Ever since cryptocurrencies have made their appearance in the financial world, speculations and controversies have glued around them. One of the prime reasons for the skeptic attitude towards virtual currencies has been the security concerns that have troubled the regulatory authorities around the world. Cryptocurrency wallets have an important role to play when it comes to the operability of transactions in a swift manner, infused with the highest levels of security of the assets held. A crypto wallet is not like a usual wallet as it does not store crypto holdings; rather protects the private keys of the owners, which helps them in safeguarding their belongings.
The market is flooded with several firms offering wallet services to customers catering to their requirements in the best possible manner. It becomes of utmost importance for an investor to know the different varieties of wallets available in the arena so that one can choose a wallet that satisfies their requirements in an efficient and economical manner. There are five chief categories of crypto wallets and they are:
- Hardware wallet– These wallets are hardware devices similar to USBs that are designed to manage and secure private keys and public addresses for the owners.
- Paper wallet– In these wallets, the user prints the private keys and addresses on a paper and transfers bitcoins and altcoins on it. Paper wallets are technical in nature and require a high level of caution from the user.
- Desktop wallets– These wallets are installed on the desktop system as they come as software packs. They are widely available on major operating systems like Mac, Windows, and Linux.
- Mobile Wallets– These wallets allow the investors to manage their operations on their mobiles. They work efficiently on Android as well as iOS mobile networks.
- Web wallets– Web wallets serve as hot wallets that are constantly connected to the internet. They can be easily accessed through browsers like Google Chrome, Firefox, etc.
Amongst all these categorial wallets, hardware wallets are undoubtedly one of the most popular and trusted wallet systems in the crypto arena. An array of firms offers hardware wallet facilities to the investors; however Ledger wallet remain the first choice for a massive group of crypto enthusiasts. The unprecedented digital security system, followed by the Ledger.com products, place the firm a notch higher in comparison to the competitors. The hardware wallets of the firm assure the investors about the security of their assets and transparency about the network they are trusting upon.
The Ledger Donjon team, which is the backbone as well as the brain of the entire network, consists of world-class experts who have intensive knowledge about their work and are masters of their art. Ledger Nano X and Ledger Nano S are the two shining stars that have led to the super success of the firm. The two hardware wallets take pride in being the first choice for millions of customers worldwide. The revolutionary technique used in the Ledger hardware wallets is incomparable and unmatchable when it comes to security and operability requirements.
Ledger Nano S is the original hardware wallet of the company that helped the network in strengthening its control in the market. The wallet is built on a secure chip that has the potential to offer the best security to the crypto assets. On the other hand, Ledger Nano X is a Bluetooth enabled hardware wallet that allows the users to store their private keys in the most secure ecosystem.
Significant Features of Ledger Live App
- The investors can indulge in the installation of nearly 100 applications on their Nano X and Nano S wallets, including Bitcoin, Ethereum, Litecoin, etc.
- Indulge in trading of more than 23 coins and over 1250 ERC-20 tokens using the Ledger Live app and more through external wallets.
- With the help of the Ledger Live feature, the users can always be in constant control of their assets. They can check balance, send and receive digital coins and tokens directly using the app.
- The app also allows users to earn lucrative rewards by staking their assets.
- The assets can be managed through smartphones or desktops using the app at the user’s convenience.
One can restore their accounts on any Ledger device with the help of a secret 24-word recovery phrase. The users need to connect their Ledger Nano X wallet to the Ledger Live Mobile app to set up the device.
Recently, Ledger grabbed the eyeballs of many owing to its controversial slogan, “Let’s Take Back Control For Real,” which did rounds in the market during the time when the UK made an exit from the European Union. The billboards displaying the slogan became a topic of discussion for the world.
Ledger is serving the global economy with its highly-acclaimed wallet services and products. The path-breaking technology used in the wallet devices has played a significant role in assuring the investors to put in their trust in crypto assets. The hardware wallet systems follow an innovative approach that offers the best security and transparency measures for investors. With the support of its team members as well as the strong customer base, Ledger is likely to rule the market in the near future.