Why you should have a Ledger Nano S or a Nano Blue?

aotearoa (67)in #curation • 6 years ago (edited)

Hello, good morning everyone

Today I'm going to talk about hardware wallets.

But... what is a hardware wallet?

A Hardware wallet is a hardware device that is capable of storing and make cryptocurrency transactions. They are usually multi-currency devices, and can store as much money as you want to in the safest way possible.

I'll talk about Ledger wallets (https://www.ledgerwallet.com/r/f599). Please find below pictures and further explanation on how those wallets work!

Ledger Nano S Pictures:

ledger nano s.png

ledger nano s1.png

ledger nano s2.png

ledger nano s3.png

ledger nano s4.png

Ledger Blue's pictures:

ledger blue.png

ledger blue1.png

ledger blue2.png

ledger blue3.png

ledger blue4.png

Images Source: Ledger's website (see link above)

Ledger is worldwide known as one of the best and most affordable wallets in the market. It costs atound $100 a piece (shipping included), and it is capable of storing cryptos in a safe way.

But how secure is Ledger?

Due to its cryptography it's almost impossible for a hacker to steal your #bitcoins. Let's see how it works.

Well ledger has a Chrome Brower extension called Ledger Manager, which helps people to install and uninstall the various apps in the hardware wallet.

All the keys inside the Ledger are kept private (not even Ledger's team and support have access to them).

So it's really important that you store your private keys safely (preferrably offline (written on a piece of paper), so no one will be able to have access to your wallets.

Additionally all the transactions require the hardware to be completed, and confirmations prior to sending cryptos is made using the hardware (not the software). This way, no one can change your wallet's account balance without having phisically your hardware.

Also as a protective measure, when its customers need to retrieve (or restore account balances) they must have a set of 32 words that are shown to the owner on the first time the wallet is set up. Ledger provides a card where those words must be written down, and this piece of paper must be kept in a secure place.

So as you can see, with those features, it's almost impossible for hackers to steal your money, because even if you plug the wallet in an infected machine, the hacker would still need to have your hardware wallet with them to be able to steal your coins from you.

Please let me know if you have any further questions (or comments) on this topic.

Why you should have a Ledger Nano S or a Nano Blue?

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