When it comes holding your crypto securely the unanimous vote from the crypto community goes to the digital hardware wallet AKA the cold storage device. This is the way to go if your looking for peace of mind with your store of crypto.
Despite good security measures being in place on your computer, it is hackable, as are centralised databases like exchanges and cloud based wallets which store your private keys on the internet. Exchanges are to exchange, not to store. If you haven’t heard already, it is best not to leave your crypto lying around in an exchange.
A crypto wallet stores public and private keys and interacts with various blockchain networks to allow you to send, recieve and monitor your balances. There are many types of crypto wallets available.
The benefit of a cold storage device is that it enables you to store your crypto securely offline, protecting you from the exposure to malware, viruses and third party access.
The sleek style and simplicity of the Ledger Nano S makes it the trusted choice for a large majority of early adopters in the space as a secure source of storage for their cryptocurrencies. It is one of the leading players in the hardware wallet market.
There are some good choices in the hardware wallet market, so..
What makes the Ledger Nano S standout from its competition?
Well there’s a few things…
Ease of use: The user experience is seamless. You rotate the metallic sliding cover to reveal the display screen. The device has two buttons on the upper side which you press to navigate the user interface. And, a micro USB port to connect it to a USB port on your Laptop/PC. You simply put your wallet in your USB port, type in your preset security code, open the app on your desktop and you’re away.
Multi currency support: Whilst it doesn’t handle the biggest range of currencies and tokens on the market, it does cover some of the biggest crypto by market cap. It allows you to store the likes of Bitcoin, Ethereum, Ripple and Litecoin.
Easy configuration: You simply set up a pin code. Next your device will display a list of 24 words known as your recovery phrase. You write these down on the recovery sheet provided. Once complete, your device will then ask you to confirm a few words. After a couple of seconds loading the app icons will appear on the screen and that’s it. You are ready to use it.
Back up: The ledger comes with a simple with a 24 seed phrase as mentioned above which you write down on a recovery sheet. If you ever lose or destroy your Nano, you will need your seed phrase to recover your crypto.
In summary, if you’re looking to get a safe, easy to use cold storage cryptocurrency wallet look no further than the Nano S Ledger Wallet.