If You guys are just planning to buy and manage the Cryptos then it can be a kind of a challenging task. One of the major tasks when we hold cryptocurrencies is their safety and security. After since digital currency has become so vibrant and famous its safety concerns are now the prime issues. However, in this piece of writing, we will explore the most secure and safest ways of keeping Cryptocurrencies in different circumstances in the light of the most famous hardware wallet ledger Nano S.Readers are advised to stick this article by the end so that they may be able to have a better understanding of Ledger Nano S and its basic security features.
The unfortunate incidents of cryptos theft and stolen made us worried about its safe storage and better security features.
Ledger Nano S is quite famous among the holders of digital currencies just because of its remarkable and highly protected safety standards. We will provide you all the necessary information about Ledger Nano S so that you become fully aware before making any decision about the storage of your Cryptos Holding. World's top best bitcoin hardware wallet ledger nano s learn more about its feature supported coins free app independent reviews how to use ledger wallet.
Ledger Nano S is one of the famous hardware devices for the storage of cryptocurrencies. It is also the widely used cold storage method, keeping your cryptos safe and foolproof. Its popularity and use are getting higher just because of its unmatched safety features. This is a USB-like device that stores your private keys securely without having the fear of theft and hackers attack. Most importantly Ledger Nano S is a much safer and secure method for your Crypto Currency as compare to web wallets and available software wallets. Exodus and Jaxx are the major examples of software wallets that are usually approached through websites like Binance and Coinbase. As hardware wallets are not connected to the internet until they are plugged into your Laptop or Desktop. Its offline storage feature makes it distinctive and safe from any kind of Malware and hackers attack.
Ledger Nano or the Hardware wallet functions as a mini-computer that will securely save your private key in it. But remember you are still required to plug it into your laptop or computer in order to complete your desired transaction. Even Your Ledger Nano is operated by using a website or a kind of software to send the transaction, even then you don't need to be worried because the transaction is singed inside the Ledger Nano S, therefore your privacy remains safe and never shared with your laptop/computer or the websites and software that it uses. Moreover, you can't even see your private key on the hardware wallet itself.
The Ledger Nano S was designed by a French company called Ledger. In 2014, it was introduced to the emerging market of digital currencies. Its embedded security function makes it fully secure. The first hardware wallet (Ledger Nano S) was initially launched in December 2014 later on more technological developments were made and the French Company(Ledger) introduced its latest version called Ledger Nano X. The Nano S has been very successful, with over 1,000,000 units sold. Ledger is one of the pioneer companies when we talk about the secure technology of digital or cryptocurrency. The teamwork of high experts of digital technology made the Ledger a credible source of storing your digital currencies in the safest mode. As said earlier the Ledger Nano s has been quite successful with over 1000000 units sold, its market price is around $ 70 almost similar to Trezor wallet.
A display screen is no doubt an important security feature. Both the trezor and ledger wallets got a display screen on them to make them friendly users without having doubts. Earlier, the Trezor wallets only had a display screen and the old versions of Ledgers wallets were available without a display screen. Later on, keeping in view the rising demand and possible threats to the security of digital currencies the company Ledger introduced the version Ledger Nano S with a display screen feature. A display screen is no doubt an important security feature because it is used to display the recovery phrase or recovery seed for your private and confidential key. The most important benefit of the display screen enables you to ensure that you are sending the right amount of your BTC holdings to the address.
The Ledger Nano S currently supports the below mentioned digital currencies for your information.
Contrary to the Trezor, the Ledger Nano S version fully supports the maximum cryptocurrencies. It sounds that you won’t have to use MyEtherWallet for Ethereum and ERC-20 tokens, for instance.
Both the wallets Ledger and Trezor work with Windows, Linux, and Mac OS. Both hardware wallets are required to get connected to the internet, through a micro USB cable. The setup process of both Ledger Nano S and Trezor is almost similar to each other. These both of the wallets required two basic steps setting a pin code and writing down a backup of your recovery seed. You definitely need a backup key in case if you lose your private and confidential key. The private and confidential key is a series of 24 randomly selected cryptographic words that are generated by the wallet.
If we compare both hardware wallets Ledger and Trezor, don't have much difference between each other. Both Trezor and Ledger Wallets got a display to confirm the seed phrase as well as the transactional amount to send and receive. Trezor has a bit large display screen than the Ledger which makes it a little bit more convenient to have a view. However, the version Trezor T got a nice colored touch screen. Trezor wallet is prepared from plastic and Ledger wallet is available in a stainless steel body, if we talk about the structural durability the ledger wallet seems more durable and portable presenting a more stylish look. Both Trezor and Ledger have two buttons that are used to manage their software. However, Trezor buttons are a bit easiest to use because it got some space between the buttons. The size of the Trezor wallet is bigger than the Ledger thus making the Ledger wallet quite easy to carry.
Since we have gone through the Basic Features of Both the hardware wallets Trezor and Ledger Nano S. We have come to an analysis that both the hardware wallets got satisfactory storage features of your cryptocurrency safety and better protection, just the difference in size and material does not make a huge difference while the basic SOP s are almost similar to each other. If we talk about the price value, it is also the same therefore you are recommended that any one of them can be used for the better safety and storage of your digital currencies.