The Nano Ledger S
This Nano Ledger S Review is a cryptocurrency hardware wallet device to store crypto funds. It’s the most popular hardware device with more than 1.5 million devices sold in 165 countries. Ledger company was formed in 2014 and is made by a team of world-class experts with backgrounds in the security, cryptocurrency, and smart card industries. You can also click the link to read about the top 10 crypto wallets on this website if you wanted to know more.
Cold wallets known also as hardware wallets have become more popular with its security to keep the funds safer. Cryptocurrency users are switching to hardware wallets because of offline connection that keeps malicious attacks away from your wallet. Ledger nano S is one of the hardware wallets with a unique technology of features.
Ledger hardware wallet has become the bestselling hardware wallet and the first option for hardware wallets. It offers multi advanced security features, with support on major cryptocurrencies and ERC-20 tokens. Ledger offers two models, the Ledger Nano S and the Ledger Nano X.
Ledger Nano S
The Ledger Nano S was released in 2016 and costs $59 USD. It supports some of the features of the new model Ledger Nano X. It’s the most popular hardware wallet and supports 25 cryptocurrencies like Bitcoin, Ethereum, Ripple, and Altcoins and requires a USB-B cable connection. The old version has some manual features such as adding new crypto assets that require adding them manually and not automatically. The Ledger Nano S doesn’t support the Bluetooth integration or WiFI connection.
Nano Ledger S model is made with materials like brushed stainless steel and plastic. The S model has a size of Size: 56.95mm x 17.4mm x 9.1mm, with a weight of 16.2 grams and supports USB-B cables. It’s compatible with Windows 8+ with 64-bits, Mac OS 10.10+, and Linux. It supports Android devices with an On the Go (OTG) cable to connect it with your Nano device. The Ledger Nano S can be controlled with only 2 buttons and it doesn’t offer a touchscreen.
It uses BOLOS, a unique operation system developed by the Ledger team. With BOLOS operating system, the Ledger wallet offers the largest security of your device against malicious applications. The keys of your application if it’s uninstalled remain stored and secure on the Ledger wallet. The Ledger Nano S model comes in Black, Transparent, Blue, Green, Yellow, Pink colors.
Ledger Nano X
This Nano Ledger S Review explains the new model was released in 2019 with more advanced features. The X model is less more popular than Ledger Nano S. The Ledger Nano X has more battery capacity of 100 mAh with a USB-C cable required for connection. It supports both WiFi and Bluetooth integration with 25 cryptocurrencies supported. The Ledger Nano X costs $119 USD.
Ledger Nano X model supports 23 cryptocurrencies as Bitcoin, Ethereum, Litecoin, and other altcoins. For cryptocurrencies that are not supported in the Ledger Live application, the user can use other compatible wallets. Ledger Nano X provides the highest security for your wallet by keeping the private keys of the user on a secure chip. The user can install up to 100 applications with Ledger Live application.
It supports USB-C cables with a screen size of 30 x 13 mm and available only on the black color. Ledger Nano X supports the Bluetooth connection and USB connection with Ledger Blue. The operating system is Bolos, the same operating system used for Ledger Nano S.
Which cryptocurrencies Ledger Nano supports?
Ledger Nano X supports 25 cryptocurrencies, as listed below: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Dogecoin (DOGE), Stellar (XLM), Zcash (ZEC), Ripple (XRP), Dashcoin (DASH), Stratis (STRAT), Komodo (KMD), Ark (ARK), Expanse (EXP), Ubiq (UBQ), Vertcoin (VTC), Viacoin (VTC), Neo (NEO), Stealthcoin (XST), Hcash (HSR), Digibte (DGB), Qtum (QTUM) and PivX (PVX).
Ledger Nano S supports 16 cryptocurrencies, as listed below: Bitcoin (BTC), Bitcoin Cash (BCH), Binance Coin (BNB), Cardano (ADA), Dashcoin (DASH), Dogecoin (DOGE), Eosio (EOS), Ethereum (ETH,) Ethereum Classic (ETHC), Litecoin (LTC), Monero (XMR), Ripple (XRP) Stellar (XLM), Tether (USDT), Tron (TRX), Vertcoin (VTC) and Zcash (ZEC).
Ledger Nano offers more than 1250 ERC20 tokens available and crypto users can use other external wallets to manage other assets. To manage the 25 cryptocurrencies and other ERC20 tokens, Ledger users can send and receive crypto with Ledger Live. With Ledger Live, you can manage your crypto in your Desktop, Mac, Android, and iOS devices.
Ledger Live allows access to your balance, assets distribution, and transactions in real-time. Ledger Live offers secure transactions with confirmations to ensure that users are sending and receiving funds on the right address. With the multi-accounts features, Ledger users can switch to multi-accounts and different apps for Bitcoin, Ethereum, and more.
Ledger Live supports crypto assets developed and supported by third-parties. The user cannot add the accounts linked with third-parties, but the user can use third-party websites for them. Ledger Live can be used with many devices and allowing sharing the computer with many owners of the Ledger device.
Security of Ledger Nano
To confirm a transaction when you send money, users have to physically press both buttons at the same time. With this, Ledger users can feel more secured as the payments have to be authorized physically and only from the wallet owner. Nano Ledger S offers PIN Code protection with a 4 number digit code. The pin code ensures safety to prevent others to access your account. With the 4 digit pin code, the user can prevent access to the Ledger device from unknown authorizations and keeping the Ledger wallet safer. The PIN code needs to be stored in a safe place and protected from water, fire damage, thefts, unknown people, etc. It’s not safe to store the PIN-code on a computer device or a phone, as it can get compromised.
Recovery Seed Phrase
The recovery (seed) phrase is a 24 words phrase designed for recovering the wallet. If the user losses access to the hardware device or its wallet was stolen, the user can recover the wallet with the recovery phrase. By using a new Ledger wallet, the user can recover the funds of the lost hardware device on the new hardware device. Losing the recovery phrase will result in losing the entire wallet’s funds. It’s recommended to store the recovery phrase in a safe place as the phrase can not be reset. The recovery seed phrase should not be kept on a computer or phone device and its recommended to make a digital copy of the recovery seed in case of any damage.
Ledger offers a “Passphrase” feature which allows the user to add another extra layer of security to the device. With the passphrase, the user protects the wallet in cases where the PIN or recovery seed phrase is compromised. The user can add as many passphrases he wants with the largest of 100 characters for each passphrase. To set up the passphrase, the user needs to connect to the Ledger Nano X device with the PIN code. After connection successfully with the PIN code, the user needs to hold both buttons to access the “Control Center”. From the control center, the user clicks on the Security tab menu and follow the instructions on the screen for the passphrase.
It’s recommended to buy Ledger Nano wallet from authorized resellers or the official website www.ledger.com
Funds in Ledger Wallet can be stolen easily with a second-hard Ledger hardware wallet. Scammers can set up a recovery phrase and ship to the victim and if the victim imports funds to the wallet, the scammer can steal the funds with the recovery phrase.
Ledger auto-lock feature automatically locks the Ledger Nano S device after a period of inactivity. Auto-lock is recommended to use for optimal security by locking the device in case you forget your wallet device still connected. After the auto-lock is enabled, it requires the PIN code to enter after each new connection to the device. The auto-lock feature can be enabled for 1 minute, 3 minutes, 5 minutes, and 10 minutes. To activate the auto-lock option, the user has to press both buttons from the Ledger device. The user can lock the Ledger device at any time, by holding both buttons for 3 seconds.
Earn money with ledger staking
Yes, that’s right, Ledger allows Ledger Nano user devices to earn money with staking. Ledger Nano users can earn money by holding crypto assets with Proof-of-stake (PoS). With users, validating transactions, and creating new blocks on blockhain network. Ledger users can stake with 7 cryptocurrencies and earn rewards on Ledger Live or external wallets.
How to stake coins with Ledger Live:
- Install the Ledger Live on your device and create or login to the account.
- Migrate your crypto funds to your device using Ledger Live.
- Start staking and earn rewards.
How to stake coins with other external wallets:
- Install the crypto application on your Ledger device.
- Choose the third party wallet to manage your crypto funds.
- Migrate your crypto funds to your device using the selected wallet.
- Start staking and earn rewards.
Ledger offers the affiliate program for Ledger users to earn money with a 10% commission for each sale. Ledger currency has more than 18,000 registered affiliate users and offers payouts on Bitcoin. The affiliate program grants access to creative banners, links, videos, and access 24/7 to the affiliate dashboard.
How to set up the Ledger Nano
- Plug-in your Ledger Nano S into your computer and connect it with a USB-B or USB-C cable.
- Set up a PIN code. The Ledger Nano device requires you to set up a 4-7 PIN code number. It has the numbers on the top of the device and it asks the user for PIN code every time you use it.
- Record your recovery (seed) phrase. Ledger Nano device requires a recovery phrase that’s used for recovering your wallet. The 24 recovery phrase is used for recovering the funds in case the user loses the wallet and can restore the funds on a new Ledger Nano device.
- Confirm your recovery (seed) phrase. Ledger Nano device will need the user to confirm the recovery phrase with two random words. Users can navigate with the top buttons to write the words.
- Install the Ledger Live App. The application for Windows, Linux can be downloaded directly from the Ledger’s website. For Android phones through Google Play and for iOS devices through Apple Store. After downloading, follow the instructions on the Ledger Nano device, set up a strong password, and install the applications for cryptocurrencies you own.
The ledger nano comes with an affordable price of $59 USD for users with a tight budget. It offers advanced security protection for keeping your crypto funds safe with support on many devices. It doesn’t offer a touchscreen for a smother experience of the wallet, however, the device can be navigated quick and easy with the buttons built on the Ledger device.
It supports most of the major cryptocurrencies like Bitcoin, Ripple, Ethereum, etc. With Ledger Nano X released on a later date and with more advanced features as Bluetooth integration, the X version has over 200,000 sales in total. Meanwhile, The Ledger Nano S is the most popular model with over 1.4 million sales and the S model is the recommended device for users who tend to not make many transactions.
Compared to the Trezor hardware wallet, Nano Ledger S offers the same security features. When it comes to the user interface and design system, Ledger Nano lacks a user-friendly navigation system without a touchscreen for navigation. Both Ledger and Trezor offer most of the major cryptocurrencies and ERC-20 tokens.
Overall, Ledger Nano is the perfect hardware wallet for users with advanced and modern features. The user can choose between two models with reasonable prices to ensure maximum security for the user. It’s recommended to buy Ledger from the official website or authorized resellers and avoid suspicious sellers without authorization of the Ledger.
We hope you enjoyed this Nano Ledger S Review and If wanted to read more we would also recommend our Trezor vs Ledger Review.
Image via shutterstock, Writer Behar H.