Designed to be as lightweight and fast as possible, Nano was released with the vision of becoming an instant online alternative to fiat currencies. Unlike most other popular cryptocurrencies which use a proof-of-work (POW) consensus mechanism to ensure blockchain security and transaction finality, Nano instead its own novel infrastructure known as a block-lattice, which allows funds to move securely around the Nano network without needing to achieve a global consensus.
Because of its innovative design, Nano is thought to be one of the most scalable blockchains currently in operation, offering far superior latency, energy efficiency and throughput compared to other blockchains such as Bitcoin (BTC) and Ethereum (ETH). These attributes make Nano an ideal solution for large scale online payments, providing a truly practical alternative to payment providers such as PayPal and Google Wallet.
The remarkable potential of Nano (NANO) hasn’t gone unnoticed by the cryptocurrency community either. During the 2017 crypto boom, Nano was experienced what can only be described as incredible growth, climbing from just $0.20 in December 2017, up to a staggering $37.62 just a month later. To this day, Nano remains arguably the fastest growing cryptocurrency of all time, and may be a sleeping beast waiting to explode again.
If you are a Nano holder, it might be wise to make the switch to a hardware wallet,since your portfolio could end up worth a small fortune should Nano return to its all-time high. Because of this, this tutorial will help you get started connecting your Ledger Nano S with one of the most popular Nano web wallets — NanoVault.
What You Will Need
- A Ledger Nano S with the Nano app installed
- A Computer running NanoVault (on Chrome or Opera browser)
- An official Ledger USB cable
Note that for the purposes of this tutorial, we will be using the web app version of NanoVault. The wallet can also be downloaded as a desktop version for MacOS and Windows from the official NanoVault GitHub page.
Connecting NanoVault and Ledger
Step 1: To get started using NanoVault with your Ledger Nano S you will first need to head over to the NanoVault web app here: https://nanovault.io/
After loading NanoVault, connecting your Ledger device to your computer, unlock it, and open the Nano app.
You will be presented with a variety of options. On the right side, you will see the welcome screen, click the ‘IMPORT AN EXISTING WALLET’ button.
Step 2: On the next screen you will be asked to select your import type. In this field, scroll down and select Ledger Nano S. After selecting your device, click the ‘IMPORT FROM LEDGER’ button at the bottom.
Step 3: After importing your wallet, you will then be free to open it by clicking ‘VIEW ACCOUNTS’,
Step 4: You have now successfully linked your Ledger wallet with NanoVault.
In future, you will be able to access your Ledger NANO wallet through NanoVault, where you will be able to make transactions, access your address book and create new accounts as, or when needed.
Image credits: descryptive