Bitcoin Forum

Hi,

just bought a Ledger Nano S.

I have BTC, LTC, ETH, ARK and various different tokens on various exchanges.

What would be the best way to secure all my coins/tokens?

I do know MEW. What confuses me is that you can access MEW by simply plugging in the Ledger Nano S. Doesn't that mean that anybody who steals my Device could access all tokens in MEW?

Obviously using a hardware wallet is very secure for attacks from the web. But what about physical attacks (burglary)?

Another question: I hold my BTC in Electrum, protected by a strong password. Can I just switch to Ledger Nano with the same wallet or add the Ledger as an additional security?

Congrats. One of the best HW wallets. I'm very satisfied with. Great support, great price, great product.



Thief would have to know your PIN or your seed to be able to operate your funds. (note ledger will block itself when you enter pin 3 times wrong, then you need to restore it using your seed)


I' don't think so. I'm using electrum to operate my Ledger (rather than the original Ledger app). But you have to send your funds from current electrum to ledger.

Buddy, thanks for the answer.

Then I will use MEW I think because this extents the usability because of much more tokens supported.

What if somebody steals my PC with the wallets on it as well as my Ledger? Can I still access my funds?

And what if somebody gets his hands on the recovery phrase?

Yep. MEW + Ledger is ultimate combo.

When he steals your device you just need to use your seed to restore your wallet ( incl. funds).



Then he has full controll of the wallet. (he does not need to know the PIN ).

i'm sorry for ask about this, in case i'm newbie.
is ledger nano a wallet? why also you talk about price, should i buy it, and how much the price to be able use nano ledger.?

You can buy it only. About 70 EUR.

It is a hardware wallet.

Yes. It is HW (hardware wallet) ... for price check: https://www.ledgerwallet.com  (once you have it usage is free)
I don't think it's necessary for ordinary users to have it. But it's great security for your funds so it's up to you. If you have lot of BTC (or other coins) I highly advise you to purchase some.

Alternatives are Trezor or keepkey.  

thanks for the answer, what are trezor and keepkey then?
if i want to buy nano ledger, should i have euro or maybe it accept cryptocurrency to use to pay for ledger nano itself.?

Those are also HW wallets. Do some googling and check youtube how to use them.
I bought ledger using EUR, but I'm pretty sure all of them accept bitcoin (would be weird if not).

Ledger nano s can save only 4 coins at the same time . if then one comes to it, you must first delete one on the nano

This statement leads to missunderstanding. You can't store coins on the nano. You store private keys.
The fact that there is only space for 4 apps on the ledger just means you have to deinstall an app and install the necessary app.
Your coins are always safe. Even when uninstalling an app from the nano s. Your coins still remain 'on the ledger'.
Its just an additional step to get access to more than 4 coins simultaneously, which approximately takes about 15 secs.