Ledger Wallet Review
Ledger is a company that provides security and infrastructure solutions for cryptocurrencies. A notable result of their work was hardware wallets Ledger. These wallets are used to store private keys offline, giving an extra layer of security to the most vulnerable part. Typically, private keys are stored online and become a target for theft and hacking. Hardware devices help ensure the security of important information on the USB driver. If a device is stolen or lost, users have a backup recovery phrase to access their assets.
Ledger wallets are multi-currency wallets. They support a huge number of coins and tokens, and their list is regularly expanding. For example, new Ledger models also help owners manage their NFTs.
Ledger is headquartered in Paris, France.
What types of Ledger wallets are there?
Ledger currently has three main products: Ledger Nano S, Ledger Nano X and Ledger Nano S Plus. These types of Ledger wallets provide different features:
- Receive and send cryptocurrency
- Run third-party apps
- Connect to the Ledger Live app on your mobile device via Bluetooth or cable.
However, each of them has a number of features. Let's take a closer look at them.
Ledger Nano X
This wallet was introduced in 2016. It can be used to buy, trade and exchange cryptocurrencies. It supports about 1800 cryptocurrencies. You can install up to 3 applications on your device. Uninstallation is also very simple. The device itself is small and easy to use. The main disadvantage of this wallet is that it connects only to Android and does not work with iOS.
Ledger Nano X
Ledger Nano X was introduced in 2019. Like its predecessor, this wallet can store and manage cryptocurrency assets. It also supports 1800 cryptocurrencies, but also allows you to manage NFT. Ledger Nano X allows users to install up to 100 apps, has an improved design, longer lasting battery and expanded memory. This wallet connects to both Android and iOS.
Ledger Nano S Plus
This model will go on sale in 2022. Ledger Nano S Plus has the same functionality as its predecessors, as well as expanded memory (allows you to install more than 100 applications simultaneously), a larger screen and a nicer design.
When and who created Ledger?
Ledger was launched in 2014 by eight experts: Pascal Gauthier, Ian Rogers, Alexandre Blanc, Matt Johnson, Charles Guillemet, Antoine Thibault, Jean-Michel Payon and Quentin Ricomard. They combined their experience to create an innovative project. The Ledger team now has employees all over the world.
Ledger CEO is Pascal Gauthier. He has worked with Kelkoo and Criteo, and as a venture partner at Mosaic Ventures. He is also currently the non-executive chairman of Kaiko.
Advantages of a Ledger wallet?
- Higher level of security. It is safer to store private keys offline, where hackers cannot get access to access.
- A backup phrase of 24 words. This is a chance to restore information if something is wrong with the device.
- Many supported coins . Multi-currency wallets are more efficient tools and provide owners with more options.
- Convenience. Learning how to use these wallets does not require much effort. < /ol>
Disadvantages of the Ledger wallet?
- Limited storage. Since these wallets are devices, their capabilities are limited. Even though Ledger Nano X provides a lot of storage space, it still has limitations.
- No live customer support. In case something happens, the only An accessible option for contacting the developers is the Questions page.
- The possibility of your device being lost or stolen. Although the security level of offline storage is much higher, there is still a possibility that something will happen to your device.
Conclusion
In conclusion, we can say that Ledger produces high-quality hardware wallets with an extremely high level of security. There are undoubtedly some disadvantages that you should consider before purchasing the device. And be extremely careful to only buy Ledger wallets from the official store and read the instructions provided by the company.
Ledger has established itself as a respectable company that cares about the interests of its clients.
