Ledger Nano S Review

Ledger Nano S

TL:DR Ledger Nano S
For ~$67.95 USD or $89 CAD you can store your own private keys for Bitcoin and over 1100 other cryptocurrencies.

With a 24 seed word list, passphrase and PIN protection you can keep your cryptocurrency safe on the secure chip element and recover your cryptocurrency anywhere in the world.

Bonus: U2F ability to secure the rest of your digital world (Facebook, Google, GitHub, DropBox, and more).

Welcome to my Ledger Nano S Review – one of the most popular cryptocurrency hardware wallets.

Ledger (the company)

Ledger is the company behind the Ledger Nano S hardware wallet. Ledger was launched in 2014 by 8 experts with complementary backgrounds in embedded security, cryptocurrencies and entrepreneurship. The company has grown to over 130 employees in Paris, Vierzon and San Francisco. They have clients in 165 countries and sold over 1.5 million Ledger hardware wallets.

This is a company that has been around for a long time by cryptocurrency industry standards. They are one of the few companies in the cryptocurrency space that has a record for high integrity and quality products and services.

Mission statement of Ledger:

We aim at securing the new disruptive class of crypto assets: Financial assets like cryptocurrencies or Initial Coin Offerings (ICOs), Data assets like sensors, Internet of Things (IoT) devices or machine to machine, and Digital identities like second-factor authentication or passwordless login.

Ledger Website, About Ledger Page

Ledger Live App

Ledger Live is the App that is designed for the Ledger Nano S and Ledger Nano X hardware wallets. It has an intuitive, clean design with a simple interface. The Ledger Live App is widely compatible with Mac OS, Windows, Linux, iOS, Android.

Ledger Live App

Ledger Live App Features:

  • Send cryptocurrency
  • Receive cryptocurrency
  • Manage multiple accounts
    • Unlimited accounts
    • Full transaction history
    • Detailed Transaction information
    • One-click account overview
    • Add new or existing accounts
  • Track your portfolio using various currencies
    • USD, EUR, CAD, AUD, GBP, JPY, HKD, MXN, KRW, NZD, RUB (… more)
    • BTC
    • Live, real-time portfolio balances and updates.
  • Buy 100s of cryptocurrencies/tokens from links within the app

The Ledger Live App is an independent stand-alone software that is not a browser client. This makes it more secure against, and less susceptible to, third party policy/software changes as well as hacker attempts.


What is the Ledger Nano S?

The Ledger Nano S is a cryptocurrency hardware wallet that is independently certified and build around a secure chip. The Ledger Nano S has state-of-the-art security that never exposes your private keys

Ledger Nano S boasts:

  • Simple two-button operation.
  • Display screen to verify addresses and transactions.
  • Secure chip element, engineered to withstand sophisticated attacks – private keys are always isolated on the device.
  • Tamper-proof due to the secure chip element inside the Ledger Nano device.
  • Proprietary operating system: BOLOS
  • U2F functionality
  • PIN protection
  • Passphrase security

BOLOS is a proprietary operating system designed by Ledger for the Ledger products. It creates an individual shield around each app on your device to help protect your sensitive private key information.

The physical Ledger Nano S hardware wallet itself can function as a U2F key, certified by and in conjunction with the FIDO (Fast ID Online) Alliance. Now your Ledger Nano S not only protects your cryptocurrency but also your login to sensitive accounts such as Facebook, Google, your bank, Dropbox, GitHub and more.

You require your PIN to unlock your ledger device each time you connect it to your laptop. This is an added layer of security.

Moreover there is the added protection of a Passphrase that is optional to initiate. The passphrase is essentially your 25th recovery word. You need it to login to your Ledger Live App.

How secure is your crypto? You cannot send it unless you have your physical Ledger Nano S, have your PIN and have your passphrase. Thats quite secure.

For aesthetics you can get a Ledger Nano S in various colours (left to right) Matte Black, Saffron Yellow, Flamingo Pink, Jade Green, Lagoon Blue, or Transparent.

Supported Cryptocurrencies

Over 1100 supported cryptocurrencies.

  • Bitcoin – BTC
  • Ethereum – ETH
  • Litecoin – LTC
  • XRP – XRP
  • EOS – EOS
  • Cardano – ADA
  • Tron – TRX
  • IOTA
  • Binance Coin – BNB

… and hundreds more.

  • Neo – NEO
  • Dash – DASH
  • Dogecoin – DOGE
  • Ethereum Classic – ETC
  • Stellar – XLM
  • Bitcoin Cash – BCH
  • Monero – XMR
  • Zcash – ZEC
  • Tezos – XTZ

There are so many cryptocurrencies supported that it would be infeasible to list them all. Not to mention that it is likely over 80-90% of all cryptocurrencies created will fail. Regardless, the Ledger Nano S can support you in your wildest cryptocurrency endeavours.

One caveat to keep in mind is that the Ledger Nano S can only support 3-4 cryptocurrency applications on the device at any one time. You can store hundreds of cryptocurrencies with the private keys generated from the Ledger Nano S, but you cannot access them all simultaneously. You must add/remove the apps on the device. A nuisance, but it still has the most supported cryptocurrencies.


What’s in the Box?

  • 1 USB hardware wallet
  • 1 USB cable
  • 3 paper cards for 24 recovery seed word list
  • Info booklet

The actual device is approximately 56.95mm x 17.4 mm x 9.1 mm weighing an ultra light 16.2g. Cleanly designed with brushed stainless steel and plastic. No batteries required. No need to charge.


Ledger Nano S Price

Considering the protection that the Ledger Nano S offers for your cryptocurrency, the prices below are very reasonable.

Ledger-Nano-S-Hardware-wallet

$67.95 USD

$89 CAD

$59.75 EUR

* These prices do not include your local sales tax nor any duty fees after shipping. *


Ledger Nano S Pros and Cons

Pros

  • Small/compact
  • Secure chip, private keys never exposed
  • U2F functionality
  • Passphrase option
  • PIN protection
  • Over 1100 cryptocurrencies supported
  • Affordable price (well under $100)
  • Verify transaction address on device (avoids third party tampering)
  • Continued support and updates from Ledger (the company)

Cons

  • Small display difficult to read address.
  • Small memory capacity, can only support 3-4 cryptocurrency apps, making it cumbersome to delete/download anytime you wish to send cryptocurrency.
  • Wired, must have physical contact with device.

Ledger Nano S User Reviews

Fortunately there are thousands of reviews of the Ledger Nano S cryptocurrency hardware wallet. Partly because it is so popular. This is useful to use because we can see what others think of this device.

On the official Ledger website there are over 2445 reviews, with an average rating of …

4.8/5 Stars

I’ve curated a series of rating from each star category below:

Five Star Review of the Ledger Nano S:

Four Star Review of the Ledger Nano S:

Three Star Review of the Ledger Nano S:

Two Star Review of the Ledger Nano S:

One Star Review of the Ledger Nano S:

I have to say that for the lower rated reviews I believe that many of the users did not give much effort to understand how to use the Ledger Nano S. Just like when you get a new smartphone, you have to learn how it works, the short cuts, the user interface and swiping and app organization etc. The same applies to ANY new device, including the various cryptocurrency hardware wallets.

Additionally, many of the complaints for the low star reviews, such as low storage capacity and inability to store certain alt-coins are addressed by the Ledger Support Team in comments on the reviews. In my opinion, I believe that there really shouldn’t be any 1-star reviews and 2-star reviews should be quite rare. The Ledger Team has done a lot to continually improve its hardware wallets.


Markshire Crypto Conclusion On Ledger Nano S

Markshire Crypto’s Conclusion on Ledger Nano S cryptocurrency hardware wallet:

a great buy.

With nearly 1.5 million Ledger Nanos sold worldwide, its vast supported cryptocurrencies and simple, cleanly designed user interface, its no wonder the Ledger Nano is a worldwide popular choice for crypto enthusiasts, custodial companies, cryptocurrency exchanges, family offices and more.

It has been around since 2014, which is 5 years. Bitcoin launched January 2009, so Ledger has been around for 50% as long as Bitcoin, which is actually a really long time in this nascent industry. They have time on their side relative to many other cryptocurrency startups and newer hardware wallets.

Overall, I recommend that you protect your cryptocurrency with a Ledger Nano S. After all…
#NotYourKeysNotYourBitcoin
#NotYourKeysNotYourCrypto

Please feel free to drop a comment, question, or note for me. I love hearing from my readers

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Author: Markshire Crypto

Millennial cryptocurrency investor, writer and marketplace researcher. Founder of Markshire Crypto. Mark has been involved in the cryptocurrency industry since 2017, following the industry daily and creating content.

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