A great offline wallet solution. I previously had a case hardware wallet, and keeping the design was a cool idea, I wound up breaking it inside seven days. It was my fault, I kept it in my back pocket and it just took me sitting back and snapping the screen. After that, I was not able to utilize the gadgets after I already put a ton of Bitcoin on there. I still have yet to get those funds back after paying $75 and waiting three weeks.
It comes wrapped in a nice box with index cards, one being a guideline, and another with twenty-four blank spaces for you to record your private key. The gadgets itself is totally restorable and replaceable as long as you maintain this, and the best part is the company never has your private keys. plug the USB into your computer and the device will turn on. In order to add or remove apps and update the firmware, you have to download the google chrome extension for the ledger manager and the extensions for whichever wallets you want to use whether it be Bitcoin or ethereal, Dogecoin, etc.
The software is simple to utilize and you have the ability to install new apps as they become available. Also installed with it is FidoU2f which will allow you to use the gadgets as a multifactor key. Super easy multifactor solution. I set mine on my Google account and it signs me in seamlessly after I enter my password and have the device plugged in.
My only complaints about this device are that it needs to be plugged into your computer to work and it requires you to have google chrome and install their extensions. It would be nice if it worked without having to plug it in since there are some places I don’t have access to a computer. They do have one called “nano ledger blue” that supposedly works with smartphones but the price is quite a bit higher. Other than that this device is portable and works great! Find helpful customer reviews and review ratings for Ledger Nano S – Cryptocurrency hardware wallet at Amazon.com.
The following are some of the major advantages of using Bitcoin versus other currency systems:
- No Third-Party Seizure
- No Taxes
- No Tracking
- No Transaction Costs
- No Risk of “Charge-backs”
- Bitcoins Cannot be Stolen
Like any currency, there are disadvantages associated with using Bitcoin:
- Bitcoins Are Not Widely Accepted
- Wallets Can Be Lost
- Bitcoin Valuation Fluctuates
- No Buyer Protection
- Risk of Unknown Technical Flaws
- Built in Deflation
- No Physical Form
- No Valuation Guarantee