Last update: Jun 9, 2021

Ultimate Ledger Nano S Review

4.8/5

One of the best hardware wallets you can buy to keep your cryptocurrency safe is the Ledger Nano S. This wallet is available for purchase on the Ledger website for USD 59.  The wallet comes in several colors, however, most of them are sold out at this time. You can pay via credit card, PayPal, or with Bitcoin.

  • Ledger Nano S

    1. Type Hardware Wallet
    2. Fees Gas Money Based Fees
    3. Two Factor Authentication FIDO U2F
    4. Cryptocurrencies Supported Over 1000

The wallet comes in several colors, however, most of them are sold out at this time. You can pay via credit card, PayPal, or with Bitcoin.

If you decide to order a Ledger device, you should expect that your device will be delayed by a few weeks.

No matter where you are, keep in mind that your package will require a signature.

So, once you receive your tracking information, be sure to be home when it arrives.

History

Ledger teams

Ledger resides in Paris, France, and was established in 2014 by a group of blockchain experts.

These experts enjoy working together to create hardware wallets, which has resulted in the development of the Ledger Nano S and Nano X.

Since its launch, Ledger has seen significant growth as the demand for its wallets continues to rise.

This is evidenced by the sheer number of units the company has sold in the past few years.

In 2016, Ledger sold a paltry 30,000 units. A year later, the company shipped nearly a million units.

Can Ledger Nano S be hacked?

This is a tricky question with an answer that depends on your viewpoint.

It’s true, Ledger was hacked in 2020, but it was the site itself that was breached by malware, not the hardware wallet.

However, keep in mind that your offline wallet is only secure as you make it.

Take as many steps as necessary to ensure your funds are safe and secure.

This includes enabling 2FA on your Nano S device, keeping your passwords and private keys in safe places, and only providing personal information to verified email addresses.

Wallet
Ledger Nano S

If you don’t want to mess around with software wallets, you should check out the Ledger Nano S. This affordable hardware wallet is a great way to keep your coins safe and secure. With support for nearly every coin on the market, it’s tough to go wrong with the Nano S.

To get your hands on this high-quality, affordable hardware wallet, visit the Ledger website

3.5/5
Visit Ledger Nano S

Unboxing

Once your Nano S arrives, it’s time to get it out of the box and take a look at it.

What can you expect the first time you use your device?

Let’s dig into the details surrounding the design and appearance of your Ledger hardware wallet.

Physical appearance

Ledger Nano S Size In Hands

You won’t see the Nano S win any awards for its design anytime soon, but that doesn’t mean it’s awkward and clunky link some of its rivals.

One of the best words you could use for its appearance is discreet.

If not for “Ledger” etched into the stainless steel side of the device, it’s easy to see how you could mistake it for a thick flash drive.

Once you open it up, you’ll immediately notice the differences that make the device unique.

There is a small screen, a micro-USB port, and two buttons sitting on top of the device used for navigating through the menus.

You can purchase the Nano S device in several colors. Unfortunately, the only color currently available is black. If you want a different color, you’ll have to wait until they’re in stock.

Materials

Ledger Nano S Material

The body of your Ledger Nano S is made of stainless steel.

This material makes the device look sleek and stylish, which is why a lot of people prefer Ledger’s hardware wallets.

Plus, with a stainless steel finish, the device is more durable than many of the other wallets on the market.

Buttons

On top of the device are two small buttons you can use to move through the menus.

The right button is to move up or right, while the left button is for moving down or going left.

Hold down both buttons to respond to a prompt on the screen or select a specific menu item.

LED screen

Ledger Nano S LCD Screen

Your Ledger Nano S also has an LED screen, which is what you’ll find on many hardware devices in the market today.

Even though the screen is small, it offers a way to see what you’re doing as you move through the menu.

While most of today’s hardware wallets include screens,

How to use it? Step by step guide

To get started with your device, you’ll have to download and install the Ledger Live software.

This software will guide you through setting up your device, which includes adding wallets so you can store your digital assets safely.

Step 1 – Set your Ledger Live password

Set Password Nano Ledger S

When the Ledger Live software launches, it will prompt you to enter a password.

It might take some time since you’ll be doing it on the device itself using the small buttons, but be sure to choose a difficult password that only you know.

Step 2 – Connect and perform initial setup

Preform Initial Nano Leder S setup

After you’ve set your password, connect your Nano S to your computer with the micro-USB cable that comes with the device.

Now you’ll need to set up a PIN code, which is as simple as following the instructions provided by the Ledger Live software.

Step 3 – Generate and record recovery passphrase

Recovery Phrase Nano S

Next, you’ll need to set up your 24-word recovery phrase, also known as your seed phrase. Ledger supplies cards for the purpose of writing these down.

Be meticulous with this step. You’ll have to click through every word, then copy it down. Double-check and ensure that all the words you write down are accurate.

When you have them all written down, you’ll need to re-type them into the software to confirm you wrote down the right words in the right order.

Step 4 – Add apps

Apps Ledger S

To add apps to your hardware wallet, you’ll need to locate the Settings menu.

It’s on the left side of your Ledger Live software.

The software will ask you to allow Ledger Manager on your device.

Once you do, it will check for the latest version and perform a firmware update if needed.

Apps are basically crypto assets like Bitcoin, Ethereum, Ripple, Stellar, and other altcoins.

When an app is added, it will show up under the section labeled “Portfolio” in your Ledger Live software.

Step 5 – Send and receive cryptocurrencies

receiving crypt ledger nano s

Once your apps are installed, you can start sending and receiving your favorite cryptocurrencies.

To receive and send tokens or coins, find the “Accounts” section of the Ledger Live software.

Choose the appropriate account, then select either “Send” or “Receive.” You’ll see these options in the sidebar.

Step 6 – Confirm wallet address

Ledger Address Confirmation

The last step in the process is probably the most arduous one.

It involves confirming that you’re sending your digital coins to the right crypto wallet address.

This is tough because it requires validating the address on both the Ledger Live software and the Ledger device’s screen.

Unfortunately, the screen is so small you can’t see the entire address at one time, which requires you to click through to confirm everything is accurate.

Why your recovery phrase is important

ledger nano s recovery passphrase

Writing down your seed phrase is tedious but a very important part of keeping your cryptocurrency safe and secure.

That’s because the 24-word phrase basically is your wallet.

If the worst happens and you lose your hardware wallet – or forget the PIN code you set up – you can type in the passphrase to gain access to your digital assets.

In short, if you lose your recovery phrase, you’re up a creek.

The phrase is kept only on the wallet itself, which means your device has maximum security.

Unless someone else gets hold of your passphrase, your cryptocurrencies are about as secure as they can be.

However, that also means you need to keep your recovery phrase as secure as possible.

Some Nano S users store their phrases on a meta wallet or split them up and put it in multiple places.

While these tactics might sound extreme, if you’re storing hundreds of thousands of dollars in crypto on your hardware wallet, it makes sense to take all the necessary precautions to protect it.

Ledger Nano S Supported coins

Ledger Coin

Your Ledger Nano S supports more than 1,000 different cryptocurrencies, many of which you can directly manage right from the Ledger Live software.

Here’s a shortlist of some of the cryptocurrencies and  ERC-20 tokens supported by your Nano S hardware wallet:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Dash (DASH)
  • EOS (EOS)
  • Neo (NEO)
  • Monero (XMR)
  • Stellar (XLM)
  • Bitcoin Cash (BCH)

Keep in mind that your Ledger Nano S has a limited amount of storage, so you’re only going to be able to run a few apps at a time.

If you’re invested in a lot of different cryptocurrencies, you might consider an alternative cryptocurrency hardware wallet.

Something like the Nano X is a decent option as it has expanded memory, which lets you store more apps.

Ledger Nano S Features

In addition to supporting a wide range of cryptocurrencies, the Ledger Nano S also offers a variety of features and functionalities that you’re sure to find useful.

Let’s go over a few of them.

Full node support

Ledger Satstacks

Recently, the hardware wallet stated that it would now offer full node support through its Satstack software.

Using Satstack, users can connect a full node to their hardware wallet using the Ledger Live software.

With full node connectivity, users keep their blockchain transactions from exposure to outside sources.

Coin control

Coin Control

Coin Control is a new security feature offered by Ledger that reduces dusting attacks.

These are attacks that send a small amount of cryptocurrency to a user wallet, allowing the hacker to access the wallet’s privacy settings.

This sets up the wallet for more advanced attacks.

With Coin Control, users have the choice to configure the settings on their transactions, which creates more security and privacy.

The default on these types of transactions used to use the FIFO (first-in, first-out) method, but Coin Control allows the user to select the address they prefer for transfers and transactions.

This new process is critical as it prevents external hackers from tracking transfers through the small, dust-tiny traces of cryptocurrency.

These trace amounts are worth less than the transaction fees themselves but can be used to track the crypto holder using tiny unspent transaction outputs or UTXOs.

Connectivity

Ledger Nano S Cables

Unfortunately, the Ledger Nano S does not offer Bluetooth connectivity like its counterpart, the Nano X.

The only way to connect your hardware wallet to your computer is through the micro-USB cable that comes with the device.

However, if you want to manage your digital assets while you’re away from your desktop, Ledger does offer an Android version of its Ledger Live software.

Recovery sheets

Recovery Sheets Ledger

Ledger includes recovery sheets with every device it ships.

These sheets are for writing down your recovery phrase.

When you need to log into your wallet, this phrase is what prevents others from accessing your cryptocurrencies.

Keep your recovery sheet in a safe place, so you know where it is anytime you need it.

Wallet
Ledger Nano S

If you don’t want to mess around with software wallets, you should check out the Ledger Nano S. This affordable hardware wallet is a great way to keep your coins safe and secure. With support for nearly every coin on the market, it’s tough to go wrong with the Nano S.

To get your hands on this high-quality, affordable hardware wallet, visit the Ledger website

3.5/5
Visit Ledger Nano S

Ledger Nano S or Ledger Nano X

When it comes to Ledger’s hardware wallets, both the Nano S and the Nano X offer their fair share of advantages and disadvantages.

The right choice largely depends on your needs.

You might only need one of these high-quality cryptocurrency wallets, or you may find a need to use them both together.

Ledger Nano S

Ledger Nano S Appearance

If you plan on holding your cryptocurrency for the long-term and rarely perform transactions, a Ledger Nano S might be the best hardware wallet for you.

This cold storage wallet is ideal if you won’t need to send or receive digital currencies with your smartphone or tablet. If this is you, you could save money by purchasing the Ledger Nano S.

Arguably the biggest detraction of the Ledger Nano S is its lack of storage space. You’ll only be able to install a few applications at a time on the Nano S.

If you only plan on investing and holding a few cryptocurrencies, the device will work perfectly. But if you plan on holding more than a few digital assets, you’ll want to choose another device.

Overall, the Nano S is not ideal if you always need a way to access your funds without being physically connected to your laptop or PC.

However, if using a wired connection isn’t a big deal to you, your Ledger Nano S can link to either your laptop or Android smartphones and tablets with the OTG cable provided.

Ledger Nano X

Ledger X Apperance

On the other hand, the Ledger Nano X is considered by some as the best cryptocurrency hardware wallet available.

This device is perfect for those that want to send and receive transactions regularly.

Plus, it supports sending and receiving through both iOS and Android operating systems.

For example, if you’re away from your computer and you need to send some crypto to a friend, you can use your smartphone to do so.

This is largely due to the features and functionality available with the Ledger Nano X, which lets you send and receive digital currencies anytime you need to.

Additionally, the Nano X offers more storage space than the Nano S. Once your Nano S memory fills up, you have to delete an app to create space for additional options.

So, if you want to install myEtherwallet, but don’t have enough space, you’ll have to delete something else first.

So, if you want to manage a variety of digital currencies and want to install their corresponding applications, you’re better off using the Ledger Nano X.

With the Nano X, you can install nearly 100 applications, while the Nano S usually only has enough space for three or four at a time.

How to buy Ledger Nano S in Canada?

Canada Ledger Nano S

While there are reputable online options for purchasing a Ledger Nano S in Canada, I highly recommend against buying from retailers like eBay.ca, Amazon.ca, and others.

Why? Even though the chances are minimal, there’s still the possibility that a Ledger wallet from these online services could be defective or tampered with.

Instead, if you want to be completely secure that you are purchasing a brand new, out-of-the-box, legitimate Ledger Nano S, the best place to get your hands on this high-quality hardware device is through the official Ledger store.

Sure, you’ll pay a little more in shipping fees when buying directly through Ledger, but I would say it’s worth a few dollars extra to ensure that you’re getting a legitimate Ledger hardware wallet.

How to buy Ledger Nano S in the UK?

Uk Ledger Nano S

Again, you might be tempted to purchase a Ledger wallet from places like Curry’s PC World, Argos, eBay, or Amazon UK, but I would advise against it.

Not only could your item be tampered with, but you could also be sent the wrong inventory, which means someone else has their hands on your Ledger wallet.

If you want to be entirely sure that you’ll get the device you ordered and that it has been tampered with or opened, place your order through the Ledger website.

By doing so, you’ll significantly reduce the possibility that you’ll get a fake or used device.

How to buy Ledger Nano S in AU and NZ?

Australia and New Zealand Ledger Nano S

The same applies to Australia and New Zealand that did to Canada and the UK.

There are definitely reliable sellers in both countries, including Amazon and eBay.

However, even though the chances are slim, I recommend steering clear of these sites.

Again, through these types of sellers, you could wind up with a device that has been used or tampered with.

Or you could wind up with the wrong item entirely.

Like with the previous countries, if you want to buy a legitimate, brand new Nano S, your best bet is to buy it from ledger.com, Ledger’s official website.

Save yourself from potential headaches and hassles by purchasing a legit hardware wallet straight from the vendor.

Can I use multiple Ledgers S?

Using multiple ledgers

The short answer is yes, but I want to explain how it works. Multiple Ledger devices will work through the Ledger Live application, so you can use either multiple wallets or share a computer with several people who each own a device.

Your Ledger Nano S provides access to the cryptocurrency account associated with the corresponding 24-word seed phrase.

If you choose to set up more than one device with multiple recovery phrases, each wallet will control different accounts.

If that’s the case, remember the following:

  • The first thing you need to do is be sure the accounts are linked accurately to the first device. Then simply repeat for every one of your devices.
  • Give the accounts unique names, so you know which device is associated with which accounts.
  • Be sure to connect the appropriate device that controls the corresponding account when sending or receiving cryptocurrencies.

If you have one device set up and used your recovery phrase to recover another device, both devices will have control over the same accounts.

When that happens, both of your hardware wallets have the ability to use Ledger Live interchangeably.

With the Ledger Nano S, you can easily add accounts and sign and verify transactions with any of the devices associated with the account.

Avatar of andrejilisin
author Andrej Ilisin

A serial entrepreneur working primarily with digital assets. He's the CEO of Sharp Capital, a company that focuses on growing online businesses. Andrej is also huge crypto, chess, and CrossFit enthusiast.