Golem (GNT) is an Ethereum-based transaction system, aka a supercomputer that allows users to pay or receive payment for resources via the Golem protocol. GNT is the utility token that powers this protocol which is run and maintained on Ethereum. Hence, GNT tokens meet the ERC20 standards.
Most ERC20 tokens such as the GNT token, through the main support of Ethereum, can be fully maintained on Ledger. This includes both the safe storage on a Ledger hardware wallet and full account management not only through the Ledger Live application but also through the use of external wallets like the MyEtherWallet (MEW).
Today, we are going to walk you through the steps to set up MEW and Ledger, so you can securely display and manage your ERC20 account. Ready? Here, we go…
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 MyEtherWallet started
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 ‘GNT’, load the token and that’s yet.
Golem is a fast emerging cryptocurrency. While GNT 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.