What is a HOT wallet?

Let’s start first with the basics and understand what is actually a crypto wallet and how it works. A crypto wallet is a tool or an interface that can be used to interact with a blockchain network. We can find them as software, hardware, and paper wallets. Or as hot and cold wallets. One important aspect is that crypto wallets don’t store cryptocurrencies, being a non-custodial environment. It stores the public and/or private keys instead, which basically allows you to send and receive cryptocurrencies.

A hot wallet is any crypto wallet that is connected to the Internet. The biggest advantage of a hot wallet is that it’s very convenient, especially as a mobile app. It offers quick access to basic operations, as send and receive, or even staking. A hot wallet is a safe way to store your cryptocurrency. However, the safety and security of a hot wallet are dependent upon the user’s behaviour.

What is a COLD wallet?

Cold wallets have no connection to the Internet. The sensitive data is stored offline, which makes them resistant to hacking attempts or unauthorised access. Ledger is such a wallet, perhaps one of the most secure alternatives that is currently available on the market.

However, Ledger, if used stand alone, has some downsides. Most of the experience is less user-friendly and are not convenient, namely the funds are difficult to be accessed in comparison with hot wallets.

What is a "HODL" wallet?

Using both Moonlet and Ledger wallets all-together, basically a HOT and a COLD wallet, makes this method particularly suitable for “HODLers”, which can manage, stake and spend securely their crypto assets.

As a best practice, it is recommended to keep a small portion of your holdings in a hot wallet and the remaining assets in a cold wallet, until you need them for specific transactions. It’s less likely that a hacker will break into a hot wallet for a small number of tokens, as well to target a cold wallet which is an offline environment.

Connect Nano X

Connecting your Ledger Nano X to Moonlet is very easy, doesn’t matter if you have an iOS or an Android phone. It requires just a few simple steps and here you have a HODL wallet. Managing, staking or spending your crypto assets from now on would become both convenient and secure.

Step 0

Select Network, Ledger and Connection, then start Connect process.

Step 1

Please make sure your Ledger Nano X is unlocked with Bluetooth enabled.

Step 2

Confirm on both your phone and your Ledger Nano X if the code matches.

Step 3

Please open your Zilliqa app on your Ledger Nano X.

Step 4

Verify your Zilliqa address on your Ledger Nano X and confirm it.

Step 5

Your Ledger Nano X is ready
to be used with Moonlet .

In order to be able to connect your Ledger Nano S to an Android phone, it’s required to have the Ledger OTG Kit which contains all the cables and adapters you need. Please bear in mind that iOS devices don’t support cable connectivity.

Connect Nano S

Step 1

Please make sure your Ledger Nano S is unlocked with cable connected.

Step 1

Please make sure your Ledger Nano S is unlocked with cable connected.

Step 2

Please open your Zilliqa app
on your Ledger Nano S.

Step 3

Verify your Zilliqa address on your Ledger Nano S and confirm it.

Step 4

Your Ledger Nano S is ready
to be used with Moonlet.

.zil & .crypto

Replace cryptocurrency addresses with a human readable name. Send Zilliqa, Ethereum, and any other cryptocurrency from Moonlet with just one domain name.

Get Yours Now

Let's talk

Please feel free to get in contact with us. We are always open to receive feedback or discuss about business opportunities. As well, don’t hesitate to let us know if something doesn’t work as it should.