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Before starting to talk about this wonder of cryptographic technology, the Ledger Nano S, it is important to know the concept of wallet in the world of cryptocurrencies. A wallet is nothing more than the place or device where crypto assets are stored. There are two types of wallets, the hot ones, those that are constantly online, that is, connected 24 hours a day, and the cold ones are those that are disconnected from the Internet and the computer and, of course, they offer greater security for the protection of your cryptos.
Within the category of cold wallets are hardware wallets. And this is where one of the best of them appears called Ledger Nano S. These offer maximum protection of your active crypto by jealously guarding your private key.
Ledger has been a company that since its inception in 2014, has been dedicated to providing solutions to provide security and protection to cryptocurrencies. Its line of hardware wallets have been sold in more than 165 countries and surpassing one million units.
Ledger Nano S in action
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Obviously, it's hard to talk about a device I've never used (maybe because I don't have the financial means to buy it). I would probably think that why would I spend money on a Ledger Nano S device if I can have my cryptocurrencies in a software wallet inside my PC or simply inside an exchange.
But I finally understood when by chance I received an email from an airdrop indicating that I had won 0.25 BTC. Unfortunately the news was false, however, I thought where would I keep $2500? In an exchange? Many of them are hacked daily; on my computer? Most wallet applications have bugs or errors, which become entries for hackers. I would be constantly nervous and hard to sleep, since most of the time, I would be watching my hot wallets.
Then, I realized that it is better to have a device specially designed for this task, backed by a company that is an expert in cryptocurrency security and that gives me the confidence to have my cryptocurrency investment safe.
Apparently, the Ledger Nano S is very simple to use. When you connect it to your personal computer, you need to configure a 5 number pin, which represents the access key to the device. After this, like any other wallet, you are assigned 24 words corresponding to the seed or private key of your cryptocurrency.
This key must be kept in a safe place. If it were to fall into other hands, they would have control of your cryptocurrencies. It also serves for the case that in some way you've damaged the device Ledger Nano S, or you are a victim of theft, you can recover all your cryptocurrencies with this key.
Basically, it is very simple to use, as it only has two little buttons. Once configured, it is necessary to use the software called Ledger Live in order to make transactions, deposits and withdrawals. And obviously, know the addresses of your crypto assets.
In the following video, you can see how a Ledger Nano S works
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Cryptocurrencies allowed on the Ledger Nano S
The Ledger Nano S accepts over 1000 tokens, among these:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Monero (XMR)
- Ripple (XRP)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Zcash (ZEX)
- Dash (DASH)
- Stellar (XLM)
- Tether (USDT)
- Cardano (ADA)
Technical specifications
In order not to complicate things with technical terminologies, I will say that the Ledger Nano S device comes with a USB cable to connect it to the computer. Its dimensions are 56.95mm x 17.4mm x 9.1mm, so it is quite small and comfortable to carry in your pocket. It has a stainless steel cover and does not require batteries to operate.
In addition, it comes in 5 different attractive colors and a transparent version for those curious who want to see where the tokens are stored 😉
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