In summary, it probably makes sense to use a newly generated ETH address to claim Spark to, but make your own decision based on your own situation. Maybe this matters to you, maybe not, but there are potential privacy considerations there.Īlso, once you've received the Spark, you will need to extract the private key/24 words from the Nano ETH wallet in order to use them on the Flare network, which defeats the purpose of using a hardware wallet (unless Ledger releases a Flare app for the Nano in the meantime). If you choose to use an existing ETH address, then others will be able to see that the ETH address is related to the Flare address and the XRP address that you claimed from. You'll need a "Flare compatible wallet" to actually see and use the spark when they are distributed. The Spark that you receive will not appear in the Ledger Live app or on any Ethereum blockchain explorer. You can use the existing ETH account on your Nano to claim Spark, however: I am finding quite confusing posts/blogs etc that indicate this is not compatible.Ĭan someone clear up this doubt for me as I find a lot of the jargon completing alien and confusing to me. I used an ETH account that is also on my Nano x. With all things crypto these early days, ALWAYS know wtf you are doing, and have a disaster recovery plan (firebox, safe deposit box) also a custodial plan in case you get hit by a bus (assuming there is anyone you'd want to inherit your precious Zerps). This is a complex topic, and part of the "barrier to entry" that has suppressed crypto from achieving broader popularity. IF you have the XRPL secret key (a big harry password essentially), you don't need a Ledger device to access your tokens. Some devices like the Nano Ledger support recovering access to your XRP tokens by means of a series of words, which necessitate acquiring a new Ledger device to replace the lost one. ONLY IF you have backed up the secret key of your actual XRPL account, where everyone's XRP tokens are tracked and recorded. You could throw it into the ocean, and your XRP will still be accessible. If you do get a "hardware wallet" like a Ledger, your XRP tokens are not actually "stored on it." There are plenty of Youtube vid to show you how to do it.įor the benefit of all the new girls and guys reading this thread. From the ledger you can do the trick for the snapshot without moving your xrp from your wallet. First move your xrp away from Kraken (never have anything on an exchange) to a ledger wallet. The 6th-ranked crypto asset by market cap is down more than 1% in the past 24 hours.You are looking for a safe way. XRP is trading at $0.478 at time of writing. The airdrop has endured significant delays: Flare initially planned to distribute 45,827,728,412 of its native token Spark in the first half of 2021. The company previously said that each eligible holder will immediately receive 15% of their claimable Spark tokens, and then claim an average of 3% per month, carrying on for a minimum of 25 months and a maximum of 34 months.įLR will be distributed to XRP holders based on a snapshot of the network taken in late 2020.įlare plans to launch in beta for the first 6-9 months, but the company says that will not impact the token airdrop. The company says the exact date depends on feedback from exchanges.įlare Network, with its native FLR token, aims to essentially bring smart contract capabilities to various blockchain networks, starting with XRP and then Litecoin ( LTC). Provided enough validators take up their roles, Flare plans to distribute the FLR tokens between October 24th and November 6th. Flare also says it is currently working to onboard crypto exchanges to ensure the airdrop is “as seamless as possible.”
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