Ledger Nano S: The Best Cryptocurrency Wallet

In this article, I explain what types of wallets exist for cryptocurrencies, why the Ledger Nano S is, in my opinion, the best wallet, and how to use it step by step to easily store our cryptocurrencies.

If you prefer, below is a very detailed video that includes a complete step-by-step tutorial on how to use Ledger Nano S to store our cryptocurrencies.

In this article, I explained why I consider Coinbase as the best platform to invest in cryptocurrencies if you are taking your first steps into this world.

One of the many things that makes me love Coinbase so much is that it has un integrated digital wallet.  This makes investing in cryptocurrencies cheaper because you don't need to buy a separate wallet. However, to be 100% sure that no one steals or hacks our Coinbase account (the platform could suffer a cyber attack), I recommend adding another layer of security by using a wallet that only we will have access to .

On the other hand, if you use just about any other platform to invest in cryptocurrencies (for example, Binance complements Coinbase very well because it allows you to invest in more "exotic" cryptocurrencies than Bitcoin, Ethereum, Cardan, Polkadot, etc., which are the ones offered by Coinbase), it is essential that you have a wallet, so the following will be of great interest to you.

Which wallet to choose to store our cryptocurrencies

There are several types of wallets (online, paper, USB drives, etc.), but undoubtedly the most secure are those that look like USB drives. They are the safest since once we have transferred the coins to the wallet, we disconnect the device from our computer and store it offline at the place of our choice. They carry a security key, so if someone gets their hands on our USB key, they won't be able to use it because they won't know our access code.

Within this category of wallets, two brands stand out from the rest: Ledger et Trezor.

Both seem to work very well and offer an equivalent level of security. After comparing the two, I myself finally opted for the Ledger Nano S, which I have been using since 2017. My choice was mainly based on its cost and the short delivery time (shipping is from Europe instead of the USA).

Therefore, I will talk in more detail about the wallet Ledger Nano S, although this does not mean that the wallet Trezor can't be very good too (can't comment as I haven't used it).

Ledger Nano S Wallet

The Ledger Nano S wallet looks like this. This device allows both store virtual currencies et to make payments in crypto -currencies. Some of its main features are its ease of use, the speed with which transfers and payments are made, and the high level of security that this wallet offers.

The main disadvantage of this wallet is that it has a relatively limited storage capacity. However, this is only a problem if we invest in many cryptocurrencies simultaneously. But if we are going to invest in 4-5 cryptocurrencies, this will not be a problem because the storage capacity of the device will be sufficient.

Purchase of Ledger Nano S

To acquire the Ledger Nano S, there are two ways. One way is to do it directly on the Ledger page by by clicking here.

I recommend consulting both pages and buying the wallet on the most interesting page because the shipping costs can vary quite a bit depending on where you live from one page to another.

Configuring the Nano S Ledger

Regardless of the page used to purchase the device, on the Ledger website you will find all the explanations of how to use the device in a descriptive and visual way (they have several videos that guide you step by step).

First of all, we will have to configure the device to make it as secure as possible . To do this, we must enter a security code that will protect the device in the event of physical theft. We must also write some words that will allow us to access our wallet in case we lose our device. All this is explained in more detail in the article next from Ledger.

Second, we must install the applications that correspond to the cryptocurrencies in which we wish to invest . For example, if we only want to invest in Ethereum, we will only have to download said application to our computer. Again, on the Ledger page we find video tutorials to do it without getting lost.

Once we have everything installed correctly (the process shouldn't take more than 5-10 minutes) we can now send our parts from Coinbase or any other platform we use to buy cryptocurrency. Again, on the Ledger page, we find all the necessary explanations. And if you can't find what you're looking for, you can always contact customer service which works great and they'll be happy to help you with anything.

Conclusion

Cryptocurrencies are an investment that can offer a very high return on investment (several hundred or even thousands of %) in a very short period of time. To fully secure our investment, it is best to add a layer of security and store our coins in a wallet such as the Ledger Nano S to make sure they are not stolen.

That said, I want to remind you that the volatility of cryptocurrencies also means that you can still lose a lot of money very quickly. Therefore, I recommend that if you decide to invest in any cryptocurrency, don't invest more than the money you can afford to lose.

If you have any questions about using the Ledger Nano S or would like to share with other readers your experience investing in cryptocurrencies and recommended platforms, feel free to leave a comment below. below.

And if you think this article may be of interest to other people around you, do not hesitate to share it with them because it is an unprecedented investment that few people know about yet. Thank you very much in advance!