You’ve been tricked into sending your own funds to a cybercriminal’s lair!Īs such, I appreciate Ledger Live asking users to double-check whether the receiving address on the desktop UI matches what’s displayed on the hardware wallet’s panel. As a result, you may think you copied and pasted your wallet address, but as it turns out, you’ve inputted the hacker’s wallet address. #Update ledger live software#This hair-raising, malicious software can “recognize” crypto wallet addresses and automatically switch them with the hacker’s own addresses. Well, there’s a frightening malware called Clipper. “So? Why is this important?” you may be wondering. #Update ledger live how to#Sure, it’s encrypted, but who knows? What if a highly skilled, seasoned hacker figures out how to breach the Chrome extension, uncovers your seed phrase and snatches all of your crypto? You’ll never get it back! Unlike hardware wallets, Metamask digitally stores your seed phrase online. #Update ledger live plus#So you may be wondering, “Why should I get a hardware wallet as opposed to keeping my crypto in an online wallet? What makes it safer?” What I love about the Nano S Plus is that it keeps your recovery phrase - the key to your crypto - offline. Plus, I can’t complain - the process was seamless and efficient. Was it a lengthy process? Yes, but it’s all for the sake of tight security. It took about 30 minutes to set up the device. After that, I was all set to use the Nano S Plus. Yes, it’s extremely tedious, but it’s worth it.įinally, Ledger Live ran a check to ensure my device is genuine. Once the device validates that the selected word is correct, it will move on to the second word - this process will continue until you’ve reached the 24th word. Once you find “table,” you must confirm it. For example, if the first word of your recovery phrase is “table,” the device will ask you to cycle through a carousel of incorrect words until you find the right one. To ensure that I wrote down my 24-word recovery phrase (there’s always a select few who don’t listen), the Nano S Plus asked me to confirm each word - in sequential order. Your home may be burned to smithereens, but you’ll still have crypto! They’d implore you to store your recovery phrase on metal plates, reducing its potential for damage in the event of a fire, flood, earthquake or other unexpected disasters. Funnily enough, some crypto users would shun this because the leaflet is made of paper. Nano S Plus comes with a tiny leaflet for writing down your 24 words. As such, it’s up to you to write down your recovery phrase and keep it somewhere safe. There’s no easy way to say this, but if you lose your recovery phrase, you’re screwed. You’d have to purchase a new hardware wallet and reinitialize it with your recovery phrase. If you lose your Nano S Plus, you need this 24-word phrase to regain access to your crypto. Each Nano S Plus device generates a unique set of 24 words - this is your recovery phrase. Next, I interacted with the hardware wallet to finish the setup I was prompted to create a PIN code. (opens in new tab) Sure, you purchase the Nano S Plus on Amazon, too (opens in new tab), but Ledger recommends purchasing it on its site because you're guaranteed an authentic, untampered hardware wallet. You can purchase the new hardware wallet on Ledger’s official website. As such, the CC EAL5+ certification ensures that the Nano S Plus' chip meets a certain security standard. Ledger hardware wallets use state-of-the-art Secure Element chips, high-end security solutions that protect sensitive data (e.g., passwords, SIM cards and credit cards). (opens in new tab) If the latter sounds like gibberish to you, it simply means that the Nano S Plus passed a Common Criteria security evaluation. The Ledger Nano S Plus comes with 1.5MB of storage, supports up to 100 crypto apps, and a CC EAL5+-certified chip. Paying a dollar short of $150 for a rudimentary device seemed ludicrous at first, but I concluded that it’s well worth the expense for cutting-edge crypto security (and the frequently updated “Ledger Live” companion app). Nano S face-off, a comparative analysis between the $149 Nano X and the $79 Nano S (now $59), I whined about their exorbitant price tags. Ledger Nano S Plus (Image credit: Future)
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