The one underlying factor that is common with cryptocurrencies is that you should not hold them on an exchange unless you are a trader.
Leaving or storing your cryptocurrency on an exchange exposes you to a third party attack that can take control of your account and funds. You should only leave your crypto coins on an exchange for as long as necessary.
You can use a mobile wallet but there are also prone to hacking. Paper wallets seem like a good alternative for holding crypto coins long-term, but they are too inconvenient. So what’s the next best option?
The Ledger Nano S
Ledger Nano S is cryptocurrency hardware wallet for Bitcoin, Ethereum, Altcoins and many other cryptocurrencies. Its robust safety features are designed to store cryptographic assets and secure digital payments. You can use it to connect to any computer via USB and install a secure OLED display to verify, and confirm each transaction with a single tap on its side buttons.
With Ledger Nano S, you can secure private keys, or isolate sensitive operations inside your hardware wallet with a password. Nobody can interfere with your transactions as you have to verify them physically on the embedded screen by pressing a button.
Ledger Nano S supports multiple cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ethereum apps, and other blockchain-based cryptocurrencies. You can use it to send and receive payments, check your accounts, and manage several addresses for each currency on the same device. Besides, Nano S is compatible with online services such as Gmail, Dashlane, and Dropbox.
Ledger Nano S Features
Here are some of the features that make the Ledger Nano S more secure offline than other hardware wallets:
- Because it’s an HD wallet, Nano S allows you to control multiple accounts for all supported cryptocurrencies. Thus all crypto coins stored on the Nano S will be secured with the same backup key. You can store Bitcoin for your friends, and label those accounts on their behalf and secure them as if they were your own
- Ledger supports ERC tokens when used with MyEtherWallet
- Nano S Ledger is compatible with Linux, Mac, Chrome OS and Windows. You can also use an OTG cable to connect to your Android device
- Your Ledger Nano S doesn’t need to connect to a computer to receive Bitcoin. Your ledger will still receive Bitcoin even when offline
- You can store as many coins as you wish
- There is no need to transfer your coins elsewhere when updating your wallet. All the coins will reappear automatically after updating and restoring.
- The fact that you can store multiple cryptocurrencies in this Wallet makes buying Ledger Nano S a worthy investment.
Crypto Cashback Coin offers Ledger Nano S Hardware Wallet from Amazon with special coupon that provides at least 2% crypto cashback for the online purchase amount here.
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