I was about to get impatient with Ledger, but today they finally released some news regarding their upcoming all-in-one application for the Ledger Nano S hardware wallet. Instead of the old design where each cryptocurrency stored on the Ledger uses it's own seperate app to access it, Ledger will release an application which lets you store, access, send and receive all your cryptocurrencies from the same apps.
LEDGER HARDWARE WALLETS
The Ledger Nano S is most of all popular because of it's low price ($70-80), but also because it is the hardware wallet on the market which lets you store the most altcoins. Right now the Ledger Nano S has support for dozens of cryptocurrencies and more being added regularly. Because this was not an intended feature in the beginning per se, Ledger operated with a seperate app for each crypto as a design, with each app being created as a Chrome add-on. This meant if you want to store 5 crypto's, you need to have 5 apps installed and operate each individually to access your funds.
THE NEW APP
Because Google is ceasing it's Chrome plug-in support Ledger has been forced to rethink it's apps and future. They announced a while ago that they will create a new app to access your funds, and this would be an all-in-one app which would allow you to access all of your funds from one application, secured by your hardware wallet - a crypto enthusiast's dream!The new app was initially supposed to be released around new year but this date was overshot. Today, however, Ledger released the first pictures of what the new app will look like, and it looks pretty good!
As you can see in the picture above, the new app has a side-tab which lets you switch easily between crypto's. It also has some extra features like a chart and price information, and apparently there's a way to customize your account with a name too! This is interesting and I wonder how it works - most people consider privacy to be paramount in crypto. Adding your name as 'flair' to your private installation is one thing, but I wonder if this name-information will be shared with Ledger itself as well?
Not only that, but Ledger is also releasing a mobile version of their wallet shortly after the desktop version, which will be available on both Android and iOS. This is quite exciting news! Right now it is possible to use your Ledger Nano S in combination with a mobile device, but it requires some extra work which kept most people from using it. This new mobile app may change all of that, and turn the Ledger Hardware Wallet into an easy mobile payments wallet with which you can pay securely with your mobile phone without worrying about hackers. That could be big!
RELEASE
The first version of the desktop app will be released in Q2 2018, with the mobile app following shortly in Q3 2018. The initial release will incorporate all the current set of features of the Ledger software, but unified into a single app.The feature list for the new Ledger software is as follows:
- Native desktop application (Windows, macOS, Linux)
- Multi currencies (23 cryptos including Bitcoin, Altcoins, Ethereum, Ripple…)
- Multi devices (Ledger Nano S, Ledger Blue)
- Read only consultation of accounts without device (protected by optional password)
- Dashboard view of all assets
- Counter values: choice of currency & exchanges
- Send, receive, account balances & history
- Confirmation before sending funds
- On device verification of the receive address
- Faster account synchronisation engine
With plans to add more in the future, such as 100+ cryptocurrencies support, multi-addresses, third party app integration (!), ERC20 contract management and more. Very exciting! Especially the third party app integration sounds interesting - I could see this leading to a partnership with exchanges to allow you to trade directly out of your hardware wallet!
I'm very excited to see this software starting to near it's release date! The current wallets for crypto's are sorely lacking: they're either multi-currency or they are secure by hardware wallet. But a combination which has both user friendliness and multi-currency support, as well as the security of a hardware wallet, is still not available. Many wallets offer multiple currencies, such as the Exodus or Jaxx wallet, yet these do not allow for hardware wallet integration and as such are still at risk of being hacked.
The new Ledger app should enhance security and usability of crypto's significantly! I can't wait, to be honest. And I am looking forward to the mobile application too - it will be the first time I could trust my mobile device with handling my crypto without worrying. This means I could spend-on-the-go, instead of only accessing my crypto's from home. That's great if you actually want to use crypto as a payment method!
If you don't own a hardware wallet yet, but you do have more crypto than $500-1000 dollars, I highly recommend getting one. This should not be underestimated!! (!!!). Out of the potential choices for hardware wallets, it is clear that the Ledger Nano S remains the most enticing one. When they release their new app, I do not think any of the other options will be able to stand up to the features of the Ledger Nano S. You can read more about the Ledger Nano S on the official Ledger hardware wallet website here.