I recognize the importance of safekeeping one's cryptocurrency assets and I was ready to buy a Ledger wallet in May when the issue about the seed phrase recovery feature being a bad idea broke out which prompted me to postpone the purchase and it dragged on for a long while until I read a poll on threads by onealfa where he asked how much % of your portfolio are you willing to spend for the sake of wallet security.
That question was like a hard kick in the arse and made me finally hit the "buy" button for my very first cold wallet. It was quite tough to decide which brand and model to buy but I considered the Ledger Nano S before since some reviews said it is good for beginners.
I watched more reviews earlier this month to compare wallet features and such. Among the brands, I was still drawn to Ledger because it supports SHIVE. Then the next challenge was which model. Would it be Ledger Nano S? Should I go for the Nano X? There was a Nano S Plus which I read has similar features as the Nano X but the price is a lot cheaper.
Was able to make up my mind after watching the Crypto Renegade review, thanks again to a shared link by onealfa. He's sharing good stuff on threads so I do check his timeline now and then.
The review discussed the fundamental differences between Nano S and Nano X. The downside I heard of the Nano S is that it has a very small LED screen so one needs to wait for it to scroll or load up to authorize transactions. Nano X has a larger screen that shows the details without the need to scroll. While both devices support the same number of coins (1100+) and applications, the Nano S can only hold 3-4 coins at once (small storage capacity) while the Nano X has a larger capacity and can store up to 100 coinsat once.
Additionally, Nano S doesn't have wireless connectivity (it needs to be connected to a computer to be able to sign transactions) while Nano X supports Bluetooth connectivity and can also be tethered to Ledger Live.
Prices?
While the indicated prices on the Ledger shop are cheaper, they are still a bit costly when buying from authorized resellers here in the country. Nano S is around $127+ and Nano X is approximately $225.
I opted for the X. I guess it's worth it, considering it levels up the security of my assets. I am aware that there are still some trade-offs with this brand compared to others but this is my first and I will definitely continue to learn along the way.
I was to do an unboxing post but hell, I don't know what I'd be talking about on video so guess this is just it, lol!
It feels good to be able to get out my crypto off the centralized exchanges. and keep them a lot safer through the device. My next concern would be how and where to keep those seed phrases secure and away from danger (i.e. water, fire, deterioration, etc). Still have a lot to learn!
For infotainment only.
Posted Using InLeo Alpha
I just learned about the cold wallet after reading your post. hehe
I am always reading to learn about the crypto space and I am glad I came across this post ma'am.
Have a beautiful Saturday.
Oh, it's good to know you found something here. Thank you, Amie and I wish you a wonderful weekend too.
!LUV
❤
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Thank you lots, I always appreciate the support.
I had no idea this existed 😲
Did you mean Ledger? 😊
Congratulations to you for buying first cold wallet. Still now the security of cold wallet is higher compared to other wallet.
In my country cold wallet is not available and I need to order it from abroad if I want to buy. And the complications also huge in that case.
!PIZZA
Thank you. It's a long time coming. Had to go for it or I'd postpone again, hehe.
Sorry to hear about the difficulty of acquiring one in your country. There is no reseller indeed over there. Hope you will be able to find one someday soon.
!PIZZA
Learn how to use the '25th' word/passphrase. This adds a second layer of security, but you need to be able remember it (by you can choose it yourself).
For seed handling, DON'T opt into the ledger recovery program. From memory, it is Shamir, but with centralised scripts holding the shards.
The 25th word makes the loss of the 24 seeds less problematic as well.
Oh wow, thank you for this. I will check that out after this.
EDIT: Just did it, yay! It would probably take me time to discover it but thank you for letting me know this early.
And yes, I won't be opting for the recovery.
You should also test your recovery. Send a bit of dust... Wipe the ledger and then do a restore. Better to do it now with dust instead of in the middle of an emergency!
Thanks again for that. And yes, I did my first test of some dust amounts of BCH and will definitely do a wipe and restore to see if things are working. Tons of things to learn on this adventure and I appreciate you for your help :)
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STOPor to resume write a wordSTARTThank you. I appreciate it.
Wow! Sana magkaroon din ako ganyan. Congratulations. Deserve mo yan.
You sure can :) Need talaga pag medyo nakalikom ka na ng crypto hehe
Ledger wallet is very safe and secure which has not been hacked till date.
That's a good record :)
!PIZZA
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STOPI wish you best of luck for the security of your coins ;)
Thank you lots and I wish you the same.
!PIZZA
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If a person wants to work in this industry, they have to manage passwords etc very well.
Yes. Security is paramount in this field.
Yeah.
You really took a great step I strongly believe which you will not regret. It is really a good one
Thanks. I've always wanted to have one but always postponed it so it feels good that I finally got it.