Ledger Hardware Wallet For Bitcoin & Cryptocurrency Storage [REVIEW]

The Ledger Nano S is a hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments. It connects to any computer (USB) and embeds a secure OLED display to double-check and confirm each transaction with a single tap on its side buttons.

Unlike some other wallets, the Ledger Nano Scan be used to store varieties of cryptographic assets including:

Ethereum, Ethereum classic, Dash, Ripple, Stratis, ZCash, Litecoin, NEO, Bitcoin Gold, Bitcoin Cash, Viacoin, PoSW, ARK, Ubiq, Expanse, PIVX, Stealthcoin, NEO and ERC20 tokens.

Like most other hardware wallet, Ledger is compatible with all major operating systems including Windows, Mac, Linux, and Chrome OS, and Android.

To ensure maximum security while making transaction with the device, the seed word is only displayed to the user on the physical device, and the user needs to confirm or cancel any transaction by tapping the buttons of the device. So, even if your computer is hacked, the hacker won’t be able to transfer those cryptographic assets because they don’t have physical access to your Ledger Nano S.

Also, the Ledger Nano S is an Hierarchical Definition HD wallet, meaning you get a new receiving address each time you want to receive funds. Additionally, you can also sign a message using the Ledger Nano S to prove your ownership of the address.

Setting Up Ledger Nano S

Set the Pin Code

As you would see, the device has no power button. To put on the device, you simply need to plug your Nano S with the USB cable on a computer, and disconnect the cable to turn it off.

Follow the instructions on the embedded small screen to set the pin code. Press both buttons on the device and choose either of the two options displayed on the screen:

1. To configure a new device, with an original seed or
2. Restore a configuration

If you want to create a new seed, select “Configure as new device” by clicking on the right button (above the check icon), else, if you want to import a seed you already have, click on the left button (above the cross), you will be prompted to restore a configuration. The next step is to choose a PIN code.

Note: You can choose to create a new wallet, or import a Bitcoin account or an Ethereum account. Whatever your selection, you just need to observe the on-screen instructions all along the process, selecting and validating with the two buttons above the display.

Backup the Recovery Phrase

Copy the sequence of numbers that appear in their order of appearance. This step is really important to guarantee you can recover anytime your wallet in case of loss or theft.

This step is important as this seed is the only proof of ownership and the backup of your wallet and funds. You must be careful to read and write each word correctly. If you make even one single mistake on a character, your seed would be false and you would not be able to recover your funds in case of need. It is highly recommended that you make use of the Recovery sheet provided in your box.

Once the full list of 24 words have been written down, you’ll be need to make verification of the copied seed phrase by comparing each word in the copied phrase with the displayed words by selecting the right ones that match with the ones you copied. You won’t be able to finish the configuration without confirming you copied the 24 words by selecting some of them as requested.

Install the Ledger Apps

Once your Nano S displays “Your device is now ready”, your Nano S is configured. Now you just have to install the Ledger Apps on your computer to use your wallet. Since the Nano S is a supports a variety of currencies, you can install several applications on it.

By default, your Nano S Bitcoin, Ethereum, and FIDO U2F applications already installed. Using the Ledger manager, you can add new applications not more than an overall of five (5) applications at a time to the device, and they can be removed or replaced at your convenience. Removing an application won't make you lose your coins, as you will be able to see your balance and transact as soon as the coin application has been installed again.

To install The Ledger Manager On your computer:

In your Chrome browser, go to the Chrome webstore and click on “Add to Chrome”

Launch the Ledger Manager after adding to Chrome.

In your Chrome browser, go to More tools > Extensions, scroll until you find the application and launch it

The Ledger Manager is a free app store, from where you can make updates, install and uninstall applications on the Nano S and the Blue. It doesn't manage your coins or launch your accounts applications.

After Launching the application, you’ll see the page as shown below:

Then connect your Nano S to the computer using the provided USB cable. Enter your PIN, and stay on the dashboard. For each action made with the Ledger Manager, a confirmation will be required on your device as a signature.

• To install an application on your device, click on the green bottom arrow icon, and confirm the installation when required on your device. 

• To uninstall an application on your device, click on the bin icon.

Now you can use your Nano S with your Chrome apps on any computer, even a compromised one, to send or receive payments. Each transaction will be verified on the embedded display, and validated with buttons.

SENDING/RECEIVING BTC WITH THE YOUR LEDGER NANO S

To Receive BTC with Your Nano S Device

Once your device is initialized, launch the Ledger Wallet Bitcoin Chrome application.

• Connect your Ledger device
• Enter your PIN code
• Open the Bitcoin application on your device
• Launch your Bitcoin Chrome application on your computer
• Click on “Receive”, a popup window opens
• Copy the “Bitcoin address” which is displayed, paste the address into the receiving wallet, and wait for confirmation.

To Receive BTC with Your Nano S Device

Once your device is initialized, launch the Ledger Wallet Bitcoin Chrome application.

• Connect your Ledger device
• Enter your PIN code
• Open the Bitcoin app on your Nano S (right click)
• Launch your Bitcoin Chrome application on your computer
• Click on “Send“, a popup window opens
• Fill in the required fields: amount, recipient address (you can paste or scan),
• Click on the “Send” button
• Authenticate the physical device

Press the right button (above the “V” check icon) to confirm once you have verified the details of your transaction are right and wait until your Chrome app displays “validated“.

Your transaction is validated and will be tracked on the Blockchain as soon as it is confirmed by miners in accordance with Bitcoin protocol.