Hardware Wallet

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The Ledger Nano S is one of the products that the French company Ledger produces and supplies. They have recently passed the 1 million sold pieces.
The company quickly provides support for new crypto currencies through the provision of various wallet applications. They also regularly publish new crypto currency apps. The Nano S also works together with various other wallet services, often requiring an OTG adapter, examples are: Myetherwallet, EtherDelta, Electrum, BitGo on Ledger's website, the necessary instructions for using them can be found.

• The Ledger hardware wallet checks the integrity of the software on the device every time the wallet is switched on via a heavily encrypted chip. The level of security is the same as that used by banks, for example, to provide their security with digital data. This way it can be ensured that all hardware wallets from Ledger are protected against possible hack attacks even to be used on infected computers.
• With every initial use of a new NANO S removed from the packaging, it asks whether the user wants to create the wallet as a new wallet or whether a backup wallet of an already used private key needs to be installed.
• In case of a new installation, a PIN code must first be created by the user to verify that the user is actually the owner, followed by 24 unique random words in the display that must be noted on the recovery sheet, the so-called private key.
• There is always a chance that you will lose your Ledger wallet. With the private key consisting of the 24 words you can restore the wallet at any time. These 24 words are therefore very important and must be stored safely. You therefore write them on the supplied recovery sheet, and secure them securely. It is best to cut the code in half and store both codes in different secured locations and merge them only if they are actually needed.
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The hardware wallet contains a small OLED display. To use the NANO S you need to use Ledger software on a computer. Ledger provides 4 standaard applications (and are working currently on a all for one software version), which can be found through their website:
  • The Ledger Manager Chrome app. is used to install or uninstall the applications on the NANO S.
  • The Ledger Bitcoin Chrome app. to manage the Bitcoin wallet and also acts as a start application for a number of altcoin wallets.

  • The Ledger Ethereum Chrome app. is used to support Ethereum (ETH) and Ethereum Classic (ETC). ERC20 token derivatives of the Ethereum blockchain can almost all be used with the NANO S as security and verification hardware, more information available on request.

  • The Ledger Ripple wallet. This is an installation package program because Ripple does not have a public blockchain but works with a closed so-called private chain.


Ledger Chrome Web Apps

COINDER has installed and tested all available wallet apps for the operation, the XLM Lumen wallet is a different approach and this can be explained on request, we recommend the use of MyEtherWallet. The transactions have to be confirmed on the Nano S by means of the two buttons on the top.

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In the Ledger Manager app. you can see which cryptocurrencies you can store on your Nano S hardware wallet. By connecting via the included cable, you can click on the download icon for a specific application in the Ledger Manager and the relevant wallet app is installed or deleted directly on the Ledger Nano S. The part with which you can open the wallet and perform verification can then be accessed via the chrome apps or dedicated software and sometimes the online wallet version of a crypto coin. The wallet should actually be launched in cooperation with the software or application and the app installed on the NANO S.


Currently, the Ledger Nano S supports approximately 25 different cryptocurrencies: Bitcoin, Bitcoin Cash, Bitcoin Gold, Dash, Dogecoin, Digibyte , Ethereum, Ethereum Classic, Komodo, Litecoin, Stratis, Stellar, Stealthcoin, Zcash, Ripple, PoSW, Ark, Ubiq, Expanse, PIVX, Vertcoin, Viacoin and Qtum. In addition, via other applications and collaboration links, almost all ERC20 tokens, derivatives from Ethereum. 


The opened wallet apps are clear, as is the display of the balance that can be set in various fiat currencies and of course the number of coins in the wallet. Furthermore, an overview of all transactions and the standard options for sending and receiving payments. With the option "received" in the wallet a public reception address will immediately appear called a public code, which can be copied as well as a QR code that appears. 


In the Ledger Bitcoin wallet application, the details of the transaction are easily displayed and this gives immediate what the transaction costs will be for the payment, these can be adjusted as desired if you choose higher speed and if you have the time lower fee's pay. As soon as the transaction has been sent, it appears in the overview of the wallet.

 

To buy Ledger Nano S? COINDER has the wallet in stock order the NANO S easily via our webshop!