Review: Ledger Nano S Wallet

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Ledger Nano S review

With the recent cryptocurrency hacks and thefts, it has become imperative that traders and investors opt for a safe means of storing their coins. The Ledger Nano S wallet is that safe means. The Ledger Nano S wallet gained so much popularity because of the impressive features it offers its users. It is a hardware wallet that store cryptos in an offline means otherwise called cold storage. Unlike most of the other wallet types, hardware wallets like the Ledger Nano S have been developed in such a way that users can make use of them on computers that have been compromised by malware. This means that you can safely use your Ledger Nano S hardware wallet on computers that have been infected with a virus. The Ledger Nano S wallet is one of the oldest and most secure hardware wallets in the market.

I Want to Store my Cryptocurrency with the Ledger Nano S

Rating 4.5 / 5

Pros

  • Allows users to store some of the most valuable cryptocurrencies in the world
  • This wallet can be integrated into a number of mobile wallets
  • It comes with an O-LED display that allows its users to double check their transactions.
  • It is affordable
  • It is easy to set up
  • It is portable

Cons

Price $65

Which Coins Can Be Stored

This hardware wallet offers its users the opportunity to store some of the world’s leading cryptocurrencies. They include;

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Dash (DASH)
  • Zcash (ZEC)
  • Ripple (XRP)
  • NEO (NEO)
  • Qtum (QTUM)
  • Stratis (STRAT)
  • Bitcoin Gold (BTG)
  • Vertcoin (VTC)
  • Viacoin (VIA)
  • Hcash (HSR)
  • Stellar Lumen (XLM)
  • And more

Ledger Nano S coins

Background

The Ledger Nano S wallet was developed by the Ledger Wallet Company which was in itself founded in 2014 in France. Since the launch of this hardware wallet, it has continued to gain much popularity and this is simply because of its amazing features. Like most of the other wallets like KeepKey and Trezor One, the Ledger Nano S wallet comes with an in-built organic LED (OLED) display screen. This design does not just make the wallet sleek and attractive, it affords users the opportunity to double-check each of their transactions by simply tapping a button.

If you are planning to get this hardware wallet, it is important that you remember that the wallet can be connected to any computer through USB. Even though the computer has been infected, the wallet is capable of being used without it getting infected.

Security

As mentioned earlier, hardware wallets are known to be the most secure wallets to store cryptos. The offline means of storing coins is responsible for that. This hardware wallet has deployed certain security mechanisms that will ensure that the coins of users are safe. When using this wallet, it is important that you write down your security seed on paper and have it stored in a safe place.

The private keys of users are stored offline, meaning that no one can get access to them. Like every other hardware wallet, the Ledger Nano S is close to impossible to hack. During set up, users are given word-seeds that will help them recover their funds in the event that their device is damaged or stolen.

I Want to Store my Cryptocurrency with the Ledger Nano S

How To Use

First, you will be required to connect the hardware to your computer with the USB cable that is provided. Once this is done, the wallet will come to life and will direct you to the start page of the wallet.

What Is In The Box

The Ledger Nano S when delivered is sealed with cellophane. Unlike most of the other hardware wallets, this wallet comes with an anti-tamper software that will notify you if the device has been tampered with. This anti-tamper software deployed is commended as there have been reports of people selling second-hand wallets with recovery seeds and PIN codes already activated.

When you open the box, you will see the following items;

  • The Ledger Nano S hardware wallet
  • A USB cable
  • Instruction card
  • Lanyard
  • Keychain and a recovery card

Ledger Nano S box

How does the Ledger Nano S Wallet Work

You will have to install certain applications. You can do this with your chrome browser. The first app you have to install is the “Ledger Manager” that will afford you the opportunity to install applications for the different cryptocurrencies you seek to store. The wallet is designed in such a way that about 5 applications can be supported.

When you install cryptocurrency apps like the Bitcoin or Ethereum app, you would have to run it. You will be asked to enter your PIN in the device, then you can choose to create a Bitcoin address. The interface of this device makes it easier for you to quickly download and install these applications to ensure that you make good use of the hardware device.

You can also make use of other wallets like the MyEtherWallet on this hardware wallet.

Conclusion

The Ledger Nano S is one of the most secure wallets, it is quite easy to make use of. It has this impressive design and quite a few features, but asides that, the wallet is like every other hardware wallet in the market.

I Want to Store my Cryptocurrency with the Ledger Nano S

Interested in reviews of other wallets? Visit our wallets page.

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