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To explain, a private key in raw form, is a your identity, access specific tools.
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The Ledger Nano S supports over 25 cryptocurrencies, including Bitcoin, Ethereum, Ripple and Altcoins, allowing you to manage multiple assets with the same. Ledger is a cold storage wallet, which means it stores the keys to your cryptocurrency offline on a hardware device, giving you sole ownership. Put simply, a crypto wallet is an interface that allows you to access and manage your funds on a blockchain. It acts as a sort of control panel.