3 things you should know before you buy a Ledger Nano S
Hey everyone
To be clear I like the Ledger Nano S but there are things I did not know about it when I bought it. Here are my top 3:
Storage
It sounds good that you can store your cryptos on a hardware wallet, but you know the storage on the Ledger Nano S is way too small to have use all wallets? Actually, I can use only for 4 wallets. Unable to install application. So, I`ve to choose between;
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- BTC
- BCH
- ETH & ERC20 Tokens
- DASH
- LTC
- STRAT
- DOGE
- ZEC
- KMD
- XRP
- ARK
- PoSW
For me it is a hard decision. Before you buy one you should know it. The Ledger Nano S supports also Fido U2F & Windows Hello (both are authentication tools). It was for me possible to have 4 Wallets installed and one authentication tool.
Apps
The next thing I do not like on the ledger Nano S are the bunch of plugins and apps. Just an example if I want to use the Bitcoin, Bitcoin Cash and Litecoin wallet I have a chrome Plug in " Ledger Wallet Bitcoin". Names like " Ledger wallet BTC, BCH and LTC" would be more helpful. For Ethereum and Ethereum Classic is another wallet Plug in " Ledger wallet Ethereum". You can also use myetherwallet.com. For Ripple is there a windows application. I am a big fan of the simple user interface but I wish there would be one plugin or application for every supported coin this would be awesome.
Private Key
Where are my Private keys?
I know there is a way to get the private keys from Ethereum but there is no way for the other coins. I ‘would like to have the private key. Who knows what happens when there will be a network attack ? Or maybe there would be a terrorist in Paris again and, by random, explode there a bomb. OK I know this is far away from the topic.
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STOPTotally agree with your remarks about the Ledger Nano S regarding the apps. I use it for MEW, Ripple, Stellar and NEO, and all run with different apps/links, for which the Ledger only works as a log-in device. Nevertheless, I like the opportunities this cold-wallet offers in terms of personalization. For the "coins", I do prefer my Trezor, which provides me informations about my accounts with only one Chrome extension.