Ledger Nano S Users.. Please answer these questions

[amit_k]

I will be getting my Ledger Nano S in a few days. I just have a couple of questions.

1. I've been reading on forums where people are complaining about the USB cable being loose & not working for some users. In a couple of years if the USB cable gets twirled n twisted & doesn't work.. what are we supposed to do? Buy a new ledger & use its cable? What if they launch new products & they dont manufacture Ledger Nano S at that time?

2. If I loose my Ledger & try to backup with my 24 words phrases on a new device.. are the private keys & my XRP coins on the ledger nano cloud server/database? If yes, then can't the ledger nano s database/server be hacked & our coins stolen?

3. I plan to hold XRP till 2020, at the moment we would use the Ledger Nano S apps on chrome & desktop as their sites are working fine. If 2 years down the line, if ledger nano site goes down for any reason or they run out of business then what happens to our coins? How would we login to get our coins back?

I know these questions are silly but since its a long term investment, it'll be nice to have all my doubts cleared.

Thanks

[ZX81_1k]

I've been wondering these too. What happens if I get a replacement Nano S and they've withdraw support for a coin?

Or, like you say, I need a replacement Nano S but they've gone out of business. Are the wallets lost forever?

[Khaleesi]

@amit_k @Badger You might want to do some research...it’s important to know as much as you can about your new device. Use the search function at the top right of this site to find many previous discussions on this subject.

best wishes to you both

 

[Sriram]

I had gone through videos on Ledger Nano S, the way to use it and configure along with storing the XRP. I have the following 2 questions, also the same which was unanswered when some one else asked this in the video websites. So I thought of putting it here. (Please bear if its too stupid)

1. The passphrase - Can we write our own 24 words ourselves or compelled to choose any 24 words from predefined (?) list of words which comes along with the device? If I can write my own words, I would feel safe, but if it's a predefined list of let's say 100 words from where I need to choose 24, wouldn't that be fishy?

2. Is it safe to use Chrome extensions for Ledger Nano S wallet manager and configuration setup, as one of the video viewer raised the question that google can still access cookies and do some storing of some thing (which I don't understand but feeling some one still can take something from my cookie).

 

[ohsomofo]

@Badger You do not need a special USB cable when connecting a Ledger Nano S to a computer so long as it provides both power and data (which is pretty much everything nowadays). If you’re connecting it to a phone, however, you will need a USB OTG adapter:

https://www.ledgerwallet.com/products/4-ledger-otg

Here are 2 reviews that provide more information about your other questions, but basically you can recover your funds with only the seed using compatible wallet software that you’ll find listed in the second link below. Mycelium is one such software wallet that’s compatible.

https://www.buybitcoinworldwide.com/wallets/ledger-nano-s/

https://www.finder.com.au/ledger-nano-s-wallet-review

 

@Sriram You cannot choose your own 24-word seed but see the end of this post for why it doesn’t matter. However, the newest version of the firmware allows for passphrase support as a hidden wallet inside your main wallet. This allows for an extra measure of security. The main wallet uses a standard 24-word seed while hidden wallets are created with a passphrase that would be like adding a 25th word to the seed. You manually enter this passphrase after accessing your main wallet from a menu on the Ledger. 

There’s an added benefit to this structure in that you can keep your main wallet setup with low funds and if forced to reveal your pin for your wallet, the attacker will only have access to the main wallet. Your hidden wallet will stay hidden until you manually access it through the menu setting and there’s no way for anyone to know whether you’ve setup hidden wallets. I’ve not used this feature so you’ll have to read up on it yourself.

https://ledger.zendesk.com/hc/en-us/articles/115005214529-Advanced-Passphrase-options

And finally the following link can be used to recover the private keys from your 24-word seed as well as passphrase protected wallets. I recommend following the directions for doing this offline if you must and boot using a live cd that doesn’t leave any trace on your hard drive as you will have defeated the whole purpose of using a hardware wallet if don’t.

https://www.ledgerwallet.com/support/bip39-standalone.html

Just for fun, the following link gives a breakdown on how secure a 24-word seed is. Hint: it’s pretty darn secure.

 

[khomsky]

when I was having problems with my ledger nano s everything I read said it could be the wire. I think many who are suggesting this do not have wire problems

make sure:

1. only the ledger manager app is open, close ripple ledger wallet, bitcoin, eth app etc.

2. unplug and plug in the nano s while ledger manager app is open

3. if trouble installing or uninstalling applications, close ledger manager app, unplug nano s and re open the app then plug in the ledger to proceed

with most electronics and software if it isn't working as intended cut power/restart and then let it reconfigure itself. 

[XRPisVELOCITY]

Closing the ledger manager app after opening the ripple edger wallet, then proceed.  At least for me that was the only way I could get it to work.  Maybe it's just me.  lol