Ledger has an impeccable reputation when it comes to bitcoin hardware wallets. They have two products, namely the Ledger Nano S and Ledger Nano X. In this article, we will introduce why keep your cryptocurrency on exchanges isn't recommend, which hardware wallet is suitable for you and where you can buy it.
Can we safely store cryptocurrency on cryptocurrency exchange?
Crypto has been great for investors worldwide who need a way to easily and securely transfer money. However, the method of exchange and the fact that it’s unregulated makes cryptocurrency a target for hackers. These hackers are occasionally successful when they attempt to steal cryptocurrency from businesses and consumers. Unlike with banks and other regulated industries that can find your money and return it to you if it’s stolen, when your cryptocurrency is stolen, it’s gone forever.
The main targets are crypto exchanges, not cryptocurrency wallets. Cryptocurrency exchanges come and go, and it’s almost inevitable that an exchange will get hacked at one point or another. While cryptocurrencies themselves are very secure, exchanges can be affected by a variety of vulnerabilities, making them a prime target for malicious actors. Let’s take a look at some of the biggest crypto exchange hacks that have happened in history.
Here is a list of complied of cryptocurrency exchange hacks: Link
Therefore, we recommend storing your cryptocurrency in a offline cold hardware wallet for cryptocurrency. A hardware wallet is a special type of bitcoin wallet which stores the user's private keys in a secure hardware device.
They have major advantages over standard software wallets:
What is the most popular crytocurrency wallet now?
Both Ledger Nano X and Nano S are the the most popular cryptocurrency hardware wallet in the world as it is secure, affordable and supports the most coins. The company behind Ledger are a French start-up who released their first wallet in 2014. Since then, they have become a market leader in the hardware wallet industry. In fact, the Ledger wallet is so successful that it has sold over 2 million devices!
The Ledger Nano S is the more affordable of the two which is perfect for the novice cryptocurrency investor who is looking at not spending too much on an expensive hardware wallet. The Ledger Nano X has more features and slightly better security chip than the Nano S.
The Ledger Nano S was released in 2016 and has since sold over 1.5 million of these devices. This device is extremely compact and it can easily fit in your pocket which makes it perfect for traveling. The Ledger Nano X is a premium version of the Ledger Nano S. This device is extremely compact and it can easily fit in your pocket too.
Both the Ledger Nano S and Ledger Nano X supports over 1100 cryptocurrencies, this includes major tokens like Bitcoin, Bitcoin Cash, Binance, Dash, Ethereum, EOS, Litecoin, Monero, Ripple, and many more.
Ledger Nano X and S: Security Features
Ledger takes security seriously. They offer the CC EAL5+ Security. What this means:
Both Nano S and Nano X are fully-certified on the market certified by ANSSI, the French cybersecurity agency. They are also disconnected from your devices like laptops, phones and computers, therefore there is zero chance of an hacker accessing your cryptocurrency as compared to storing them on an online cryptocurrency exchange.
Which should you get? Ledger Nano X or Nano S?
The Ledger Nano S is a great way to jump into the world of cryptocurrency without having to splurge for the higher priced Ledger Nano X or even it’s competitor the Trezor Model T. The safety of this device and the fact that it resembles a simple USB stick makes this this device a popular favorite for members of the cryptocurrency community.
For sophisticated cryptocurrency investors, you may like to consider the Ledger Nano X due to the additional features that are offered in this premium product. However, both X and S are capable in protecting your cryptocurrency. They are both vital in keeping your cryptocurrency safe, must-have if you are hodling cryptocurrency.
How to protect your cryptocurrency now? Where to buy your Ledger Nano X or S?
1) Ledger store (delivery takes 14-21 working days)
- Ledger Link
2) Shopee (delivery takes 1-3 working days)
- Shopee Link
3) Lazada (delivery takes 1-3 working days)
- Lazada Link
4) Qoo10 (delivery takes 1-3 working days)
- Qoo10 Link
5) GeekBite, largest official Ledger authorized distributor in Singapore, delivers in 1-3 working days
- Find us at Shopee, Lazada and Qoo10 by searching "geekbite ledger"
- SG largest authorized Ledger retailer with freebies and full 2 years comprehensive Ledger warranty
Here are 7 reasons why you should buy from GeekBite instead from Ledger