Security is the most critical thing in the world of crypto. With a ton of exchanges and wallets available for use, let’s look at the Ledger Nano S, the all-in-one shop for saving your cryptocurrencies safely right in your pocket.
What is Ledger Nano S?
Ledger offers one of the top devices with high security. The Ledger Nano S is a hardware wallet that allows you to store your cryptocurrency to protect it. Imagine having your cryptocurrency right in your pocket. Combined with the Ledger Live app, the device also adds the functionality to buy, sell, swap, and stake your cryptocurrencies. The app also syncs with other DeFi apps and NFTs.
If you are looking for the most secured hardware wallet for storing your cryptocurrencies, then get Ledger Nano S. It is highly secured because of the robust security protocols like proprietary operating systems and secure chips. Investors have control of their private key and give them peace of mind on their cryptocurrency assets like Bitcoin, Dogecoin, Flow, Ripple, Litecoin, Tron, Cardano, etc.
Why do you need to buy Ledger Nano S?
The hardware wallet Ledger Nano S is good for both new and experienced cryptocurrency enthusiasts. It is safe, simple, and versatile.
- Security: Security is the major reason you should buy Ledger Nano S. Exchanges are never safe from hacks, but private wallets are much smaller targets. The Nano S has never been hacked as it is designed with secure element chips upon which private crypto keys are stored.
- Universal Wallet: It saves you the hassle of storing different cryptocurrencies that you own in separate supported wallets. Here is a list of supported cryptocurrencies that Ledger can hold.
- Button Verification: Ledger confirms transactions with the push of a button. Even if your device is connected to the computer and the trade is locked in, the transaction is not finished unless you push the buttons. This adds a security layer.
- Quick Payments: Users can make quick payments with their cryptocurrencies using this easy-to-use hardware wallet.
- Universal: It is widely compatible with lots of devices such as tablets and laptops. Users can connect it to any computer via a micro USB cable.
Key Features of Ledger Nano S
The following are key features of Ledger Nano S:
- It has a swivel protective cover.
- Ledger Nano S’ dimensions are 56.95mm x 17.4mm x 9.1mm and weigh 16.2g.
- It is designed with plastic and brushed stainless steel.
- It has a smooth design and can fit into your pocket. You can also use it as a pendant or hang it with your key ring.
- Ledger Nano S does not limit its users. It has support for third-party software such as Bitgo, Copay, GreenBits, etc.
- The Ledger Nano S is a tough competitor as it is one of the cheapest among its peers.
- The device can be set up easily and also has an OLED screen to display information on the go. The OLED screen is also used to display a unique 24-word phrase for the recovery of your wallet. This phrase is not displayed on connected devices, making the Ledger more secure.
Key Security Features of Ledger Nano S
Following are the key security features of this hardware wallet are:
- Secure element (SE) chips (ST31H320 with a CC EAL5+ certification) are used inside the Ledger Nano S. The private key to access your digital assets or cryptocurrencies is stored on the chips.
- It is designed with a proprietary operating system, known as the Blockchain Open Ledger Operating System (BOLOS), and can’t be tampered with easily.
- PIN code security feature supports users to protect their digital coins. A paraphrase is also used to grant access to cryptocurrency wallets that only show up on your Ledger Nano S.
- French National Agency for the Security of Information Systems (ANSSI) audits Ledger independently. Needless to say that the Ledger Nano S has been tested and verified and is one of the best hardware wallets.
- The firmware in the Ledger Nano S is closed-source, so no tampering is possible.
What’s in the Box?
The following are found in the Ledger Nano S package box:
- One micro USB cable
- Ledger Nano S
- Recovery sheet
- One Keychain
- A keyring
How to use Ledger Nano S: Step by Step Instructions
To use the Ledger Nano S, follow these step by step instructions:
- Turn your hardware wallet on by plugging it into the computer using its micro-USB cable.
- Set up your 4-7 digits PIN code and confirm.
- Record your recovery or seed phrase in a safe place.
- Confirm your recovery phrase after writing it.
- Install Ledger Live Application.
- Install applications for your digital coins after setting up Ledger Live.
- Create the wallet addresses for your digital currencies and start sending or using them.
Ledger Nano S Pros and cons
Following are the pros and cons of the Ledger Nano S hardware wallet –
- The setup is straightforward.
- It is an affordable hardware wallet.
- Ledger Nano S supports many digital coins.
- Ledger Nano S integrates with many software wallets.
- It is designed with secured chip technology.
- It is portable.
- It is easy to carry around.
- Unlike Ledger Nano X, it can not hold many coins at once.
- It does not work with iOS devices.
- To use a particular wallet, the users have to install manually and remove the applications.
- It has limited storage capacity.
Ledger has been in the game since 2014 and offers a lot of devices. The Ledger Nano S is one of the best and comes cheap. With features such as a security PIN, paraphrase, and button-confirmed transactions, industry-leading security, closed software, support for third-party apps, the Nano S is one of the best cold storage wallets that you can buy. With additional features such as decent battery life, OLED screen, support of over 100 cryptocurrencies, and combined functionality with the Ledger App, the device becomes any crypto investor’s dream. The lack of additional features and not just the price make this hardware wallet most secure.