Ledger CryptoCurrency Wallet.
Ledger is a company many know already. The team of eight behind the French startup are highly qualified in security, cryptocurrency, and entrepreneurship. With the success of the TREZOR, they knew there was room for more hardware wallets and quickly launched products ranging from the ledger blue, an extremely secure wallet, aimed at enterprise level users, to the tiny, extremely affordable Ledger HW.1. There is a wallet for nearly every level of user. Ledger grew quickly from being the number 2 in hardware wallets to number one with the fan favorite Nano and Nano S, boasting a very affordable price of ~$65.
As we know, there are scammers and just all around nasty people out there out to steal your coins. Ledger aims to put a stop to them while giving you full control over your cryptocurrencies. They currently support a large number of altcoins and the list is growing larger every day. While the Ledger firmware isn't open source like that of other competitors on the market, they still have plenty of content and apps that you can integrate with their devices. Let's take a look at some of the most popular ledger wallets out there today.
The Mack Daddy of hardware wallets, it's one of the most expensive wallets on the market today, it costs ~$270, is it worth it? In short, yes. The Large touch screen of the blue makes it extremely easy to use and manage transactions, plus it just makes it look incredibly sleek. The architecture of the blue makes it possible to run multiple apps on top of the firmware while still in isolation. It is extremely flexible and supports multiple currencies making it very ideal for enterprise level usage, which makes sense, given it's larger price tag. The Ledger Blue comes enabled with Bluetooth and USB, what makes it especially useful though is the battery. Users can bring their wallet with them on the go and make transactions by connecting to their smartphone. You can create a pin during set up for more secure transactions and create a recovery using a 12, 18, or 24-word recovery passphrase and easily restore to any Ledger device or comparable wallet.
Ledger Nano S
The Nano S is the upgraded version of the Nano, now featuring a screen for added security, meaning you can use it on a computer that may even be infected with malware without any issues. The Nano is one of the most affordable, and also most popular hardware wallets on the market today. Much like theTREZOR, the Nano has physical buttons that must be pressed in order to confirm a transaction, this makes it so no hackers will be able to remotely access your coins and send them to themselves. In case that isn't enough the Nano also requires a pin at set up meaning if you misplace your Nano S and someone finds it, they won't be able to access your device, they could try but after 4 failed attempts the device wipes itself. Don't worry too much if that happens, Ledger makes it easy to recover your key, just like the Blue, users set up a 24-word passphrase which can be used to recover your key onto another device.
To add on to how serious the company takes the security of the devices, they come with a tamper-evident seal, meaning if it is broken or looks weird, someone, somewhere, may have tampered with your device. The screen on the device is a major upgrade in security from the original Nano, as it adds an extra level of security during transactions, helping to avoid any phishing attacks. Ledger recommends doing the initial set up on a computer that is not connected to the internet to have a truly isolated environment for their cold wallet. This wallet also supports the use of ethereum and the smart contracts associated with it as well as all major altcoins.
One of the most affordable wallets on the market, the HW.1 is an extremely small device that plugs into a computers USB, the lack of screen means that during set up, in order to make sure the connection is secure it must be done on an offline computer or through a bootable operating system, like the Ledger Starter Dongle which runs its own offline, isolated operating system, just to set up the wallet securely. Current cost is ~$17, the HW.1 features a smart card, the same kind used in most financial transactions and comes with an additional security card, a physical card with random numbers and letters, that is used for two-factor authorization.
Ledger Supported Coins List
Ledger is one of the most popularhardware wallets on the market. Many potential buyers of a wallet are curious to know which coins are supported. Leder supports a large portion of mainstream cryptocurrencies including:
- Bitcoin (BTC)
- Bitcoin Cash
- Bitcoin Gold
- Ethereum/ Ethereum Classic
- Litecoin (LTC)
- Ripple (XRP)
It's safe to say Ledger is becoming a powerhouse of both physical and virtual security, with every new upgrade they are making it easier and more secure to deal with storing, sending, and receiving coins. The company offers multiple accessories and apps for their wallets, even offering a steel, waterproof and fire proof case to store your physical copy of your passphrase in.
Varies by Model