Ledger Nano S Crypto Wallet Review: Is It Secure For Your Coins?

For investors in search of a secure storage that is safe and dependable, the Ledger Nano S offers a viable solution. The wallet combined with its live app assures maximum security and better control over your coins. A comprehensive storage feature, user-friendly design, and compatibility with desktop and smartphones are some of the main benefits the vendor assures. 

What is Ledger Nano S?

Over 107 crypto coins and more than 1000 tokens are supported by this wallet. It also supports stable coins. but does not allow fiat currency storage. So, let’s get started on our review of this crypto wallet.

Ledger Nano S summary

How does Ledger Nano S work?

Using the Nano S is simple and quick. Here are the steps you have to complete:

1. After completing your buying, download the app to your smartphone or desktop
2. Select the set up a new device feature
3. Proceed through a guided security checklist
4. The Ledger Live app can be used once you have finished the installation

For validation, you need to press both buttons on the wallet. While the small screen is sufficient for the limited use it requires, entering the recovery phrase is a bit tedious. It is suitable to work with iOS 13+. Android 7+, and Windows, Mac OS, and Linux computers. 

Features of Ledger Nano S

Some of the key characteristics of this cold wallet that the vendor focuses on are:

• The wallet and app provide better control over the crypto you hold with its security and enhanced controlling features.
• With its simple interface, the Nano S allows you to buy, exchange, and trade crypto in a few seconds.
• You can install a maximum of 3 apps based on their size. The wallet supports many crypto coins and it is possible to install or remove apps based on your storage needs.
• Each transaction you make is confirmed by the cold wallet which helps in providing good security.
• You can buy coins including bitcoins by choosing one of the various options. 

What kind of a wallet is Ledger Nano S?

This is a cold or hardware wallet with high security characteristics.

How to send cryptocurrencies using Ledger Nano S?

Here are the steps you need to follow to send cryptocurrencies:

1. Use the Ledger Live app for the transaction
2. Use the Send button present on the left side or the top part of the account page
3. From the drop-down list choose the Account to debit option
4. Type the receiver’s address. Ensure you check the info
5. Enter the value of the crypto you want to send
6. For emptying the account, you can choose the Send Max option for emptying your account
7. Select the network fees from the menu list and hit on continue
8. Check the transaction before you process it
9. The app is paired with the hardware to verify and protect the transaction while preserving your private keys

What currencies does Ledger Nano S accept?

Over 1100 crypto coins are supported by the wallet. Some of them are BTC, ETH, Ripple, USDT, DOT, BCH, etc. Users cannot store fiat currencies on this wallet.

Is Ledger Nano S wallet safe?

As a cold wallet, Nano S is certified for its security by the ANSSI, a cyber security company in France. A certified chip is inbuilt into the system to prevent advanced attacks. A custom BOLOS is present to safeguard from malicious attacks and to isolate the apps from one another. The wallet also has an authentic check authentication method.

Does Ledger Nano S charge fees?

To buy this digital transaction too, you need to pay $59. While the shipping charges are free for the US and many international locations, you will need to pay $19 additionally for the shipping. 

Customer support & reviews

Support is provided in four languages namely French, Russian, English, and Chinese. An online contact form is present for addressing customer queries and concerns. We found 755 reviews for the company with a rating of 3.5/5. The response is mixed with one user commending the service while another complains of poor customer support.

Ledger Nano S vs competitors

When equated to its in-house competitor Nano X, the security levels and support are similar. With the Nano X, you get a Bluetooth feature that allows more flexible use. Further, the X model has more storage space. When compared to the Trezor One, another hardware wallet, the Trezor mode is an open-source model, which you can use to identify vulnerabilities and safeguard against them. But the Trezor model is made of plastic, unlike the Nano S, which is made of stainless steel.