Adding Bitcoin hardware wallet support to popular exchanges is quickly becoming a new trend. Ever since the recent Bitfinex hack, there has been an increased focus on protecting customer funds at all times. Bitstamp recently added support for the Ledger wallet, a decision many users will appreciate.
It is good to see exchange owners pay attention to what is happening in the Bitcoin world around them. Ever since exchanges became popular, they have been targeted by hackers and other criminals. Despite improving security standards behind the scenes, it has proven difficult to keep funds safe.
Adding support for hardware Bitcoin wallets is a logical decision in this regard. Ledger is one of the most popular solutions among hardware wallets, together with keepKey and TREZOR. Having support for Ledger users on the Bitstamp platform is a significant nod of approval for the French company. Additionally, it also addresses the demands of platform users.
Setting up the Ledger wallet through a Bitstamp account is relatively easy. Everything can be done through the exchange’s interface, as long as the Ledger wallet is connected via USB. Transferring money off the hardware wallet takes a few clicks of the mouse. This solution will let the user remain in full financial control at every step along the way.
In the coming days, Bitstamp will roll out the same functionality for other hardware wallets. No specific companies or models were announced at this time. However, the list of hardware Bitcoin solutions is relatively limited, and the majority of them should be supported before the end of the year.
It has taken some time until major exchanges started adding support for hardware wallets. It is good to see them do so in the end, though. Customers want to control their funds, and benefit from the added security hardware wallets have to offer. Since there is no convenience lost during this process, it only makes sense for other exchanges to add similar functionality moving forward.
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