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Ledger Nano S Wallet Review: The Complete Guide

Ledger Nano S Wallet Review

Ledger Nano S is one of the reliable crypto wallets in the market. Launched in 2014, the Ledger Nano S still exists as an affordable hardware wallet option today. The Nano S model is one of the hardware crypto wallets by Ledger, a brand known to have been creating hardware products for Bitcoin security.

As a hardware wallet, the Ledger Nano S stores the user’s private keys securely in tangible storage. The private keys are important information used to authorize outgoing transactions on the blockchain network. Hardware wallets are said safer because it isolates the private key and the devices — PCs and smartphones — that are susceptible to hacks or fraudulent attacks.
digital wallets in the market
Hence, hardware wallets are usually used to protect digital assets in large amounts. Currently, Ledger Nano S is proven as one of the best in the market. Get to know more about it below in this Ledger Nano S Wallet review. But before that, let us first answer the question, “What is Ledger Nano S?”

What is Ledger Nano S?

The Ledger Nano S is a hardware wallet for cryptocurrency assets. The wallet body is similar to a USB drive that measures about 3-inch, its stainless-steel case gives it style and protection against damage.

With an LED screen on top, the device resembles an old MP3 player in the early-2000. The screen also allows the wallet to be used even on malware-infected personal computers.

The Ledger Nano S offers the users to manage 27 assets and ERC-20 standard tokens through its native app called the ‘Ledger Live’ app. It makes the wallet accessible from your desktop or Android smartphone. It is also compatible with more than 50 digital wallets in the market.
What is Ledger Nano S wallet
According to Ledger’s official website, they have sold over a million Ledger Nano S devices scattered in over 165 countries. Ledger as a brand boasts of state-of-the-art security specifically made for crypto assets.

The complete package comes with accessories and other supporting tools that the user may need. For every purchase, the following items are included:

  • A Ledger Nano S
  • A micro-USB cable
  • A lanyard
  • A keychain and key ring
  • Recovery sheet for writing down seed

Ledger Nano S complete package

Ledger Nano S Supported Coins

The Ledger Nano S natively supports more than a thousand crypto coins, including most of the major coins and any ERC-20 standard digital asset in the market. The cold wallet supports the following cryptocurrencies:

Ledger Nano S Advantages

Among various digital crypto wallets in the market, Ledger Nano S holds various advantages over the others. Its competencies lie mainly in its price and security, plus the brand reputation it has built over the years. Let’s find out more in this Ledger Nano S Wallet review.

#1 Ledger Nano S Price

The Ledger Nano S has an affordable price tag which costs around 60 to 75$, the price is worth it for the features and security the hardware offers. The wallet mainly transfers data to PCs via the USB cable provided in the box.

After the success of the Ledger Nano S, the company has introduced an upgrade called the Ledger Nano X in March 2019. It’s a more pricey option, Ledger Nano X sits at $119, a value that may be somewhat too high for others.

However, that price tag is reasonable for the wallet’s range of features. Ledger Nano X integrates Bluetooth to enhance connectivity and sync operations via a smart app. The Ledger Live mobile app allows the user to control their wallet using a smartphone or tablet.

#2 Ledger Nano S Security

Ledger Nano S, being a hardware wallet, is already more secure than a hot wallet as it is not dependent on internet connectivity. This makes hardware wallets less susceptible to malicious attacks and hacks.

Also, every wallet offers distinct security features. For Ledger Nano S, security comes ingrained within its developed operating system called Bolos. This wallet operates a specialized environment unique to the device that doesn’t allow any software or malware installment on its wallet digital. Hence, there is against computer vulnerabilities and malware.

Within this environment, private keys are protected by secure elements locked through a PIN code. Also, the specification for this wallet is made open-source so that any developer can use it for black box testing.

The device cannot be verified to generate secure random seeds since source codes are not auditable. Lastly, the device will be protected by a firmware that updates with random seeds or multi-signature.

Ledger Nano S vs Nano X

Ledger Nano S vs Nano X
As mentioned above, there are two Ledger Nano models available in the market. In the image above, it can be observed that Ledger Nano S is slightly smaller than its expensive counterpart, the Nano X. Nano X is the upgraded version with more features to offer. Get to know the head-to-head differences between the two in the table below.

Model: Ledger Nano S Ledger Nano X
Best for: Holding crypto assets Portable storage and active trading
Storage: Store between 3 to 20 apps Stores up to 100 apps
Connectivity: Ledger App Live

USB Type Micro-B

Ledger App Live

Bluetooth-enabled with Ledger App

USB Type-C

Security: Certified Secure Element (CC EAL5+)

Independently certified by ANSSI

Pin code with 24 words recovery phrase

Certified Secure Element (CC EAL5+)

 

Independently certified by ANSSI

 

Pin code with 24 words recovery phrase

Product design: Size: 57 x 17.4 x 9.1 mm

 

Weight: 16.2 grams

 

Battery: none

Size: 72×18.6×11.75 mm

 

Weight: 34 grams

 

Battery: 8-hours standby when fully charged

 

How to Set Up Ledger Nano S Wallet

After unboxing the Ledger Nano S package, the user is required to initially configure it before it becomes ready for use. The process is easy and will only take around 20 to 30 minutes to fully set up the device. Learn to configure in this Ledger Nano S Wallet review.

Configure a newly-bought Ledger Nano S

    1. Hold the device and swivel the cover to reveal the micro USB port.
    2. Using the provided micro USB cord, plug-in the Ledger Nano S wallet on your desktop or laptop via the USB port.
    3. There are two navigation buttons on top of the device. Use this to navigate through the interface. Press both left and right top button start configuration.
    4. Select your PIN code. Press the left button to go to the next blank, use the right button to select the digit. To confirm, press both the left and right buttons.

Configure a newly-bought Ledger Nano S

  1. Next is a very important step, write down your recovery phrase or seed on a paper, and make sure you securely store it.
  2. To confirm your recovery phrase, the device will ask users for two words from the list. The device will display ‘Select word #’ to test and ensure another level of security. Use the navigation to select the right sequenced word the device asks for. Press both navigation buttons to continue.
  3. After this, the hardware device is ready to be used and successfully connected with Ledger Live software on your personal computer.

Note:  Follow the instructions shown on the device’s LCD screen. The instruction sheet that comes in the box will guide you accordingly.

Connect Ledger Nano S to the Ledger Live App

  1. Connect your device to the Ledger Manager on your desktop or laptop via the micro USB.
  2. Navigate through the questions and complete the security checklist.
  3. Click on Check now to verify your device is genuine. Click on continue to proceed.
  4. Press both navigation buttons to allow Ledger Manager to sync and access the device.
  5. Choose a password for Ledger Live and click on continue.
  6. Select what anonymized data you wish to share to enhance Ledger live. Click on continue to proceed.
  7. Then, you are all set! You can now manage your cryptocurrencies with Ledger Live and Ledger Nano S.

Conclusion

Cryptocurrency investors are responsible for managing their crypto assets. And among many options in the market, Ledger Nano S is one of them to securely store. Some tech reviewers would agree that this wallet has been one of the most convenient and affordable devices right now.
crypto assets storage wallet
The Ledger Nano S also stands as a highly-competitive hardware wallet in the market. For the price-conscious, Ledger Nano S would be the best in value. Compared to the more expensive Nano X, Nano S is for sale at a reasonable price of $59 USD plus free shipping to almost every country.

Moreover, hardware wallets are the more secure choice to store cryptocurrencies. Hardware wallets are the best storage solution for the average crypto holder or trader. For the rookies, the Ledger Nano S is a great hardware wallet to kickstart your crypto investment journey.

Disclaimer: All information in this Ledger Nano S Wallet Review article is solely for the user’s information and nothing else. No information in this article should be interpreted as advertisement about the subject. CoinQuora does not endorse any product or service from any company on its website, directly or indirectly.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.