How to Transfer from One Ledger to Another Ledger
To better understand for transfer of one ledger to another ledger. Let’s find an example.
Sometimes, perform/format some goods from a person and sells Other goods to him. The same person is, therefore, a creditor as well as a debtor of the firm, and show his name will appear in the sales ledger as well as in Purchase/bought ledger.
transfer from one ledger to another ledger
In this situation, a contra entry is working in accounting systems for entry transfer from one ledger to another ledger.
Transfer From One Ledger to Another Ledger
However, the Settlement of such a person’s Account will be made by deducting the balanced office one Account having a small amount from the other having a greater amount.
Thus, for this purpose transfer entry is made in the Journal this transfer will affect the total debtor’s account and the total creditor’s account.
The following Journal Entry will be passed for this purpose:
It is to be remembered that if the Debit balance is transferred from the sales ledger to the purchase ledger or the credit balance is transferred from the purchase ledger to the sales ledger.
Thus, the transfer entry to be passed will be the same if the credit balance is transferred from the sales ledger to the purchase ledger or the Debit balance is transferred from the purchase ledger to the Sales Ledger.
The following Journal Entry will be passed for this purpose:
Now you can understand how e can transfer from one ledger to another ledger in accounting systems.
Ledger to Ledger transfers are now possible – Radar Relay
Hardware wallets, or cold wallets, have been the safest way to keep cryptocurrency funds to date. Even if you connect it to an infected computer, there’s just no way (that we know of) for hackers to get to your funds. This makes hardware wallets such as Ledger the go-to choice for cryptocurrency enthusiasts when it comes to safeguarding tokens they’re holding long-term.
There was just one problem: if one wants to trade or transfer, they would still have to take the funds out of the Ledger and send them to an online exchange or wallet. From here, funds will be just as susceptible to whatever attacks or compromise the exchange will suffer (if it does). The computer being used to access the exchanges and wallets can also be compromised as well.
But now these problems are taken care of.
Decentralized exchange startup Radar Relay has created the solution that would probably effectively make their breakthrough into the highly competitive and already crowded blockchain industry. In a Medium post yesterday, the startup has announced that they are now supporting Ledger hardware wallets.
Yep. You can now transfer directly from one Ledger wallet to another—no need to move your funds to online wallets or exchanges. Just connect your Ledger and follow the usual steps to sync it with your computer, and use Radar Relay to set gas prices and send funds. A tutorial is also included in their Medium post for anyone interested.
This is the first time direct transfers between physical wallets has been made possible. Consequently, the move has been received positively, with Radar Relay hitting 10,000 Twitter followers as of yesterday. Although now, users are lamenting a different but well-connected problem: Ledger wallets keep running out. Ledger VP of Engineering Fred de Villamil says they’re trying their best to keep up with demand.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
OKX анонсировала совместимость с кошельками Ledger
Что произошло? Криптовалютная биржа OKX представила функцию Quick Transfer, которая позволяет осуществлять быстрые переводы средств, а также анонсировала интеграцию с аппаратными кошельками Ledger для упрощения самостоятельного контроля средств со стороны пользователей. Об этом команда биржи сообщила в пресс-релизе.
Что еще известно? С помощью функции Quick Transfer пользователи могут переводить свои активы между биржей и ее кошельком Web3 Wallet. Функция пока доступна в мобильном приложении на Android, позже появится и версия для iOS.
Совместимость между мобильным приложением OKX и аппаратным кошельком Ledger появится до конца года. Пользователи смогут управлять своими криптовалютами в более чем 40 блокчейнах и получать доступ к децентрализованным биржам (DEX), NFT-платформам и децентрализованными приложениям (dApps) непосредственно со своего кошелька. В настоящий момент совместимость с кошельками Ledger и Trezor есть лишь у веб-расширения OKX.
Как заявил директор по финансовым рынкам OKX Ленникс Лай, самостоятельное хранение активов приобретает все большее значение в криптовалютной отрасли, особенно в последние месяцы. Сочетание функции быстрого перевода и совместимость с Ledger позволит клиентам приблизиться к безопасному самостоятельному хранению активов и контролю над ними.
Ранее глава криптобиржи Binance Чанпэн Чжао и глава совета директоров компании MicroStrategy Майкл Сэйлор также призвали пользователей хранить активы на собственных кошельках По их словам, это поможет на фоне рыночной турбулентности и растущей неопределенности.
Кроме того, в ноябре OKX запустила сертификат доказательства прозрачности активов (Proof of Reserves, PoR), с помощью которого любой клиент платформы может проверить информацию о наличии резервов и пользовательских средств на бирже. Согласно заявлению компании, она поддерживает резерв в соотношении 1:1 для всех пользовательских активов и обеспечивает полную прозрачность резервов и средств.
Михаил Голиков
Send USDC to Ledger
A fast and simple tutorial to send your USD Coin (USDC) to your Ledger Nano X or Ledger Nano S Plus wallet.
In this guide, we outline the safest way to send USDC and other ERC-20 tokens from any crypto wallet to your Ledger Hardware Wallet. Get started in minutes with a simple video tutorial.
How to send USDC to Ledger
The best way to custody your USDC is with a Ledger hardware wallet like the Ledger Nano S or Ledger Nano X. This effectively secures your assets against third parties like FTX or BlockFi from gaining access to your funds.
Here’s a step-by-step guide to getting your USDC onto your device:
- Set up your Ledger device: Follow the instructions provided by Ledger to set up your device and select a PIN code.
- Download the Ledger Live app: Available for both desktop and mobile, this app will be required to securely manage your USDC.
- Add Your Accounts: Before you can send USDC, you’ll need to add your account. You can either link an existing account or create a new one.
- Send USDC: Once your account is set up and you have the correct address, all you need to do is send USDC from any crypto wallet to the Ledger Live app.
- Receive Your Funds: As soon as the transaction is confirmed, you should be able to see your USDC in the app and on your hardware wallet.
Is storing USDC on a Ledger safe?
Ledger hardware wallets are one of the safest ways to store your USDC and other ERC-20 tokens, as these devices use a combination of secure hardware and software components. Moreover, your wallet is PIN protected for added security.
We recommend that you always back up and securely store your recovery phrase somewhere safe. This will allow you to restore your wallet should you ever lose or damage it.
What are the fees to move USDC to a Ledger Wallet?
The fees to send USDC from your crypto wallet will depend on the network you are sending the assets from. For example, if you are sending USDC to your Ledger Wallet via the Ethereum network, the gas fees should cost somewhere between $5-$10. This is a small price to pay to secure your assets and prevent third parties from committing fraud.
Bottom Line
If you are looking for a secure way to store your USDC and other ERC-20 tokens, then a Ledger hardware wallet is an excellent option. With robust security features, a user-friendly interface, and support for major crypto networks like Ethereum and Bitcoin, Ledger offers one of the most comprehensive solutions available today.