How to Easily Secure Your Favorite Cryptos
Hardware wallets are great, they're my favorite way to store crypto because they match security with ease of use.
With a secure pin code and a physical device, this makes it all the more difficult for hackers to get a hold of your valuable investment.
There are a few different options these days for hardware wallets and they all do more or less the same thing, they give you the ability to move your cryptos onto a device that cannot itself access to the internet.
integrates the abilities of ShapeShift so that you can make trades right on your device so you don't have to move them onto an exchange.
offers a wide range of support for different cryptocurrencies that you can store on it. (Although you are limited to storing only 5 out of the total number of options on each Ledger Nano S, you can always store an unlimited number of each crypto on it.)
If you're considering purchasing a Ledger Nano S, Here is a Link so you can browse through their website and see all that they have to offer.
They make for a GREAT Christmas Gift for your crypto-loving loved ones ;)
If you have already purchased a Ledger Nano S, here are the steps to successfully configure it.
Best practices include:
- DO NOT purchase ANY hardware wallet from Amazon.com. You don't know who had it before you, or if it's been tampered with. It's always better to purchase directly from the official, reputable source.
- Choose an 8 digit pin code that you do not use for any other website or bank account.
- Write down your pass phrase, do NOT type it and save it on your computer or any device that has internet access.
- Write down your passphrase correctly and in the correct order, this is what will enable you to still gain access to your coins if your device ever gets lost or damaged.
- DON'T LOSE YOUR PASSPHRASE OR FORGET YOUR PIN CODE!
Check out this video for helpful tips on how you can take full advantage of this hardware wallet and all of the cryptos you can store on it.
You can also find me on:
Twitter: @blockchainchick
Instagram: @hheidiann
Thinking about purchasing a Ledger Nano Hardware Wallet? Browse their official website
Fantastic advice, Heidi. My wife and I have learned so much from your wallet reporting. What you are doing is saving so many people hundreds (if not more) hours in research time to point us in the right direction. Of course, we do have to uphold our due diligence, but your nod in the general direction of things has proven invaluable time and time again. Thank you!
I'm very happy to know that I'm helping you out. Due diligence is so good for not only making sure your sources measure up, but it's so good for deeper learning. You'll always find out other angles and perspectives too, great way to sharpen your mind. :)
@heiditravels you need to re-research the nano s ledger, you are providing incorrect information esp with respect to it's ability to only hold 5 cryptocurrencies, it is not quite right! you can store any number of their supported cryptocurrencies, using the ledger manager you can install or remove apps. if you remove an app and later re-install the app, if you had any transactions saved all of your transactions are viewable through the interface because they are "off-chain" references only.
it's just a matter of managing the interface "view" by installing or removing which 5 or 6 (depending on app size) apps you wish to view. So, you are not restricted to storing 5 cryptocurrencies, the restriction is that you must remove an app (which keeps all transactions on device) you then install, or perhaps configure would be a better choice of words, the desired views you wish to see.
Additionally, contrary to popular opinion, if you are buying an OEM Ledger Nano S second hand, provided you have the 24 unique word reset chart, you can easily reset and initialise the Ledger Nano S device and then secure it by your very own 8 digit numeric password.
It just means that if a person happens to locate your device and still has the 24 words recorded somewhere then they can reset your device. If you're purchasing off someone in another country the liklihood of this occurring is pretty slim if the device is permanently located in a "remote" location.
Alternatively if someone can crack your 8 digit password with the 10^8 potential combinations, combined with the restrictions of the clunky Nano S interface which slows down data entry, you may offspring would most likely be dead and buried by the time someone comes up with the correct password combination.
Additionally, the ability to "trade off your device" is not limited to KeepKey.
haha thats mad. so all coins are still on wallet and its just that i need to reinstall the app to view them?
Thanks! Im going to check it out. i got my nano s but yet had the chance to transfer from trezor
Please read and support for my top cryptocurrency picks for December:
https://steemit.com/bitcoin/@zen-analyst/cryptozen-s-top-picks-for-december
About an old online wallet that gives you daily BTC and 15 other cryptos:
https://steemit.com/free/@zen-analyst/qoinpro-free-bitcoin-up-to-16-different-free-cryptocurrencies
Happy investing
CryptoZen
Hi Heidi! I am @joechiappetta 's wife, and yes, we are so grateful for your concise and educational reporting. Thank you :)
You are definitely one of the best one here to guide everyone who is new to cryptocurrency. Be it investing in ICO's or Analyzing coins to invest in or how to use hardware wallets and keep your coins safe. Keep up the good work. What will your next video be about?
Newest post is about CIVIC :) Just went up.
nice arms muscle, please share your workout method ;)
I've been considering this for a while now... ;)
Agreed!
What arms?
Ok, I definitely have arms...
I think you are very interesting. I'm gonna follow you, follow you where-ever you may go. There will be no ocean to deep ;) Besos from me and my dog #lexi. And indeed, you look fit, just saying...
I thought those were strings hanging from your shirt....but they were your arms...
I was just joking from the previous comment and I will marry you if you are interested in coming to the mainland (probably not). I am good looking and in the military but you must produce a boy. Great video though. I own a Keepkey and I'll say it better start supporting ERC20 tokens or Im getting a Trezor. Other than that its pretty sick.
Very informative, I personally like the Ledger management of the cryptos especially because it supports one of my favorite, Vertcoin. 😁
Ledger Nano is awesome
How would you compare the Ledger Nano to Trezor? I’m torn between the two on what to get this holiday season. Thanks @heiditravels!
Ledger Nano S is the best!
which one give the most protections @heiditravels? keepkeys or ledger nano s?thx
I don't understand how can you keep yourself so informed always. I wish I had the same time/energy as you do! I also think that hardware backup of your keys is always mandatory, at least thatI know :))
Thank you @heiditravels for opening-up to reveal the dead truth about using Hardware Wallets to safeguard cryptocurrencies. This will help the newbies as well as a great measure towards hardware wallet awareness.
If you can, let's connect on Facebook !