About Ledger Wallet
Ledger is a hardware wallet that offers a secure way to store crypto assets. Like other hardware wallets, it is used for holding the private keys without exposing them to potentially compromised devices or Internet. Ledger stores private keys offline and provides them only during the transactions. Ledger wallets support more than 1,000 coins and tokens.
The project was launched in 2014 by a team of experts with aims to provide the utmost security for the crypto assets. The initial version of the hardware wallet is called Ledger Nano S and in 2019 they launched an advanced version, Ledger Nano X. They are priced $59 and $119 respectively. Ledger Blue is a premium wallet with more emphasis on the user experience and state of the art security.
Ledger lets the user manage, send and receive crypto assets in a safe environment. Ledger Nano S can be set up by connecting with a computer, the recent advanced version, Ledger Nano X can be configured simply using a smartphone connecting via Bluetooth. All the Ledger devices can be accessed using the Ledger Live application. It is available for major computer operating systems such as Windows, Mac OS, and Linux. There is also a smartphone app for both Android and iOS for managing crypto on-the-go. Also, Ledger is supported by various third-party hot wallets for managing the assets.
Personal information such as username or email-id is not necessary to set up the wallet and such details are not collected by Ledger. Additionally, users have the opportunity to create multiple addresses and can use a unique address for each transaction. This makes it almost impossible to link the transactions to the user and facilitates greater anonymity.
Ledger intends to provide the most secure way to store and manage crypto assets. Ledger has physical buttons that a user is required to press in order to confirm the payment making it more difficult for the hackers to steal your crypto. During the initial setup of the devices, a 4-digit PIN has to be created and is used to access the wallet for managing.
Furthermore, Ledger is the first and only wallet to be independently certified for its security by the ANSSI, the French cybersecurity agency. The wallet also has its own Blockchain Open Ledger Operating System (BOLOS) to protect the device against attacks and isolate from the rest. User is prompted to jot down the 24-word passphrase that can be used to recover the wallet with funds in the event of loss or stolen wallet.
With the best in class security features and an affordable price, Ledger Nano S is the hardware wallet of choice for crypto investors. The latest Ledger Nano X is also faring well with its mobility and robust security for managing crypto assets. All in all, Ledger offers a small and compact hardware wallet that delivers managing crypto on-the-go without trading off the security.