Comments on: Is the Ledger Nano S a Scam? – In-Depth Review

By: Bill Niedermayer

Bill Niedermayer — Tue, 09 Jan 2018 20:48:00 +0000

Run for the hills. I purchased directly from the company. Device worked once than won’t power on. I contacted them and they have been ignoring me and deleting all my reviews. Save your money. Run run run.

By: Jeffrey Michael Gardner

Jeffrey Michael Gardner — Fri, 05 Jan 2018 16:19:00 +0000

In reply to Andy. Exactly, how would the device be secure if the company could help you restore your passphrase? It would be a scam if THEY COULD tell you your passphrase.

By: Cloudhash.eu

Cloudhash.eu — Thu, 04 Jan 2018 12:55:00 +0000

In reply to raffy323232 .. Nope, you got one private key, on this key every crypto you save on your wallet is on this private key.

By: raffy323232 .

raffy323232 . — Thu, 04 Jan 2018 08:54:00 +0000

Just a question for you guys…if you lose your nano s and replace it by a new one…it seems that your data is stored in a server….

By: Paul Tashman

Paul Tashman — Sun, 17 Dec 2017 23:41:00 +0000

Why do you trust ledger to not have bugged the devices themselves? Surely there’s more money in stealing everyone’s coins than there is in selling these devices.

By: Hannibal Smith

Hannibal Smith — Sun, 10 Dec 2017 15:39:00 +0000

In reply to Ciprian V..

Not having to worry about wallet passwords and not having to worry about keeping tens or hundreds of public/private key pairs exported and encrypted with yet another password is actually a huge improvement. I’m getting used to it.

If Electrum wasn’t so buggy with it, it would be smoother sailing. But the Chrome app is very limited and doesn’t even let you see all of your receiving keys to find out where the bloody change address is! Have to do xpub via an external app. Ledger is a French company, so that says it all.

I should also point out the Ledger is a seed kind of wallet. Seeds don’t allow importing private keys. It’s not a limitation of the Ledger, but because the seed won’t encompass imported private keys via the recovery phase. Electum allows you to create both seed and non-seed wallets, so you can have both kinds. There’s also non-SegWit and SegWit wallets, but Ledger handles that one.

By: Hannibal Smith

Hannibal Smith — Sun, 10 Dec 2017 15:30:00 +0000

In reply to gdpbull.

That’s not really the advantage. Non-full node SPV software wallets such as Electrum don’t download the entire blockchain and have been around for years. There’s only one monolithic blockchain for all nodes and non-full nodes.

But I think you’re worried about man-in-the-middle attacks. That is theoretically possible, but very unlikley. SPV wallets connect to and use full node servers over a secure channel.

Worst case, you could use the Ledger with a full node wallet if any supported it. I’m not aware of any.

Also, read my other post. I think you’re under the impression the Ledger is a wallet. It’s not… its just a storage device. It’s not even a SPV wallet as that is what the Chrome app is.

By: gdpbull

gdpbull — Sun, 10 Dec 2017 03:24:00 +0000

Another plus, you can plug your ledger into any computer, add the Chrome extension, and it works. No need to wait for the blockchain to load from day zero.

By: gdpbull

gdpbull — Sun, 10 Dec 2017 03:21:00 +0000

Just got one. Works great. A plus and minus combined. The blockchain is not maintained on your computer like most wallets. The plus is that you don’t have to wait for your blockchain to be brought up to date if you have not used it for some time. The minus is that it must be relying on one blockchain for all ledger wallets, which it keeps up-to-date real time. So, that means that you are not getting your own personal copy directly from the blockchain network. Someone COULD mess with that one blockchain. Well, that’s the way it seems to me. What am I missing? Or, how am I mistaken?

By: Ciprian V.

Ciprian V. — Sun, 03 Dec 2017 20:04:00 +0000

In reply to Hannibal Smith. I got my ledger nano s few months ago, it is still unboxed :).. same as you i have that feeling.. :))