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The Ledger Nano S is a great tool for crypto beginners and experts that have a few invested projects. The Ledger Live ecosystem makes crypto management easy, but the lack of storage and connectivity options can limit its use.
AT A GLANCE
- Simple and powerful to use
- All your digital assets in one place
- Buy, exchange and grow your crypto
- Reclaim power over your money
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Pros & Cons
The Ledger Nano S is an affordable and useful tool for securing cryptocurrency and other blockchain assets. However, Ledger isn’t the only company out there making hardware wallets for the average consumer.
So, what makes the Ledger Nano S stand out from its competition?
The Ledger Nano S is a well-known product from Ledger that offers simple access to your crypto assets, all while keeping them safe from exploits.
However, the Nano S has some features that not only back up this perception but also make it clear why this wallet is one of the most popular cold storage wallets on the market.
Let’s take a look at what these features are in this Ledger Nano S review.
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About Ledger Nano S
The Ledger Nano S is the budget-friendly cold storage wallet offered by Ledger. This hardware wallet doesn’t have wireless capabilities or expanse application storage.
But, these limitations make the Ledger Nano S great for crypto holders that have a couple of favorite currencies, or new folks that are just starting to explore this exciting new asset class.
Ledger themselves have been committed to device security and creating quality hardware for almost five years now. They have stumbled at times, including the 2020 data breach the company experienced.
Still, Ledger maintains their commitment to security, meaning that, so far, no one has had its hardware wallets hacked.
The main feature of the Ledger Nano S is the security it offers as a cold storage wallet. When you place your crypto into the wallet and disconnect it from the blockchain, malicious actors can’t get into the wallet and send the crypto to other addresses.
The transaction requests eventually become rejected by the blockchain, keeping your crypto safe. On top of this, Ledger offers their Ledger Live platform as a marketplace of apps to manage your crypto, such as a Bitcoin wallet app.
You can download these apps onto the wallet to not only store your crypto but also manage or stake your crypto, allowing you to grow the overall value of your assets.
Finally, the user interface for the device and Ledger Live are clean and easy to use. The screen on the Nano S itself isn’t a touchscreen, but the screen is easy to read and the interface buttons on the top of the device are responsive.
Now that we’ve talked about this wallet’s main features in this Ledger Nano S review, let’s have a look at pricing. As the budget option from Ledger, the Leder Nano S is less expensive than the other Ledger options.
At $59.99, the Ledger Nano S comes in at around the same price as other budget cold storage wallets. One of the perks about buying in the Ledger ecosystem is access to the Ledger Live app.
In that app, you can manage and grow your crypto assets without having to go into the individual apps themselves. The Ledger Live application is included with your hardware wallet.
Once you have your Nano S, you won’t have to pay any subscription fees for the applications that you’ll use to store and grow your crypto assets.
Who Should Use Ledger Nano S?
The Ledger Nano S is great for folks that are just starting in cryptocurrency. Folks getting their start tend to have a handful of coins or tokens that they invest into, meaning that the Ledger Nano S has enough storage for their holdings.
The Ledger Nano S is also great for crypto veterans that have one or two projects that they believe in. As the crypto world continues to grow, more projects come out and bring new excitement to the space.
Many veterans have moved on from this excitement, instead preferring to focus on the coins that have so far stood the test of time. Finally, the Ledger Live ecosystem makes managing your assets easier.
You can manage and exchange your cryptocurrency from inside of the Ledger Live app, thus keeping things simple.
Should I Use Ledger Nano S?
If you have a handful of coins that you hold as a crypto investor, then the Ledger Nano S is a great choice for you. The Ledger platform focuses on security and simplicity, meaning that you can manage your crypto easily no matter what your experience level is.
We recommend that you check out the Ledger Nano S to see if the features it offers will help you out. Considering how easy it is to use the Nano S, we think it’ll fit in with your cryptocurrency plans!
Ledger Nano S FAQ's
To end this Ledger Nano S review, here are some of the biggest questions folks have out there about the Ledger Nano S:
Between the manufacturing practices that Ledger uses and the unique BOLOS OS, Ledger is safe to use to store your cryptocurrency.
Also, Ledger requires that users input a PIN when using the Ledger Live app to ensure that the owner of the hardware wallet is the one trying to transact with the stored crypto.
For a crypto holder looking to store their select coins or tokens, a Ledger Nano S is definitely worth it. The Nano S is easy to use and helps keep your cryptocurrency from being falsely transacted by taking the associated crypto wallet off the Internet, preventing the blockchain from reaching the coins.
The Ledger Nano S cannot be hacked between the proprietary nature of the device’s OS and the fact that the hardware wallet is usually disconnected from an Internet connection.
However, Ledger users in 2020 saw their data leaked due to a breach in Ledger’s servers.
The Ledger Nano S is great for beginners thanks to the low price of the device and the integrations that Ledger has with third-party applications.
These partnerships allow Ledger Nano S users to manage and exchange their cryptocurrency in the Ledger Live ecosystem instead of going to individual sites and applications on their own.
The number of coins you can store on a Ledger Nano S depends on which crypto apps you download onto the device. Most users can store between three and six apps on the device, meaning you can store three to six cryptocurrencies on the Nano S.
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Ledger Nano S
Ledger Nano S allows you to secure, buy and grow your crypto assets with the world's most popular hardware wallet.