How does Bitcoin work?

This is a question that often causes confusion. Here's a quick explanation!

The basics for a new user

As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once.

Balances - block chain

The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography.

Transactions - private keys

A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining.

Processing - mining

Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends.

Going down the rabbit hole

This is only a very short and concise summary of the system. If you want to get into the details, you can read the original paper that describes the system's design, read the developer documentation, and explore the Bitcoin wiki.

The Complete Guide To Claiming Bitcoin Gold On Ledger Nano S

When it comes to the most popular cryptocurrency wallet, nothing beats the Ledger Nano S and Ledger Blue.

But it is much more than the security that these hardware devices offer. They are also one of the few wallet providers who keep adding support for more cryptocurrencies as soon as major forks happen. This makes it easier for users like you and me to claim the new forked coin. In the past, they did this with Bitcoin Cash, and now they’ve done it with Bitcoin Gold.

Recently, Bitcoin Gold was forked out of Bitcoin, and today, the Ledger team launched support for Bitcoin Gold.

Update: We have added a video tutorial for the same.

We have covered the full backstory of Bitcoin Gold in the below articles, so do consider going through them if you want to know more:

In this tutorial, I will show you exactly how you can claim your free Bitcoin Gold using the Ledger Nano S. This same guide also works for the Ledger Blue.

So, without further delay, let’s follow the steps and claim our free BTG coins.

The Step By Step Guide To Claim BTG Using The Ledger Wallet:

Note: The Ledger team has advised that “THE BITCOIN GOLD NETWORK IS NOT YET REALLY STABLE. THEREFORE LEDGER DOESN’T PROVIDE ANY SUPPORT FOR BITCOIN GOLD. USE AT YOUR OWN RISK.”

See the Ledger team’s tweet here:

Bitcoin Gold support on Ledger is available! More information about how to access your BTG coins here https://t.co/Z5l9qRf0WT WARNING: the network and explorers are not reliable at all. Ledger declines any responsibility and doesn't guarantee anything regarding BTG support.

Nevertheless, here is the guide you can follow, and I will update you as I hear more from the Ledger team and other members of the CoinSutra community.

Connect your Ledger Nano S or Ledger Blue to your computer and open the Ledger Manager app.
At the bottom of the screen, you will see the option to install the Bitcoin Gold application.

Click on the Install sign (down arrow), and you will see a screen like the one below.
Now, on your Ledger wallet, allow the installation.

If you see an error saying “Unable to install application. Insufficient remaining space”, you need to uninstall any installed app to create space for the new app. The Ledger allows only 5 applications to be installed at a time.

If you need to use more applications because you manage a lot of different coins, the Ledger Manager will be the interface to use. Even if it is a bit tedious, these steps only take a few seconds.

Note: Don’t worry if you uninstall an application you already used because your coins won’t be lost. Uninstalling an application from your device won’t erase your wallet and the coins you already have on it. You’ll be able to access your wallet anytime by reinstalling the application.

Once you have created enough space, install the Bitcoin Gold app.

Once the app is installed, open the Bitcoin Ledger app and open the Bitcoin Gold app on your Ledger. At the bottom, you will see the option for the BTG Split tool. Click on it.

This will show a pop-up saying:

Now, click on Legacy or SegWit depending on how your Bitcoins are stored and the Ledger will start syncing to give you access to your BTG.

Now, you can hold or sell your BTG coins. My recommendation is to dump the coin ASAP as more dumps will happen once everyone has access to their coins causing the price to fall significantly. However, if you are one of those lucky people holding a large number of Bitcoin (and now BTG), you can consider holding 5-10% of your total stake.

Update 1: Transferred BTG to Bleutrade exchange (First time using it. Don’t use this one for any purpose other than BTG until we do thorough research). Waiting for the transaction to confirm.

Update 2: SegWit holders may face some issues.

We have pushed a fix regarding BTC SegWit signatures on the Ledger Wallet Bitcoin Chrome app (v1.9.10) BTG SegWit is still having issues

Update 3: SegWit Issue fixed.

BTG Segwit has been fixed. Update the BTG device application from Ledger Manager (delete / install again) to version 1.1.15. Sorry for the trouble.

Here are sites on which you can sell Bitcoin Gold or exchange for BTC:

We are still testing and will keep you posted as we discover anything new. Meanwhile, do share your experience in the comment section below.

Update 1: I have used Bleutrade to convert my BTG into BTC and was able to withdraw my funds.

Don’t forget to share this help your friends on Facebook or Twitter in claiming their BTG!

US Search Mobile Web

Welcome to the Yahoo Search forum! We’d love to hear your ideas on how to improve Yahoo Search.

The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate.

You are now required to sign-in using your Yahoo email account in order to provide us with feedback and to submit votes and comments to existing ideas. If you do not have a Yahoo ID or the password to your Yahoo ID, please sign-up for a new account.

If you have a valid Yahoo ID and password, follow these steps if you would like to remove your posts, comments, votes, and/or profile from the Yahoo product feedback forum.

Vote for an existing idea ( )
or
Post a new idea…

Hot ideas
Top ideas
New ideas
Category
Status
My feedback

Improve your services

Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

Ledger Wallet Users Can't Access Their Bitcoin Cash

Ledger wallet users have been unable to access their bitcoin cash since Monday, and some users believe the hardware manufacturer is dragging its feet.

According to complaints lodged by users on Reddit, they are unable to access their bitcoin cash wallets, cannot view their balances or make transactions. The outage is halfway through its second day, according to a user who posted about the issue shortly before midnight Tuesday.

20 hours, this issue is still not resolved. I can't access my BCH wallet at all (no transactions show up, despite being visible on an explorer. This seems like a pretty major outage considering the coins don't even show up, much less being able to spend them."

An incident status post, which first acknowledged the problem on Monday at 6:30 p.m. UTC, reads, "The new version of Bitcoin-ABC (bitcoin cash node) breaks compatibility with our parser. As a result balances shown on the Ledger Wallet are incorrect. Our engineering team is currently working on a fix."

Subsequent updates outlined the team's efforts to bring the wallet back up. The latest one as of press time, published at 6:56 p.m. UTC Tuesday, said "the blockchain explorer has been restarted successfully, and is now cleaning every transaction" that happened since a recent block.

However, the update also estimates that it will take at least an hour before the startup can begin syncing.

Ledger CEO Eric Larcheveque told Reddit users that the company is reindexing its bitcoin cash nodes, and advised users to utilize the Electron Cash wallet to access their funds in the interim.

However, users complained that the Electron Cash wallet is also not working properly.

Likewise, a comment attributed to Ledger CTO Nicolas Bacca which said that he is "not following [the issue] closely," triggered criticism from users.

"It's disappointing to see such an issue taking so long to resolve, I would've hoped for more professionalism from Ledger, but it seems like they treat bitcoin cash as a minority token with a very low priority," one person wrote.

Error code image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

How to Transfer Bitcoin to a Ledger Nano S

So, you’ve got your Ledger Nano S configured, the Bitcoin wallet app installed, but you’re still not sure how to get Bitcoin into your wallet? No worries – we’ve got your back. In this guide, we’ll walk you step-by-step through the process of how to transfer Bitcoin to a Ledger Nano S.

If you’re looking for instructions on how to configure your Ledger, you can check out our Setup Guide here.

How to Transfer Bitcoin to a Ledger Nano S

Step 0. First things first, connect your Ledger to your computer with the USB cable and enter your pin code.

Step 1. Open the Ledger Wallet Bitcoin app on your computer. It will most likely show a message to connect and unlock your Ledger wallet.

Step 2. Navigate to and open the Bitcoin app on your Ledger using the buttons at the top of the wallet.

*NOTE: If you can’t find the Bitcoin app on your Ledger, you may have to download it from the Ledger Manager.

Step 3. When first opening up the Bitcoin wallet, it gives you the option to choose Bitcoin or Bitcoin Cash. Since we’re receiving Bitcoin, choose Bitcoin.

Step 4. Then, you have the option of Legacy or Segwit. In most cases, SegWit is the better choice as it has faster transaction times and lower fees.

Step 5. Once in the wallet, you should see your account balance, recent transactions, as well as a few menu options at the top. Click “Receive” at the top of the wallet app. A pop-up menu should appear.

Step 6. In the pop-up, choose which account you want to receive your Bitcoin to (you probably only have one option). Then, click “Display Address On Device.”

Step 7. Next, you’ll see a QR code and address on the pop-up. Make sure that the address on the pop-up matches the address that your Ledger is showing. Some users have reported malware in which a hacker will spoof your address replacing it with their address instead.

Step 8. If both addresses match, you know the address is safe to receive funds. Enter this address (or scan the QR code) into the appropriate place of the funding source you’re using.

Step 9. With that, send your Bitcoin.

Step 10. Once your transaction is confirmed, it’ll appear in your transaction history and your account balance will be updated.

Additional Ledger Nano S Guides

That covers the basics on how to send Bitcoin to your Ledger Nano S. Check out our other Ledger Nano S guides to learn more about the wallet:

How to Send Bitcoin from a Ledger Nano S

Whether it’s to sell for fiat, pay someone else, or give a gift, there may come a time when you want to transfer Bitcoin out of your Ledger Nano S. Well, we’ve got good news – the steps are almost identical as using it to receive Bitcoin. In this guide, we’ll take you through the process of how to send Bitcoin from a Ledger Nano S to another wallet of your choice.

How to Send Bitcoin from a Ledger Nano S

Step 0. Before you can send any Bitcoin from your Ledger, you have to first plug it into your computer and enter your pin code.

Step 1. Next, o pen the Ledger Wallet Bitcoin app on your computer. You’ll probably see a message to unlock your Ledger wallet.

Step 2. O pen the Bitcoin app on your Ledger. If you don’t see Bitcoin as an option, download the app from the Ledger Manager.

Step 3. The wallet app on your computer may present you with an option to choose either the Bitcoin or Bitcoin Cash chain. Since we’re sending Bitcoin, that’s the option to choose.

Step 4. It could also give you the choice between Legacy and Segwit addresses. Choose whichever type of address you use to store your Bitcoin (most likely Segwit).

Step 5. On the next screen, you’ll find your account balance, transactions, and a few menu options. Click “Send” at the top of the screen, and a pop-up should appear.

Step 6. Enter the amount of Bitcoin you want to send, the recipient’s public address, and choose which account to send it from. You can also scan a QR code for the address by clicking on the camera icon in the bottom left-hand corner.

Step 7. Next, choose how much you want to pay in fees. The more you pay, the quicker your transaction will go through. You have three options to choose from or you can set custom fees.

*NOTE: If you set custom fees too low, it’s possible that the miners will never confirm your transaction. We recommend sticking with one of the three options that Ledger provides.

Step 8. Hit “Send”. Your new transaction will appear in your transaction history and your account balance will reflect the change.

Additional Ledger Nano S Guides

And with that, you should now be able to send Bitcoin from your Ledger Nano S to another wallet. Check out our guides below for any additional Ledger Nano S help:

Ledger Nano S Review

Lack of support for passphrases

Before we get into the main review, let’s go over who the Ledger Nano S is good for:

Cryptocurrency investors who want the easiest and cheapest way to secure cryptocurrency
An investor who plans to store many different coins

Quick Review - What is a Hardware Wallet?

Before we dig into the Ledger Nano S, here is brief refresh on what a hardware wallet does:

Hardware wallets are secure, offline devices. They store your cryptocurrency offline so you can’t be hacked.

Think of a hardware like your bank account. A mobile wallet–one you’d install on your smartphone–is more like your wallet that you carry cash in.

Your hardware wallet is used to secure larger amounts.

A Great Tool for Cryptocurrency Investors

Cryptocurrency investors are responsible for securing their own funds.

And if you’re looking to secure cryptocurrency, the Ledger Nano S is one of the easiest and cheapest ways.

Legendary Bitcoin author, developer and speaker Andreas Antonopoulos believes that hardware wallets are the best storage solution for the average person:

I'll go on the record and say the Hardware Wallets are better than software and paper wallets for all except a handful of opsec/infosec experts. Security isn't about absolutes. It's all relative and complexity/operator skill are of the utmost importance.

— Andreas M. Antonopoulos (@aantonop) March 27, 2018

There are more complex solutions, but if you’re not a top of the line developer, losing money by accident is more likely than actually being hacked.

The Nano S and other hardware wallet simplify security for you.

Cryptocurrency Investors Who Invest in Lots of Different Coins

The Ledger Nano S is the best hardware wallet option if you plan on investing in many different cryptocurrencies.

Here’s an overview of all the coins it supports:

The Ledger Nano S supports more coins than its two competitors:

TREZOR and KeepKey.

Since we get a lot of requests:

Yes, the Ledger Nano S does support Ripple. As of now, it’s the only hardware wallet supporting XRP.

Background on Ledger - A Bitcoin Security Company

Ledger has been creating hardware for Bitcoin security since 2014.

Since then it has received over $85 million in funding from some of the world’s top investors. Its most recent raise was for $75 million in January 2018.

According to Ledger’s website, they have sold over 1,000,000 Ledger Nano S devices and have clients in over 165 countries:

Device Appearance

The Nano S’s screen means, like other hardware wallets (like KeepKey or TREZOR), it can be used even on a computer that is infected with malware.

Here’s a picture of the Nano S just so you can see how it looks:

What’s in the Box

The Ledger Nano comes nicely packaged and includes the following items:

Ledger Nano S
1 micro-USB cable
Lanyard for wearing device around neck
One keychain and key ring
Recovery sheet for writing down seed

The Ledger Nano S is priced in euros at €79, which is about $98 USD. This also includes free shipping to almost every country.

The S’s $95 USD price tag makes it the cheapest among the three hardware wallets with screens.

Make sure you NEVER buy a Ledger Nano S or any other hardware wallet from eBay.

Only buy from the Ledger store or from Amazon.

The Nano S is $95, and a TREZOR or KeepKey will both set you back $99.

Here is the Nano S compared to the other three popular hardware wallets:

The real question is:

Does the Ledger Nano S’s lower price tag come with any security tradeoffs?

The next few sections will outline some of the S’s security features.

Physical Buttons

Like the TREZOR, the S also has two physical buttons which add to its security.

In order to confirm a payment you need to physically press both buttons at the same time. This makes it so no hacker could hack into your device and confirm a payment.

The Ledger Nano S also requires the user to create a PIN code on setup.

The PIN code helps prevent the loss of bitcoins in case you lose your device.

A stranger would not be able to send bitcoins from your Nano S because he/she would not know your 4 digit pin code. After three incorrect guesses of the pin code the device wipes itself.

Anti-Tampering Seal

The box ships with tamper-proof tape around the packaging. If this tape appears to be altered in any way, it is likely someone tampered with your device before it arrived to you.

Be sure to email level to return it and request a new device!

Offline Storage and Backups

Let’s get back to the main purpose of a hardware wallet.

It stores your keys in its offline, secure environment.

Bitcoins and other cryptocurrencies stored on an online computer are an easy target for hackers, especially if you use Windows.

When you use a hardware wallet, which stores your bitcoins offline, then your coins are stored offline and out of reach from hackers.

The Nano S also lets you create backups of your wallet by writing down a 24 word phrase.

Ledger provides paper to write down your phrase:

This phrase can be used to recreate your wallet in the event that your Nano S is lost, damaged or stolen.

For the extra paranoid user, you may want to store your seed in a fireproof safe. Or, get something like the Billfodl.

The Billfodl is stainless steel. It allows you to backup your seed on material that is much more resistant to fire, water and other potential dangers to your backup seed.

For example, one user had $1 million worth of cryptocurrency backed up on a seed. His house was flooded, and the water destroyed his paper backup seed. This would not have happened had the user been storing his backup seed on stainless steel like the Billfodl.

The Billfodl protects your seed from both fire and potential floods. For $80, this can be worth it depending on the amount of cryptocurrency you’re storing on your device.

Passphrase Support

This is the feature I’m DYING for Ledger to add!

One feature that the Ledger Nano S lacks is passphrase support.

Passphrase support lets you add custom text onto your 24 word recovery phrase.

As we mentioned early, if anyone gets access to your recovery phrase they also have access to your bitcoins.

A passphrase prevents this because in addition to the 24 word recovery phrase, a thief would need the seed plus the passphrase used to create the wallet, which is memorized by the wallet’s creator.

The good news is, Ledger plans to add this feature to the Nano S soon.

The Nano S also does not run on a battery, meaning when it is not plugged in it is completely offline and turned off.

Setup Guide

Setting up the Ledger Nano S is actually quite easy.

Here is a video if you prefer that, otherwise follow along with my steps below.

First, plug it into your computer to turn it on. You’ll need a micro-USB cable.

You’ll be asked to create a four-digit pin code using the device’s screen. You can slide the numbers higher or lower using the buttons.

Once you reach the desired number, press both buttons at the same time to select the next number. You’ll then have to repeat this process to confirm your pin code.

After you’ve set a PIN code, you’ll be asked to write down the Ledger’s 24-word recovery phrase. Words will show up one at a time, just click the right button to see the next word.

Ledger provides a piece of paper you can use to write down your phrase:

The Nano S will then ask you to confirm your seed by asking for two random words of your seed.

If, for example, it asks for the 10 th word of your seed, scroll through the words and press both buttons when you see the 10 th word of your seed.

Make sure you write down your seed and store it in at least 2 separate physical locations.

Install Ledger Apps

You’ll need to install the Ledger Manager app to interact with your Ledger Nano S from your computer.

The manager app allows you to install software onto your Ledger Nano S for different coins.

Then, you’ll also need one of the three other apps depending on which coins you’re using:

Now, let’s say you want to receive bitcoins.

First, open the Bitcoin Ledger Application.

On your Ledger Nano S’s screen scroll through the options and press both buttons on the “B” icon that says “Bitcoin”.

Once you do this you should now see a wallet interface in the Ledger Bitcoin app. And that’s it!

You can now receive payments to your Ledger Nano S.

Recovery Phrase Notice!

Once your wallet has been setup and bitcoins are sent to your hardware wallet, anyone who has access to this recovery phrase can gain control of your bitcoins.

Make sure you don’t share your seed with ANYONE!

Keep it in a safe place that only you have access to.

Why is the Nano S’s screen Important?

The S’s screen helps with a few things:

When you setup your Nano S, the wallet generates a recovery phrase. The recovery phrase is a complete backup of your wallet.

On a normal Bitcoin wallet, like an iPhone wallet, the recovery phrase is displayed on your phone’s screen.

In most cases your phone is probably secure enough.

Since your phone is connected to the internet, it’s very possible that someone could hack into your phone to 1) steal your bitcoins or 2) snatch your recovery phrase.

When you use a hardware wallet like the Nano S, the recovery phrase is generated offline and displayed on the Nano S’s screen, which ensures that the recovery phrase is never on an internet-connected device.

How else does the screen help protect you?

The screen provides an extra layer of verification when sending payments.

The screen makes it easy to confirm that the payment you’d like to send is for the correct amount and to the right address.

The Nano S’s screen means, like a KeepKey or TREZOR, it can be used even on a computer that is infected with malware.

The Ledger Nano S can actually be setup without even being plugged into a computer.

Once setup, the best wallet option for privacy to use with Ledger is Electrum on desktop, or Mycelium on Android.

The Open Bitcoin Privacy Project ranked Ledger’s wallets as the most private Bitcoin wallet in their 2016 report.

Ledger Nano S vs KeepKey

The main difference is that the Ledger Nano S uses two secure elements/chips, while KeepKey is essentially a mini computer.

A KeepKey costs $99 while the S costs just $95.

The KeepKey has a more “premium” feel to it although that is just a matter of personal taste!

Ledger Nano S vs TREZOR

The main difference is that the Ledger Nano S uses two secure elements/chips, while TREZOR is essentially a mini computer.

A TREZOR costs $99 while the S costs just $95.

The TREZOR has an advanced recovery feature that the Nano S does not have. This recovery feature makes sure that your TREZOR recovery phrase will not be exposed to the computer when recovered.

Ledger Nano S Ethereum

Is there a Ledger Nano S 2 or Ledger Nano S 3?

There is not a Ledger Nano S 2 announced as of now.

The Ledger Blue is another hardware wallet made by Ledger. It uses bluetooth and has a screen, so it works like a tablet.

It does not, however, offer any extra security so its $229 price tag may not be worth it. It’s also out of stock now, anyway.

How to Turn Off Ledger Nano S

The Ledger Nano S has no battery, so it’s automatically turned on when plugged into a power source (computer or wallet).

It is automatically turned off when unplugged.

What to Know About Ledger Nano S Firmware Updates

Most firmware updates are fine.

Some users have had issues when updating to new firmware. This is why it’s super important to make sure you have backups of your 24-word seed before updating firmware. You don’t need the seeds with you, but make sure that they exist so that in case your Ledger resets you can go access the seeds and recover your coins.

Avoiding Scams with the Ledger Nano S When Ordering

I mentioned it at the beginning of the post but it’s worth repeating again:

Never order a Ledger Nano S from eBay!

Since they were new to cryptocurrency it did not mean anything to them when the secondhand Ledger device showed up already initialized!

Here’s how this scam works:

The thief sets up a Ledger Nano S and delivers it on eBay. Buyer sends money to the device, but the thief has the backup code. Once money is sent, thief sweeps funds using the backup, leaving the buyer with nothing.

Only order from the Ledger Store.

What Coins Does Ledger Nano S Support?

The Ledger Nano S supports the most coins out of any cryptocurrency hardware wallet:

Ark
Bitcoin
Bitcoin Gold
Bcash
Dash
Digibyte
Dogecoin
Ethereum
Ethereum Classic
Expanse
Hcash
Komodo
Litecoin
NEO
PIVX
PoSW
Qtum
Ripple
Starts
Stealthcoin
Stellar
Stratis
Ubiq
Vertcoin
Viacoin
Zcash

Ledger Nano S Legacy or Segwit

One confusing thing for users of the Ledger Nano S is whether to use Bitcoin with legacy addresses or segwit addresses. We suggest using Segwit addresses since this will save 40% on transaction costs when you go to send bitcoins.

End of Review

The rest of this article shows you how to use the S with certain wallets.

How to Use Ledger Nano S with Mycelium (Android)

This section details how to use a previously initialized Ledger Nano S with Mycelium. Your Nano S must be setup before use with Mycelium.

First, make sure you have the latest version of Mycelium installed on your Android device. Open Mycelium and select “new account”. If you already have Mycelium installed then skip this step.

Swipe right to move over to the “Accounts” tab. Click the key on the top right to add a new account.

Under “Import a Ledger-HD account” tap “Ledger”.

Plug in an OTG cable to your Android device and plug in your Nano S to the OTG cable.

Enter your Ledger Nano S pin code.

Mycelium will scan for accounts on your Nano S.

In this case there were no used accounts. If the Nano S had accounts, you would simply select the account you want to add Mycelium. In this case we will create a new account by selecting “Import next unused account”.

Name your Ledger Nano account on Mycelium.

You can now send payments from your Ledger Nano S with Mycelium.

Even if the Nano S is removed after use, the wallet and its addresses will still be viewable in watch-only mode. This way you can still view your balance, generate new addresses, and receive payments.

How to Restore Ledger Nano S Seed with Mycelium (Android)

If your Ledger has been lost or stolen, your funds can still be accessed by importing the recovery seed into Mycelium for Android.

A fresh install of Mycelium is required. If you already have Mycelium installed, backup your wallet and reinstall the application.

When opening Mycelium, you’ll be given two options: Restore Backup and Create New. Select Restore Backup.

All Ledger seeds are 24 words, so select 24 words:

Mycelium will have you enter the words one at a time.

You can now send any funds that were stored on your Ledger Nano S.

Note that the private keys from your Ledger Nano S seed are now stored in Mycelium. Your funds should immediately be moved to cold storage. The old Ledger seed is now insecure and should not be reused.

How to Use Ledger Nano S with Greenbits

This article details how to use a previously initialized Ledger Nano S with GreenBits. Your Nano S must be setup before use with GreenBits. Note that you won’t be able to use your accounts from the Ledger Chrome wallet. GreenBits is a multisignature wallet and can’t use the same addresses that are used in the Ledger Chrome app. With GreenBits and the Ledger Nano S, the Nano S acts as more of a login device that signs transactions. Again, accounts from the Ledger Chrome wallet cannot be used with GreenBits.

First, make sure you have the latest version of GreenBits installed on your Android device. Plugin your Nano via OTG cable and you will receive a pop-up message. Tap “OK”.

Type in the pin code you set when you initialized your Nano S in the Ledger Desktop wallet. The pin code is the only thing carries over from other accounts or wallets on the Nano S.

That’s it. You’ll now see the GreenBits wallet home page. All transactions with this wallet must be signed by your Ledger Nano S.

There is no watch-only mode. If you unplug your Nano, you’ll only be able to receive payments upon plugging it in again.