A Concise Review of Ledger Company
The Ledger company was established in 2014 by a group of professionals and experts in IT and Finance, determined to create an innovative and secure solution for numerous blockchain applications.
The company goals are to secure: crypto-assets and big data consistently being generated at IoT, machine to machine (M2M) communication, and digital identities services. Ledger Nano S crypto hardware wallet is one of the best products of the company.
Introduction to Ledger Nano S crypto hardware Wallet
The Ledger Nano S is a hardware wallet, developed by the Ledger to safeguard users’ crypto-assets.
The Ledger Nano S is considered as one of the best cold wallets like Trezor One and Trezor T. Ledger Nano S is a leading bitcoin/altcoin hardware wallet having a small solid device with metal casing protection.
Ledger Nano S is an approved hardware cryptocurrency wallet, best suited for digital coins and token holders for whom the security of crypto-assets is of high significance.
The Ledger Nano S is a crypto hardware wallet, developed by the Ledger to safeguard crypto-assets. Currently, the crypto wallet offers support for more than 1100 different crypto-assets. Some of the well-known crypto-assets are Bitcoin (BTC), Ethereum(ETH), Bitcoin Cash (BCH), Ripple (XRP), Monero, NEO, Dash, etc.
Setting Up the Wallet
For the first time when plugging into the computer, the user will set up a PIN and it will generate 24 words phrase which will be user private key to it also know as recovery seed. It will be ready to use after installing the software. The private key should be placed in a secure and protected place.
The Ledger Nano S is compatible with different operating systems like Mac OS, Windows, Linux, iOS, Android.
The Ledger has developed many products including Ledger Nano S, Ledger Nano X, Ledger Backup Pack, the BOLOS operating system, and many more.
The company offers a wide range of support services organized as Announcements, Must Read, Contact Us, and standalone support for Ledger Nano S, Ledger Nano X, Ledger Live, and many more products.
Some of the Pros and Cons of Ledger Nano S
Accepts crypto transfers even being offline
Supports multiple coins
Ease of use
Upper hand design
Relatively Small Display
Lack of Wireless Connectivity
Some of the FAQs about the Ledger Nano S wallet is,
What happens if Ledger Nano S breaks?
If a ledger breaks down, the user should order a new one and insert the recovery seed phrases into the new ledger nano s, and the user wallet will be restored.
Is Ledger Nano S secure?
The Ledger Nano s wallets make use of something called a ”secure element”, a dedicated, tamper-proof chip, considered as the primary security feature of the Ledger.
How much can a ledger Nano S hold?
What Coins Can be stored on the Nano S?
The Ledger Nano S offers support for more than 1000 coins and tokens.
Can ledger be hacked?
Ledger said that its e-commerce database had been compromised on 25th June, and accessed about one million email addresses. However “This data breach has no link and no impact whatsoever with our hardware wallets nor Ledger Live security and your crypto assets, which are safe and have never been in peril. You are the only one in control and able to access this information.”
Ledger nano s is one of the best bitcoin hardware wallets based on its high profile security features, weight and size, and company support.