Ledger Nano S Review Review Summary The Ledger Nano S is one of the best cryptocurrency hardware wallets available on the market today. Even though it’s not one of the most expensive devices on the market today, it provides top of the line services. It’s versatile, secure and discreet so that your cryptocurrencies are safe. VISIT NOW
Ledger Nano S Review
The Ledger Nano S is one of the best cryptocurrency hardware wallets available on the market today. Even though it’s not one of the most expensive devices on the market today, it provides top of the line services. It’s versatile, secure and discreet so that your cryptocurrencies are safe.
Ledger is one of the hardware wallet industry leaders in terms of innovation and technology. It was founded in 2015 by a group of security experts who have a lot of experience in online security. The company is based in France and began with funding of over $8.4 Million from 15 investors.
As of now, they have two options available to the public. The Ledger Nano S and the Ledger Blue. These products differ generally in terms of quality and price, you can find the review to Ledger Blue here.
Currently, it provides the best hardware wallets available in the market and they pride themselves on this fact. The company also recently introduced the Ledger Vault which is a service that helps enterprises keep their funds safely in cryptocurrency.
Edit (10.24.2017): Ledger just announced a new partnership with Intel to help cryptocurrency owners by protecting their keys from not authorised use. With this kind of partnerships Ledger is with no doubt the safest solution on the market.
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A bitcoin hardware wallet is simply the software of an online wallet which is stored on a device that can be connected to your computer through USB. It’s called a bitcoin hardware wallet because the device is like a small mobile phone or USB key.
The whole idea behind bitcoin hardware wallet is that your bitcoin information is not stored in a system with an internet connection. If there’s an internet connection, people might be able to hack into the system, but a bitcoin hardware wallet can’t be broken into unless someone steals it from you.
The technology inside a hardware wallet is pretty interesting as well. The wallets have a device called a secure element. Think of this secure element as a vault inside the wallet which uses cryptography to encrypt all of the data being stored. It’s like any other processor, it hosts applications and stores the cryptographic data.
The Ledger Nano S is one of the most discreet and effective hardware wallets available on the market today. The Ledger Nano S is shaped like a small USB key and has a small screen which helps in carrying out transactions. Here’s a picture of the device.
The device embeds a small screen which allows users to see their current transaction and verify their payments. Unfortunately, the Ledger Nano S doesn’t have Bluetooth or NFC connection possibilities like the Ledger Blue. But since you can connect the Nano S with USB, I think it’s redundant to have Bluetooth or NFC.
Since the Nano S is an updated version of the Nano, it has a better screen than the older Nano which is much easier to read.
It’s compatible with iOS, Windows, Linux and Chrome OS so it’s usable by practically anybody in the world. There’s no battery in the Ledger Nano S, it will only work when connected to your computer. Since it’s pretty small and can be carried easily, you can definitely do any transactions on the go if you wish to.
The Ledger Nano S is one of the most secure hardware wallets available on the market today. It provides high-end security solutions using different methods to achieve almost perfect security for people. The company itself was founded by security experts who have a lot of experience so it’s pretty trustworthy. In all, the Ledger boasts provision of enterprise level crypto-security to every user.
The Ledger Nano S boasts a secure element which is quite versatile, it can house many different applications securely.
Now, the secure element protects your information by encrypting them using cryptography. Cryptography is essentially like creating a puzzle and then saving the information so that even if people gain access, they cannot read what is within. But people won’t be gaining access any time soon since the secure element functions in a way that isolates it from your computer.
So, if your computer is infected with a virus or a hacker has access to your computer, you don’t need to worry about your coins. Since the Ledger Nano S has an isolated secure element, the information isn’t on your laptop and thus the hacker cannot access your coins. It’s a pretty easy solution for internet security concerns.
The Ledger Nano S also has a WYSIWYS (what you see is what you sign) protocol to help prevent ANY transaction that might be scammy. This essentially means that when you want to carry out a transaction, the Ledger Nano S will display it on its screen and the user will click on the two buttons on the sides to approve the transaction.
Thus, if a hacker has access to your computer and your Ledger device is connected, you don’t need to worry. In order for the hacker to access your coins, he would need to click approve in order to approve the transaction. This is pretty much impossible since the hacker can’t possibly have your computer, your Ledger Nano S, your pin code as well as your 24-word passphrase.
Also, when you set up your Ledger Nano S, the device will generate a 24-word passphrase which you need to note down. After you note it down, the device asks you some of the 24 words to make sure you noted it down. It’s a security measure which makes life much easier. This passphrase can be used to recover your account if your device is broken, stolen or lost. So because of the procedure, you’re forced to write it down and thus you can find it anytime thereafter. You can just buy another Ledger device and get all of your coins on the new device just using the passphrase.
The device is pretty easy to use. When you receive the Ledger Nano S, there’s no anti-tampering tape on the box. That’s because the Ledger team has put in security measures that make sure that there cannot be any tampering with the device. Essentially, a cryptographic mechanism checks the integrity of the Ledger Nano S every time it is turned on. Think of it as a safety check before the pilot takes off. It’s a great way to make sure that Ledger devices are uncompromisable.
The device has a user interface that allows people to easily install new applications or carry out transactions. It’s pretty minimalistic so you might have to get used to it. But once you do, it’s quite easy to use. The link between the Ledger Nano S and your computer/phone is pretty easy to set up as well since the Ledger Nano S supports USB.
The Ledger Nano S features a Ledger App Manager, that can be used to install new apps, update existing applications and enables people to access many cryptocurrencies. The Ledger Nano S supports Bitcoin, Ethereum, Ethereum Classic, Dogecoin, Litecoin, ZCash, Dash, Ripple, Stratis, and Komodo. You can also connect your myEther wallet ot this device and you can access the different tokens available on the market. The device is updatable, so you’ll be able to have access to much more in the future as well.
The Ledger Nano S is one of the most durable, discreet and inexpensive options available on the market today. I think that the Ledger devices have a standard of privacy that everybody should maintain, and the Ledger Nano S is quite cheap. Therefore, the WikiCrypto team gives The Ledger Nano S a score of: 9.1/10
