Ledger Nano S
Ledger Nano S
On release, the Ledger Nano S was one of the first hardware wallets on the market. For
a long time this hardware wallet dominated the crypto space.
If you’re completely new to the crypto space, you might be wondering what a hardware
wallet is? To put it simply, a hardware wallet is the safest way of storing your
cryptocurrencies offline. It gives you the extra layer of protection against cyber attacks,
malware and phishing sites. You can also work with many different blockchains at the
same time. This means that you’ll now be able to manage all your Bitcoin and altcoins
on the same device. This device is a tangible item, unlike other digital cryptocurrency
wallets. Often looking a lot like a USB flash drive. So now that I’ve given you a brief run-
down on what a hardware wallet is, let’s get into greater detail on the Ledger Nano S.
I would say the Ledger Nano S is the most affordable entry point into cold storage
hardware wallets. Selling at just under $70. A few noteworthy specs/mentions include its
industry leading certified security chip (CC EAL5+), it allows you to install up to 6 apps
on your device among 1100+ compatible crypto assets and you are also able to
manage and approve all actions made through the Ledger Live app (this can be
accessed via PC or mobile). One of the downfalls of this wallet is that it lacks Bluetooth
connectivity. It also does not have a USB type-C cable, so those who own certain
modern smartphones might have trouble connecting their devices. But other than that,
this is a great hardware wallet for beginners.
When receiving your Ledger Nano S, you will have to go through the following steps:
1. Install and set-up the Ledger Live app on the device/s of your choice. The Ledger
Live app is the software used to link, set up and manage your crypto assets.
2. Next you’ll be prompted to choose a pin and write down your recovery phrase.
Your recovery phrase is made up of 24 words that you will need to back up and
store in a secure place. NEVER share this phrase with anyone.
3. The third thing you will need to do is install some applications on your Ledger Nano S. To do this simply go to the
Manager in your Ledger Live and select the application(s) you wish to install
on your Ledger Nano S.
4. Finally, add an account to manage your crypto.
Now you can send your crypto assets from any wallet or exchange directly to your device.
To find out more, visit; https://shop.ledger.com/products/ledger-nano-s