What Is The Ledger Nano S?
If you’re familiar with hardware wallets, you know you that one of the most important things revolves around securing your assets. Hardware wallets protect your cryptocurrency investments and some can even sync with your mobile phone. They use advanced chip technology to store your currency. Unlike a standard bitcoin wallet, many hardware wallets are also multicurrency and allow you to carry several types of cryptocurrency at once. In the hardware wallet industry, one brand tends to stand out: Ledger.
For those in the know when it comes to cryptocurrency, you’ve likely heard of the brand Ledger. Ledger produces cryptocurrency wallets that are used to secure your assets and protect your investments. They rely on USB technology to facilitate the transference of currency and each Ledger device is discrete and sleek. You’ll need to set up a recovery phrase and a pin code to access your currency. You’ll need to write your pin code down and store it somewhere securely. For your recovery phrase, each Ledger device uses the industry-standard BIP39 seed.
This recovery phrase makes it so you can derive private keys for all of your coins and currencies. Where a bitcoin wallet doesn’t need support for multicurrency, a Ledger device can maintain numerous apps, depending on their size. You can typically have between 3-20 apps on your Ledger device at once. Your Ledger device supports many of the big-name currencies like Ethereum, Bitcoin, and EOS but also provides support for a great deal more.
With their Ledger Live suite, you can manage 23 coins and ERC-20 from a mobile phone or compatible desktop computer. For additional assets, you can use external wallets. Your private security key and recovery phrase are protected within the Ledger chip which protects your coins from even the most sophisticated of attacks. As an added bonus to all the security features and coin compatibility, Ledger also has a reward system in place. You can earn these rewards by utilizing the Ledger Live platform or even an external wallet. This brand offers a variety of devices but perhaps their most popular is the Ledger Nano S hardware wallet.
A Look at the Ledger Nano S
The Ledger Nano S, part of the Ledger Nano line is one of sleekest, most discrete hardware wallets on the market. It, alongside the Ledger Nano X, is slim and small, appearing to the untrained eye to be just your regular USB stick. The Nano S comes in a variety of colors as well so you can secure your cryptocurrency in style. The Ledger Nano S is compiled from brushed steel and plastic but it isn’t flimsy by any means. It also comes with a bundled USB cable so you don’t have to sort through boxes of wires, plugs, and cables to find one that matches your Nano S.
One of the most important features of the Nano S is its evaluation assurance level (EAL). The Ledger Nano S is a CC EAL 5+ device. This means that it is semi-formally designed and tested. The testing for the Ledger Nano line is rigorous and uses a high level of independently assured security during both planning and development. This means that you can always feel secure when using your Ledger Nano S.
While Ledger offers a variety of other products and models as well, it stands to reason that the Ledger Nano S is one of the most well-liked hardware wallets on the market. Finding a Ledger device is easy, regardless of your market. For example, if you’re in Canada, all you need to do is search “Ledger Nano S Canada” and the results should point you in the right direction.
If you’re not using a hardware wallet to secure your cryptocurrency investments, you might be doing yourself a disservice. Keep your assets protected and choose an industry pioneer like Ledger to help your investments remain safe and secure.