How To Manage Telcoin Stored On A Ledger Device With MyCrypto
Established in July 2017, Telcoin (TEL) employs the Ethereum blockchain technology to provide access to decentralized financial services on any mobile device. Telcoin is centered on high-speed, low-cost digital remittances to mobile money platforms and e-wallets.
While TEL is an ERC20 token, it can be freely stored and managed directly from cold storage using the Ledger Live app, that is as long as the coins are stored on a Ledger device. In addition to the Ledger Live platform, the stored TEL on a Ledger can also be managed through the use of third-party wallets such as the MyCrypto wallet or the MyEtherWallet.
However, our focus today will be on the MyCrypto wallet, and specifically how to manage TEL tokens stored on a Ledger device via this wallet.
Before you begin: You will need to have an initialized Ledger hardware wallet, plus the Ethereum app already installed on your Ledger device. You also need to have the Ledger Live application downloaded and installed on your device.
Make sure you are using the latest version of Ledger Live.
How to get Ledger and MyCrypto started
(1). Visit the MyCrypto main website here. From the main page, you then get a welcome window, and you can navigate through until you hit the connection page, as shown below.
(2). Click on ‘Get Started’ and from the new window select the ‘Ledger’ option in the top left corner.
(3). Once you click on the ‘Ledger’ option, a new window like the one below will appear. Now, make sure you unlocked your Ledger device by entering the PIN code and opened the Ethereum app with the browser from the app ‘Settings’ enabled. When this is all done, click on the ‘Connect to Ledger Wallet’ button as shown below.
(4). A new window will open, which should show your Ledger device, and click ‘Connect’. Next, you will get a selection of addresses to choose from. Once this is done, click ‘Unlock’.
(5). Any ERC20 token can be added to your local MyCrypto interface by clicking on the ‘Scan For Tokens’ button on the right-hand side of the interface.
That’s yet. Now you should see the wallet dashboard where you can start managing the TEL tokens just as easily as with the Ledger Live app.
Conclusion
Like many cryptocurrencies, TEL is a fast emerging cryptocurrency that is not yet fully supported on Ledger. However, the power of the MyCrypto wallet provides a means to manage TEL stored securely on a hardware device by connecting directly to a Ledger device. This way, TEL owners can both secure their assets as well as manage them properly. Enjoy!
