Individual apps for each coin are installed when you set up the device. Make sure that you select the correct app associated with that particular coin and select be pressing both buttons at the same time. Your Ledger device has specific apps for receiving different digital assets you wish to store in it. Please click on continue when done selecting the account and the currency 5. The selection will entail selecting the account you wish to move your digital assets from and which specific digital asset or coin you want to move to your device. The pop-up screen will show you the steps for receiving funds 4. On the menu on your left, please select “Receive” A funds receipt screen will pop up. If you have set up the Ledger device by downloading and installing the host software on your PC, this should be intuitively easy. Open the Ledger Live application and input your password. Plug in your LedgerĬonnect your Ledger Nano s or Nano X to your PC using the provided 2. Make sure you follow the manufacturer’s advice in downloading the appropriate software and setting up the device. Transferring Coins from Coinbase to Ledger Nano S or Xīefore you can transfer crypto from Coinbase to your Ledger Nano X or S, you must first set up your device. Manually confirm that the Address in both the device and the Ledger Live app is identical. On the “Verify address on device” prompt, select “Continue.” Transferring Coins from Coinbase to Ledger Nano S or X.Theoretically, the more merchants that accept crypto payments via Flexa, the higher the staking yield- where the staking yield comes from real-world use and does not depend on constant token inflation. The merchant can accept instant (zero confirmation) payments since they are insured against loss, and AMP stakers receive a passive income while accepting the risk that a small portion of their tokens could be sold to reimburse a merchant. With this model, you can see how AMP and Flexa work together to create a decentralized solution to crypto payments. Additionally, the 1% transaction fees that each merchant pays are used to buy AMP on the open market to be distributed to AMP stakers. If a merchant were to not receive their crypto payment staked AMP gets liquidated to cover the loss. This stakes AMP and then acts as collateral against loss. First investors purchase AMP and stake it on the Flexa network. The Flexa fee is usually about 1% (compared to 3% from most credit card companies), but if a customer pulls off a double spend or there is some other problem with the crypto payment, the Flexa network reimburses the merchant.ĪMP in practice AMP tokens can be used as collateral through a simple process. The merchant pays a fee to accept cryptocurrency payments via the Flexa network. By using AMP to insure against loss, the Flexa network allows a merchant to accept an instant crypto transaction. That long wait time is what AMP and Flexa aim to solve. With cryptocurrencies, such as BTC for example, even though a transaction may show up in a receiver's wallet within seconds, the transaction is not fully confirmed until much later (30 to 60 min in most cases). A brief history Built through close collaboration and partnership between Flexa and ConsenSys, Amp is a new staking platform designed to support the instant and verifiable collateralization of any type of value transfer.
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