Synthetix(SNX), an Ethereum project that has existed since 2018, had a huge run up from late 2020 up to early 2021, ending it up in the top 30 coins on CoinMarketCap.
But as you may know, having great and successful cryptocurrency investments are pretty pointless if your funds are insecure and could be potentially stolen sometime in the future.
So if you’re a fan of the Synthetix derivatives liquidity protocol and are looking for a guide to properly secure your Synthetix(SNX) tokens, you’ve come to the right place.
What wallet should I use?
Synthetix(SNX) is currently an Ethereum ERC20 token. So just like any other ERC20 token, you can store your Synthetix(SNX) on reputable Ethereum wallets like MyEtherWallet(MEW) and MyCrypto; or preferably, through a reputable hardware wallet like a Ledger Nano S or the newer and Bluetooth-enabled Ledger nano X if you’re holding a significant amount.
How do I create a secure Ethereum wallet for my Synthetix(SNX)?
You can follow our guide here: How To Create a Secure Ethereum Wallet
After creating an Ethereum wallet using our guide, you can simply send out your Synthetix(SNX) to the Ethereum address of the wallet you’ve created.
Does the Ledger Nano S or Nano X support Synthetix(SNX)?
Yes, Ledger hardware wallets do support Synthetix(SNX) tokens and all Ethereum ERC20 tokens in general.
If you don’t have a Ledger hardware wallet yet, you can grab one here: Ledger Nano
How do I store my Synthetix(SNX) on the Ledger Nano S/X?
If you own a significant amount of money on Synthetix(SNX) or any other cryptocurrency, we heavily recommend using a hardware wallet like the Ledger Nano S/X. You can follow our guide here: Store your Ether & ERC20 Tokens on the Ledger Nano S/X
After installing the Ethereum app on your Ledger Nano S/X and on Ledger Live, simply send in your Synthetix(SNX) to your Ethereum address on Ledger Live.
After sending in your funds to your Ethereum wallet on Ledger Live, you can access your Synthetix(SNX) and your other ERC20 tokens on MyEtherWallet here: https://www.myetherwallet.com/access-my-wallet