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Cryptocurrency Wallet Ledger Nano S

Ledger Nano S

Ledger Nano S is a USB sized cryptocurrency hardware wallet which is best for Ethereum transactions. It is a multi-asset hardware that looks like a folding flash drive. The best part is that it can store Bitcoins, Ethereum, Ethereum tokens, and more than 30 other digital currencies. It works like a USB device, which when connected to the device needs the device to confirm transactions.

When you want to send coins to someone, you simply need to plug the wallet into your device (such as a laptop) and then enter your private pin number. If the wallet is lost or stolen, you can recover your coins by entering your backup passphrase on another device! It is one of the affordable OLED-based hardware wallets.

  • Website: www.LedgerWallet.com
  • Payment Method: Ledger Nano S includes Bitcoin, Litecoin, Ethereum, and Ethereum Classic companion apps, and other blockchain-based cryptocurrencies. You can send and receive payments, check your accounts and manage multiple addresses for each currency from the same device.
  • Features: Secrets like private keys are never exposed: sensitive operations are isolated inside your hardware wallet within a state-of-the-art Secure Element, locked by a PIN code. Transactions can’t get tampered with, they are physically verified on the embedded screen with a simple press of a button.
  • Other Benefits: Ledger Nano S supports the FIDO® Universal Second Factor authentication standard on Google, Dropbox, GitHub or Dashlane.
  • Hard Wallet or Digital Wallet or Both: Hardware wallet(Cold Wallet)
  • Desktop or Mobile App: None
  • Control Rating: You control
  • Type of Verification: Manual Transaction verification
  • Vulnerable or Secure Environment: High security
  • Privacy Rating: High privacy
  • Available Platforms: Android, macOS, Windows, Linux
  • Best feature: Super secure offline storage and slick design

Ledger Nano S Supported Coins

As per Ledger’s website, the Nano S natively supports 1184 coins. These include most of the major coins like:

  • Bitcoin (BTC)
  • Bcash (BCH)
  • Binance Coin (BNB)
  • Cardano (ADA)
  • Dash
  • Dogecoin
  • Eos
  • Ethereum
  • Ethereum Classic
  • Litecoin
  • Monero
  • Ripple (XRP)
  • Stellar
  • Tether (USDT)
  • Tron (TRX)
  • Zcash 

Ledger Nano S Pros and Cons

Pros:

  • The setup is pretty simple and straightforward.
  • Ledger Nano S is capable of running third-party apps and currently, as per the site, there are 18 installable apps.
  • Ledger Nano S supports a vast variety of coins.
  • Integrates with a large number of software wallets.
  •  It is a very affordable hardware wallet ($59), giving a very high-value proposition.
  •  The entire recovery process can be done from the device only without even connecting it to a computer.
  • Features Ledgers secure chip technology.
  • Pretty inconspicuous looking since it resembles a simple pen-drive. Plus, it is pretty lightweight, so can be easily carried around.

Cons:

  • Not open-source hardware.
  • The recovery sheet can be stolen or replicated if enough care isn’t taken.
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