Having Cryptocurrency in possession is what people these days are dreaming of or aiming to achieve. With each passing day, the craze for cryptocurrency among the masses has been reaching newer heights or even the skies. But only a few know that a wallet has been required.
Note, there are numerous and various kinds of wallets available. But Ledger Nano S is the most popular among people. But having a hardware wallet eliminates the chances or the risks of hacker attacks. Making it very much difficult to be hacked, as the hardware device is sort of USB like. Only online when its plugged in, that is what people prefer the Hardware wallet over the rest of wallets.
In this article, we will be having a closer look at the Ledger Nano S, and providing all that you need to know or must know before making Ledger Nano S as your ordered cryptocurrency wallet.
Talking about the pros, Ledger Nano S being a hardware wallet is itself a merit of using this wallet for your cryptocurrencies. As it gives you an extra security edge over the other wallets. Not only that, you can store multiple cryptocurrencies in this wallet. Ledger is easily compatible with multiple platforms, be it Windows, Mac, Linux or Chrome OS and even be connected to the Android device.
In case of receiving Bitcoin, the Ledger doesn’t require to be online. The Bitcoins will be received even when offline. How cool is that!
Storing cryptocurrencies on the Ledger has made it an experience worthwhile among the cryptocurrency holders.
There are numerous things that can be talked about the Ledger Nano S’ security, and here we mentioned some tips you should know before ordering one and actually using one.
If you are making a payment, then you are required to press both the physical buttons at the same time. In order to ascertain no hacker could find their way into making a payment from your device.
Well the Ledger Nano S will work once a user creates his/her PIN code to setup the wallet.
The need for a PIN is essential as in case of a misplacement or accidental loss of your hardware device, you don’t lose your coins with the hardware. Nobody would be able to send payments from your lost device, without knowing the 4 digits that you carry in your mind.
The best thing that Ledger Nano S could offer to you. Is the availability of storing coins online. Talking about the environment it is really secure. The keys or the Bitcoins stored online are vulnerable to be targeted by the hackers. Using a hardware wallet (storing Bitcoins offline) makes your coins out of reach of the hackers.
You must be wondering why is there a need for the screen? Well once the hardware is setup, Ledger will generate you a recovery phrase when offline and displayed on the screen. Making certain the recovery phrase never reaches you. This phrase will be a backup of your wallet.
The functioning of the screen doesn’t end there, it also plays a vital role in adding another verification layer. Sending payments to be confirmed, so that the right amount is delivered and received at the right address.
Few Important Things To Know:
As looking at the aforementioned advantages and security assurances, you would have gotten the idea as of why people are crazy and trustworthy about the Ledger Nano S. Which makes it high in demand, therefore it might take time in reaching you once ordered. So patience is a virtue in this regard.
Well, I would recommend you to order the Ledger Nano S hardware wallet from the official website only. The website is mentioned (Ledgerwallet.com).
Ledger Blue or Ledger Nano S?
Ledger website offers you Ledger Nano S and Ledger Blue. Both are great products, but portability lies with the Ledger Nano S. Ledger Blue can be regarded as iPad or tablet version of Ledger Nano S, with the same security functions as found in the Ledger Nano S. But can’t be carried around like a portable USB. Which makes it easier to carry on the go.
What Ledger Nano S lacks?
For the security concerns, Ledger Nano S will be always found to be the most satisfying among the users. But nothing is perfect is in the world, and so there lies a lack of one thing in the Ledger Nano S. That is if you lose your passphrase and the device, you lose everything.
What is passphrase?
In simpler words, a passphrase is the custom text that you can put up as your passphrase (24 digits). In case of a theft of hardware, the person having hardware possession will be required a seed along with the passphrase that is the creator only.
News heard and talked about is that Ledger is working on inducting such a feature in the wallets to come in future. Which is already making a lot of talk in the cryptocurrency and wallet market.
Without a second thought Ledger, Nano S is the securest hardware wallet that comes with a screen as well. Not only the securest but the cheapest as well. In case you are still thinking, don’t think, make up your mind facts are in your front, and Ledger Nano S stands ahead of all cryptocurrency wallets. Offering safety, as well as the portability. So quit wasting time, and get on with ordering it. You can thank us later.