We all know that hardware wallets are the safest of all the present crypto wallets. Even though the hardware wallets are more reliable and trustworthy, there is not much variety of options to choose from. Majorly there are only two hardware wallets that give tough competition to each other and their names are Ledger and Trezor hardware wallet. Although the latter one was the first ever hardware wallet to launch, the Ledger device gives it strong competition. Almost all traders are divided between these two wallets only. But one interesting fact is that these hardware wallets require a software application. Since this blog is about Ledger Wallet, we will only discuss its application, the name of the application is Ledger Live. Follow our blog to learn more about this application in detail along with other details as well.
What is the use of the Ledger Application?
Many people have doubts about this application, as they think that their funds will be at major risk if they use this application. But in reality, this is not the case at all, this Ledger Live application is just a bridge between your wallet and the crypto industry. We all know that Ledger uses an offline mode to execute the transaction, but as a trader, you will also require real-time updates on the crypto market. And this is where the live application comes in to save the day. Through this application, you will have access to all the market conditions of the wallet.
Is the Ledger device safe?
Do you still have doubts about the security of this wallet? Allow us to tell you that there is no better asset protection service than the Ledger Wallet. This wallet offers you some of the below-mentioned security features that will surely clear your doubts:
- You can only review the condition of your investments and other coins through its application.
- Enabling the fingerprint scanner to avoid unwanted logins.
- Asking to sign the transaction before the final processing of it for the last confirmation.
- Uses the feature of CoinJoin, which means that it joins the transaction of the other wallet users as well and hides the IP Address of your device from hackers.
How to check if the Ledger device is genuine or not?
It is a major concern for the users when they receive their order of Ledger devices. How can you guess that the device you’ve received has not been tampered with by anyone? Some people do not even bother to check on the details like this. However, the users need to check the authenticity of their device. In this article segment, we will provide much-needed input on how to recognize the device's authenticity. This is the list of a few things that you have to check for in a device when you receive it:
- Ledger Product origin
- Contents in the box
- Recovery sheet condition
- State of your hardware ledger device
These are a few of the basic things that you need to check on. If everything appears good to you, then initiate the setup procedure through the Ledger Live application.
Summing It Up!
Now, we are finally at the end of the blog, as your guide, we hope that we provided you with enough knowledge about the wallet. Now, you must always check on the authenticity of the wallet device you receive and report it to customer support if it’s tampered with. Try not to order your wallet device from any untrustable or unofficial channels as most of them are more likely to be fraudulent. And once you receive your safe device, start to establish your fresh account on it through the Ledger Live application.