In today’s world of digital currency, Bitcoin and cryptocurrency are ruling over the internet and investors, of course. Inflation is the leading cause of the rapid decline in currencies. When it comes to buying Bitcoin or crypto, investors start worrying about storing them.
Speaking of storing digital currencies, there are two options: hardware wallets and software wallets. Software wallets are easy to use and manage. All you need is to install the software. However, software wallets are not that secure.
This helps us understand why hardware wallets are worth the money. Hardware wallets are designed to provide you with security, usability, and high-end privacy. These advanced wallets keep your Bitcoin safe by generating safe keys for your Bitcoin offline.
In a market full of dozens of hardware wallets, it takes time to find the best one. DON’T FRET! We have got you covered. After testing different hardware wallets, we have concluded that Ledger is the safest option.
We hope by the end of this article, you will know why you should invest in this cold wallet.
So, without further ado, let’s get into it:
Table of Contents
What is Ledger – Overview
Ledger is an offline storage wallet. This advanced wallet checks your private keys without using any third party. It is a blend of privacy and security, which provides immunity from physical and online hackers.
Ledger, one of the biggest cold wallet providers, has made its way in the hardware wallet market with its years of safe and secure services. This multicurrency wallet comes with two hardware wallets, i.e. Ledger Nano X and Ledger Nano S.
How Many Products Does Ledger Offer?
Nowadays, investors worldwide trust Ledger for transferring their digital currency to offline devices for good reason. These reputable cold wallets have passed all security standards and are certified. These smart chips are useful enough to keep your digital assets in one place.
Ledger offers three highly reputable products, which are discussed below:
Although Ledger Stax has yet to be released, the manufacturing company claims it to be more valuable and portable than the previous ones. This premium cryptocurrency cold wallet provides a large display with cutting-edge technology.
Users looking for advanced NFT support and unmatched mobile integration would love Ledger Stax.
Speaking of the size, the Ledger Stax chip is more prominent in size than the Nano. A larger display lets you enjoy a better interface and makes transactions easier.
Ledger Nano S Plus
This hardware wallet is available in a portable USB-size chip. Connecting these portable devices to your laptop or computer lets you access your digital currencies. This affordable cold wallet can hold over a thousand cryptocurrencies without losing your private key.
It offers a smaller display screen than Ledger Stax. You can keep your private keys on this NFT-friendly chip as it uses secure element components.
You can get the Nano S Plus for $79, equipped with a micro USB-B connector. To link this large-scale installation device to a Mobile phone, you must shell out an additional $17.99 for an OTG kit.
This entry-level wallet provides services to corporate and banking customers who need a safe place to keep their money.
Ledger Nano X
This EAL 5+ certified Secure Element excels in features from other hardware wallets in many ways. Nano X has better battery timing, which makes you do your task tension-free. You can manage your digital wallet effortlessly by using its 24-word recovery phase.
In case you lose your device, its PIN protection and 24-hour recovery phase will ensure you restore your wallet as soon as possible.
Nano X resembles Ledger Stax in multiple ways and offers almost similar features. It’s just that Nano X is designed to provide high-notch compatibility, peace of mind, set-up and E-Ink-based factor.
Ledger Nano X costs more than 100 dollars, which is expensive for a beginner. However, it’s a good option if you are a frequent trader with many assets. You are getting a more prominent display and buttons for $1500, which makes device navigation a breeze.
Why Ledger Is One of The Best Crypto Hardware Wallets – The Best Features:
Here are the most prominent features Ledger offers:
Ledger Live – Web3 Application for Self-custodians:
Ledger features an advanced smartphone app that helps users enjoy transactions and other services without compromising the security of private keys. Moreover, the Ledger Live app offers a Buy Crypto feature, enabling investors to purchase over 80 coins.
Apart from buying crypto, you can make informed crypto purchases. To help you get the best deal, the Live app lets you compare prices from competitors like Coinify, Moonopay, etc., without switching platforms. Best of all, the Buy feature offers you full self-custody of your crypto assets.
This One-App solution lets users sell, manage, buy, and stalk securely in one place. What else do you want when you can manage your on and off currencies in one click? This one-click solution is available on Android, Linux, Mac OS, Windows, and iOS.
This beautiful blend of Ledger cold wallet and Live app makes Ledger the most trustworthy platform for storing assets.
High Security – Safety From Remote And Physical Attackers:
With Ledger, users can be reassured that their wallets are under robust defence against hackers and attackers. With its rigorous testing, innovative techniques, and development of helpful security models, the Secure Element chip keeps your private keys private.
Notably, the cold wallet supports a proprietary operating system called BOLOS. This IS reduces the risk of cyber crimes to zero with its 24-word recovery phrase. Apart from the four-digit PIN code, this unique recovery phase adds extra protection against unauthorised access.
This mini chip is the one you see on your passport or credit card since Ledger is the only crypto hardware wallet company using Secure Element.
Bluetooth Connectivity – Perform Transaction Directly From Smartphone:
Through end-to-end encrypted Bluetooth connectivity, you can link your electronic wallet with your mobile device to perform purchases and tasks directly from your device. You need not worry about your cryptocurrency in case of losing your phone. The smartphone application on Android and iOS uses strict Face ID and passcode.
All you need to do is pair your Ledger with the Bluetooth on your cell phone by following a few steps.
After CoolBitX, Ledger has become an early adopter of Bluetooth technology for linking hardware wallets to smartphones for good reason. It’s no secret that Ledger had some growing pains in the beginning, but the recent versions of Ledger have addressed these issues.
If you are satisfied with Bluetooth connectivity, you can disconnect it and use your USB conveniently.
Support Multiple Currencies – Manage Over 5000 Tokens With Ledger
The good news for those curious about what assets Ledger supports is that Ledger devices are compatible with more than 5,000 cryptocurrencies, including BTC, ETH, LTC, ADA, XLM), DOGE, and NFTs from hundreds of blockchains.
The Nano S Plus and Nano X are compatible with several tokens like ERC20, ERC721, TRC20, TRC10, BEP2, and SOL.
Compared to the native support through Ledger Live, the number of coins and NFTs that the Ledger Nano X and Nano S can store is much smaller. These two reputed wallets support around 500 currencies, all of which are native to the Ethereum and Polygon chains.
It’s impossible to waste money with a Ledger hardware wallet, which prioritises encryption and supports hundreds of different cryptocurrencies. Get your hands on a crypto metal wallet to keep your crypto seed phrase safe from theft or loss and boost the safety of your electronic assets.
Customer Support – Get In Touch With the Team Over the Internet
Unsurprisingly, we get in trouble when we use a new platform. In that case, we look for help. While using an advanced platform like Ledger, users require timely customer support.
We had a great experience with the platform Help Center. Ledger’s clients may get in touch with the company’s support staff via email, the Customer Support Center, and online platforms like Facebook, etc.
In addition to Twitter, Facebook, Reddit, TikTok, YouTube, and Instagram, Ledger also has a thriving community of supporters on a number of other popular social networking websites. Staff is available 24/7 to help you out.
How To Set Up Your Ledger:
Ledger is a highly reputed crypto wallet that collaborates with its iOS and Android apps. The Ledger Live makes transactions and cancellations easy. To enjoy the perks of Ledger Live, all you need is the app link from the website. Get your official link and download the app on your device.
Afterwards, follow the below-mentioned steps to set up your Ledger.
Step 1: Set Up As A New Device
Connect your mini USB-shaped device to your desktop to set up the device. You will see Welcome to Ledger on the screen after connecting. Then they will provide you with their contact information by saying to contact us if you have any queries.
For your information, the right and left buttons on the USB are for forward and backward functions, respectively. Use these buttons for navigating instructions on your display screen.
Once you press both buttons together, you will see Setup new device on the screen.
Step 2: Choose Pin Code
Ledger offers four to eight-digit PIN codes to unlock your wallet. If you press right or left, you can select a digit. Enter your desired number by pressing both buttons simultaneously.
Once you are done entering your 4- to 8-digit code, press the checkmark and both buttons. This step confirms your security PIN code.
Step 3: Enter Your 24-Word Recovery Phrase:
Ledger offers a secure 24-word backup for your private keys in case you lose your device. After entering the PIN code, you will see the recovery phrase on your display screen.
Keep an eye on the screen, as the recovery phase will not reappear. In order to pen down the 24-word phrase, use the blank recovery sheet available. Without further ado, press both buttons when you see write down your recovery phrase on the screen. Copy the first word and place it on the recovery sheer.
Make sure you copied it correctly. Repeat the steps until you write down 24 words in the desired position.
PROS and CONS Of Ledger – Is It Worth Buying
Even if Ledger is a well-known and respected brand in the industry for hardware wallets, there are still dangers and worries connected to the company’s products.
Let’s have a look at the advantages and disadvantages of the product:
PROS – Why You Should Buy:
- Ledger is compatible with 64-bit desktop computers, macOS Big Sur, Windows 10 / 11, and smartphones.
- The latest version offers a touchscreen to perform transactions and navigate your coins on a bigger HD screen with one touch.
- You can check your crypto balance in real-time.
- It offers massive security with its four to eight-digit PIN Code.
- If someone steals your Ledger, your private keys remain secure with its 24-word recovery phrase.
- Ledger Live has both NFT control and connection to DeFi as part of its core functionality. This advanced feature makes it simple for users to link with trading platforms and decentralised applications (d-apps) without compromising its hard storage.
- The Nano X variant has built-in Bluetooth connectivity, allowing users to connect to the Ledger Live mobile app.
CONS – Why You Should Not Buy
- You cannot connect this USB divide to your Chromebook
- This is not a good choice for mining
- Navigation gets complicated due to buttons on the device
Best Ledger Alternatives 2023:
If you still need clarification about Ledger, then DON’T FRET! Our best alternative recommendations have got you covered. Let’s have a look at it:
- Trezor – open source and community-centric crypto hardware wallet with touch screen feature
- Ellipal Titan – supports over 10000 tokens across 46 different blockchains with QR code security features.
- Safepal S1 – supported by Binance Labs, a cheap and easy-to-use hardware wallet that requires a PIN and a secure QR-code-based technique.
Conclusion – Final Verdict
After using it and reviewing feedback on reputable websites, we have concluded that the device’s safety features are worth your time and money.
It doesn’t matter whether you’re just starting in the world of cryptocurrencies or you’ve been doing it for a while: the Ledger Nano X, Nano S, and Nano S Plus are ideal hardware wallets for anyone with a diversified crypto portfolio. Big crypto Investors concerned about keeping their funds safe should trust this sleek device for managing assets.
Even though the wallet can only support up to 500 cryptocurrency apps simultaneously, you may still expand the number of cryptocurrencies by managing various coins inside Ledge Live on your smartphone. If you delete your application from your device to make room for another one, the money will be safe and secure in the digital wallet.
This powerhouse is an excellent purchase option due to its many benefits, including a high level of security, a premium design, NFT management, integrations, Bluetooth connectivity, and a vast display.