins we have right now in the cryptocurrency space with the highest adoption. One reason is that Tether (USDT) is the first cryptocurrency stablecoin ever.
Now, if you’re looking for a guide on how to store and secure your Tether(USDT) and other ERC20 stablecoins like USD Coin(USDC), Paxos Standard(PAX), and TrueUSD(TUSD) on the Ledger Nano S or X, you’ve come to the right place.
What you’re going to need:
Now, to the guide.
Since the Tether(USDT) and most other stablecoins are ERC20 tokens on the Ethereum blockchain, you’re going to need to install the Ethereum app on your Ledger Nano S/X.
Installing the Ethereum app
- Plug in your Ledger Nano S/X to your computer and Open up Ledger Live
- Enter your Ledger wallet PIN, head over to the Manager section, and select accept on your Ledger wallet for Ledger Live to be able to access your hardware wallet
- A list of apps will then be displayed. Look for Ethereum, and simply click on the Install button
- Now click on Accounts on the sidebar, and click on the Add account button
- You will now be prompted to choose what account to add. Simply type in “Ether”, and choose the Ethereum option. Click on Continue.
- Open the Ethereum app on your Ledger Nano S/X, then click on Continue
- Wait for Ledger Live to sync
- Type in your preferred account name, and click on the checkbox.
Then click on Add account
- You can now send in your Tether(USDT) and other stablecoins to your Ledger Ethereum wallet by clicking on Receive on the sidebar.