Ledger was formed in 2014 by eight cryptocurrency, security, and entrepreneurial experts in Paris, France. The company has grown to approximately 360 workers in the years since, with offices in New York, London, and Singapore and a production site in Vierzon, France.
In 2016, it introduced the first Ledger Nano S cryptocurrency wallet. According to the firm, it has “sold over three million hardware wallets in 190 countries” and “secured an estimated 15 percent of all cryptocurrency assets worldwide.”
In 2020, Ledger launched Ledger Live, a cryptocurrency trading platform that interfaced with the Ledger Nano S and let investors to trade, exchange, and lend cryptocurrencies.
The Ledger brand is the global leader in cryptocurrency security and services, with the goal of serving as a “secure gateway to the world of digital assets.”
- Unit Size: 104mm x 58 mm ? 5mm (4.1in ? 2.3in ? 0.2in)
- Weight – 16.2g
- Microcontrollers & connector
- Connector – USB Type Micro-B
- Certification level – CC EAL5+
- Chips – ST31H320 (secure) + STM32F042
- Material- Brushed stainless steel and plastic
It supports 64-bit desktop computers (Windows 8.1+, macOS 10.14+, Linux), barring those equipped with ARM processors. Please remember that Ledger devices and the Live App do not work with Chromebooks.
Additionally, Android 7+ smartphones are compatible. Support for iOS devices is limited to consultation mode, which requires the import of accounts from the desktop version of Ledger Live. To connect the Nano S to a desktop or smartphone, an OTG cable is required.
The device does not support mining.
What Is Included in the Box?
1 hardware wallet, 1 USB cable, 1 how-to guide, 3 recovery papers, and 1 keychain strap
What is the reason to Purchase a Ledger Nano S?
Reclaim control of ones money
Combining the Ledger Nano S and the Ledger Live software provides the highest level of protection and control over digital assets. The Ledger Nano S securely stores and protects one’s coins and NFTs.
Purchase, exchange, and grow cryptocurrency
Manage and invest in cryptocurrency at any time and from any location with Ledger and its partners. Purchase, exchange, and trade cryptocurrency in a matter of seconds, the simple, safe, and smart way.
All of ones digital assets in one location
According to their size, up to three applications can be installed on the device.
Ledger Nano S supports a variety of cryptocurrencies, including Ethereum, Bitcoin, XRP, EOS, Bitcoin Cash, and Stellar. Users can safely download and remove applications on the device to optimize their capacity requirements.
Utilization is simple and effective.
Install Ledger Live and then download cryptocurrency applications and establish accounts. Each transaction is confirmed on the hardware wallet, which ensures the security of the cryptocurrency.
Despite the wide variety of crypto assets supported, the primary disadvantage of the Ledger Nano S is its insufficient internal space. It allows the user to download up to three (3) distinct bitcoin wallets (depending on the size of the wallet apps). It’s an excellent hardware wallet if people want to store different types of coins or tokens.
However, it is a great alternative for holding a full portfolio of altcoins.
There is a fix for this issue. Users can download wallet apps for storing coins on the Ledger Nano S and then uninstall them. Although this may seem contradictory, the gadget will retain the user’s private keys.
After storing coins, removing apps will help preserve space. However, this means that users would have to constantly reinstall programs to access specific wallets, which unnecessarily complicates the process. Additionally, most consumers feel uncomfortable with the idea of uninstalling their wallet apps that contain digital assets.
After reviewing the Ledger Nano S’s multifold-cryptocurrency compatibility, it’s evident that the Ledger Nano S is a suitable device for cryptocurrency newbies and investors with a small number of digital coins. However, it is not the ideal one-stop-shop for crypto aficionados with a broad portfolio.
Take note that minimal internal capacity has a number of benefits. It enhances the security of the Ledger Nano S and makes it a more affordable cold storage option for investors looking to mitigate the risk of theft by storing digital assets in numerous cold wallets and locations.
Purchase and Price
The Ledger Nano S hardware wallet is available for $79 USD on the Ledger website. Occasionally, the corporation will provide complimentary shipping to the United States and a handful of overseas places. Shipping expenses may exceed $19 unless otherwise indicated. Additionally, Ledger partners with a variety of resellers, which means users may be able to get the device cheaper elsewhere.
Shipping times vary by shop, but users should receive the device within two weeks in most situations.
The Ledger Nano S gadget and a micro USB-B connector are included in the box. Additionally, packages may include pages for recording a 24-word recovery phrase and a neck strap. Additionally, Ledger offers a three-device bundle at a discount of up to 21%.
Purchase devices directly from Ledger or from a reseller who is a Ledger authorized reseller. Never buy a pre-owned hardware wallet.
The primary reason individuals acquire a Ledger wallet is for security. The company’s security precautions go above and beyond industry requirements to protect one’s private keys on Nano devices.
Additionally, Ledger is the only producer of hardware wallets that makes use of Secure Element chips and a proprietary operating system (OS) dubbed Blockchain Open Ledger Operating System (BOLOS).
The French National Agency for Information System Security conducts independent audits of ledger devices (ANSSI). Additionally, new security measures at the user level have been implemented. For example, users must press both buttons on the device simultaneously to purchase cryptocurrency, rendering it uncrackable by a cybercriminal. Users must provide a minimum four-digit pin code and are then provided with a 24-word recovery phrase to save in a secure, off-line location.
In 2020, the Shopify database was used to access the company’s customer data. While users’ cryptocurrency wallets were not compromised, their names, addresses, and phone numbers were. Ledger has taken down over 170 phishing websites and contacts with clients on a regular basis regarding personal protection.
The key security distinction between Ledger and competitors such as Trezor is that Ledger’s firmware is proprietary, meaning that users cannot check the system’s security independently.
Configuration and Use
The Ledger Nano S is a remarkably easy-to-use device. Users must first download and install Ledger Live on their computer or mobile device, then select the option to create a new device during the installation process. The application then guides users through the process, which includes a guided security checklist.
After configuring the Ledger Live app, investors can perform the bulk of tasks and confirm transactions by physically pushing both buttons on the Ledger hardware wallet. Despite its small size, the screen is designed to need minimal interaction. However, if users are asked to enter a 24-word recovery phrase, scrolling through the alphabet to discover each letter can be tiresome.
Keep the recovery phrase in a secure, off-line location at all times.
Nano S is a user-friendly wallet designed for casual investors with a small number of currencies. Numerous cryptocurrencies, on the other hand, require software, and the Nano S can only contain a limited number of programs at once, necessitating the deletion of one in order to install another. While the cryptocurrency stays secure and on the smartphone, the storage shortage creates certain usability concerns.
User satisfaction with Ledger’s Satisfaction is consistently high. The majority of concerns center on the absence of Bluetooth and security safeguards. In summary, a minor reduction in convenience is the cost of increased security. Others voiced concerns about the device’s storage capacity. However, the Ledger website clearly states the device’s dimensions and storage capacity, and consumers desiring greater storage may select the Bluetooth-enabled Nano S.
Product Guarantee and Refund
Users must submit an online return form within 14 days of receipt if a Ledger gadget does not function properly following purchase. A claim form, a comprehensive support center, a phone number, and an email address are all available on the company’s website.
How Is The Ledger Nano S different from its competitors?
The Ledger Nano S retains the same degree of security and compatibility with the Ledger Nano S. The key difference is that the Nano X includes Bluetooth, which enables it to connect to the internet and be accessed from any location with an internet connection. Additionally, the Nano X has much larger capacity, supporting up to 100 crypto apps in comparison to the Nano S’s 20 or fewer.
The Ledger Nano S is a hardware wallet that resembles a USB flash drive in appearance. It is one of the most sophisticated Bitcoin wallets on the market. While it supports a huge number of cryptocurrencies, many of them require users to download a third-party application, which the wallet only supports a limited number of. The Ledger Nano S is an excellent choice for beginners or infrequent cryptocurrency investors wishing to safely store their funds offline. On the other hand, busy traders may choose mobile bitcoin access via a Bluetooth-enabled smartphone.
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