Is the Ledger Nano S the Best Hardware Wallet?

Ledger Nano S Hardware Wallet
Ledger Nano S Hardware Wallet

Overview

The Ledger Nano S is a very popular cryptocurrency hardware wallet and one of the best hardware wallets on the market. This wallet supports a wide variety of coins, has an easy-to-use UI (user interface) and provides excellent security for your cryptocurrencies.

Ledger was founded in 2014 and grown to become a leader in cryptocurrencies and blockchain application security and infrastructure solutions. Ledger hardware wallets are one of their products and are sold in 165 countries.

The Ledger Nano S works similarly to any hardware wallet. Setup is pretty straight forward and only takes a few minutes to complete. You’ll first select a PIN to restrict access to the device. Then, you’ll get a 24-word seed which is used to create your private keys. Writing down your seed takes the longest but it is a MUST; keep it safe. Don’t worry if your computer is compromised… Well, worry, and FIX it! But, you don’t need to worry about the Nano S while using an infected computer. You’ll be using the second screen during this process. This prevents a hacker from seeing the seed.

Once the set-up, it’s time to install Ledger Live. This is a desktop app allowing you to send and receive cryptocurrency. It is easy to use and intuitive UI. Already have a software wallet? No worries, simply use the Ledger Nano S to secure it as well.

Ledger Nano S

59.00
9.2

Cost

9.1/10

Functionality

9.1/10

Security

9.6/10

Usability

8.9/10

Pros

  • It is a multi-coin wallet supporting a wide range of coins.
  • Very secure with high-end security features.
  • Multi-platform compatible.
  • Several free applications and guaranteed updates.
  • Many great features including a second screen
  • Very easy to use

Cons

  • Higher price tag than competitors.

 

 

Is Ledger Nano S the Best Hardware Wallet?

Cryptocurrencies require wallets for storage. No wallet no currency. We know this right? The question is, what type of wallet should I use? Each type comes with its advantages and disadvantages. However, a Hardware wallet is the best bet if security is your primary concern. With hacking being a thing, and sure to continue, keeping your money in your pocket, so to speak, is about as safe as it’ll get. This brings us to the Ledger Nano S. In this review we aim to address the security, as well as all other considerations, of the Ledger Nano S.

Bitcoin coin in wallet on black background
Bitcoin coin in wallet on black background

 

Type of Wallet

As mentioned, the Ledger Nano S, is a hardware wallet. And, again, this is the way to go if security is a primary concern. Because they work offline they aren’t subject to the same hacking threats as other wallets. This makes the Nano S is a solid choice for storing cryptocurrency.

Included with Wallet

The Ledger Nano S wallet includes:

  • The Ledger Nano S
  • USB cable
  • Instructions
  • Recovery Sheet
  • Accessories

 

 

Benefits

The high-end security features making it one of the best hardware wallets

Mobile and desktop wallets may offer a bit more flexibility in accessing your digital currency but they don’t offer this level of security. The loss of cryptocurrency is irreversible. There is no one to call and nothing to be done. When it’s gone… It’s GONE! So, carefully consider Security when choosing your next cryptocurrency wallet.

  • Pin codes – A 4-digit PIN is required every time it is connected to a computer preventing unwanted access.
  • Inbuilt Display – Providing a secure way to set-up the device and to validate transactions.
  • Physic confirmation – Yet another great security feature. Any transaction requires pressing a button on the device for providing physical confirmation.

Safety & Security

  1. The Ledger Nano S hardware wallet guarantees the safety of the cryptocurrency by storing sensitive and confidential data within a tamper-proof secure environment.
  2. This ensures private keys aren’t accessed by unauthorized individuals.

Backups

The Ledger Nano S helps minimize the loss of coins by using an integrated backup feature. It does this by backing up the account and coin details to a recovery sheet.

 

Usability

The Ledger Nano is a very easy to use and intuitive device and detailed instructions are provided with the wallet. Additionally, Ledger has comprehensive online resources to explain the setup and use of the device.

Quick Guide

  1. Order your Ledger Nano S.
  2. Connect your wallet to your computer with the USB cable
  3. Follow the onscreen instructions.
  4. Select your 4-digit PIN. Pick something you’re sure to remember. You’ll need it EVERY TIME you access to connect the device to a computer.
  5. Create your first Backup.
  6. Install the Ledger apps on your computer. There are over 50 and all free.
  7. That’s it, you’re good to go! You can now send and receive cryptocurrencies from your wallet.

OS Compatibility

The Ledger Nano S is designed to be compatible with the following Operating Systems

  • Linux OS
  • Windows 7 and above
  • Mac OS 10.8 and above
  • Chrome OS

Coins Supported

The Ledger Nano S is a multi-cryptocurrency wallet allowing the storage of all your coins in one very secure location. The top supported coins can be sent & received with Ledger Live.

The Ledger Nano S supports over 700 coins and tokens including:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Zcash (ZEX)
  • Dash (DASH)

Other less popular coins & tokens may require additional software for sending and receiving.

 

Reputation

The Nano S wallet is, of course, made by Ledger. Ledger is a well respected and established company based in San Francisco, Paris and Vierzon.

They have a track record of excellent customer support and are considered very reputable.

Customer support

While the Ledger Nano S is very easy to use and comes with detailed instructions, a technical issue can come up. Solutions can often time be found in their online resources or users can contact tech support directly. Ledger has reliable and helpful customer support committed to solving issues.

Feedback

The Ledger Nano S and Ledger, in general, have earned community trust and loyalty. It is considered by many to be the best hardware wallet. This is in no small part due to the sophisticated security features, ease of use, reliability, helpful customer service, and a demonstrated commitment to improving products with the latest technology.

 

Costs

The Ledger Nano S is a bit more expensive than its main competitors. This is in part due to its many features including greater coin support.

Price

Ledger Nano S currently retails at $99.

Fees

Ledger Nano S transactions are subject to transaction fees.

 

Final Verdict

EXCELLENT

The Ledger Nano S is an EXCELLENT cryptocurrency wallet! It is ideally suited to both beginners and professionals alike. Its security features are excellent for storing large amounts of cryptocurrency. At the same time, it gives great peace of mind to anyone storing, sending, or receiving any amount.

Whatever your situation, the Ledger Nano S Wallet guarantees to safeguard your coins.

It’s advanced integrated security features (inbuilt display, push-button verification & PIN) are only enhanced by it’s intuitive, easy-to-use, interface.

These wallets are the real-deal, they provide safe and secure storage and are made by an established supportive company.

Verdict: It’s an EXCELLENT product at an affordable price.

 

Related articles

You may also be interested in

Leave a Reply

Your email address will not be published. Required fields are marked *

News & Reviews right into your inbox.

Newsletter

Never Miss Out On an Opportunity

Stay on top of industry trends and profitable opportunities with the latest news, articles and resources.

Cookie policy
We use our own and third party cookies to allow us to understand how the site is used and to support our marketing campaigns.