Ledger Nano S Review

in ledger •  5 years ago 


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Before starting to talk about this wonder of cryptographic technology, the Ledger Nano S, it is important to know the concept of wallet in the world of cryptocurrencies. A wallet is nothing more than the place or device where crypto assets are stored. There are two types of wallets, the hot ones, those that are constantly online, that is, connected 24 hours a day, and the cold ones are those that are disconnected from the Internet and the computer and, of course, they offer greater security for the protection of your cryptos.

Within the category of cold wallets are hardware wallets. And this is where one of the best of them appears called Ledger Nano S. These offer maximum protection of your active crypto by jealously guarding your private key.

Ledger has been a company that since its inception in 2014, has been dedicated to providing solutions to provide security and protection to cryptocurrencies. Its line of hardware wallets have been sold in more than 165 countries and surpassing one million units.

Ledger Nano S in action


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Obviously, it's hard to talk about a device I've never used (maybe because I don't have the financial means to buy it). I would probably think that why would I spend money on a Ledger Nano S device if I can have my cryptocurrencies in a software wallet inside my PC or simply inside an exchange.

But I finally understood when by chance I received an email from an airdrop indicating that I had won 0.25 BTC. Unfortunately the news was false, however, I thought where would I keep $2500? In an exchange? Many of them are hacked daily; on my computer? Most wallet applications have bugs or errors, which become entries for hackers. I would be constantly nervous and hard to sleep, since most of the time, I would be watching my hot wallets.

Then, I realized that it is better to have a device specially designed for this task, backed by a company that is an expert in cryptocurrency security and that gives me the confidence to have my cryptocurrency investment safe.

Apparently, the Ledger Nano S is very simple to use. When you connect it to your personal computer, you need to configure a 5 number pin, which represents the access key to the device. After this, like any other wallet, you are assigned 24 words corresponding to the seed or private key of your cryptocurrency.

This key must be kept in a safe place. If it were to fall into other hands, they would have control of your cryptocurrencies. It also serves for the case that in some way you've damaged the device Ledger Nano S, or you are a victim of theft, you can recover all your cryptocurrencies with this key.

Basically, it is very simple to use, as it only has two little buttons. Once configured, it is necessary to use the software called Ledger Live in order to make transactions, deposits and withdrawals. And obviously, know the addresses of your crypto assets.

In the following video, you can see how a Ledger Nano S works

If you want to know more about cryptographic wallets visit my post

Cryptocurrencies allowed on the Ledger Nano S

The Ledger Nano S accepts over 1000 tokens, among these:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Monero (XMR)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Zcash (ZEX)
  • Dash (DASH)
  • Stellar (XLM)
  • Tether (USDT)
  • Cardano (ADA)

Technical specifications

In order not to complicate things with technical terminologies, I will say that the Ledger Nano S device comes with a USB cable to connect it to the computer. Its dimensions are 56.95mm x 17.4mm x 9.1mm, so it is quite small and comfortable to carry in your pocket. It has a stainless steel cover and does not require batteries to operate.

In addition, it comes in 5 different attractive colors and a transparent version for those curious who want to see where the tokens are stored 😉

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Great article my friend @jadams2k18.

Posted using Partiko Android

Thank you very much

Need to get one of these.

Yeah! me too 😁... It's so cool 😍

Probably I'll write about Nano-X. The difference, besides the price, is that it includes Bluetooth connectivity.

"Everything is better with Bluetooth." Just make sure the private keys have a special box-inside-the-box.

The key is to keep the 24 recovery words in secrecy so if crap hits the fan, you will be able to recover your cryptos.

Yeah. Maybe the problem is to keep it in secrecy. Maybe you could write them down and keep it inside chemistry or physic book or another book nobody reads hehehe 😆

I really hope you win one of the ledger wallets. I use Atomic wallet and been wanting to write on the wallet because they award people who write on it with their AWC Atomic Wallet coin in their bounty, that would anyway appreciate in value, coz it has good use case for AWC wallet and AWC wallet is a great and safe wallet.

Its not a online wallet but a desktop wallet, but it has to use internet when you need to you open it for which you need net connection but its not a hot wallet since its not in the browser.

But I really as a crypto person who is bound to hold cryptos all my life would love to own a ledger wallet. It was 99 dollars right 2 years ago?. If by chance I make money if cryptos shoot up, I will try get a ledger wallet.

Nice write up, also very good advise on not leaving cryptos on exchange. If you do, please leave it on a exchange.

You are writing about a wallet that you never used!! , that's awesome, lot of helpful details mentioned.

You are writing about a wallet that you never used!! , that's awesome, lot of helpful details mentioned.

I always wanted to have a Ledger Nano S 😄

I've always thought that before buying a device, you have to know it very well not to waste money.

I have Atomic wallet too. I think it is awesome too... I didn't know about the bounty. Could you please send me a link about it?

Nice write up

Thanks! 😄

wow... unvelievable... arey, atomin wallet rewards those who write content about their wallet with AWC... that's the bounty program. Also, if you refer wallet to your friends and they use it, you get rewarded with AWC points. If you post on that wallet on steemit too and send them the link, its also counted.

I think these are the links, I actually wanted to write on the wallet for a while not done it.

https://support.atomicwallet.io/support/solutions/articles/36000066542-how-to-participate-in-atomic-bounty-campaign-

https://bitcointalk.org/index.php?topic=4437634.0

https://beta.bounty0x.io/hosts/AtomicWallet

Do, concentrate on this bounty points, coz I am sure AWC will pick up valuation. They even had a trading competition on Binance Dex, and that coin reached an ath sometime this month. It's good wallet and coin will appreciate in value for sure, so its good to earn AWC by particupating in bounty program.

Thank you! 😺

https://u.today/atomic-wallet-launched-the-membership-program-on-binance-chain

Looks like there are reasons AWC's value is going to go up... wish I held on to my AWC for long term...

Hi buddy!

I saw you wrote about this wallet too. Excellent

Yours
Piotr

Thanks for passing by. I appreciated it 😊