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Ledger Nano S Hardware Wallet Review

Ledger Nano S Hardware Wallet Review

The Ledger Nano S is a Bitcoin hardware wallet that can authenticate transactions and store your cryptocurrency private keys to keep them safe from hackers, malware, and other online security threats.

Ledger is a market leader when it comes to Bitcoin hardware wallets with a product line of hardware wallets for security conscious traders and investors. The Ledger Nano S is a midrange model. Let’s see how it stacks up.

Ledger Nano S Key Facts

Designed ByLedger - Paris and San Francisco
What Coins Does the Ledger Nano S Support?Ark
Bitcoin
Bitcoin Cash
Dash
Dogecoin
Ethereum
Ethereum Classic
Komodo
Litecoin
PoSW
Ripple
Stratis
Zcash
Plus all ERC20 Tokens (full list here)

Coming soon: Monero, Qtum and Stellar.
For a full list of supported coins, click here.
CostAround €60/£54/$70
Available to Buy with Bitcoin?Yes - it's available here on the Ledger website.

Or it can be purchased here using Bitcoin, altcoins or Paypal.
Available at Amazon?

Also Available at Amazon
Click here to check stock.

User Interface: What Is It Like Using the Ledger Nano S?

The Ledger Nano S looks like a USB except for the screen and two small buttons that protrude from the side. So, how can something this small be used to authenticate Bitcoin transactions?

When you first receive the device, you will need to set it up. Connect it to your PC or Mac, with the micro USB, and create a password, generate a recovery seed, and set your pin. This is the most interaction you will have you Ledger device.

The rest of the user’s interaction with the device is through the Ledger Wallet. The Ledger Wallet is a chrome application that is great for compatibility as you can send and receive Bitcoins in your browser. To open your wallet, you need to enter your pin and then press both buttons simultaneously whilst the Ledger Nano S is plugged in.

The chrome based wallet application has all the standard functionality. Here you can find your Bitcoin address and it is the user interface where you will process all of your transactions.

Security:  How Secure is the Ledger Nano S Hardware Wallet?

The whole purpose of a hardware wallets is added security. We have all heard our share of horror stories and don’t want anyone running away with our hard-earned coins.

The Ledger Nano S is a safeguard. Its main function is to authenticate you as the owner of both the coins and the wallet. Unlike hackable digital software wallets, to authenticate a hardware wallet you need the screen in front of you. That is difficult, maybe impossible, to get around.

The Ledger Nano S’ micro-processor is certified against all types of attacks (both physical and logical). The banking industry has been using these chips for decades

If someone does get a hold of your Ledger Nano S, they still can’t steal your coins. If they enter the wrong pin 3 times your wallet will be deleted. This may sound scary, but the recovery seed that you were given when you set up your device can recover everything.

Design: Build Quality and Design of the Ledger Nano S Hardware Wallet

The Ledger Nano S is a slim rectangle with a metal case that pivots to cover the device when travelling or just when it isn’t in use. There is a thin blue and black screen and two navigational buttons. A USB cable plugs into the bottom of the device. The actual wallet is very minimalist, because the user interacts most with the software on the computer it is plugged into, so it doesn’t need to look flash.

This is a great example of where functionality has been put first and foremost rather than purely focusing on the aesthetics.

Functionality: Ledger Nano S Functionality and What Cryptocurrencies It Stores

The Ledger wallet has all the basic functionality you expect from a browser based wallet. The wallet itself can store Bitcoins and several other cryptocurrencies. This is the current list of support cryptocurrencies (November 2017):

  • Ark,
  • Bitcoin,
  • Bitcoin Cash,
  • Dash,
  • Dogecoin,
  • Ethereum,
  • Ethereum Classic,
  • Komodo,
  • Litecoin,
  • PoSW,
  • Ripple,
  • Stratis, and
  • Zcash
  • ERC20 Tokens

Ledger is constantly updating their firmware, supporting new cryptocurrencies and adapting to the latest forks. When you first get your Ledger Nano S you will only have the apps for Bitcoin and Ethereum installed. This is easy to do, you just go into the Ledger Manager, select the applications tab and then download applications for all the cryptocurrencies you want to store and trade.

Does the Ledger support ERC20 Tokens?

Yes – you can find a full list here.

Pricing: Is the Ledger Nano S Hardware Wallet Value for Money?

Priced at around €60/£54/$70, the Ledger Nano S is better priced than its main competitor TREZOR. If you have 1,000s of fiat in your portfolio then paying less than a £100 for some added security is a small price to pay in order to sleep a better at night. Hope for the best but prepare for the worst; an idiom as old as language.

The Ledger Nano S is a well thought out hardware wallet, which is easy to use and has a great build quality. Money well spent, if you ask me.

Summary

The Ledger Nano S is a Bitcoin hardware wallet which can support a few other cryptos if you install some additional software. It is about the size of a USB and has two small navigational buttons along with a thin screen. The Ledger Nano S is great for authorizing transactions and confirming that coins belong to the person sending them. It is an added layer of security, which separates your investment from the anarchic nature of the internet.

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Neal

Neal

Interested and invested in Bitcoin since 2016. Sports trader and matched bettor since 2014. Loves the new, developing financial world. This is our second chance.

User Interface
16out of 5
Security
20out of 5
Design
20out of 5
Functionality
20out of 5
Pricing
20out of 5
Visitors Vote
0out of 5

Overview

A relatively inexpensive wallet that does a fantastic job of protecting your precious cryptocurrency investments.

4.8

4.8 out of 5
Excellent

Tags assigned to this article:
bitcoin walletshardware walletsledger

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