Ledger Nano Review
Apart from KeepKey and Trezor, Ledger Nano S also made a way to the market with its own brand line of physical wallets. With its own properties, functions, and features, it is only fair that we consider this hardware device as well. Hard wallets are considered as the safest way to store cryptocurrencies. If you are interested in this particular topic we recommend, Store Cryptocurrencies Safe 2018.
The review concerns with security, price and general functions of the wallet, listing what is good and bad about the product. We conclude with pros and cons, which you can use when comparing the wallet with other stashing service types.
General Information about Wallet
Producer of the Ledger Nano S wallet is located in France, while brand itself was introduced to the market in 2014, the same year when Trezor was launched. Just like Trezor, it is hard to estimate the number of active users of Ledger Nano S. It is also hard to estimate the market share per competitor, due to the lack of information.
Just like most of other hardware wallets, you can order the wallet anywhere in the world. All you have to do is to use the credit card and purchase the wallet. It would then be shipped to your home address, no matter where you live.
Apart from shipment, the wallet has other similar functions as other hardware wallets. Its setup might be a bit confusing for starters while the device itself works both online and offline. The different environment ability allows you to decentralize your keys and remain them private.
Hardware & Online Properties
When ordering Ledger Nano S, you would get a box set, containing several items that have their own uses. These items are:
- Ledger Nano S USB Wallet
- a USB cable
- neck Lanyard
- One keychain and key ring
- Recovery sheet
The dimensions of the device itself are 98mm x 18mm x 9mm while the material used for production is mostly plastic.
In the sphere of currencies supported, Ledger Nano S has a slight advantage over Trezor and KeepKey. It currently supports 27 cryptocurrencies, more than the other two HD wallets do, bitcoin, Ethereum, Litecoin, and DASH included.
Same as other HD devices, you only need one USB for all coins while fiat currencies are not supported due to the technology implemented in the device.
Platforms and Features
Ledger Nano S is compatible with desktop operating systems (Windows, Mac, and Linux) and web browsing platform (Google Chrome or Chromium only). One large minus on the platforms’ section is the lack of mobile apps for either Android or iOS users.
The wallet dashboard itself is neat and simple, providing you a clear look at your balances, reports, and functions, as shown below.
It is beginner and user-friendly, helping you make quick decisions or quick checkups when online.
Price & Fees
Ledger Nano S comes at a lower price than other two HD wallets, KeepKey and Trezor. You can get one for a price of €58 if bought from the company’s website directly. The product can also be found on Amazon for the price of $99.98, shipping included. You should be aware that the said value excludes taxes applicable to your region as well as the shipping fees coming along as well.
All hardware devices are purchased for one time and can be used for the product’s life circle and Ledger Nano S is no different in that regard.
Ledger Nano S differs very little with other hardware wallets. It acts as chipset, as you can plug it into the PC without a cable, being a wallet USB. The installation thus can be done through a computer in an offline environment, a bit different than Trezor, who works as a minicomputer.
Once installed, all keys generated are private and you would do good to write them down on a piece of paper. The functions are 12 or 24-word recovery seed, password, username, transaction password and ability to work in both online and offline environments.
The USB wallet also has a screen, which would allow you to check your balance without going online.
The support section of the company’s website offers an abundance of information on Ledger Nano S. You can adhere to many articles written, as well as with FAQ section. You may also post a thread on Technical Maintenance page and contact customer support directly should you face any issues with the product.
You could also visit different bitcoin communities, as there are many people using the USB device. Most of the people over there have faced many issues in the past and thus would have an immediate answer for your problems should you encounter them.
Ledger Nano S could be viewed as the top wallet product in the market according to the comments on Reddit and bitcointalk.org. The reasons are simple, as the device itself has proven to be very secure while the price competitive when compared to rival offers.
Cheaper price and sufficient security functions have brought very positive notes to the USB wallet.
The wallet was created by a French company called Ledger in 2014, aimed at traders who work with large volumes of coins. Bitcoin was the first cryptocurrency supported and the company works tirelessly since then to include many others along the way.
Pros and Cons
⬤ cheaper price than competitors I hardware wallet market
⬤ good reputation within the customer base
⬤ platforms are easy to use and are beginner and user-friendly
⬤ ability to operate online and offline and USP chipset
⬤ expensive when compared to “hot” wallets who are free
⬤ setup might be confusing for starters
⬤ shipping can take a long time depending on where you live
There is very little difference between Ledger Nano S and wallets like Trezor and KeepKey. All of them have superior security features than online wallets and come with somewhat high prices. The difference is that Ledger product comes at the slightly cheaper price while the functions are the same.
The chipset can be plugged into your computer and installed like that as well. We would definitely recommend this wallet if you have large volumes of coins that need efficient protection.