Securing your crypto-coins is important. You should not leave them on exchange. I am not saying that all of them are unsafe but in order to have some extra security you must have your crypto tokens with you. There are several ways to store the tokens with additional security these days like in cold storage/offline wallet/hardware wallet. I really like storing them to a hardware wallet as they are easy and can store multiple type of tokens simultaneously.
Either its about storing bitcoins or altcoins(any other crypto-currency except bitcoin) I personally feel that ledger nano s is a great device to 'hodl' them. Its good for both day traders and long time 'hodlers'. Now, I am quickly going to cover the crypto currencies supported by a ledger nano s device.
Recently they have added Neo to their list. While writing this post, you can store major crypto currencies in Ledger device naming them below:
- Bitcoin
- Bitcoin Cash
- Ethereum
- Litecoin
- Dogecoin
- Zcash
- Dash
- Stratis
- Ripple
- Komodo
- Ethereum Classic
- Posw
- Ark
- Expanse
- Ubiq
- Pivx
- Vertcoin
- Viacoin
- Neo
I wish if they add steem/steem dollars soon. I hope developers are listening
Also, you would be happy to know that you can store ERC-20 tokens too on ledger nano s all you need to do is open myetherwallet website using your ledger device's ethereum app-browser support and authenticate it with ledger nano s doing this you are all set to store ethereum sidechain based other ERC-20 tokens. I personally have one ledger nano s device and it works like a charm.
You can also opt for costlier ledger-blue device which has a larger screen, built in battery and Bluetooth if you want to run multiple crypto-apps together the ledger blue is better as ledger nano s supports upto 5 crypto apps running in parallel but do not worry you can install/uninstall apps during trading and you won't loose any of your token/coins on ledger nano s.
Coming to the price:
- Ledger nano s - €58
- Ledger Blue - €229
Best part is you can pay for it in bitcoins too :)
Remember to safely store your tokens as this is your hard earned money. When I ordered, they had shipped me one from France. Make sure you buy from their genuine website leaving a link below.
Buy from : https://www.ledgerwallet.com/r/4867
How secure is the key transfer process?
What assurance do I get that my keys aren't being sent into the cloud?
How hackable is it? If it gets lost or stolen is there a freeze or destroy function? What about backup keys for the previous scenario?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi, the keys are securely stored on to the device on a dual chip secure element. There is a 4 or 8 digit pin code on ledger nano s so you can only open it if in case you enter 3 times wrong pin it will format/wipe the device and you need to setup it again using the 24-word key words which you need to note down initially while setting up the device at first time usage. Again, if you loose the device you can buy a new one any using your recovery seed words you can get your device back in same condition. Hope it helps :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @me4tech! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you. Learning new things on steemit everyday as I am new here.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @me4tech! You have received a personal award!
Click on the badge to view your Board of Honor.
Do not miss the last post from @steemitboard:
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @me4tech! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit