Cryptocurrency moves at the speed of light. As it matures, we need to bring the same sophistication to the tools we use to defend our networks and protect our digital resources. For some, the Ledger Nano S has been a reliable partner on this path. With frequent tech upgrades and devices coming to their End of Life (EOL), users need guidance on what to do next. This post will walk new Ledger Nano S users through the process step-by-step. The post will address why we made the EOL decision, what functionality will continue, how to upgrade to the Nano S Plus, and provide a look at alternative hardware wallet offerings.

Understanding End of Life (EOL) for Ledger Nano S

EOL, or End of Life (EOL), signifies the point when a device like the Ledger Nano S will no longer receive updates. These updates are crucial for two primary reasons: evolutionary updates and corrective updates. Through evolutionary updates, including making the device compatible with the latest changes to blockchain protocols and improving the user experience. In contrast, corrective updates only include bug fixes and security-related improvements. When a device reaches its end of life (EOL), it will no longer be supported with critical updates. This can have a tremendous impact on its usability and even its security.

Ledger has outlined its support timeline after a wallet’s EOL declaration. It has been over two years since Ledger’s announcement, and Ledger is still issuing major evolutionary and correcting updates. This gives consumers lots of time to get used and catch up in upgrading their devices. Unlike the Device Apps, after this two-year period the Device Apps will suddenly be frozen in development. Otherwise, at least for the time being, the status quo will continue to operate. They won’t be getting breaking news updates to adapt to changes in the underlying blockchain protocols. It’s really important to understand this. The cryptocurrency landscape is constantly evolving, and relying on stale software is an unnecessary peril with dire consequences. By the third year after a Ledger Device’s EOL declaration, Ledger will only deliver corrective updates for security vulnerabilities.

Beau, the safety project manager at Pudgy Penguins, has highlighted an alarming trend. He explains why using a device that’s no longer updated is a serious security risk. An unsupported device is increasingly vulnerable to bugs and security vulnerabilities, leaving your crypto assets at risk. If you need to import your seed phrase on a legacy device, for example, you will need to purchase a new device. This is for the simple reason that Ledger’s update flow processes their Device Apps on a separate timeline from these third-party developers. This illustrates the crucial need to keep current on security matters with your hardware wallet.

Upgrading to Ledger Nano S Plus

For Ledger Nano S users seeking an easy upgrade path, the Ledger Nano S Plus makes a strong case for itself as a worthy successor. It provides a multitude of benefits. At the same time, it retains the form factor and user experience that made the Nano S so beloved.

Ledger Nano S Plus provides industry-leading security with its certified Secure Element chip and regular firmware updates. This allows you to be confident that future attacks will not put your private keys at risk. It backs more than 5,500 cryptocurrencies, such as Bitcoin and Ether, giving you expansive compatibility for all your digital assets. At just $79, the Ledger Nano S Plus is a no-brainer. It’s an excellent value option for those who want high-end features without the high-end price tag. Its small size and portable design fits in the palm of your hand (62.39mm x 17.40mm x 8.24mm). At only 21 grams, this dog activity monitor is easy to take anywhere in your pocket or bag. The device is equipped with two physical buttons as well, allowing for intuitive user interaction and on-device transaction confirmation.

Exploring Alternative Hardware Wallet Options

For most users the Ledger Nano S Plus is a one good upgrade. That’s not to say you shouldn’t be looking at other hardware wallet options on the market. Here are a couple of alternatives to consider:

  • NGRAVE ZERO: Launched in May 2020 and priced at $440 USD, the NGRAVE ZERO emphasizes security and transparency.
    • Pros:
      • Open source and verified.
      • Shows full calldata, providing detailed transaction information.
      • Testnet support for developers.
      • Good default wallet.
  • BC Vault: Released in October 2018, the BC Vault starts at $139 USD and offers a range of features:
    • Features:
      • 1.54-inch color LCD touchscreen for easy navigation.
      • Manages 1,456 coins and tokens.
      • Offers fee-free trading.

Look into each hardware wallet and determine which one will best work for you. Read their comparison guide to make sure you pick one that matches your security requirements. Many hardware wallets superficially display signature data. None of them even come close to displaying calldata for transactions, with the exception of Cypherock.

The Importance of Seed Phrase Security and Portability

No matter which hardware wallet you go with, keeping your hardware wallet seed phrase secure is the most important aspect of hardware wallet security. Your seed phrase is generated when you initially create a crypto wallet. It’s a loose jumble of technical gobbledygook thrown together just for you. This is the key that truly unlocks your crypto assets, and if others gain access to it, your funds may be lost forever.

Storing a seed phrase on paper, like with a hardware wallet, is not a safe long-term storage method. After years of natural wear and tear, it takes little time for it to become unreadable. Instead, think about a more durable, tamper-proof method to store your seed phrase securely. Something like a Ledger metal seed phrase storage device works perfectly. These devices are fire, water, and environment hazard proof. They store your seed phrase securely for years into the future!

Perhaps the least discussed but most important factor to any seed phrase is its portability. If you ever lose your wallet or switch to a new device, you’ll have to restore your wallet from scratch, so you’ll need your seed phrase then. So it’s important to place it in a secure but easily retrievable way.

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