These are just some of the many questions that we all go through when deciding to purchase a hardware wallet. However, later on, after I discovered a few Bitcoin exchanges and became even more interested in the technology, I finally decided to buy my first bitcoins. Initially, I stored them on exchanges. But later, I learned that this is risky as there is no guarantee that they will still be there when I want to use them. At that time, I started using the to store these bitcoins. However, we all know how easy it is to hack a mobile phone. Being from the information technology field and having a keen interest in information security, I knew it was not wise to trust my mobile phone for holding large amounts of Bitcoin and other cryptocurrencies. That is when I discovered , which sounded like the best option for holding Bitcoin for a long period of time, but it still seemed a little too inconvenient. After spending countless nights learning about and which methods would keep my Bitcoin most secure, I discovered a simple :. In the worse case scenario, I will be sharing a review and telling the world not to waste their money. That same day, I transferred all of my bitcoins onto this newly purchased wallet. It was very easy. Within an hour, I was able to secure all of my bitcoins on my brand new Ledger Nano S. Should I buy Ledger Nano S? Go ahead and order it right now. While this wallet gives you complete security, it also gives you something even more priceless: Peace of mind. This means that all cryptos stored here will be secure with the same backup key. It can also connect to your Android device using an. You can receive Bitcoin even if your Ledger is offline. After updating and restoring, all the coins will reappear automatically. The simple act of being able to store other cryptocurrencies on this wallet has, for me, made the whole purchase completely worthwhile. They keep adding in support for newer cryptos for their customers, including the new Bitcoin Cash. How About The Security Of The Ledger Nano S? Note: For even more security options, check out its more sophisticated counterpart-. How Does The Ledger Nano S Ensure Security? Your computer and mobile can be hacked easily. When hackers can hack multi-million dollar servers essentially big computers , then our smaller systems should also be seen as equally vulnerable. The Ledger has a separate chip and screen to mitigate the potential security flaw of certain apps taking random screenshots of mobile and laptop screens. When this recovery phrase is shown on a mobile or computer screen, it becomes susceptible to hacking. When you are using the Ledger Nano S, the seed word is displayed on the OLED screen which only you can see. Moreover, most of the work like checking Bitcoin balances and account management happens through a desktop app while your Ledger Nano S is still connected to the computer via a USB cable. When you are sending Bitcoins to someone, you need to allow the transaction by tapping certain buttons on your Ledger. This means that every time you receive funds, you get a new receiving address. This enhances your privacy to a great extent. You may use this feature in the future when you advance in your Bitcoin and usage. There are more advantages of using that you will discover as you become more comfortable with the device. I highly suggest you. But if you are looking for something portable, then the Ledger Nano S is the best. Think of the Ledger Blue as the iPad version of the Ledger with the same security features. If possible, you should order two. You can use one as a backup in case you travel a lot. This will also allow you to have even more security when dealing with cryptos. Getting Started With The Ledger Nano S Here is a short video series that will help you learn everything about the Ledger Nano S from scratch. I have been using Ledger the Nano S for the past 2 years, and I can confidently recommend this to you. Most of my friends are already using this wallet, and they are using it for just one purpose: Keeping their Bitcoin secure. What will happen if you lose your Ledger Nano S? A: You can order a new one and restore your funds using your seed key. You can also restore your seed on any other like MyCelium, GreenBits, Electrum, and CoPay. If Ledger supports a new cryptocurrency token Ex: Monero , do I need to order a new Ledger? No, you can store newly supported cryptocurrencies on your existing Ledger. This part is easy, and you can learn this from watching the above video playlist. How many cryptocurrencies do the Ledger Nano S support? Ledger supports BTC, , ETH, ETC, , , Stratis, Komodo, Ripple, and zCash. They keep adding support for new cryptocurrencies every few months. Update: Now there more than right now supported by Ledger Nano S. Will the recovery phrase recover all of the additional cryptocurrencies? A single recovery phrase supports all cryptocurrencies. You can restore any cryptocurrencies that you are using on your Ledger device using the same recovery phrase. What if you forget the Ledger Nano S pin code? You can reset your Ledger Nano S to its factory settings by entering the wrong pin 3 times. You will then need to restore your wallet using the 24-word backup key. Ledger Nano S or Ledger Blue: Which one should I buy? The Ledger Nano S is portable and easy to move around with. Otherwise, the Ledger Nano S is better. You can also order both devices and use the same seed key to configure both of them. This way, one device can be used as a backup device. Ledger Nano S Review: Is It Worth It? It has completely changed the game for me as I no longer have to worry about my coins becoming hacked or stolen. This makes it truly secure. Do you own a Ledger Nano S? Are you satisfied with your experience? Share your experience with me in the comments below! Know someone who could benefit from a Ledger device? Share this post with them! Howdy, Welcome to popular Cryptocurrency blog 'CoinSutra'. I started CoinSutra to help users around the globe to learn about popular Cryptocurrencies. Well I believed the hype and bought myself a brand new Ledger Nano S. Only to find you cant have more than 4 Crypto Apps installed. Not what I was expecting. I have researched and heard that the only way around this is to delete the Apps from the device after sending over your coin script. A lot of hassle for a simple fix. I was new to thew blockchain and did not know about getting change back. Can I go up to the same transaction on the blockchain and try again. I noticed there is a button to receive payment would that work. Does it see that it is my wallet and send the address again. Howdy, Welcome to the popular cryptocurrency blog CoinSutra. Howdy, Welcome to the popular cryptocurrency blog CoinSutra.
