FAQ 24 – What is Ledger?
Ledger, a secure crypto wallet
Ledger is specialized in the design and production of hardware wallets (which means cold storage). Indeed, a wallet is an electronic wallet allowing you to store cryptocurrency. This French company describes itself as “a fast-growing company that develops security and infrastructure solutions dedicated to cryptocurrencies and blockchain applications for individuals and businesses, leveraging a unique proprietary technology”.
Thus, its main mission is to store and secure digital assets. Ledger can store a huge number of different cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple…
Ledger requires a signature and approval from the crypto-currency holder for any transaction. The wallet is locked with a SIM code. Ledger is a device that looks like a USB stick.
The different hardware wallets available from Ledger
Nano S & Nano X, the two types of Ledger wallets
The Nano S wallet is combined with the Ledger Live interface to ensure security and control of digital assets. Released first, it supports crypto-currencies such as Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS y Stellar… There are 2 different ones which are Ledger Nano S and Nano S plus.
The Nano X wallet has the same features as the Nano S, but has more memory, battery and has a bluetooth system. This means that crypto-currency owners have a private key to access their wallet.