How To Manage WAX On Ledger With MEW
WAX is a purpose-built blockchain and protocol token designed to make e-commerce transactions faster, easier, and safer for all participants. Its features are based on incentive mechanisms to optimize the blockchain’s usability in e-commerce and encourage voting on guilds and proposals.
WAX is an ERC20 derived token, hence it can be stored on a Ledger device much like Ethereum. However, unlike Ethereum, WAX can’t be managed locally. Though, a workaround is to connect the Ledger that stores the ERC20 tokens to the MyEtherWallet (MEW). This way you can gain access to your stored WAX with the same ease as if it was done locally on Ledger.
To learn how to do this yourself, follow along as today’s tutorial will all be about how to access ERC20 tokens stored on Ledger via MEW.
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 MEW connected
Step #1. Visit the MyEtherWallet from the main page here, and scroll until you see the ‘Access Now’ button as per the image below.
Step #2. Next, press the ‘Hardware’ wallet as shown below.
Step #3. This brings up a new window where you need to select ‘Ledger’ and then ‘Continue’ as depicted below.
Step #4. Choose the Ethereum app you opened on your Ledger, use the default address, and then click ‘Next’.
Step #5. Keep the network as it is, select an address, then accept the terms and conditions, and finally press on the ‘Access My Wallet’ button.
Now, all that is needed is to add the ERC20 token of interest by following the next instructions.
#1. Access your wallet as per Steps 1–5, outlined above.
#2. In the default token search bar, search ‘WAX’, load the token and that’s yet.
Conclusion
Like many cryptocurrencies, WAX is a fast emerging cryptocurrency. While WAX owners are able to manage their funds directly using the Ledger Live app, the MEW provides that extra account management flexibility when you need it. Use this guide to learn how to connect your Ledger device to the MEW. Enjoy!
