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What is your take on the Ledger?

Bitcoin Reddit

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I would like feedback on the Ledger to help those who are interested in using this hardware wallet.

I have looked into the Ledger and here is a quick overview:

A closed source hardware wallet where you have control over your private keys.

The Ledger uses a component called Secure Element, a type of chip also incorporated in passport, payment systems, credit cards etc with the intention to provide an extra layer of security. The chip is designed to protect our data while implementing a high resistance to hacking. In the case of the Ledger, it is used to generate and store private keys for the user’s assets.

The Ledger Nano S supports around 107 cryptocurrencies and more than 100 tokens and appears to be better for beginners allowing users to manage up to 3 currencies at once. The Ledger Nano X supports more than 1100 cryptocurrencies, it offers a larger screen than the Nano S and extra features such as possible Bluetooth functionality and the ability to manage up to 100 coins at a time.

How has your experience been using the Ledger, and would you recommend?

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