The Ledger Nano: Which One’s For You?
|— Buying cryptocurrencies entails the need to store them onto a wallet.|
— There are several types of wallets out there: exchange wallets, digital wallets and cold/hardware wallets.
— With exchange and digital wallets come a number of security and ownership risks that can be mitigated by using a hardware wallet.
— Ledger Nano S along with the Ledger Live app are the perfect crypto-buying combo for beginners, allowing them to seamlessly work with crypto, store it securely and have full ownership over their assets.
Crypto wallets are the places where all your crypto goodies are stored. Before deciding which wallet is for you, you need to understand how wallets work and what are the best wallet options for your journey.
It’s been said that the crypto world is not that friendly towards new-comers. All the cryptic slang, the projects out there, exchanges, coins and wallets would confuse even the most open-minded and agile ones.
While most of the information may seem overwhelming and can give you quite a bit of a headache at times, we want to show you that getting into crypto is not that hard if you have a great wallet to start off with.
Today, you’ll be learning a lot of cool things about wallets, like: what they are, their types and what kind of wallets are suited for beginners.
What are crypto wallets?
The first thing you need to know when making a purchase is that in order to store and manage your precious coins you need (you guessed it) – a wallet. Now, there are a lot of wallets out there and there’s a whole bunch to choose from. From exchange based wallets, to digital wallets and hardware wallets. The question is, which one’s the best?
You can take a deep dive into crypto wallets by reading our Ledger Academy article here.
What types of crypto wallets?
When you’re thinking about “the best wallet option” you need to consider that the most important variables when deciding what to go for are security, ownership and ease of use. Why so? Well, you might have been thinking about it, but we’re going to say it out loud. Your wallets can be easy prey to the greedy clutches of hackers that want to take away your crypto-goods.
When using an exchange based wallet, the provider owns the private keys to your wallet and therefore owns your funds. Moreover, exchange wallets are highly susceptible to hacks. If you want to learn more about ownership and public/private keys, you can here.
Getting a digital wallet will solve the problem of ownership but it won’t make the security risk go away. What’s the optimal wallet solution then? A hardware wallet, which stores your keys offline in a device that only you can access.
Why the Ledger Nano S?
A trusted-buddy is a “must-have” when venturing into crypto-land. This is why we produced the Nano S and the Ledger Live App, a combination of hardware and software that allows you to securely manage your crypto and guides you on your journey towards financial freedom.
In other words, we bring you the ease of use of a digital wallet with the security and ownership of a hardware wallet, the best of both worlds.
Safety first and always
By using the Ledger ecosystem, you’re not only saved the frustration of a bad-crypto experience but you also safeguard your assets against hacks.
The Ledger Nano is the pinnacle of crypto-security, and there are good reasons why.
Ledger leverages the expertise of its internal testing lab, the Ledger Donjon. The team of white-hat hackers relentlessly tests Ledger hardware and software solutions to make sure they’re built to sustain any type of attack.
One of the secrets behind Ledger’s advanced security ecosystem lies in its secure element chip.
It’s the same technology you would find in passports and on credit-cards which provide an enhanced security layer. The Ledger Nano S and Nano X are the only hardware wallets that have received the highest international security certifications there is.
The Ledger experience could be defined as a gateway to all your crypto services. Instead of having a fragmented experience that would cause frustrations, the Ledger ecosystem makes buying, selling, lending, staking, swapping and managing crypto super easy, and in the most secure fashion.
The Ledger Live app and Nano wallet support over 28 coins and 1800 tokens, giving you easy access to a wide pool of crypto-currencies and tokens to choose from and trade with. It helps you seamlessly manage cryptocurrencies while the Ledger Nano S securely stores your keys offline, away from harm’s way. Meaning that any action taken through the software will require a confirmation from your device.
Good looks too
The Ledger Nano S is not only a stalwart protector of your assets but also a slick looking gadget.
Its usb-drive-size and stainless steel coverage make it both easy to carry around and resistant to mechanical shocks. The signature design comes in a variety of colors to choose from, featuring even a “see-through”, transparent option.
When opening your Nano S box, you’ll find the device along with a few items to help you on your crypto journey. Besides the starting guide, you’ll find a micro-USB cable, a lanyard, a loop to attach your Nano S to your keyring and three cards to save your recovery phrase.
It’s a bang for the buck
If you’re looking to make your first hardware wallet purchase, you’re probably not looking to invest a lot of money. Knowing this aspect, the Nano S is positioned as the “go-to” beginner’s hardware wallet, with a price of just 59 Euros.
It’s low entry price makes it perfect for beginners who don’t want to invest a lot of money on security but still want to protect their investments. With the lowest investment in crypto security, you are getting the best long-term returns by having your assets tightly protected.
Setting up your Nano S
Setting it up won’t set you back on your time or nerves. It’s super easy for beginners and highly intuitive to work through.
For your Nano S setup, you will need the “1-2-3” setup-kit:
1. A computer with (at least) Windows 8 (64-bit) or Win 10 (64-bit), macOS 10.10, or Linux with an internet connection.
2. The Ledger Nano S (obviously) and its usb cable.
3. The Ledger Live app downloaded and installed on your computer.
After plugging the Nano S into your computer via USB, you can easily follow the on-screen instructions to set up your wallet. Going through the setup process will only require you to use the “right-left” buttons on the Nano device and will seamlessly guide you through what would otherwise be a more complicated endeavor to undergo.
For a detailed, step-by-step, walkthrough of the Ledger Nano S setup process you can watch a dedicated video here and ease your way through the whole process. You also have access to a comprehensive list of digestible tutorials available on Ledger Academy.
Is it time for an upgrade?
You’ve been at the game of crypto investing for some time. You are now considering moving into trading and take advantage of the daily “ups-and-downs” of the market.
It’s only natural that you’ll need the freedom of a smartphone to buy and trade your assets while you’re on the move. Well, this would be the appropriate time to upgrade your game to the Ledger Nano X. Unlike the Nano S, the Nano X features a Bluetooth connection and will work in tandem with your smartphone and the Ledger Live app.
Both of the Nano brothers have the same security, ownership and privacy standards, so you don’t need to worry about any of those while making your pick.
Choosing the right wallet is critical in making sure that you avoid all the bumps on the road. The Ledger Nano S is the surest bet to having the right crypto-start, it provides a seamless way to transact and manage cryptocurrencies, with guaranteed safety and ownership of your assets.
Still looking for that extra bit of trust before taking that first step? Take a look at what our Ledger-users have to say about their purchases!
Troy G. / Verified Buyer
Review left on Jan 22, 2021
“Nano S Easy to Use. I purchased the Nano S and was concerned that I would not be able to use it properly. However, Ledger sent me links to videos – even before the Nano arrived – so I would know how to use it. After watching the videos several times and walking through the process, it turned out to be very easy to set up and use.”
William A. / Verified Buyer
Review left on Feb 1, 2021
“Excellent device. Works as advertised. Software interface easy to navigate.”
David F. / Verified Buyer
Review left on Jan 30, 2021
“Great Product – Easy to use. I was a bit intimidated by blockchain security related issues. Ledger makes using the technology easier.”
Knowledge is power – so keep on learning! If you enjoy getting to grips with crypto and blockchain, check out our School of Block video How to Keep Your Crypto Safe.