Nano Ledger S Compatibility with Altcoins

[jerry0]

So i haven't used my nano ledger s for quite a bit. I noticed recently that the nano ledger s supports many altcoins now where it didn't use to back then.  Back then i had altcoins but didn't send it to nano ledger s because they didn't support it. 


But now, it seems like it supports a huge list... how did this happen?  Was it recent or how long ago?  I knew the nano ledger s supported more altcoins than most hardware wallets but back then i thought, well certain coins i want it still doesn't support.


As of now, you could store up to 18 altcoins in one nano ledger s device is that correct? 


So say you have altcoins that are in an exchange or your own wallet, let say coss and funfair... i don't have these altcoins, i just looked the list of coins that nano ledger s supports and saw these 2 coins as these were 2 coins i thought about buying but never did.  So say i buy these 2 altcoins in an exchange.  I could keep it there or move them to nano ledger s.  So i have to download both of these wallets on the nano ledger s correct?  Then send them from exchange to the nano ledger s?  Now here is what im a bit confused.  I use nano ledger s with chrome app as i have not downloaded ledgerlive yet.  But -when i download ledgerlive, i notice that many altcoins don't work with ledgerlive.  So does that mean i have to use the chrome app with those other altcoins like coss and funfair?  Because it seem like ledgerlive is only compatible with a limited amount of coins only from looking at the list?  So that mean with btc, i use ledgerlive... but with other coins, i have to use the chrome app?  However what confuses me is people say they will close the chrome store.  So if they do that, then how you use those other altcoins.


Also i thought about something else.  Isn't it better to maybe store your altcoins in an exchange or different exchange so you have lesser risk?  But of course if you keep everything in the nano ledger s, it should be safe.  And exchanges are not that safe but im talking about like bittrex and binance.  But to those of you who have a nano ledger s, do you basically keep all your coins in it rather than keep it in exchange assuming you are not trading?  Obviously if you are trading daily, that would be foolish because you would be paying fees to keep transferring funfair or coss or any altcoin you have from wallet to exchange account daily.


But if you are holding, should you 100% send every coin you have to your nano ledger s?  Example say you have a waves wallet and keep waves there.  I assume no point of keeping it there and just send it to nano ledger?

[TryNinja]

But now, it seems like it supports a huge list... how did this happen?  Was it recent or how long ago?  I knew the nano ledger s supported more altcoins than most hardware wallets but back then i thought, well certain coins i want it still doesn't support.

They are working on adding as many coins as possible. Many of them are just a fork of already supported coins, so adding them is pretty easy.

As of now, you could store up to 18 altcoins in one nano ledger s device is that correct? 

According to this page, they actually support 47 coins: https://www.ledger.com/pages/supported-crypto-assets

So say you have altcoins that are in an exchange or your own wallet, let say coss and funfair... i don't have these altcoins, i just looked the list of coins that nano ledger s supports and saw these 2 coins as these were 2 coins i thought about buying but never did.  So say i buy these 2 altcoins in an exchange.  I could keep it there or move them to nano ledger s.  So i have to download both of these wallets on the nano ledger s correct?  Then send them from exchange to the nano ledger s? 

Yes.

Now here is what im a bit confused.  I use nano ledger s with chrome app as i have not downloaded ledgerlive yet.  But -when i download ledgerlive, i notice that many altcoins don't work with ledgerlive.  So does that mean i have to use the chrome app with those other altcoins like coss and funfair?  Because it seem like ledgerlive is only compatible with a limited amount of coins only from looking at the list?  So that mean with btc, i use ledgerlive... but with other coins, i have to use the chrome app?  However what confuses me is people say they will close the chrome store.  So if they do that, then how you use those other altcoins.

No. You can use the Ledger Live to send and receive the currently fully supported coins (e.g BTC, BCH, ETH) and need a third party wallet to use the other coins (e.g NEON for NEO). I already said that in a previous post you asked the same question... Everything that needed the Chrome app is supported in the new Ledger Live wallet.

Also i thought about something else.  Isn't it better to maybe store your altcoins in an exchange or different exchange so you have lesser risk?  But of course if you keep everything in the nano ledger s, it should be safe.  And exchanges are not that safe but im talking about like bittrex and binance.  But to those of you who have a nano ledger s, do you basically keep all your coins in it rather than keep it in exchange assuming you are not trading?  Obviously if you are trading daily, that would be foolish because you would be paying fees to keep transferring funfair or coss or any altcoin you have from wallet to exchange account daily.

It's never better to store your coins in an exchange. That's a fact.

But if you are holding, should you 100% send every coin you have to your nano ledger s?  Example say you have a waves wallet and keep waves there.  I assume no point of keeping it there and just send it to nano ledger?

Obviously that's the best option.