About Ledger
Eight experts having backgrounds in cryptocurrencies, entrepreneurship, and embedded security launched Ledger back in 2014. Ledger, headquartered in Paris, France, has offices in San Francisco and California in the US. The rising interest in cryptocurrencies has piqued the interest of threat actors even more, who are continually on the lookout to get their hands on your crypto assets. Using a hardware wallet is the safest way to keep your crypto portfolio safe if you plan to hold it long-term. Ledger offers state-of-the-art hardware wallets, suitable for short-term and long-term holding, and has tie-ups with renowned partners to provide investors with a comprehensive platform of crypto-related services, including but not limited to buying, selling, and lending crypto.
QUICK FACT
One of the most secure hardware crypto wallets and a host of other services
Ledger Nano S and Ledger Nano X
Ledger offers two hardware wallets:
Ledger Nano S
Ledger introduced the Ledger Nano S back in 2016, and it was called the original hardware wallet. Today, it retails at $59 and can be used to secure and manage assets or buy cryptocurrency. It integrates a certified secure chip, allowing users to store between 3 to 30 applications.
Ledger Nano X
Introduced in 2019, the Ledger Nano X retails at $119 today and, like its cousin, can be used for buying crypto or securing and managing assets. It also integrates a certified secure chip but can allow users to store up to 100 applications. Additionally, it comes with a Bluetooth connection allowing for better accessibility to users.
Hardware and Design
Both Ledger wallets come with an easy-to-use interface. The two navigation buttons on the wallets make operation easy, and there is a display screen that users can use to confirm transactions. The navigation buttons help access the menu, enter PIN code, select apps, and input backup passphrases.
For those who recently bought the device, Ledger OS walks them through the steps they need to set up their device. The stainless-steel cover surrounding the device provides them with durability and ruggedness. The wallets also come with a micro-USB cable which users can use to plug into the computer.
Ledger Security and Hacking Protection
Ledger boasts of using the highest security standards to make the wallets hackproof. For starters, both the hardware wallets come with a certified chip designed to host cryptographic data and withstand the most sophisticated attacks securely. Going a step further, Ledger has created a custom OS (BOLOS) for its wallets, ensuring the hardware devices are not susceptible to malicious attacks. The OS also isolates the applications from one another. A hacker will need your PIN to access your wallet, and if he enters it incorrectly three times, the wallet will go into a timed lockout. After this, you will have to enter your backup passphrase for accessing your wallet.
Ledger Pricing
Compared to most other crypto wallets, Ledger offers the best value for money. Ledger wallets, accessories and bundles are priced as follows:
• Ledger Nano S: $59
• Ledger Nano X: $119
• Ledger Backup Pack: $149
• Ledger Family Pack S: $139
• Ledger Family Pack X: $299
• Ledger OTG Kit: $17.99
Supported Cryptocurrencies by Ledger
Ledger devices are popular because they support an extensive range of cryptocurrencies among hardware wallets. Ledger wallets support over 1500 different digital assets, including popular coins like:
• Bitcoin
• Ethereum and all ERC-20 tokens
• Litecoin
• Ripple (XRP)
• TRON
• EOS
• Bitcoin Cash
• Monero
• NEO
• Vechain
• Zcash and many others.
Other Products Offered by Ledger
As mentioned earlier, Ledger offers several other crypto-related solutions and services besides their hardware wallet. These include:
Ledger Vault for Businesses
The Ledger Vault platform offers one of the most flexible and secure ways for crypto banks, custodians, exchanges, and professional investors to manage and store their private keys. Ledger believes humans are best suited for defining and enforcing the rules using secure hardware. They isolate, encrypt and store the private keys in a Hardware Security Module, which day-to-day operators do not handle. Custom governance rules strictly control the key usage for signature. Hence, businesses can broadcast multiple transactions and approve the governance within minutes through Vault. Ledger’s motto is – “Your workflows, your keys, your business, your rules!”
Ledger Live
It is the proprietary application that pairs up with the Ledger hardware wallet to manage your crypto assets. It is available on both Google Play and App Store. Users can also download the Ledger desktop app for macOS, Windows, and Linux operating systems. Ledger Live offers a simple interface for managing all your transactions and monitoring your real-time balance. The application provides features like staking, which lets users earn passive income on select cryptocurrency assets. Other products offered by Ledger can be checked here.
Conclusion
Overall, Ledger offers highly secure and reliable crypto wallets which combine a proprietary OS and several security features designed to protect your crypto assets. You can also use Ledger Live to grow your crypto assets by securely stacking cryptocurrencies like Algorand, Tezos, and Cosmos or lend your digital assets to generate income in the form of interest. Conclusively, Ledger has a secure offering for everyone – personal and business use and offers an excellent value for money.