Ledger Nano S Wallet
Website
Needs a desktop computer with a USB port, running Google Chrome, and having the operating system Windows, Mac and Linux. It is also possible to use it with mobile devices.
- ValidationSPV
- AnonymityMedium
- Ease of useIntermediate Upper Intermediate
- Supported Coins
- DASH
- DOGE
- DGB
- ZEC
- STRAT
- QTUM
- ETC
- BTG
- XRP
- KMG
- ARK
- EXP
- UBQ
- VTC
- VIA
- NEO
- XST
- XLM
- HSR
- PIVX
Pros & Cons
- Cold wallets provide a very high level of security, which is essential for high-volume traders.
- There is a high degree of user control, provided sufficient skill in using the device.
- Users control of their own cryptocurrency, and never have to enter their private key, so it is kept safe.
- Cryptocurrency is backed up by seed key, so losing the device doesn’t cause the loss of your cryptocurrency.
- It is possible to use for on-the-go payments on a mobile device, with use of third-party software and the correct connector cables.
- You have to pay to buy the device, so it isn’t free upfront.
- It is complicated to install some third-party applications required for some coins and for companion wallets.
- If you do frequent transactions, you will have to keep track of two separate wallets, the hot one and the cold one.
- The software to run the wallet isn’t open-source.
Features
Ledger does include the possibilities of interfacing with hot wallets, even mobile ones. It requires a PIN code to operate, and any cryptocurrency stored on it can be backed up by a seed key.
Wallet Info
- Founder(s)
- Eric Larcheveque and Joel Pobeda
- Price
- 79 EUR (currently £69.50)
- Private Keys Stored by
- You
- Security
- High
- What it is
A physical hardware device that stores cryptocurrency keys (a cold wallet, disconnected from the Internet unless plugged in), that also includes hot wallet software to be used in combination with the cold wallet.
AuthorDavid Nugent
David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.
