Ledger Nano S Review
The Ledger Nano S is one of the most popular hardware wallet for cryptocurrency. If you are a Cryptocurrency investor who wants the easiest and cheapest way to secure cryptocurrency and plans to store many different coins it is the right choice. Let’s dig more about the Ledger Nano S.
Since the official release of Bitcoin in 2009 Cryptocurrencies have been the future of money. It is one of the various forms of digital money in which encryption techniques are used to regulate the generation of units of currency and verify funds transfer, which is operating independently as a central bank. Online or hardware wallets are used to store this money.
Hardware wallets overview
A hardware wallet is a physical device which programmed to stores private keys of your cryptocurrencies. While there are many types of crypto wallets, hardware wallets are popular for their ability to secure crypto offline. It stores your private keys in such a secure way that you can even use it in computers which are affected by malware.
In hardware wallet, your private keys are isolated from your computer. which keep the risk of theft to zero. Hardware wallets like Ledger Nano S use a second screen/device to verify actions on your wallet such as signing transaction. But software wallets are connected to the internet and expose you to some risks. So hardware wallets are the right choice to store your crypto.
The Ledger Nano S , TREZOR and KeepKey are the world’s most popular cryptocurrency hardware wallets. In my personal opinion Ledger Nano S is more user-friendly than other hardware wallets. It gives users high security for their coins via an easy to use interface.
Ledger Nano S
Ledger was founded in 2014. Today it is a leader in security and infrastructure solutions for crypto and blockchain applications. Ledger is headquartered in Paris, Vierzon and San Francisco.They have clients in over 165 countries and have sold more than 1,000,000 Nano S devices.
Ledger Nano S in concentrated in safeguarding cryptocurrency capitals for many individuals and companies by developing various products and services. Among their products – ledger hardware lines have a market in 165 countries and have sold over 1,000,000 Ledger Nano S devices.
Nano S supports up to 700 coins and tokens here is the list of some top supported coins,
- Bitcoin Gold
- Ethereum Classic
How much Ledger Nano S cost?
Nano S sells for 4900 INR, this also includes free shipping to almost every country. This makes Nano S a bit more costly than other hardware wallets, but the support of additional native coins might be worth extra money.
What is in the Box?
Nano S comes secured in a well-packed box. When you open the box you will find the following items:
- Nano S Device
- 1 micro-USB cable
- Lanyard for wearing the device around the neck
- One keychain and key ring
- Recovery sheet for writing down seed
The Nano S is small and compact. It fits easily in your pocket. It has a metal case which makes it more durable. It has two physical buttons which are added for security. It has a screen on the device itself it is designed in such a way that anybody can use it easily without any technical knowledge.
Below are some of the security features of Nano S,
Anti-Tampering Seal: The box of the Ledger Nano S has a tamper-proof tape around the package. If this seal is broken you can find that someone has tampered with your device before it arrived.
Physical buttons: The Ledger Nano S has two physical buttons for security to confirm a payment you need to press both the buttons at the same time. Therefore, no hacker can hack your device.
Pin code: Ledger Nano S user can create a pin code on setup so that you will not lose you cryptocurrency even if you lose your device. After three wrong guesses of the pin code, the device wipes itself.
Offline Storage and Backups: If you store your bitcoin online there is a chance for theft. When you use the Ledger Nano S which stores your bitcoins offline, then your coins are stored offline and out of reach from hackers. It also gives you the opportunity to create backups of your wallet by writing down word phrase. If your Nano S is lost, damaged or stolen you can use this phase to recreate it.
Comparison of Ledger Nano S and other wallets
The Ledger Nano S VS KeepKey
KeepKey is larger in size than Nano S, which made Nano S easier to carry. Ledger Nano S has two secure elements while KeepKey has one.
The Ledger Nano S VS Trezor
The Ledger Nano S uses two secure chips while Trezor is a mini system. Nano S can store more coins than Trezor .
Ledger was voted as the best hard wallet in 2017 because of its advanced security features, ease of use and affordable price. The Ledger Nano S is a wonderful product with an affordable price. It is the best fact that it supports almost every major crypto coins. It has been purchased by more than a million Bitcoin users and they trust the Ledger Nano S. So if you are planned to buy a hardware wallet Ledger Nano S is my personal choice.
Always purchase the Nano S only from Ledger store not from any other hardware wallet or ecommerce website.