How Safe is Ledger Nano S?

Cryptocurrencies have been on a sale like hotcakes in the past couple of years. The right cryptocurrency investment is on everyone’s mind. The popularity with such fund movements is of the results that it might bear upon the right selection of the cryptocurrency.

The transaction process, however, can leave many worried if there is even an ounce of uncertainty. There are two specific ways through which for the time being these transactions take place which is through paper wallets and hardware wallets. Hardware wallets have a fanbase of their own. It is considered one of the best ways to store cryptocurrencies as it comes with high notch security.

Considering the concern regarding choosing the best possible wallet for the cryptocurrencies holding the valuable investments, Ledger Nano S guides the way. The hardware wallet Ledger Nano S is considered to be of optimum quality and range as safety and security are not compromised and are ensured in the best preventive ways possible.

Ledgers built all its devices around specialized chips called Secured Elements and designed a secured operating system called BOLOS. This boosts up all of the wallet’s security amenities. They are run by microcontrollers which are the same as processors.

Here’s how the Ledger Nano S provides all the necessary checkpoints that you are looking for-

  • The wallet requires a physical press to enable “Send transaction”. This cannot be skipped by any hacker who has control over your PC with a hardware wallet connected. This proves a safeguard advantage.
  • The Ledger Nano S requires you to enter a PIN. Upon three failed attempts at entering the PIN, the device will wipe itself.
  • The private keys are stored in a separate enclave environment and are offline. No private keys get stored on the server. They never leave the device and wallets can be wiped and be generated multiple times.
  • The Ledger Nano S has an anti-tampering seal that should only be bought from an authorised seller.
  • Ledger Nano S also has Passphrase which is an extra addition to 24-word recovery phrase.
  • The hardware also checks itself every boot.

Ledgers have been manufacturing one of the safest and secure wallets for investment in the cryptocurrencies. The company recently went into an agreement that ensures all users are protected from a third-party hack. One of the most important things to note however is that it is ordered from its official website and no duplicate ones.