The Ledger Nano S is a market leading hardware wallet which actually comes in a little cheaper than other alternatives.
This could mean it lacks on features, or the competition is charging extra for something they don’t provide.
Here we will see if it stacks up against others and the term of the market leader is entirely justified.
Features and Benefits
The device does come with plenty of features and a highly secure chip which protects all of your data by using open source software applications for Ledger Nano S Litecoin etc., but as of yet, there is no Cardano Ledger Nano S support.
All transactions are confirmed on the small screen, and the device is immediately off-line when disconnected. There is also another layer of protection before each transaction.
One feature which is not mentioned very often is the ability of the device to receive rewarded coins from Bitcoin-miners.
Transactions can only be made by tapping either of the two buttons, and this alone makes it impossible for any hacker to divert your coins or spend them without you knowing.
- Very affordable
- Multi-currency support
- Second screen capability
Easy to use
- Can feel flimsy
- Brand still new
The Ledger Nano S supports the most types of coins which makes it easy for you to store many types compared to other hardware wallets.
The list below is by no means extensive, but it gives an indication of coin support:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ledger Nano S Bitcoin Gold (BTG)
- Ethereum (ETH)
- Ethereum ERC-20 Tokens
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Ripple (XRP)
- Dash (DASH)
- Stratis (STRAT)
- Komodo (KMD)
- Vertcoin (VTC)
- Viacoin (VIA)
- Neo (NEO)
- Stealthcoin (XST)
- Stellar (XLM)
- Hcash (HSR)
- Digibyte (DGB)
- Qtum (QTUM)
The Ledger Nano S is a flip design and folds into an outer casing which protects it from scratches, but also it hides the fact of what it is unlike the KeepKey which can be seen by almost everyone.
The case is small and lightweight and tamper-proof, so there is no way anyone could work their way inside.
On the Ledger Nano S set-up, you choose the PIN which is to protect your device from unauthorized access.
Later, you receive your 24-word seed which is used to create all of your private keys. As with all seeds, this needs to be written down and kept safe, and not on your computer.
There are two buttons used for operation, and the entire set-up procedure can take around three minutes in total. The Chrome app provides you with the following functions:
- Overall account details
- Ability to send BTC from your wallet along the blockchain
- Creating BTC addresses to receive Bitcoins
- Application settings
There have been reports of the Ledger manager not working. This can be for a couple of simple reasons such as:
- Another manager app is already open – close the other manager application
- The device is not connected correctly to the computer
- Application conflict like Electrum, Parity or Geth – close all open programs and try again
Like other hardware wallets it is advised never to buy Nano from other sites apart from the company website or from Amazon so you know it is sealed and never been tampered with.
The price is lower than both of its counterparts by around $30 and comes in at $65 compared to $99 which is quite a substantial difference considering the features are almost the same, and the security is of a very high level.
On occasions, there is a Ledger Nano S promo code, but such is the demand for this device, they might run out as devices are quickly snapped up.
Ledger Nano S Vs. KeepKey
The primary difference between KeepKey Vs. Ledger Nano S is KeepKey is constructed as a small computer whereas the Ledger uses two secure elements.
Design wise there is a world of difference where the Ledger can be folded over on itself and can easily slip into a pocket. Meanwhile, the KeepKey is shaped like a brick and would struggle to slip into a regular pocket.
The two devices are both constructed from aluminum, and both have a screen, but the KeepKey screen is much larger. The Keepkey also only uses one button whereas the Ledger uses two.
One thing they do have in common is the fact that both only work when they are plugged into a computer and have no internal power source.
Ledger Nano S Vs. TREZOR
When you compare these two, the design of the Nano S Ledger is more pleasing, and the construction is more robust being aluminum, however, is the devices were to be dropped.
The lighter weight of the TREZOR Vs. The Ledger might make it survive being dropped a couple of times.
The Ledger Nano S is also much easier to carry, and they do include a keychain in the box, so you have no worries of finding one which it will fit too.
To use the ledger, you will need the Ledger Nano S manager which comes in the form of a Chrome extension.
From here you are presented with a set-up wizard which after being completed will start Ledger wallet. The one downside to the Ledger Vs. The TREZOR is it does feel flimsy which is explained by the moving part whereas the TREZOR is one sealed unit.
The Ledger Nano S is used by many people day in day out who trust the security and the features the device brings for their cryptocurrency.
It is also easy to set-up, and you can begin using it within a few minutes of filling in the sheet they supply for all your recovery seeds.
The ledger although feeling flimsy as mentioned earlier does protect the screen from this cover so scratches will not interfere with the screen display.
With a lot of support for various coins and the excellent integration it has with MyEtherWallet you know from the start you can store many Ethereum based coins with no worry have needing to visit the website to do so.
For the price, it is a killer device, and this is all it boils down to when choosing. The top three hardware wallets are the top three for a reason.