{"id":1185,"date":"2018-01-24T14:51:20","date_gmt":"2018-01-24T14:51:20","guid":{"rendered":"http:\/\/www.stcleaner.com\/blog\/?p=1185"},"modified":"2018-01-24T14:53:15","modified_gmt":"2018-01-24T14:53:15","slug":"ledger-wallet-detailed-review-2018","status":"publish","type":"post","link":"https:\/\/www.stcleaner.com\/blog\/2018\/01\/24\/ledger-wallet-detailed-review-2018\/","title":{"rendered":"Ledger Wallet Detailed Review 2018"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> is a <\/span><b>USB<\/b><span style=\"font-weight: 400\"> wallet with the ability to that store multiple cryptocurrencies and is protected by two-factor security mechanism.<\/span><\/p>\n<p><!--more--><\/p>\n<p><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> has been developed by three French startups including <\/span><b>BTChip<\/b><span style=\"font-weight: 400\">, <\/span><b>Chronocoin<\/b><span style=\"font-weight: 400\"> and <\/span><b>La Maison du Bitcoin<\/b><span style=\"font-weight: 400\">. It was launched in <\/span><b>2014<\/b><span style=\"font-weight: 400\"> and is used by most cryptocurrency miners and traders. Due to the widespread use of cryptocurrencies around the world, a <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> makes it easy to perform transactions through its simple plug and play feature.<\/span><\/p>\n<h2><b>Price<\/b><\/h2>\n<p><span style=\"font-weight: 400\">A <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> is available for <\/span><b>\u20ac79.00<\/b><span style=\"font-weight: 400\"> and can be purchased directly from the ledgerwallet.com website. It currently supports <\/span><b>Bitcoin<\/b><span style=\"font-weight: 400\">, <\/span><b>Ethereum Classic<\/b><span style=\"font-weight: 400\">, <\/span><b>Altcoin<\/b><span style=\"font-weight: 400\"> and <\/span><b>Litecoin<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2><b>Features<\/b><\/h2>\n<p><b>Ledger Wallet S<\/b><span style=\"font-weight: 400\"> is different from other wallets produced by the same company because it has a screen attached to the <\/span><b>USB<\/b><span style=\"font-weight: 400\">. In the previous versions, users had a security card that was used for entering the <\/span><b>PIN<\/b><span style=\"font-weight: 400\"> code. But in this version, the <\/span><b>PIN<\/b><span style=\"font-weight: 400\"> is set during the initializing process which makes the transactions easier to verify through the press of a few buttons.<\/span><\/p>\n<h2><b>Package Contents<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The <\/span><b>Ledger Wallet Nano S<\/b><span style=\"font-weight: 400\"> includes:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">1 micro <\/span><b>USB<\/b><span style=\"font-weight: 400\"> cable<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">1 <\/span><b>USB<\/b><span style=\"font-weight: 400\"> wallet with screen<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">1 instruction manual<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">1 recovery manual<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">1 keychain and ring<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">A lanyard for wearing device around neck<\/span><\/li>\n<\/ul>\n<h2><b>Working of a Ledger Wallet<\/b><\/h2>\n<p><span style=\"font-weight: 400\">A <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> is designed keeping in mind the needs of a regular <\/span><b>Bitcoin<\/b><span style=\"font-weight: 400\"> user. Due to its small size, it can easily fit in a pocket and can even be chained to a keychain. The <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> comes with an <\/span><b>LCD<\/b><span style=\"font-weight: 400\">-embedded <\/span><b>USB<\/b><span style=\"font-weight: 400\"> card key for verification of each transaction. Though this may sound a little obtrusive, but it is one low-cost way to secure the <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> easily.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Once you have the <\/span><b>USB<\/b><span style=\"font-weight: 400\"> with you, use it on a safe computer. You will need to <\/span><a href=\"https:\/\/www.ledgerwallet.com\/apps\/bitcoin\"><span style=\"font-weight: 400\">install <\/span><b>Google Chrome<\/b><span style=\"font-weight: 400\"> app<\/span><\/a><span style=\"font-weight: 400\"> to carry out transactions. You will have to first verify the wallet by authenticating it through the app. After installing the app on <\/span><b>Google Chrome<\/b><span style=\"font-weight: 400\">, create a wallet. While creating the wallet, ask for a 24-digit recovery phrase. The 24-digit recovery code also includes the recovery code for the smart key.<\/span><\/p>\n<p><span style=\"text-decoration: underline\"><b>Note:<\/b><\/span><span style=\"font-weight: 400\"> The 24-digit recovery phrase should be kept safe. Without it, the wallet will not be accessible.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Once the wallet is set, simply plug-in the <\/span><b>USB<\/b><span style=\"font-weight: 400\"> and enter the code that you had setup while initializing the <\/span><b>Ledger Wallet S USB<\/b><span style=\"font-weight: 400\"> key.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The wallet is easy-to-use if you are an existing <\/span><b>Bitcoin<\/b><span style=\"font-weight: 400\"> wallet user. The only addition inculcated in this wallet is the two-factor security verification factor, made possible through the card. Think of this security key as your only way to access the wallet.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It will then prompt you for verification before making the transaction. Confirm it by pressing the buttons available on the <\/span><b>USB<\/b><span style=\"font-weight: 400\"> key.<\/span><\/p>\n<h2><b>Security Features<\/b><\/h2>\n<ul>\n<li><b>Buttons and Screens<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">A compelling feature in this wallet by <\/span><b>Ledger Wallets<\/b><span style=\"font-weight: 400\"> is the addition of the screen and the button. Previously, the users had to keep the security card for making any transaction but now everything is available on the <\/span><b>USB<\/b><span style=\"font-weight: 400\">. The buttons need to be pressed at the same time to confirm the transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the addition of the screen, the <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> can make transactions even when connected to an infected computer.<\/span><\/p>\n<ul>\n<li><b>3-Try Wallet Security<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Another feature rolled out courtesy the <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> was the addition of three tries. A stranger won\u2019t be able to use the wallet even if they try to enter the <\/span><b>PIN<\/b><span style=\"font-weight: 400\"> code thrice. The wallet will automatically get locked and the device will be reset to factory settings. The owner will then have to use the 24-digit phrase key for gaining access to the wallet\u2019s contents.<\/span><\/p>\n<ul>\n<li><b>Offline Storage<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The main purpose <\/span><b>Bitcoin<\/b><span style=\"font-weight: 400\"> miners use the <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> is because it is an offline storage medium and they don\u2019t need to be afraid of their data getting lost even if the computer\u2019s security is compromised. Since state-of-the-art security procedures are used in the <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\">, the offline storage is simply out of the reach of a hacker.<\/span><\/p>\n<ul>\n<li><b>Anti-Tampering Seal<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Just be sure to check the tamper-proof seal when it arrives. Make sure it is not altered in anyway, or else someone was most definitely tampering with it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If this is the case indeed, call the support and request them for a new device.<\/span><\/p>\n<ul>\n<li><b>Passphrase (To be added Soon)<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">A new security feature (under development) is that of the passphrase. This will be an addition to the 24-digit security pass of wallet. The passphrase will allow you to set your own phrase (in addition to all the existing security protocols that concern <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\">), so that even if the 24-digit security is compromised, the attacker won\u2019t be able to access the wallet without this passphrase.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><b>Screen<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The screen on the USB key adds additional security layer. You can easily confirm the payments through the screen and also check if the correct amount is being sent or not.<\/span><\/p>\n<h2><b>Why is Ledger Wallet better than Other Digital Wallets?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Apart from the regular two-factor security features, <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> provides an offline security layer that isn\u2019t available in other digital formats. This way a hacker won\u2019t be able to use your wallet if it is not connected to a device and your assets will remain secure.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the worst case scenario, even if a hacker somehow gains access to the wallet, the two-factor security option will make the wallet redundant.<\/span><\/p>\n<h2><b>Our Verdict<\/b><\/h2>\n<p><span style=\"font-weight: 400\">While searching for an offline wallet for your digital currencies, doing a cost-benefit analysis is a recommended act. As per our analysis, <\/span><b>Ledger Wallet<\/b><span style=\"font-weight: 400\"> is a good investment for protecting your digital currencies.<\/span><\/p>\n<h2><b>Sources<\/b><\/h2>\n<p><span style=\"font-weight: 400\">1. <\/span><a href=\"https:\/\/www.coindesk.com\/review-ledger-wallet-nano-provides-premium-security-budget\/\"><span style=\"font-weight: 400\">Ledger Wallet Nano S<\/span><\/a> <span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\">2. <\/span><a href=\"https:\/\/www.ledgerwallet.com\/products\/ledger-nano-s\"><span style=\"font-weight: 400\">Ledger Nano S<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Ledger Wallet is a USB wallet with the ability to that store multiple cryptocurrencies and is protected by two-factor security mechanism.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[802,799,801,797,800,798],"class_list":["post-1185","post","type-post","status-publish","format-standard","hentry","category-solutions","tag-a-brief-intro-on-ledger-wallet-nano-s","tag-brief-intro-on-ledger-wallet","tag-features-and-its-owrking","tag-ledger-wallet-introduction","tag-ledger-wallet-price","tag-the-how-and-why-of-ledger-wallet-nano-s"],"_links":{"self":[{"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/posts\/1185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/comments?post=1185"}],"version-history":[{"count":3,"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/posts\/1185\/revisions"}],"predecessor-version":[{"id":1188,"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/posts\/1185\/revisions\/1188"}],"wp:attachment":[{"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/media?parent=1185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/categories?post=1185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stcleaner.com\/blog\/wp-json\/wp\/v2\/tags?post=1185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}