What is the first step in your investment on cryptocurrencies?
Are you seriously thinking about investing in cryptocurrencies? Then, you need to buy at least one hardware wallet for securing your cryptocurrencies before starting the investment process. Even though you may be tempted to store the private keys easily in your mobile or online wallets, it is not at all secure. Because, if some hacker or fraudster can steal your private keys, then you will lose all your bitcoins or other altcoins that are stored in the wallet. And no one can help you recover them. That's why a hardware wallet is considered the best option to store Bitcoins, Ether, Litecoins or most types of cryptocurrencies. Till 2014, Trezor was the only available hardware wallet. Ledger Nano S was introduced in the year 2015 in France and has slowly become the #1 competitor for Trezor.
Ledger Nano S looks similar to a USB drive, except that it is enclosed in a metal casing. The casing will prevent the device from scratching and hence increases its durability. Ledger Nano S can be connected to any computer with a USB port. The supported operating systems are Windows, Linux, and MacOS. Like Trezor, Ledger Nano S package also consists of the device, USB cable, lanyard, instruction manual and recovery card.
Setup and Installation
First, you need to configure the device by creating a secure PIN. Don't choose a PIN containing your date of birth, anniversary date etc. Instead, choose a highly secure PIN of at least 4 characters in length. Do remember to make a note of your recovery seed on a piece of paper so that you can use that information to retrieve your private keys, in case if your device is lost or stolen. Like all other hardware wallets, Ledger Nano S also shows the seed words on the secondary screen instead of your computer screen. Even if someone will tries to access your wallet remotely, they cannot succeed because the secret key is shown only to you on the device's screen.
If you compare Ledger Nano S with Trezor, you can find many similarities and only a few differences which are listed below.
Built-in anti-tamper software
Ledger Nano S is not shipped with an anti-tampering seal. Instead, it comes with a built-in anti-tamper software which will help you to detect any fraudulent activity that might have happened from the time it is shipped. So, you can make sure that your received package is fully original and not tampered.
Supports more than 20 cryptocurrency coins
Besides Bitcoin, you can store other types of cryptocurrency coins such as Litecoin, Ethereum, Ripple, Dogecoin, Zcash etc on your Ledger Nano S hardware wallet. The company is actively adding new crypto coins every few months or so. You can also integrate your existing wallets like MyEtherWallet, Mycelium, Electrum etc with the Ledger. In fact, Ledger Nano S was the first ever hardware wallet which provided full-fledged support for Ethereum when most of the world's focus was on bitcoins. Also, the Ledger Nano S is the only hardware wallet that supports the maximum number of cryptocurrencies.
Ledger Manager app will help you to install separate apps for managing various cryptocurrencies based on your need. You need to use a Chrome browser for better communication with your Ledger device as the apps for supporting cryptocurrencies like Ethereum, Ripple, Bitcoin etc can be downloaded from the chrome store. You can use Ledger Nano S for more than 20 cryptocurrencies, the GUI is clean and easy-to-use.
Cheaper than other hardware wallets
The Ledger Nano S started out as one of the cheapest hardware wallets available in the GCC region and around the world. Even now after a recent price increase, it continues to be an affordable piece of hardware that's both sturdy and reliable.
You can now place an order for the Ledger Nano S or any of the other hardware wallets such as Trezor or Keepkey from our store page. We offer same day shipping for all orders placed within any of the GCC countries including UAE, Saudi Arabia, Bahrain, Qatar, Kuwait and Oman. Our customers anywhere in the UAE - Dubai, Abu Dhabi, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah also get to choose Cash-on-delivery (COD) during checkout and pay cash at their doorstep.
Every order also comes with 2 years warranty and toll-free customer support.