Ledger Nano S wallet

[Roberto Julio Azar]

Hello fellow DASH users! What do you guys think about the Ledger Nano S multi cryptocurrency wallet. Has anyone here had any experience with it?

Kindly share with us your experience, thank you! =)

 

[fible1]

I tend to lean more to Trezor since it is the industry standard; also support dash on beta.trezor.com. But I guess that doesn't answer your question .

Pablo.

 

[Roberto Julio Azar]

A

I tend to lean more to Trezor since it is the industry standard; also support dash on beta.trezor.com. But I guess that doesn't answer your question .

Pablo.

Actually it may... Does the Trezor support DASH coin?

 

[fible1]

@Roberto Julio Azar Yes it does, on the beta site; and it is pretty fun to use and very secure, even on a compromised computer. THe only downside is it does not currently support masternodes, but that should be soled with Electrum and the release of 12.1 next month.

Pablo.

 

[Roberto Julio Azar]

@Roberto Julio Azar Yes it does, on the beta site; and it is pretty fun to use and very secure, even on a compromised computer. THe only downside is it does not currently support masternodes, but that should be soled with Electrum and the release of 12.1 next month.

Pablo.

What do you mean exactly by '' on the beta site''...? Perhaps storing DASH on Trezor isn't 100% stable and reliable?

 

[fible1]

@Roberto Julio Azar It is 100% secure because trezor generates and holds the keys at all times, they never leave the device. The online interface is the beta part and Trezor is a VERY professional company. If the interface goes down however, you can just run electrum-dash and get your coins out anyway, its built to a standard. You can also use the same Trezor for multiple coins at the same time.

In all fairness I guess nothing is really 100% secure, but if Trezor is ever hacked, they will be going after the exchanges's coins before ours.

I hope that answers your questions .

Pablo.

 

[fible1]

@Roberto Julio Azar Just to be clear, you have to buy the Trezor first, i's a physical device.

Pablo.

 

[Roberto Julio Azar]

@Roberto Julio Azar It is 100% secure because trezor generates and holds the keys at all times, they never leave the device. The online interface is the beta part and Trezor is a VERY professional company. If the interface goes down however, you can just run electrum-dash and get your coins out anyway, its built to a standard. You can also use the same Trezor for multiple coins at the same time.

In all fairness I guess nothing is really 100% secure, but if Trezor is ever hacked, they will be going after the exchanges's coins before ours.

I hope that answers your questions .

Pablo.

Thank you so much Pablo!

 

[fible1]

@Roberto Julio Azar Feel free to PM me if you need anything . Or email me.

Pablo.

 

[holgum]

I am also interested in the Ledger S, mostly jus because I like the form factor, so if anyone has experience with that, would love to hear it.
I think I read somewhere else that it will support Masternodes once 12.1 is out?

 

[splawik21]

Afaik it is still in testing fase.

 

[Gixxerfrog]

I recently bought a nano s off Amazon. I like it. It takes like 5-10 mins to completely set up, once your up and running its pretty simple and easy to switch from bitcoin to dash etc. If you need to or want to check or use multiple coins. I haven't used it to buy anything yet. I did watch a video on YouTube. A guy used it making a purchase on overstock with Dash. Seems pretty easy.

 

[Tallyho]

I've been looking into Nano S and Trezor but I don't like that they seem to require you to use a Chrome browser extension. What's that all about? I'm a Firefox fan and avoid everything Google like the plague.

 

[fible1]

Trezor Bridge runs as a Chrome extension; nothing strange, all hardware wallets need a bridge app to run on your system. Chrome just happens to be a convenient way to do this.

Pablo.

 

[xdashguy]

Ledger Nano S is NOT open source. I am not sure why people keep recommending this garbage. It runs a closed-source binary blob. All they have open sourced is the tip of the iceberg. All the underneath is closed source. You have no idea if there is code in there to steal your keys, give you a virus, dump your keys, nothing. I would not recommend the Ledger S on my worst enemy.

Stick to a solution that is 100% open source. There are several. In Trezors case, it is BOTH open hardware and software.

 

[Pumba2988]

I bought the Ledger Nano S because Trezor was out of stock

I set it up didnt take much im still trying to get my head around how exactly it works.


Its to my understanding that the USB device generates a wallet and private key upon connecting it to the chrome browser app.

• It keeps the private key on the USB device
• you create the 24 word pass phrase that is used to recover your private key?

Which is what i don't understand if i buy another Ledger Nano S and pretend my other one was destroyed and punch in the passphrase to recover
my Cryptocoin wallet. Doesnt that mean my private is on Ledgers Servers??

It would have to be how else would the new Ledger Nano S get my private key if it was only on the USB.

EIther i dont fully understand how cold storage wallets work could anyone kindly explain how it works.

 

[camosoul]

There is a big difference between something that works, and something that works properly. "Easy to use" has, in the past 10 years, become secret code for "complete piece of crap that is screwing you and you're too stupid to realize it."

I blame the lazy, dumbass snowflakes. If you want to sell a product, you have to reach down to them, they refuse to reach up.

The random 9 block Trezor has for authenticating safely, even on a spyware-compromised machine, is not met by any other product in it's price range. Correct me if I'm wrong.

I wish Trezor were waterproof and wireless... And thinner... And not made of plastic...

 

[camosoul]

Which is what i don't understand if i buy another Ledger Nano S and pretend my other one was destroyed and punch in the passphrase to recover
my Cryptocoin wallet. Doesnt that mean my private is on Ledgers Servers??

We can't be sure with the Nano S. They claim to be operating on the same premise of deterministic seed pairs. But, since they're closed source, we really don't know. They could be setting up the most hilarious GOXing of all time. No way to know. If you don't understand what this means, google BIP32. We used it in the dashvend to assure the machine had no private keys in it to be stolen.

I don't even trust Trezor's browser plugin thingy... If it's in my broswer, I assume it's sending info to a server somewhere. Nope. Not doin' that.

Does it use the tiny screen to do the same random code confirm as the Trezor, to protect from a compromised machine?

 

[Pumba2988]

Oh crap moment... Looks like I'm gonna have to order a trezor. Thanks for reassuring my hunch

 

[Wayan]

Just for your information:
I made a firmware update with Ledger nano s
After this I had to enter my recovery seed and ! attention !
one of the words is/was "rythm"
but
on the screen of the device is no "Y" :-(
so I'm unable to recover the Ledger.
I'm lucky because the device was empty - no loosings.

 

[UdjinM6]

Just for your information:
I made a firmware update with Ledger nano s
After this I had to enter my recovery seed and ! attention !
one of the words is/was "rythm"
but
on the screen of the device is no "Y" :-(
so I'm unable to recover the Ledger.
I'm lucky because the device was empty - no loosings.

Because it's "rhythm", not "rythm".

 

[Hector]

I tend to lean more to Trezor since it is the industry standard; also support dash on beta.trezor.com. But I guess that doesn't answer your question .

Pablo.

Hi Pablo. Can I ask what you mean by the Trezor "is the industry standard"? You mean designers of software wallets build in Trazor integration first?

Cheers.

 

[fible1]

Hi Pablo. Can I ask what you mean by the Trezor "is the industry standard"? You mean designers of software wallets build in Trazor integration first?

Cheers.

Trezor was the first HW wallet, it is also fully open source and has a long track record of strong security and good incident response, so to answer your question, services tend to integrate Trezor before other HW wallets. I believe they also have the largest user base but i can''t find the article I read that on.

Pablo.

 

[Hector]

Trezor was the first HW wallet, it is also fully open source and has a long track record of strong security and good incident response, so to answer your question, services tend to integrate Trezor before other HW wallets. I believe they also have the largest user base but i can''t find the article I read that on.

Pablo.

I see, thanks.

Ah, and the ledger is closed source? I hadn't realised that. I'm a little concerned about the (apparent?) hack the other day on the trezor - it loads unencrypted pass phrases and pin into the memory on bootup? Ledger was apparently immune to this hack.

I know there's been a firmware update, but still. Not as safe as I had imagined.

 

[Bertrand256]

I'll add my two cents: from a developers point of view, Ledger has not very good support of their API, especially for Dash. One might think, that ordinary users do not care, but eventually it turns out, that applications for such a device are created much later (if at all) than for example for Trezor, which in turn has great support.

From the usability point of view, you might want to know, that if you set up a passphrase, you have to enter it using two physical Ledger keys, which can be time-consuming and for longer passwords with special characters - quite annoying.

 

[Hector]

I'll add my two cents: from a developers point of view, Ledger has not very good support of their API, especially for Dash. One might think, that ordinary users do not care, but eventually it turns out, that applications for such a device are created much later (if at all) than for example for Trezor, which in turn has great support.

From the usability point of view, you might want to know, that if you set up a passphrase, you have to enter it using two physical Ledger keys, which can be time-consuming and for longer passwords with special characters - quite annoying.

Hi,

Doesn't the Trezor use two keys as well?

 

[Bertrand256]

PC's

Hi,

Doesn't the Trezor use two keys as well?

For entering a passphrase on Trezor you use a PC's keyboard.

 

[chaeplin]

I'll add my two cents: from a developers point of view, Ledger has not very good support of their API, especially for Dash. One might think, that ordinary users do not care, but eventually it turns out, that applications for such a device are created much later (if at all) than for example for Trezor, which in turn has great support.

From the usability point of view, you might want to know, that if you set up a passphrase, you have to enter it using two physical Ledger keys, which can be time-consuming and for longer passwords with special characters - quite annoying.

Oh one thing, Ledger has different method on passphrase.
Ledger attached a passphrase to a PIN, and saves the passphrase to the device itself.

http://support.ledgerwallet.com/knowledge_base/topics/advanced-passphrase-options

So no input using keyboard.

 

[Bertrand256]

Oh one thing, Ledger has different method on passphrase.
Ledger attached a passphrase to a PIN, and saves the passphrase to the device itself.
http://support.ledgerwallet.com/knowledge_base/topics/advanced-passphrase-options
So no input using keyboard.

I saw it as not very safe, so didn't turn-on that option, but I agree, that for some people it can be helpful.

 

[GrandMasterDash]

I see, thanks.

Ah, and the ledger is closed source? I hadn't realised that. I'm a little concerned about the (apparent?) hack the other day on the trezor - it loads unencrypted pass phrases and pin into the memory on bootup? Ledger was apparently immune to this hack.

I know there's been a firmware update, but still. Not as safe as I had imagined.

Am stating the obvious here but that "hack" requires physical access to the device. Regardless of which HW wallet you use, physical security should always be taken seriously.