Product showcase: Ledger Flex secure crypto wallet
The Ledger Flex is a hardware wallet designed for the secure storage of cryptocurrencies and NFTs. It combines security features with a user-friendly interface, making it suitable for both beginners and more experienced users.
Ledger Flex stores your private keys offline. This is called cold storage. By keeping keys offline, your assets are safer from online threats like hackers or malware. Unlike software wallets, which store private keys on devices connected to the internet, hardware wallets keep your keys isolated.
The device features a 2.8-inch E Ink touchscreen. It connects via Bluetooth or USB-C, runs on Ledger OS, includes a Secure Element chip to store your keys, and supports a range of assets, including Bitcoin, Ethereum, Litecoin, NFTs, and more. It weighs 57.5 grams. It has 1.5 MB of storage space, which could be a bit problematic for those with large number of different cryptos. Every cryptocurrency needs its own app to be installed on the device and the apps could be 70-150 kb in size.
The package comes in a secure box that is sealed to prevent tampering. Inside, you’ll find the device itself, a USB-C cable, a blank recovery sheet for writing down your 24-word recovery phrase, and an instruction manual.
Setting up Ledger Flex
Before you begin setting up the device, it’s important to perform a genuine check to ensure that your Ledger Flex is authentic. The genuine check is a cryptographic verification process designed to confirm the authenticity of your Ledger device. This check is performed by the Ledger Live app during the device setup.
After confirming the device is genuine, you can proceed to create a PIN code. This code locks your wallet and keeps it secure. You’ll use it every time you access the device.
After setting the PIN, the device will display your 24-word recovery phrase. This is the only way to recover your wallet if the device is lost, stolen, or damaged. The recovery phrase is generated inside the device using random entropy, and each word is selected according to the BIP-39 standard from a predefined list of 2048 words.
Write down each word in the order shown, using the recovery sheet provided in the box. Double-check the words carefully and store it safely offline. Never take a photo or store the phrase digitally.
Once your Ledger Flex is set up, you can start using it with the Ledger Live app. The app offers a dashboard where you can view your portfolio, check real-time market prices, and manage transactions. After you open Ledger Live, it will prompt you to choose your Ledger device type.
During setup, select the Ledger Flex option from the list of available devices. You can connect via Bluetooth or USB-C. If you’re using Bluetooth, make sure your Ledger Flex is powered on and in pairing mode. For USB-C, just plug the device into your computer or mobile device. Security wise, if you won’t be using Bluetooth, turn it off completely. From my perspective in case you will use Bluetooth, which I presume majority of users does, you can always turn it off while you are not using Ledger.
Sending and receiving crypto
Before sending or receiving crypto, always verify the recipient’s address. On your Ledger Flex, the correct address will be displayed on the device, preventing address alteration by malware or phishing attacks.
To receive crypto: Open Ledger Live, select the cryptocurrency, and verify the address shown on your device.
To send crypto: Enter the recipient’s address in Ledger Live, then confirm the address displayed on your Ledger Flex device. Always double-check the amount, address, and transaction details directly on the device before approving the transaction.
Additional considerations
If you ever lose access to your recovery phrase, Ledger offers Ledger Recover, a service that helps you recover it. This feature provides an extra layer of protection, allowing you to retrieve your wallet in case of loss, theft, or damage to your Ledger device.
Privacy concerns may arise when using the Ledger Recover service, as it involves transmitting encrypted fragments of your recovery phrase to Ledger and third-party providers. Although the fragments are securely encrypted and split using a cryptographic method, some users may be concerned about the potential risks associated with storing parts of their recovery data off-device.
Although it has some slight limitations, such as restricted storage space, Ledger Flex is a very practical option for users seeking a secure hardware wallet for their cryptos.