Close

October 12, 2018

Everything to know about the Ledger Nano S and Ledger Blue wallet

ledger wallet

“developing security and infrastructure solutions for cryptocurrencies as well as blockchain applications for individuals and companies, by leveraging a distinctive, proprietary technology.”

 

By now, you may know what a cryptocurrency wallet is. But what defines a cryptocurrency hardware wallet is its ability to secure the private key provided by your wallet address.

Private keys are are essentially what makes cryptocurrency wallets hackable. This is why many cryptocurrency wallets, like Coindirect, implement two-factor authentication (2FA).

Launched in 2014 and based in Paris, Vierzon and San Francisco, Ledger is a secure, offline solution for blockchain applications such as cryptocurrency and third-party applications. With your Bitcoin (BTC) and altcoins stored offline in a cold storage hardware wallet, it’s impossible for hackers to compromise your private keys and access your cryptocurrencies when making transactions or simply checking your Ledger account.

 

About Ledger

The creators of Ledger built the platform on the premise of “securing the new disruptive class of crypto assets”. These cryptocurrency assets include various cryptocurrencies, ICO’s, sensors, IoT devices, second-factor authentication and passwordless logins, and many more.

Ledger has built its own unique operating system known as ‘BOLOS’. Focusing on constantly improving its popular Ledger wallet as well as a number of business solutions, Ledger has integrated BOLOS into both its hardware wallet and Hardware Security Module for enterprises.  

The Ledger wallet’s ‘secure chip’ is a platform that cannot be tampered with. The EAL 5+ secure chip is able to support applications and data in correlation to the rules and security requirements of pre-authorized applications and people. As a real-world practical use case, this chip is the same one used in your credit card or passport.

What essentially makes Ledger unique to hardware wallets such as Trezor, include:

  1. Ledger Live
  2. Ledger Vault
  3. Two cold storage, hardware wallets – Ledger Nano S and Ledger Blue
  4. Ledger-exclusive benefits

 

What is Ledger Live?

ledger live

Image: Ledger

Ledger has developed an app where users can access and track accounts, as well as make crypto transactions while your private keys remain secure in your wallet, customise transaction fees and manage comprehensive transactions.

Its function is in its name – ‘live’. This means you can not only keep live track of your Ledger account but also check up on the total balance of your cryptocurrencies in real-time. Ensuring optimal user experience, the Ledger wallet also allows you to keep real-time track of your digital assets balance even in times when your Ledger hardware device is not connected to your computer.

If you no longer need or want an application on your device, Ledger Live also offers the ease-of-use to seamlessly add or remove an app.

 

How does the Ledger Vault work?

ledger vault

Image: Ledger

Just like any vault, the Ledger Vault is a safe keep for cryptocurrencies. Here, Ledger has implemented a “multi-authorization cryptocurrency wallet management solution”. However, according to Ledger, the Ledger Vault is more respective to Custodians and Asset Managers who want seamless operations without any security risks.

The Ledger Vault also combines hot and cold wallet storages. In enabling this features, users can easily switch between hot or cold storage functionality by fine-tuning their transaction authorization rules individually for each account. The multi-authorization process is managed by the hardware security module using Ledger Blue Enterprise devices.

Although Ledger provides the security and operational services required for the functionality of its hardware wallet, Ledger retains its decentralised structure in the cryptocurrency realm by allowing users to control their own private keys.

 

The Ledger Nano S and Ledger Blue cryptocurrency hardware wallets

Ledger has 2 exclusive hardware cryptocurrency wallets – the light Ledger Nano S and the touchscreen Ledger Blue.

Although both of Ledger’s hardware wallets possess the same operating systems – BOLOS integrated with an EAL 5+ secure chip – each Ledger wallet has distinctive features:

 

  1. Ledger Nano S:

    ledger nano s

    Image: Ledger

  • Light, solid multi-currency hardware wallet in USB format for computer connection.
  • Small screen for payment validation and verification of sensitive operations.
  • Controlled by 2 buttons.
  • Ledger Live app can be used to check balances and make cryptocurrency transactions.
  • The secure chip can withstand potential cyber attacks and checks the integrity of your device when it is active; better than an anti-tampering sticker would.
  • Powered by the BOLOS ™ operating system, developed by Ledger for the purpose of shielding the hardware crypto wallet from sensitive information.
  1. Ledger Blue:

    ledger blue

    Image: Ledger

  • High end, multi-currency hardware wallet in USB format for computer connection.
  • Large colour display screen to keep an eye on apps and verify transactions.
  • Large touch screen and highly intuitive user experience to control operations.
  • Apart from supporting cryptocurrencies, Ledger Blue can hold up to 11 device applications.
  • Ledger Live app can be used to check balances and make cryptocurrency transactions.
  • The robust, secure chip can withstand potential cyber attacks and checks the integrity of your device when it is active; better than an anti-tampering sticker would.
  • With the robust, secure chip is able to withstand potential cyber attacks while private keys are safely stored inside the hardware wallet.

 

Why use the Ledger hardware cryptocurrency wallet

The Ledger hardware wallet is not renowned as a secure crypto solution for no reason. The Ledger Nano S and Ledger Blue supports dozens of cryptocurrencies. You can think of it as having an unlimited capacity to hold multiple apps and crypto.

The Ledger hardware wallet’s customizable features provide a safeguarding solution for enterprises such as Banks and Hedge Funds, and those using the blockchain for practical use cases. The Ledger app also provides a convenient user experience, as its exclusive interface is compatible with other interfaces such as BitGo, Copay, Electrum, GreenBits, Mycelium or MyEtherWallet – perfect for those looking to build their own dApps.

Providing an extra layer of security, Ledger has also integrated Fido 2UF as a second-factor authentication (U2F) to online accounts.

Access our integrated platform and #OwnTheFuture with Ledger and Coindirect.