Bitcoin Forum

Hey guys, I finally got my hands on a Ledger Nano S, so I made a quick video showing how to get started with it/how it works.

https://www.youtube.com/watch?v=YI1OntWB7wc (https://www.youtube.com/watch?v=YI1OntWB7wc)

This is nice product, but the question is how safe this wallet is, because it works like USB - probably any USB malware can destroy it. The second question is - how altcoins wallets are working all together. Not all altcoins wallets works perfectly. 

No this product but cheaper one. I mean Nano S has two buttons left and right of the oled display where you must press to confirm the action according the company. The same is if you want to put your pin and your seed even though the latter is a headache as I can see from video https://medium.com/@Ledger/ledger-nano-s-interface-first-look-32a76798c97#.ydo1f6wvl.

It could be nice if the @OP had something to tell us i.e his opinion about the quality of this stick and If he had test it with Electrum because I have no big trust in browser's app.

This is very helpful, and thank you for information, maybe I'll ask about it all, and hope you help

Did you ever try setting this up to use with Electrum or another wallet instead of the one they provide. I've read that it is possible and that the wallet they provide is lacking in features.

Thanks for the video on this.
Was wondering which hardware wallet would be good for me to start with. Because trezor is quite intimidating to get for some one just to begin using these wallets when all you have used are web wallets and the bitcoin core on your pc.
That one is expensive anyways and wouldn't want to screw up using it would rather use this nano instead of that does end up happening some how. :D

I love this hardware wallet i think its so easy to use - i've been using it for the past month no issues

Yep im worried about it and i dont belive such solutions at all.
More popular trezor is for example, more people is interested to hack it and create ways to compromise it.
So good old paper wallet of offline storage is good enough :) and free.

Thanks for this, I just received my ledger nano and this is indeed a great help.

yes there is always a chance to be lost all your data, i think, therefore you will always need to keep a copy of all your data somewhere else.

No only the private keys you need to know. Probably nor them, only the seed that is the passphrase where can import in any other wallet say electrum. But you could take a look at their support site and decide http://support.ledgerwallet.com/help_center. 

been thinking about getting one of these, with the rising price of BTC. I guess it works like any other kind of cold storage, but more convenient (and probably less safe) than a paper wallet. But I don't really like paper wallet, because those can't be recovered. nice video!

Great ! so now hardware wallets arent safe either cuz usb virus? I just got my ledger in the mail too. Smh

What then? Electrum offline wallet with online watching only wallet? Or got a better idea?

Velcro said: So good old paper wallet of offline storage is good enough  :) and free. What wallet would u recommend for this? I just want to store coins long term. And maybe add some more coins on occasion.

Wait, isnt the Electrum setup i mentioned also vulnerable to usb virus?

Just had another thought. Maybe only usb storage is vulnerable to usb virus. Hardware wallets have completely different guts. Guts designed to keep attackers out. Any thoughts on this?

What virus are you talking about? If your ledger is destroyed, lost or whatever you can just use your passphrase to recover it using any BIP39/BIP44 compatible wallet.

YOUR RECOVER SHEET = PAPER WALLET  ... and even safer   

I mean: In case of regular paper wallet the attacker just scan the private key with ANY WALLET and he is ready to spend your BTC,
but the HW wallet recovery passphrase is set of words and the attacker has a bit harder way to your BTC ... he has to know how to use it.

That is why I didn't used the original recover sheet to backup my passphrase ( due to ledger logo on it  .... this would direct the attacker).
In addition, I did not write down the words in correct order. I made an easy memorable change ( e.g you can swap first and second word, add some word before and after etc.) ...  hopefully in the future I will remember this change :)   

The device itself is just to ease the usage (sending receiving)
 

Is this necessary if using Electrum? Or are these 2 different kinds of wallets?

No, both are 2 different kind of wallets.
Electrum is standalone wallet. You don't need ledger to use electrum but you need electrum (or other supported wallet) to use the ledger.
 
Ledger is HW wallet (physical device) as such it needs an interface (a GUI which turns the coding to human understandable form) to communicate with bitcoin network and one them is electrum ( you can also use mycelium or the original ledger wallet app).

Check the ledger website for more details about supported wallets.

Hi Nice video,  Shared the video on twitter

thanks for replies, but now i have bigger issue, much bigger!

my coins are gone.

someone said to delete the app and reinstall, so i did that and it is asking for seed, naturally, but since i set this account up with ledger nano s they dont have my seed right? so what now?

please help! im wiggin hard!

brad

Calm down, I'm pretty sure your coins are not gone. Just misundertood something.
Describe more into detail way how you proceed when connecting your Ledger with App.

EDIT: we should better discuss this in your thread: https://bitcointalk.org/index.php?topic=1830208

Hey, Great video, cool shades, thanks.

Nice work with the video.