BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Ledgers: The Most Secure Tool To Keep Your Crypto Safe 

by BlockNews Team
September 2, 2022
in BUSINESS, CRYPTO, GUIDES, TECHNOLOGY
Reading Time: 3 mins read
A A
1
SHARES
17
VIEWS
Share on XShare in TelegramShare on Reddit

Recent attacks on crypto software wallets were reported to have been valued at 8,000 wallets hacked and over $5 million lost. This is only on the Solana (SOL) blockchain, as other chains have recorded the same losses with the ongoing attacks. 

Significant losses were recorded by mobile wallet users, as their private keys were somehow obtained from exchanges and used to sign in for transaction authorization. 

It is no news that hot wallets, although convenient, aren’t safe. But security is proving a better option than comfort, as many crypto users have begun to seek hardware wallets as a better option. 

What is Ledger? 

Ledger is the leading provider of hardware wallets, offering crypto users a better alternative to secure their private keys. They hold multiple currencies and store private keys online, making it difficult for online hackers to infiltrate. 

Two brands of Ledger USB wallets are available- Ledger Nano X and Nano S. The Nano S supports over 1,000 cryptocurrencies, while the Nano X is best for storing crypto and NFTs. 

Ledger wallets have millions of users and have saved even more from hacks that have become more frequent in the crypto space lately.

Salient Features Of Ledger Hardware Crypto Wallets 

There are several reasons why Ledger wallets stand out from the rest, serving users across various blockchains and exchanges. 

Security 

Ledger wallets let users generate offline security keys and give a recovery seed (seed phrase). The recovery seed and offline keys can only be accessed with the user’s PIN, giving it a nice foundational layer of protection in case the wallet is stolen. 

A tamper-proof chip known as Secure Element is the second layer of security. It protects against hardware attacks by storing the private keys away from the primary device. Should the USB ledger wallet be stolen, the chip includes a random number generator. It makes it difficult for anyone to predict the private keys accurately. 

BOLOS 

BOLOS, an acronym for “Blockchain Open Ledger Operating System” is Ledger’s operating system. BOLOS was launched in 2017 and has since been used by Ledger to provide myriad benefits to users. 

One of the advantages is the ease it provides for users to sign transactions seamlessly. It also allows developers to build secure third-party applications without risking exposure. 

Passphrase

With a passphrase, users can create their unique set of addresses. It is an advanced security feature that allows for the addition of one extra word to the 24-word recovery phrase.  

If a physical hacker steals the wallet and they have the standard 24-word recovery phrase, they will access the stored cryptocurrency easily. With the 25th word chosen by the wallet user, your genuine wallet is hidden. The system sets up a dummy wallet shown to the hacker, keeping your funds safe and undiscovered. 

Simplicity and Compatibility 

Ledger wallets are simple to set up and navigate, with available guidelines for every step. The Ledger live app is available on Android and IOS and can be used with several external wallets. Users can set up their wallets, buy and manage crypto and check the balances in real-time. 

Conclusion 

Ledger’s contribution to security is unrivaled by any other hard wallet provider. Many have tried to copy its performance but without success. With continuous growth and expansion to include better features, it is expected that Ledger will continue dominating the industry in the foreseeable future. 

Tags: BlockchaincryptometaverseWeb3
TweetShareShare
Previous Post

Why GameFi Investors Now Focus on Fun over Profit

Next Post

S7 Station Overview

DON'T MISS THESE! HOT OFF THE PRESS

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?
CRYPTO

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth
CRYPTO

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape
CARDANO

Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

July 18, 2025
Load More

Related News

Here’s Why Dogecoin’s Jumping Again Today

July 18, 2025
PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

PEPE’s Making Noise, But Is RTX the Sleeper Hit of 2025?

July 18, 2025
Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

Is Polkadot Dead or Just Getting Started? Here is the Shocking Truth

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.