Ledger Nano: Security Made Easy
Back in our Security and Ownership Playlist, we explained how important it is to be the true owner of your funds, by ensuring the security and ownership of your private keys. That’s where our Nano hardware wallets come in. And this article is precisely about introducing it to you.
A Device that Gives You Full Ownership Over Your Crypto
Two things really matter when you invest into crypto: the security and the ownership of your coins. We wrote about that previously: crypto assets are digital money, they are nowhere physically speaking. This means that it is on you to ensure they remain truly and safely yours. To do so, you need to protect the private key which gives access to your coins.
At Ledger, we offer you the best security, ownership and control over your assets. To do so, we created Nano hardware wallets combined with one-single app Ledger Live. Making sure your private keys remain safe in your device and never become accessible to thieves or hackers. In short, the devices are designed so that your private keys never leave the security of the hardware. Even when connecting your hardware wallet to your smartphone or desktop.
Why is Ledger Nano the Most Secure: Don’t Trust, Verify
At Ledger, we are pioneering hardware wallet technology that provides unprecedented levels of security for crypto assets. How? By creating certified devices that are secure by design.
- All of our Nano hardware wallets possess a certified chip, designed to withstand sophisticated attacks. They are called Secure Element (SE), and are cryptographically protected, similar to the ones used in the likes of passports and SIM cards. Unlike the generic chips used in remote controls or microwaves, your private keys stay safe and isolated inside the Secure Element chips.
- Besides, Ledger Nano wallets are the only hardware wallet to have their own custom OS – called BOLOS. One designed specifically to protect your crypto assets. Not your family pictures. A tailor-made OS provides you with a higher protection from malicious attacks.
- Need more proof? Ledger Nano wallets are the first and only certified hardware wallets on the market, certified for its security by ANSSI, the French independent cyber security agency.
Make Your Device Securely Yours: the 24-Word Phrase
Every hardware wallet comes with a secure authentication process. One that commonly operates at two different levels: the PIN number and the Recovery phrase.
Your PIN number or PIN code
When setting up a new Nano device, you are asked to choose a PIN code. This code allows you to unlock your device, similarly to the passcode you used to unlock your smartphone. Here are the DOs and DONTs you need to follow. Don’t panic! They are mostly common sense:
Your 24-word Recovery Phrase
You may have already heard about that one. Whether it’s called Recovery Phrase, Seed Phrase, 24 Words, it’s all the same. Your 24-word recovery phrase is the only backup of your private keys.
While your PIN code is unique to your physical device, your Recovery phrase is directly linked to your private key, therefore to your funds. It remains the same even when you switch to another device. And if discovered by anyone, it would give them access to your funds.
Your recovery phrase is a unique sequence of 24 words, randomly generated by your hardware wallet during initialization This is the only time they are displayed and they are the only backup to your funds. Since no third parties are involved, there is no other backup. You are the only one in charge of your money. For example, if you forget your PIN code or lose your device, your 24 words allow you to regain access to your funds via your backup Ledger hardware wallet or simply any other wallet.
Conclusion: do not share or lose your 24 words, ever (qed). Keep them safe and secure instead. How? When your 24 words are displayed on your device screen, you must carefullywrite down (in correct order and without any misspellings) your 24 words. Then protect them after you initialize your hardware wallet. To help you, every Ledger hardware wallet comes with a Recovery Sheet: a physical card specifically designed to store your 24 words. Please review the best practices to safeguard your recovery phrase and sheet, and carefully follow them. Once again, it is your responsibility.