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Questions about using a ledger nano s


Greeny
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Had  a hackign scare recentely.  Think everything is ok, but the scare has convinced me to get a ledger nano to store my cryptos on.  Ordered it today.  Wondering if those who use then are happy with them.  Are they easy to use.  What happens if say there is a fire in your house and yours is destroyed, can the data be recovered?  Thanks.

 

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Check the forums, info is all here.

XRP is not ON the USB drive (ledger nano). XRP is on the XRP ledger, on an adress. The drive functions as a savekey to get to the adress and what is on it. The only thing you need to take care of is to keep your 24 word key safe. This is the key that gives you access to your adress. USB drive (ledger nano) is more like a gateway to set up all this. And to access your adress quickly.

I have one and it works very fine, although I dont use it that much.

Edited by Tonnie
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I don't move my XRP around much, I found it very easy to use (I'm no tech expert).

If you didn't order directly from Ledger, then make sure you check the box contents.  If there is a scratch-off card with a pre-generated 24-word seed you need to throw that away immediately  (well documented scam).

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2 hours ago, dadofzara said:

I don't move my XRP around much, I found it very easy to use (I'm no tech expert).

If you didn't order directly from Ledger, then make sure you check the box contents.  If there is a scratch-off card with a pre-generated 24-word seed you need to throw that away immediately  (well documented scam).

Thanks, got it from Amazon, will check for that when it arrives.

 

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Depending on how far you want to go, get two - store 1 in a fireproof safe at home, store 1 in a safety deposit box or something similar and then think about where you want to store your 24 word seed.  Depends on how big your investment is and how far you want to go to protect it.  The 24 word seed is the one to really think about, if someone gets that your screwed, but they would have to realize what it is, so bear that in mind when thinking where to store it.

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A bit time-consuming but for peace of mind you might wish to let the Nano wipe out (3 incorrect pins) then regenerate the key using your

24 words.  Transcription errors do happen.  Then store the 24 words in a super-safe place (I have mine in a safe deposit box at the bank) and

you are in good shape.

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Take a bit of time to learn about paper wallets as well and then decide which route you want to take.

We recommend either a paper wallet or hardware wallet for cold storage of large amounts. Toast Wallet in offline mode allows you to send securely from a paper wallet if/when you need to without entering your Ripple secret into an online device.

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22 hours ago, Greeny said:

What happens if say there is a fire in your house and yours is destroyed, can the data be recovered?

With the 24 word phrase (generated by the Nano when you first use it) you can restore access to your wallet on any BIP39 device including a replacement Nano. Hence the reason not to store the 24 word recovery phrase near the device itself to mitigate the risk of losing both items in the same disaster.

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14 minutes ago, Badger said:

With the 24 word phrase (generated by the Nano when you first use it) you can restore access to your wallet on any BIP39 device including a replacement Nano. Hence the reason not to store the 24 word recovery phrase near the device itself to mitigate the risk of losing both items in the same disaster.

Thanks, will get a safety deposit box once I get everything migrated.

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  • 2 weeks later...
  • 2 weeks later...
On 09/03/2018 at 1:41 AM, MegaNerd said:

sooner or later one of us (probably me cause my life sucks) is going to say, "ya... all my XRP have been lost on my Nano S. 

*insert reason here*

Possibly because of this reason. Just a reminder why the Ledger should only ever be purchased from the Ledger website directly and not eBay, Amazon or any other site which is less reputable.

http://www.bbc.co.uk/news/technology-43489404

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14 hours ago, cuber said:

Possibly because of this reason. Just a reminder why the Ledger should only ever be purchased from the Ledger website directly and not eBay, Amazon or any other site which is less reputable.

http://www.bbc.co.uk/news/technology-43489404

the question now remains... if an honest 15-year old, can hack the Nano, and is responsible enough to admit it... how many professional criminals out there, with endless resources are working on a mega-hack (or already has one completed) that will steal the keys at their beck and call. 

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