Ledger has a selection of hardware wallets and currently, the most popular model is the Ledger Nano S. It is a very compact device that has a micro USB port which needs to be connected to a computer or mobile phone. The physical device holds the code which is a necessity to execute transfers of cryptocurrencies like Bitcoin and Ethereum.
Ease of Use
Once you have the device, you need to install their app for PC or mobile and set up your wallet. The steps are pretty easy to follow. The installation process is relatively straightforward and requires using Google Chrome. Simply plug the device into a USB port and go to my.ledgerwallet.com to automatically install the Chrome application which will then connect to Ledger’s API server and access the blockchain.
Security
You have the option to enter a PIN or use the suggestions from the installer. It will also generate a unique “seed” which are randomly generated words so make sure you write them down because you will be needing this in the event that you need to restore your PIN. Such features make the wallet safer and more secured.
Cost
The Ledger Nano S costs $58 for the device. While some may consider the price to be a little expensive, it actually is a worthy investment especially if you own cryptocurrencies that are high in value. Would you consider saving a few hundred dollars only to compromise the security of your digital coins? Adding a few extra bucks surely won’t hurt if it would give you peace of mind.Conclusion
Ledger has efficiently added a physical element for storing your cryptocurrencies safely and protected from hackers. It practically has all the functions that is expected from a hardware wallet but with a number of value-added features. If you’re in search of a reputable hardware wallet provider the Ledger definitely wins in this category.
Ledger Wallet Overview |
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| Website | www.ledgerwallet.com |
| Wallet Type | Hardware wallet |
| Supported Coins | Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Litecoin, Dogecoin, Zcash, Ripple, Dash, Stratis, Komodo, Ark, Expanse, Ubiq, Vertcoin, Viacoin, Neo, Stealthcoin, Stellar, Hcash, Digibyte, Qtum |
| Platforms | Web, Mobile App |
| Price | $58 |