The Ledger Nano s can simply be described as a hardware wallet that helps you secure cryptocurrency in what is probably the safest way available these days. This nifty little piece of hardware that has everyone in the crypto-verse talking, is one of the latest innovative steps that have been taken by crypto enthusiasts to address the pertinent issue that is security and it’s effect to cryptocurrency.
Ledger is a sophisticated team of over 100 professionals and was founded in 2014. The company is focused on providing tech solutions to cryptocurrency and by extension, blockchain related problems. The Ledger Hardware wallet is a product of immense value and importance to cryptocurrency holders and represents a step in the right direction for the world of cryptocurrency.
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There are many honest reasons why individuals own cryptocurrency; it could be to have an alternate store of value, the freedom, and liberty to control your earnings or maybe the extra security that comes from knowing you’re the only one with access to your funds as compared to depending on those sneaky banks. The latter reasons, in particular, necessitate the importance of the Ledger Nano S. This hardware wallet, therefore provides a very healthy alternative to wallets in exchanges and other online based wallets. Here is how to transfers bitcoin to your Ledger Nano s;
Are there Other Hardware Wallets
Currently available in the market are the The Ledger Nano S, Ledger Nano X and the hardware wallets designed by Trezor company. As far as brands go, trezor is a relatively bigger brand and that accounts for why the hardware wallets designed by the company is more expensive, functionalities are basically the same.
Advantages
- The Ledger Nano s is compact and sturdy.
- It is a lot safer than using wallets created on exchanges and is less susceptible to loss of assets that could occur as a result of the sudden closure of the said exchange.
- The hardware wallet does not need to be online before it can receive bitcoin or any other currency. This means that you are less susceptible to phishing and other malicious acts
- There’s also the underlying improved sense of belonging that comes from wielding your very own hardware wallet. You sort of get the feeling that you’re literally moving around with your assets safe and sound.
- You can conduct transactions on the go, in a simplified, safe and secure manner.
- It is a lot cheaper than the alternatives that give you basically the same functions
- It also supports more coins than the alternative in the market.
Disadvantages
- Due to its compactness, it can easily be misplaced or stolen.
- You can be hacked by someone close to you if you get too careless.
- Requires additional software support to use a host of cryptocurrencies.
Conclusion
Hardware wallets represent the future of cryptocurrency. Your assets can now go wherever you go, safely and secured, and it comes at a fair price to all, deliverable to any location. It is highly recommended that everyone with crypto asset get themselves at some point and have one less thing to worry about.
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