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Why we choose Ledger Wallet?

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Why to use ledger wallet

Why we at Coinnounce choose Ledger Wallet?

The Ledger Wallet is a hardware wallet meant exclusively for you Bitcoin digital tokens. People have been looking into this option of a digital wallet more and more and with increasing popularity, people need to make a few things more and more clear so that they are absolutely sure that this is the right choice for them and this decision is what will suit them the best.

That being said, here are a few pointers about the Ledger wallet to make you understand the subject matter better and to help you get started with it by knowing a few facts about this hardware wallet which has been providing maximum protection level to your Bitcoins without compromising your usability of the wallet or your control over it.

 

  1. Launched in 2014 by 8 experts (having expertise in several domains like entrepreneurship, embedded security and digital currencies), Ledger Wallet is a growing company with accelerated pace and has been constantly developing security and infrastructure solutions for several digital currencies and also for several blockchain based companies, startups and initiatives. 
  2. They have clients in over 165 countries and have already sold 1000000 ledgers till date with about 100 retailers globally. They offer infrastructure solutions which are completely customisable to safeguard the digital assets of Hedge Funds, Banks, and High Net Worth individuals.  
  3. The Ledger wallet company recently raised $75 million on 18th January, 2018 to secure digital currency assets.  
  4. They offer the Ledger Nano S hardware wallet to store digital currencies. It is very compact and durable with an OLED screen and buttons. Multiple digital currencies can be stored in them and this hardware wallet is also very extensible to other apps as well. The range for this product starts at about $92.20. 
  5. Another product they offer is the Ledger OTG Kit which has an on the go cable kit. This all in one cable kit has a cable which is a dual USB type C and micro USB cable and is supported by all Android phones. The range for this product starts at $14.59. 
  6. Gemalto, the world leader in digital security, joined forces with the Ledger wallet to provide enhanced and customised security infrastructure for digital currency based activities. This shows how driven Ledger is towards providing its users and customers high level, top of the game security products for their digital currencies so that they get to witness a better customer satisfaction. 
  7. The Ledger Wallet is a decentralized wallet and it thus does not store any of your private keys. The private keys are generated during the initialization process and the Ledger itself never gets to actually create a copy and save those private keys in its own database.  
  8. For added security, every single time the Ledger hardware wallet is connected to your computer using a USB cable, you are required to enter a PIN code which has to be gotten correct in the first three tries, failing which, all the contents of the Ledger wallet are erased permanently and the hardware wallet is thus reset.  
  9. There are several major benefits of using a hardware wallet over a paper wallet or a wallet in the form of an encrypted private key on your computer. It provides a sort of complete isolation layer between your private key and your computer or other device which can be easily hacked into. Thus you receive a complete barrier between you and your digital connected world.  
  10. The interface and functionality of a hardware wallet is very much different than a software wallet. On your computer, even if your private keys are stored in an encrypted form, whenever you sign for your transactions, they would be of course present in plain sight in your computer memory which makes it liable to be stolen by anyone. 
  11. The Ledger wallet runs on a system of two verifications. A second verification is compulsorily required to make your transaction successful. A second code stored on a different offline card is the code that would authenticate your second verification. This enhances the security potential to a whole another level by providing an additional offline security layer for the Ledger wallet. 
  12. To use a Ledger wallet, you do not need to open an account or sign up and pay for any sort of a monthly or yearly subscription. All you have to do is buy a hardware wallet for yourself, assemble it and start using it without any signing up or paying for a subscription. 
  13. In case of your Ledger Wallet being stolen, damaged or you having lost it, the Ledger Wallet provides you a backup option. When you initially fire up the wallet, during the initialisation process, a paraphrase is generated which is a sequence of randomly generated 24 words. This paraphrase can be used in the event of losing or damaging your Ledger wallet to retrieve your precious digital currencies.  
  14. The private keys that you store on your hardware Ledger wallet are stored on chips and they never leave them. These private keys are not accessible to anyone, even to the computer that this particular Ledger is connected to. Thus making it very safe and secure. 
  15. Dust payments or very small digital currency payments are not recommended to be received on your hardware Ledger wallet. Always set the payment threshold to about 0.05 BTC to avoid computational issues and so that the chip does not get too hot.

Altcoins

Best Tools to track Cryptocurrency Markets: CryptoCompare, CoinMarketApp, CoinGecko

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There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these.

The cryptocurrency market includes the prices and market capitalizations of different Cryptocurrencies like Bitcoin, Ethereum, Stellar and many others. Currently, there are thousands of cryptocurrencies, markets are 16084 and market capitalization is about $124,123,711,224.

 

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these:

 

CryptoCompare.com

Known for its high-end API and real-time tick data, CryptoCompare has been serving the cryptocurrency space from 2014.

Founders: Charles Hayter & Vlad Cealicu

CryptoCompare shows real-time data for more than 5300 Coins and 240k trading pairs, enough for an entire overview of the market. Users can see live Order books, historical data, reports, social data and reviews on all cryptocurrencies. The website is very easy to use and is free for everyone.

 

CoinGecko.com

We love CoinGecko because it focuses on tracking community growth, events hosted by teams and open-source code development apart from the usual price tracking, market capitalization and volume traded. It was also founded in 2014.

Founders: TM Lee, Bobby Ong & others

CoinGecko’s team is very dynamic and is very active on social media like Twitter, Telegram & Facebook. They cover more than 260 exchanges with live data and have more than 3300 cryptocurrencies. They are free for everyone to use.

 

CoinMarketApp (Mobile Application)

When it comes to easily track the live prices and your portfolio on your mobile, CoinMarketApp is the preferred choice for most. With live alerts on more than 1400 Cryptocurrencies, the app saves your time and alerts you on every move.

Download on Android

Download on iOS

Apart from cryptocurrency prices, the app lets you manage your portfolio, mining pools, new contracts and the latest news from the crypto industry.

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Altcoins

Cryptocurrency Market Updates: Bitcoin May fall further

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The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.

 

Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.

 

Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.

 

The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

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Bitcoin Cash Hard fork screwed the whole cryptocurrency market

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Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.

 

Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.

 

BTCUSD yearly chart

BTCUSD yearly chart

 

As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.

 

Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.

 

 

The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

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