The Ledger Nano S is one of the most popular cryptocurrency hardware wallets in the world. Ledger is a French company that helped pioneer the hardware wallet space when it launched in 2014. The Ledger Nano S, its first product, quickly took off as the de facto wallet of choice for crypto enthusiasts thanks to its ease-of-use, security, small device size, and affordability.
The Ledger Nano S supports over 1,100 different digital assets. It also connects with Ledger’s proprietary desktop software called Ledger Live, which makes checking your balance incredibly easy. Our review will help you decide if it is right for you.
By: Arthur Crowson | Dec 12, 2019 | Modified Aug 21, 2020
|Platforms supported:||Windows, MacOS, Linux|
|Cryptocurrency supported:||Bitcoin, Litecoin, Ethereum (1,100 others)|
|Pin Code Supported:||Yes|
The Ledger Nano S is a good choice for beginners and is fairly easy to set up. Ledger provides detailed instructions both in the box and online. Once set up, the Ledger Nano S can be used to send and receive crypto assets by using the Ledger Live app. When using the Ledger live app, you will still see clear step-by-step instructions. Confirming to send transactions on the Ledger device is a simple click of a button.
It is also affordably priced, making it a worthwhile initial investment and a safer alternative to storing crypto assets on an online software wallet.
Starting at just $59 the hardware wallet provides one of the most secure ways to store Bitcoin, Ethereum, Bitcoin Cash and other cryptocurrencies. It is not connected to the internet and therefore it is nearly impossible to hack your private keys. It is also easy to use, thanks to detailed instructions.
The combination of security and ease of use when combined with the Ledger Live app, along with the multitude of supported assets, gives the Ledger Nano S user a rich experience.
Some assets such as Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin work best with the Ledger Nano S because there’s built-in support for Ledger Live (Ledger’s desktop interface). Overall the Ledger Nano S supports 1000+ digital assets.
Here’s a list of some of the major cryptos the Ledger Nano S supports:
The Ledger Nano S has been fully certified by French cybersecurity agency ANSSI. It has a secure element chip onboard that stores your private keys and signs transactions.
In order to access the device you need to enter your chosen 4 or 8-digit pin code. All transactions must be confirmed by physically pressing the buttons on the Ledger Nano S. This means that no one can send assets from your accounts without having physical access to your device and knowledge of your pin code. Upon 3 incorrect pin tries, accounts on the Ledger Nano S are wiped.
As long as you have your 24-word recovery phrase, you can always recover access to your crypto assets even if the device is wiped.
In order to prevent tampering, all Ledger devices come sealed with an anti-tampering sticker. As long as you purchase it from a trusted source, it is one of the most secure ways to store your cryptocurrency.
The Nano S offers support for Windows, MacOS and Linux.
The Nano S does not have built-in support for Android or iOS mobile devices. To connect to an Android mobile phone of tablet, you can buy an OTG kit from Ledger. This kit contains cables and adaptors required to connect your Ledger Nano S with your Android device. There is no support available to connect to an iOS mobile device.
The Nano S has a somewhat limited hard drive capacity. This means you will only be able to have a certain number of apps on the device. However, you can add and remove apps as you choose without losing your crypto assets.
The lack of Bluetooth connectivity is a potential drawback. To get Bluetooth you’ll have to upgrade to the more expensive Ledger Nano X. Some of the newer hardware crypto wallets by Ledger include built-in batteries and Bluetooth for a completely wireless experience.
The Ledger Nano S is one of the safest ways to store cryptocurrency. Unlike software wallets the Ledger is not connected to the internet, making it nearly impossible to hack.
Ledger also has an exceptional reputation in the crypto community. Just make sure you purchase your device from a certified dealer.
You can always recover access to your funds by using your 24-word seed phrase should you lose your Ledger device. Always keep a backup of your seed phrase and store in a waterproof, fireproof place.
If you have an Android 7+ device then you can purchase a separate USB-C converter that will allow you to use your phone with the Nano S. If you want to use it with iOS you will need a Nano X.
The only real risks stem from user errors such as losing your recovery phrase, buying a counterfeit wallet from a disreputable site, or letting someone see/steal your recovery phrase.
Yes, it can definitely hold multiple crypto assets at once! There are limitations on the number of applications that can be installed on the Nano S due to limited hard drive storage. You can install and uninstall apps without losing any assets though, so you can simply remove an app when you don’t need it and add it when you do.
No, there is no limit on how much crypto can be accessed from any hardware wallet.
Connect your device to your computer and enter your pin. Then choose Send or Receive on your Ledger Live app. Follow the on-screen instructions. Sending Bitcoin will require physical confirmation by clicking the buttons on the device.