A Ledger Wallet is a hardware wallet designed to store cryptocurrency securely. It is a cold storage device, meaning it keeps private keys offline, protecting them from hacks, malware, and phishing attacks.
Key Features of Ledger Wallets:
- Security: Uses a secure chip (CC EAL5+ certified) to protect private keys.
- Offline Storage: Private keys never leave the device, reducing the risk of online attacks.
- Multi-Currency Support: Supports thousands of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and many altcoins.
- User Authentication: Requires a PIN code and sometimes a physical confirmation for transactions.
- Integration with Ledger Live: A software app that allows users to manage their assets, check balances, and perform transactions.
- Backup & Recovery: Comes with a recovery phrase (seed phrase) to restore funds in case of loss or damage.
- Compatibility: Works with computers and mobile devices via USB or Bluetooth (for models like Ledger Nano X).
Popular Ledger Wallet Models:
- Ledger Nano S Plus: Affordable, basic model for secure crypto storage.
- Ledger Nano X: Advanced version with Bluetooth, larger storage, and improved usability.
- Ledger Stax: Newest model with a touchscreen and enhanced features.