Most Popular Wallets – Top alternatives to the Ledger crypto Australians can use
Before we get too deep into our Ledger wallet review, it’s worth thinking about who this brand is up against. There’s been a massive number of crypto wallets unveiled in the past decade. Each of these will aim to give you a convenient and secure way to keep your cryptocurrencies in one place.
There’s usually a trade-off between convenience and security in all crypto wallets. The Ledger cryptocurrency wallets are hardware-based wallets. They offer high levels of security as all of your coins are held remotely away from your computer. But this means that you have to keep your Ledger wallet with you to manage your cryptos.
Software-based wallets like that featured in our Exodus wallet review offer you less security features, but you can buy, sell and trade cryptos from any computer or mobile without having to use any hardware. There are also web-based wallets that give you even more flexibility, but this comes at the cost of less security and no customer support.
Pros and Cons of the Ledger Crypto Wallet
All crypto wallets have their advantages and disadvantages. Here are the main reasons why you should consider getting a Ledger wallet:
- One of the safest ways to manage your cryptocurrencies
- Hardwallet is robustly designed offering protection against physical damage
- Supports dozens of cryptocurrencies and tokens
- No need to use a Ledger wallet promo code
All ewallets are not without their disadvantages. Here are some key reasons why you might consider alternative crypto wallets.
- Expensive compared to other crypto wallets
- Relatively inconvenient to use a USB drive every time
- Not as user-friendly as some rival brands for sending and receiving cryptos
Cryptocurrencies and Technology – Top cryptos found in our Ledger
There are two kinds of Ledger wallets available. These are the Ledger Nano X and the Ledger Nano S. The Ledger Nano S is the wallet most people will use as it’s about half the price, so we’ll focus on that.
This hardwallet allows you to send and receive 27 different coins and 1,500 tokens. The most popular cryptos featured here are Bitcoin, Ethereum and Bitcoin Cash. The Ledger wallet will even allow you to swap or buy these cryptocurrencies.
Beyond this, you’ll find no shortage of other cryptos such as Ripple, USD Tether, Polkadot, Binance Coin, EOS, Tezos, Stellar, Link Chainlink, Tron and so on. We should also note that there are even some staking options for cryptos like Cardano and Neo without even having to use a Ledger promo code.
While the Ledger Nano S is a hardwallet, the brand has taken the wise step of introducing a decent app so that you can monitor your cryptocurrencies remotely.
You can trade your Bitcoin or Ether at These Top Brokers in Australia
Usability & Store – Using the Ledger crypto wallet
So the key thing to remember is that you actually have to buy a Ledger Nano S wallet. You should do this directly from the brand’s shop to make sure that it is 100% safe. Just so you know, this should cost around $90 AUD. This might sound a lot, but remember that you’re buying one of the safest crypto wallets, and you won’t have to worry about using any kind of Ledger coupon code.
Once you’ve got your wallet, you’ll see that it comes in the form of a USB drive that you just have to insert into the USB port of your computer. The wallet should be recognised by your device, and you’ll need to select ‘Yes’ when prompted to ‘Configure as new device’.
After the drivers have been installed on your computer, you have to press both buttons on the crypto wallet at the same time. This will trigger the process that allows you to pick a PIN code that you have to enter in every time that you want to manage your cryptocurrencies.But it doesn’t stop there, as you will also have to choose a backup 24-word recovery phrase.
This will complete the setting up process, and you’ll be ready to receive and send funds. To do this, you need to download the Ledger Manager and install the wallet app on your computer.
Launching the app will require you to insert your wallet into the USB and enter your PIN number. Click on the Receive or Send icon at the top of the app, and then you can display the address that you want to get your crypto payments sent to, or enter in the wallet address you want to send funds to.
Bear in mind that there may be Ledger fees that can be reduced by opting for a slower transaction time. Easy and no need to use a promo code for Ledger wallet.
Security & Support – A safe Ledger crypto Australians can use
Safety is the main reason why you’d want to get the Ledger wallet. The fact that it’s a hardwallet means that nobody is going to access your coins unless they get their hands on the wallet itself. This is in contrast with other kinds of crypto wallets that are susceptible to all manner of hacking and malware attacks.
The addition of a PIN code and 24-word recovery phrase further backs up the fact that it’ll only be you using this crypto wallet. All of which means that no virus or key logging attempt is going to come between you and your coins. There will be regular firmware updates to ensure that your wallet stays secure. See how this compares with what we found in our Trezor wallet review.
Device and Scope of Supply – Stylish and robust Ledger crypto wallet
On the surface it looks like little more than a chunky USB stick. This wallet is made of durable materials and even features a stainless steel cover. This means that your funds will stay safe even if you somehow accidentally stand on your crypto wallet. It’s also pretty stylish thanks to the brushed steel look. Yes, it might be expensive, but you might be able to find a Ledger promo code 2022 deal that can limit the cost.
The Ledger crypto wallet is fully compatible with Windows, Mac and Linux computers. Just in case you were wondering, Ledger will supply you with a USB cable so that you can quickly link up the wallet with your computer.
Conclusion – With a Ledger crypto Australians should feel secure
There is little doubting the fact that Ledger has produced one of the most secure crypto wallets. Thanks to its innovative hardware wallet Ledger limits the chances of somebody stealing your coins to virtually nil. This obviously comes at the cost of having to buy the physical wallet, but it’s a small price to pay for 100% security.
It’s important to note that the Ledger wallet is easy to use. You can simply make a Ledger withdrawal of your assets at any time, and the app makes it easy to manage your cryptocurrencies effectively. So for anybody who is concerned about their online safety, the Ledger wallet is an excellent choice.
You can also try these alternatives, which we prefer as you can also combine the wallet with a functional exchange.