Ledger Live FAQ

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Frequently Asked Questions

Is Ledger wallet really safe

Ledger devices are trusted by millions for their safety and security, powered by the Secure Element chip and Ledger's proprietary OS. The Trusted Display feature ensures that data displayed by your wallet cannot be tampered with. Furthermore, Ledger states that its devices have never been hacked. However, it is important to remember that self-custody is ultimately your responsibility.

What is a Ledger wallet?

Ledger wallets are hardware cryptocurrency wallets made by the company Ledger. They provide secure storage of private keys for cryptocurrencies with their multicurrency wallets, storing them offline to keep them safe from hackers.

What are the disadvantages of Ledger wallet?

The Ledger Wallet's exclusive English-language services and mandatory hardware can create significant obstacles for non-English speaking users, making it a less accessible wallet option.

Is Ledger better than Coinbase wallet?

Ledger Nano X clearly outperforms Coinbase Wallet, with its higher overall score of 9.8 compared to Coinbase's 9.1. Additionally, it is a hardware wallet which means it stores crypto offline for enhanced security, and supports a wider range of cryptocurrencies than Coinbase Wallet.

What do you mean by ledger?

A ledger is a book or digital record used for accounting purposes, which stores the opening and closing balance of accounts, as well as all debits and credits for each period. It is also known as the book of final entries or the principal book of accounts. Ledgers summarize all financial transactions, including revenues, expenses, debts, and assets.