The most popular hardware wallet.
Do you hold a lot of altcoins and worry about their safety sitting on a cryptocurrency exchange? The Ledger Nano S is compatible with the highest number of cryptocurrencies of any hardware wallet on the market today, so you can rest easy knowing your coins are safe and yours.
What is a Ledger Nano S?
The Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet. This device is built on robust safety features for storing cryptographic assets and securing digital payments. You can easily connect the Ledger Nano S to any computer. The Ledger Nano S uses a secure OLED display to double-check and confirm each transaction using the buttons located on the side of the device.
Ledger Nano S First impressions
The Ledger Nano S is a clean and sleek device. It has a strong metal cover that protects the devices screen. The screen on the Nano S is used to view your private key, cryptocurrency addresses that you are sending to and general device navigation. The Ledger Nano S has 2 buttons on the top of the device which lets you switch through different cryptocurrency wallets on the ledger nano s.
Ledger Nano S security features
Owning your private key
The Ledger allows anyone to have complete control of their cryptocurrencies. Having a Ledger Nano S means you have access to a complete permissionless way of transferring money. You own the private key with the Nano S, a unique key to a digital vault.
Offline recovery phrase generation
Our favourite security feature of the Ledger Nano S is the offline generation of the recovery phrase. When the words that you use to restore your device are only shown on the Ledger Nano S then you are able to generate a private key on a computer which is potentially compromised.
Nano S incorrect pin number
If someone steals your Ledger Nano S you don’t have to worry, the device will wipe itself if someone guesses the pin code 3 times wrong. It is near impossible to guess a 4 digit pin in 3 guesses, better yet, you can set an 8 digit pin and make it even harder. Now don’t worry if you accidentally wipe your device, because you own the recovery phrase which was generated offline you can also restore your Ledger Nano S.
The Nano S recovery phrase
The main importance of the Ledger Nano S is the recovery phrase you generate offline using the wallet. This recovery phrase is a 24 word seed which is used to restore your cryptocurrency balances onto a new wallet if your hardware wallet is lost. Considering the importance of the 24 words, Ledger should look into supplying a more robust offline backup for the Ledger Nano S. We suggest to grab an indestructible offline backup solution such as the Billfodl to couple with the security of the Ledger Nano S Device, however you may find the paper offline backup solution to be sufficient for your needs.
Ledger offer an amazing software suite, Ledger Live, to connect and manage your secured cryptocurrencies. The Ledger Live is used to setup your device, show account balances,add or remove different cryptocurrencies to your Ledger Nano S, send or receive cryptocurrencies from your wallet.
Ledger Nano S supported coins
The Ledger Nano S is supporting an uncountable amount of cryptocurrencies and this list is growing. Check out the official list on the Ledger Website.
Bitcoin, Ethereum and the most well known cryptocurrencies
Most well known coins will be supported in the Ledger Live software such as Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Dash, USDT. Other cryptocurrencies may need a different wallet software to be compatible with the Ledger Nano S.
Most ERC20 tokens you will need to use a software called MyEtherWallet or MyCrypto to connect to your token on the Ledger Nano S.
Some cryptocurrencies will need you to download a specific wallet to use the Ledger Nano S as the Ledger Live does not offer support and the cryptocurrency is not an ERC20 token. For instance IOTA requires you to use a wallet called Trinity and Neo requires the NEO Wallet.
Ledger Nano S Review
I've been researching companies online in Australia looking for a company that offers the best service. Because under 1% of people don't understand crytpo people need education and support and not just treated like a number. Coinstop ticked all the boxes because they offer one on one support via remote technology.
Ledger Nano S
Simple to use and cheap to buy.
Ledger Nano S