The ledger Nano S has become one of the most sought out cryptocurrency storage facilities, capable of holding a varying number of different virtual coins and is only limited by what it can’t handle. Not only can this hardware wallet store the mainstream cryptocurrencies like bitcoin and ethereum, but it can also harbour a host of altcoins as well. Since altcoins are becoming increasingly popular it makes sense for this hardware wallet to make room for their storage. The hardware device is built on a number of incredibly robust safety features, which are a necessary defence in order to combat the ongoing cyber security battle that is constantly happening, and when it comes to cryptocurrencies, security is paramount.
The Ledger Nano S is one of the most popular, but also one of the most trusted and secure hardware wallets available, and this commands a higher price than some of the other hardware wallets out in the world today. The price is currently 79 EUR (+VAT), which may be subject to change in the future but for now, this is a decent price for such a sought out wallet.
Firstly right off the bat is that this hardware wallet supports mainstream cryptocurrencies and many altcoins as well, so Ledger have supported fellow investors who have looked elsewhere for digital coins other than the likes of bitcoin or ethereum. Altcoins are in fact becoming increasingly popular with many turning away from bitcoin and the more mainstream cryptos as they see more potential in lesser known coins. The list of coins it can store includes: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum Classic (ETC), Litecoin (LTC), Dogecoin (DOGE), Zcash (ZEC), Ripple (XRP), Dash (DASH), Stratis (STRAT), Komodo (KMD), Ark (ARK), Expanse (EXP), Ubiq (UBQ), Vertcoin (VTC), Viacoin (VIA), Neo (NEO), Stealth (XST), Stellar (XLM), Hcash (HSR), Digibyte (DGB), Qtum (QTUM), Peercoin (PPC), PivX (PivX), PosW (POSW), Bitcoin Private (BTCP), ZenCash (ZEN), Woleet, Nano, Nimiq.
Your cryptographic assets that his hardware wallet holds are protected by a secure chip with numerous layers of security to help protect your cryptocurrencies from cyber theft. These types of thefts are on the rise, and so Ledger have acknowledged this problem and tackled it head on.
The Ledger Nano S lets users see a confirmation message presented to you on the wallet itself. As cryptocurrencies leave your wallet to their intended recipient, you can see the confirmation as the transaction takes place rather than wait for an email as such.
Another layer of security includes the built-in 4 digit PIN code which acts as a password so the device knows that it belongs to you. If you don’t put in the correct pin code then the device won’t open for you, it’s as simple as that.
One of the most important features of the Ledger Nano S is its seed generation and recovery. Many times this has come in handy for those who have either lost or had their wallet stolen, because they can enter a list of random words that came with their wallet. Just like the PIN code, the list of words are used to identify them as the owner of that particular wallet and so they can recover what was on it.
The Ledger Nano S is fully compatible with Google Chrome applications in order to help users manager their cryptocurrency wallet. Simply download the bitcoin chrome app, which has rich settings whilst featuring multi-accounts.
The main attraction for the Ledger Nano S wallet is its simplistic approach to storing cryptocurrencies. You’ll notice that this one screen and two buttons. The left or right buttons are used to browse the different options that are presented to you, and buy pressing them both at the same time, you confirm your choice.
Why Choose Ledger Nano S
The whole concept of a physical hardware wallet for the storage of your cryptocurrencies escapes many people but the benefits are truly revolutionary, with some holding the notion that paper wallets are enough security, but is it really? The main idea behind a hardware wallet is to offer an isolation between your private keys, and your computer which can easily be hacked or breached. The vulnerabilities of our computer equipment today are astonishing, despite what many anti-virus or security companies say, these vulnerabilities are well-known by hackers and will do whatever they can exploit these gaps in security.
If you tend to keep your private key on your computer or your phone, then sooner or later you will fall victim of crypto-theft. A paper wallet may sufficient but that is only until you want to use your cryptocurrencies, where you are required to input your private key on your computer, and if you are that naive to believe that password encrypting your keys will be enough then sadly you’re wrong. Malware programs are incredibly smart and they can wait a really long time before they obtain the decryption before they are granted access to your stash.
Hardware wallets like Ledger Nano S are reliable, convenient and affordable, you can take them with you wherever you go. They are backed up by a paper wallet to allow for an easy recovery in the event of you losing your wallet. Anyone with a significant amount of cryptocurrencies, or even if you don’t have a lot, a hardware wallet should be your first choice, because at the end of the day they offer the highest security when compared to other hardware wallets.
Why You Shouldn’t Choose Ledger Nano S
In all honesty, this wallet has been designed and put together so well, that I have struggled to find a reason as to why you shouldn’t use this wallet. It offers high end protection, and has a flawless design so it only really comes down to a matter of opinion as to what wallet would suit you best. There are plenty of great hardware wallets out there and Ledger Nano S is one of them, and I would recommend this to anyone who is looking to safely store their cryptocurrencies.