Feeling unsafe about your bitcoins?
Learn in this article about the extra security that Hardware wallets offer and read an honest review of Ledger Nano S hardware wallet.
Ledger Nano S is provided by Ledger. Founded in 2014, Ledger is french start up company and a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications.
If you are actively involved in the world of Cryptocurrency or are planning to be a part of it, there are so many interesting things to understand in advance. There is no doubt to say that Cryptocurrency holds a great future and experts say that it is the right time to invest in digital currencies to avail maximum profits. But while investing your hard earned cash in a digital currency, the biggest dilemma is about security.
Bitcoin is definitely a great discovery in the world of technologies. Those who are intended to invest in this currency might have gone through several Bitcoin exchanges. People buy coins online and store them on exchanges but they always have a fear in mind that whether they will stay there safely or not. The information security is a big deal in this highly advanced world. Hackers are always making big plans to gain access to bitcoin wallets online. So, in this scenario, the concept of hardware wallet like Is Ledger Nano S becomes worth considering.
What is a hardware wallet and why you can’t I leave your bitcoins on an exchange?
When most of the people are excited to invest in Bitcoins, security has become one of the biggest concerns for all traders. The question is pretty simple, when the digital currencies are saved online on exchanges, how they can be saved from hacker attacks. They are finding innovative ways to steal bitcoin from people and the increases cases of robbery have developed a sense of insecurity about exchange based storage system.
The best solution to stay safe from hackers while making big investments in the cryptocurrency is to use hardware wallets like Ledger Nano S. These hardware wallets are protected by privacy keys that are not exposed to computers. Also, they are immune to sudden virus attacks on computers. Moreover, these hardware wallets can store multiple currencies at a time.
What is Ledger Nano S?
Ledger Nano S is a cryptocurrency hardware wallet with screen designed with robust safety features to secure digital payments. It can be connected to any computer via USB port and works with an OLED display to confirm all transactions online.
You can verify each payment with a single tap on its side buttons. Ledger Nano S ensures that all your sensitive operations in the world of cryptocurrency stay secured behind a PIN code and transactions cannot get tempered online.
When Ledger Nano S is set up for the first time, the user will choose a secure 4 digit PIN for transactions.
Soon, the person will receive a secret 24-word seed that is further used for the creation of private keys. Make sure that this seed is stored in some safe place because one who gets access to this seed will also gain direct access to your currency as well.
The setup task takes few minutes, once you have saved your seed at a secure place, install one app for device interface.
On this app, you have to do some general settings like language and exchange rate etc. As soon as your app is ready to do transactions online you can proceed ahead with your trading needs. Note that, in order to make transactions, you have to use physical buttons on Ledger Nano S every time.
What makes Ledger Nano S suitable for your digital transactions?
This hardware wallet is loaded with several advanced features that make it suitable for all active traders throughout the world. Some of these are highlighted as below:
- Improved security:
Ledger Nano S is designed with dual chip architecture to ensure higher security for digital transactions. The integrity of firmware is supported by cryptographic attestation.
- PIN Code based access:
Your digital currency can stay much safer in this hardware wallet as it allows access to data only after entering the 4-digit unique Pin Code. Whenever it is plugged into a computer, it asks for this password to proceed ahead.
- Privacy keys:
The private keys of your hardware wallet are not known by any third party or by the Ledger itself, they are enclosed privately in a secure element so that Ledger Nano S stays decentralized all the time.
- Malware Proof:
The restoration process of Ledger Nano S is completed in a highly secure environment so that your cryptocurrency account details are never available to the external world.
- Built-in Display:
Every time you make a transaction with Ledger Nano S, you have to confirm it via built-in display by pressing the physical buttons on this wallet. This feature ensures more safety for the online transactions.
Which cryptocurrencies does the Ledger Nano S support?
The great news for traders is that Ledger Nano S not only extends its support to Bitcoin rather it can be used to store many other blockchains based digital currencies as well. It works perfectly with Stratis, Dash, Zcash, Dogecoin, Litecoin, Ethereum and Ethereum Classic.
Ledger Nano S allows users to receive and send payments instantly. Traders can maintain multiple accounts on this hardware wallet while dealing with multiple currencies.
Pros:
- Ledger Nano S is the cheapest hardware bitcoin with screen in the market these days
- This hardware wallet is finished with a sleek design and can be easily fixed to a keychain for easy storage.
- Ledger Nano S is compatible with Chrome OS, Linux, Mac and Window devices.
- Users can receive bitcoins even when this device is offline or not connected to any computer.
- Multicurrency support.
Cons:
- The only trouble is that it cannot be used on mobile devices.
Is Ledger Nano S worth the money you invest?
Most of the professionals say that it is a great product with such a lower price.
The security features are quite impressive and it can take away all your fears about losing your currencies online.
Also, it is quite easier to use with the intuitive app; anyone can handle it with ease. With all such features, Ledger Nano S definitely becomes a must buy the product for all serious bitcoin holders.
Be aware that there are fake Ledger Nano S in Amazon and Ebay that offer no security to your Bitcoins. Click the button to buy the original Ledger Nano S