Bitcoin Hardware Wallet

Let’s discuss the types of Bitcoin Hardware wallet, and why you might want to use one kind over another.

Ledger Nano S

About Leder

The Ledger company has quickly emerged as one of the leading providers of hardware wallet s for the digital currency market. In 2016, the company launched the Ledger Nano S, a hardware wallet that allows you to store Bitcoin, Ethereum and a large variety of  altcoins. The Ledger Nano S boasts a number of safety features, but its biggest claim to fame is the price tag attached to it – the Nano S is the cheapest Bitcoin hardware wallet with a screen. You’ll see why that’s important in a moment.

EUR79.00 excl VAT approx ( $97.50usd ) Free Shipping! 

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What is Ledger Nano S ?

If you’re looking for a Bitcoin hardware wallet that stores the world’s leading digital currencies, Ledger Nano S offers an attractive value proposition. Unlike its predecessors, Nano and Ledger HW.1, the Nano S has a built-in, organic LED (OLED) screen, which puts it roughly in the same league as TREZOR. The sleek OLED display means you can double-check and confirm each transaction with a single tap of a button. It’s important to point out that the Nano S can connect to any computer via USB. The Ledger Nano S can be used with thesem, Operating Systems, Windows (7+), Mac (10.8+), Linux or Chrome OS. Requires Google Chrome or Chromium. And also can Run with the following software wallets. Ledger Wallet Bitcoin, Ledger Wallet Ethereum, Ledger Wallet Ripple, Copay, Electrum, Mycelium, MyEtherWallet, GreenBits and BitGo.

How secure is the Ledger Nano S ?

The Nano S wallet offers integrated security features to help you send and receive payments as safely as possible.

Offline Storage. The whole purpose of hardware wallets is to store your digital currencies offline and out of the reach of hackers. The Ledger Nano S is no exception.

Secure PIN Code. Choosing a secure PIN code is one of the first things the Nano S will prompt you to do. This four-digit PIN is needed to send payments. After three incorrect guesses, the device wipes itself.

Backup and Restoration. Even if you lose your physical wallet, your accounts are backed up on a recovery sheet that consists of 24 unique words that you create.

Advanced Passphrase Options. The Ledger Nano S now provides advanced passphrase options, which lets you add custom text onto your 24-word recovery phase. However, this is a really delicate feature, and Ledger doesn’t recommend you use it unless you are absolutely sure you understand it.

FAQ

( Frequenlty Asked Questions About Leder Nano S )

Bitcoin Hardware Wallet

Can I make and receive payments with my ledger Nano S ? 

Yes! You can make and receive payments with the Ledger Nano S.

What happens if I loose or damage my Ledger Nano S ?

As long as you have your recovery phrase, you can input this into a new Ledger Wallet device or on a compatible software wallet, this will restore your entire balance.

What if I forget my PIN code ?

You have three attempts to correctly enter your PIN. After three attempts, the Nano S will automatically reset itself to factory condition. The only way to recover your accounts is to use the 24-word backup.

What Do I Receive With My Ledger Nano S ?

1. Ledger Nano S device

2. One USB cable

3. Lanyard that allows you to wear the device around your neck

4. One keychain

5. One key ring

6. Recovery sheet for writing down the seed

How Much is the Ledger Nano S ?

EUR79.00 excl VAT approx ( $97.50usd ) Free Shipping! 

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Trezor

About Trezor Wallet – Bitcoin Hardware Wallet

TREZOR is a Bitcoin hardware wallet that functions as a USB dongle, allowing users to safely access their cryptocurrency even on insecure computers. It operates on a Zero Trust approach, which advocates for multiple layers of security to minimise the ways it can be compromised by a third party. Calling itself the “Bitcoin safe”.

Approx ( $110.00 usd ) Free Shipping! 

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Security features of the Trezor wallet

PIN protection. TREZOR is protected by a PIN code you choose. Each time you enter the wrong pin, the wait time until you can re-enter it increases by a power of two. And there’s no starting the timer over – you simply have to wait it out.

Recovery seed. TREZOR provides you with a randomly generated 24-word code that you can use to recover your wallet if your TREZOR is stolen or lost.

Single-purpose device. A bitcoin wallet only, there are no apps or downloads available for the hardware that could potentially compromise security.

Limited attack surface. TREZOR limits its communication with other devices. It has no batteries, cameras for scanning, Bluetooth or Wi-Fi. When the USB device isn’t connected, it’s turned off.

How do I receive bitcoin on my TREZOR?

To add bitcoin to your TREZOR, follow these secure installation steps:

Download the myTREZOR plug-in. Go to the TREZOR wallet site and download the plug-in. First-time users will create a PIN and save their recovery seed.

Click on the account in your browser. Go to the Receive tab to get your first bitcoin address.

Look for the eye icon. This icon features an address that should match the one appearing on your TREZOR hardware screen. Don’t transfer if the eye doesn’t show a matching address – it could be the sign of a phishing attempt.

Confirmation. Until a transaction is complete (about 15 minutes), the Timestamp column will show “Unconfirmed.” Once you see a date and time in this column, the money is yours.

How do I make payments?

Unless you’re hoarding cryptocurrency, you’re going to want to make payments using your TREZOR. You can do this through the myTREZOR plug-in.

Click the send tab on the plug-in. Enter the address for the transaction and the amount you’re sending. You can choose to enter the transaction amount in BTC or fiat currency. The exchange rate is calculated by CoinDesk.

Enter your PIN. Enter your PIN to unlock your device. The pin will unlock your TREZOR until it’s unplugged.

Confirm the transaction. The amount of the transaction and the address to which it’s being sent appears on the TREZOR screen. Either confirm or cancel the transaction from the hardware.

Watch the progress of your transaction. Track your outgoing transaction from the Transactions tab.

Pros And Cons

PROS

Security. Limits the ways your TREZOR can be accessed and protects it from hacking.

Multiple currencies. Supports several currencies other than bitcoin and can convert transaction amounts to and from fiat currency.

Easy-to-use interface. The myTREZOR browser plug-in makes it easy to complete transactions.

CONS

Complicated PIN. It takes time to set up the plug-in, and you must re-enter your PIN using an obscured keypad every time you plug in the TREZOR.

Limited transaction opportunities. Because it’s a hardware wallet, the TREZOR must be plugged into a computer to make transactions, unlike mobile or paper wallets that can be used on the go.

High cost. You’ll pay around US$300 or more for the high security TREZOR provides.

How Much Is The Trezor Wallet?

Approx ( $110.00 usd ) Free Shipping! 

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Disclaimer

This website is monetize through affiliate links. (where used) We will disclose this and make no attempt to hide it. We don’t endorse any affiliate services we use – and will not be liable for any damage, expense or other loss you may suffer from using any of these. Don’t rush into anything, do your own research. All information on this website is for general informational purposes only, and this is NOT intended to provide legal or financial advice. We recommend you to consult your own legal & financial advisors before making any cryptocurrency related purchases.

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