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Nano S Ledger

Posted: Thu Dec 07, 2017 1:25 am
by Ultimatebtc
Cryptocurrency hardware wallet

Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments. It connects to any computer (USB) and embeds a secure OLED display to double-check and confirm each transaction with a single tap on its side buttons.

Priced around $120SGD, it can be a good investment considering the amount of Bitcoin you intend to buy and hold, and to prevent yourself losing it at the Exchanges (vulnerable to hacks and collapse).

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LATEST GENERATION HARDWARE

When you own cryptocurrencies, you need to protect your confidential data and the access to your funds. With Ledger Nano S, secrets like private keys are never exposed: sensitive operations are isolated inside your hardware wallet within a state-of-the-art Secure Element, locked by a PIN code. Transactions can’t get tampered with, they are physically verified on the embedded screen with a simple press of a button.

PAY AND AUTHENTICATE

Ledger Nano S includes Bitcoin, Litecoin, Ethereum and Ethereum Classic companion apps, and other blockchain-based cryptocurrencies. You can send and receive payments, check your accounts and manage multiple addresses for each currency from the same device. Nano S also supports the FIDO® Universal Second Factor standard that simplifies the authentication process on compatible online services such as GMail, Dashlane, Dropbox or GitHub.

If you are not familiar with the notion of hardware wallets, you may wonder what the advantages are versus a paper wallet or an encrypted private key on a computer.

The main principle behind hardware wallets is to provide full isolation between the cryptographic secrets (private keys) and your easy to hack computer or smartphone. Vulnerabilities of modern PCs and smartphones are well known, and if you keep your private keys there (private key = your bitcoins) it’s just a matter of time before you’ll get hacked and lose everything.

A paper wallet may be secure, but only until you want to use your funds, requiring importing your private keys on your computer. And if you think a password encrypting your keys is enough, a malware is smart enough to wait for the inevitable decryption before sweeping your funds.

Hardware wallets are convenient, affordable, portable and backed up by a paper wallet allowing easy recovery in case of loss. If you have any significant amount of bitcoins, using a hardware wallet should be a no brainer.

Main features
  1. Cryptographic secrets protected by a secure chip
  2. Bitcoin and Ethereum support (Open Source apps)
  3. Confirmation of transactions on the embedded screen
  4. Built-in 4 digit PIN security lock
  5. Built-in onboarding (seed generation and recovery)
  6. BIP39 seed (12/18/24 words), easy backup and restoration
  7. Multi-apps support: FIDO U2F, GPG, SSH…
  8. USB connectivity
  9. Foldable and compact casing
  10. Compatible with Ledger Wallet Bitcoin Chrome application and Ledger Wallet Ethereum Chrome application
Useful? Please share and comment below. Next post, we'll be giving the step by step on how to set it up and use this cold wallet.

You can read more or purchase directly on this manufacturer's site: https://www.ledgerwallet.com/