Introduction to Ledger: Securely storing blockchain assets
Blockchain is the technology that is changing the way we store and transmit digital value. However, with the development of blockchain, the threat of theft and hacker attacks has also increased. That is why it is so important to ensure the security of your blockchain assets. One of the safest ways to store digital assets is to use a hardware wallet, such as Ledger. In this article, you will learn why Ledger is one of the most popular and secure hardware wallets on the market.
What is Ledger?
Ledger is a company specializing in the production of hardware wallets for storing digital assets. Hardware wallets are offline devices that allow for secure storage of private keys used to access blockchain assets. This means that even if your device is connected to an infected computer, hackers will not have access to your private keys.
Models of Ledger hardware wallets
Ledger offers two main models of hardware wallets:
Ledger Nano S and Ledger Nano X. Both models provide a high level of security, but differ slightly in functionality and price.
Ledger Nano S
Ledger Nano S is a more basic model of Ledger hardware wallet. It is a compact device with an OLED display and two navigation buttons. The Nano S supports over 1800 different cryptocurrencies and tokens, making it an ideal choice for most users.
Ledger Nano X
Ledger Nano X is a more advanced model of Ledger hardware wallet. It features a larger display, a battery, Bluetooth, and the ability to install up to one hundred applications. This allows you to store and manage a larger variety of blockchain assets.
Why is Ledger secure?
Security is the most important factor to consider when choosing a hardware wallet for storing blockchain assets. Ledger is considered one of the safest hardware wallets on the market.
Here's why:
Certified Secure Element (CC EAL5+): Ledger uses a certified secure element that meets the highest security standards.
Independent certification by ANSSI: Ledger is independently certified by ANSSI, the French agency for cybersecurity and information systems security.
Access protection: Ledger uses a PIN code and a 24-word recovery phrase to ensure secure access to your blockchain assets.
Offline mode: Ledger hardware wallets operate in offline mode, meaning that private keys are stored in a secure environment regardless of internet connection.
Benefits of using Ledger
Using a Ledger hardware wallet to store blockchain assets has many benefits. Here are some of them:
Secure storage: Ledger provides the highest level of security, ensuring that your assets are protected from theft and hacker attacks.
Versatility: Ledger hardware wallets support over 1800 different cryptocurrencies and tokens, allowing you to store and manage various blockchain assets in one place.
Staking: The Ledger Live app allows users to benefit from staking, generating passive income from stored assets. You can stake on different blockchains and earn rewards.
Loans: With the loan feature, you can generate profits from inactive assets. You can deposit tokens into a contract address and receive COMP tokens in return.
When you decide to withdraw your assets and interest, you can return the cToken and retrieve your funds.
Asset exchange: The Ledger Live app offers the ParaSwap feature, which allows for secure exchange of one digital asset for another without the need to use traditional currencies. This is a convenient solution for those who want to exchange blockchain assets.
Compatibility: The Ledger Live app is compatible with both desktop and mobile devices, allowing you to access your blockchain assets from anywhere.
How to start using Ledger?
To use the Ledger Live app and take advantage of the features of the Ledger hardware wallet, you must first own a Ledger hardware wallet. If you don't already have one, it is worth purchasing and setting up a PIN code and recovery phrase. Then, download the Ledger Live app to your smartphone or computer. If you need instructions, you can watch the available tutorial video to help you with the setup.
Summary
Ledger is one of the most reputable companies producing hardware wallets for storing blockchain assets. With high security and versatility, Ledger is the choice of many cryptocurrency enthusiasts and blockchain investors. The Ledger Live app provides access to advanced features such as staking and loans, allowing users to generate passive income from stored assets. If you care about securely storing your blockchain assets, Ledger is one of the best choices on the market.
