Ledger Nano S Review, Experience and Where to Buy (2022)

Ledger Nano S reviews and performances

Ledger Nano S is a hardware wallet for holding the leading and most important cryptocurrencies. If you want an affordable and secure wallet, the Ledger Nano S is for you.

Ledger quickly established itself as one of the most important in the cryptocurr wallet market. In 2016, Ledger Nano S launched a hardware wallet in which you can store Bitcoin, Ethereum and a number of cryptocurrencies.

The Ledger Nano S wallet boasts a number of security measures and a relatively friendly price - it is the cheapest hardware wallet with a screen. Why is it important? You'll find out in a moment.

What is a Ledger Nano S Wallet?

If you are looking for a wallet for Bitcoin and cryptocurrencies, the Ledger Nano S hardware wallet could be quite an interesting and affordable option for you.

Unlike its predecessors, the Nano and Ledger HW.1, the Nano S has a built-in LED (OLED) screen, which puts this product in the same league with TREZOR and KeepKey. The pleasant OLED display means that you can verify transactions using the wallet itself at the touch of a button.

It is important to keep in mind that the Ledger Nano S hardware wallet connects to your computer via USB. If you order the device, you will receive this in the package:

• Ledger Nano S Wallet
• 1x USB cable
• A lanyard that allows you to carry the device around your neck
• Keychain with one ring
• Recovery sheet for writing seed

"Seed" is a list of words you can use if you ever want to access your account in case you lose your device.

Compatibility

• Operating system: Windows (7+), Mac (10.8+), Linux or Chrome OS. Requires Chrome or Chromium.
• Works with the given wallet software: Ledger Wallet Bitcoin, Ledger Wallet Ethereum, Ledger Wallet Ripple, Copay, Electrum, Mycelium, MyEtherWallet, GreenBits, BitGo.

How do I put a cryptocurrency in a Ledger Nano S wallet?

As with other wallet hardware, the Ledger Nano S wallet does not store your assets on the device itself. Instead, he tracks them on a blockchain. Ledger Nano S hardware wallet holds and monitors your private data (eg private key) needed to access and manipulate your digital works.

In other words, since you connect the Nano S to your computer, it will do all the work of signing transactions, in a secure environment.

How to send or receive payments with Ledger Nano S?

The Ledger Nano S setup process is fairly straightforward. As you follow these steps, you should have no problem sending or receiving transactions.

1. Connect the Ledger Nano S to your computer via a USB cable.
2. Choose a PIN code.
3. Back up your recovery phrase.
4. Install Ledger Apps or other wallet software to your liking.
5. Start sending and receiving payments.

How Safe is Ledger Nano S?

The Nano S offers a number of built-in security measures that should provide you with the safest possible experience.

• Offline storage - The whole point of hardware wallets is that you can use them to store cryptocurrencies offline, out of reach of hackers. The Ledger Nano S is no exception.
• Security PIN - One of the first things the Nano S will do is choose a secure PIN. This 4-digit code is required each time you send a payment. If you enter the wrong PIN, the device will be deleted.
• Backup and Restore - Even if you lose the device itself or become blocked, you can still get to your device using your recovery phrase.
• Advanced recovery phrase options - The Ledger Nano S offers the ability to choose advanced security measures. However, they are only recommended for those who know how to deal with them.

Where to buy Ledger Nano S

As mentioned earlier, you can buy the Nano S on the official website Ledger or  Alza.cz.

Pros and Cons of Ledger Nano S Review

For

• Allows to store a number of prominent cryptocurrencies.
• Built-in amount of software wallets.
• The OLED display allows double checking for each transaction.
• One of the cheapest OLED hardware wallets

Against

• Reputation is not at the level of other wallet hardware, such as TREZOR (or at least not yet).
• Czech support

Next steps

If you are looking for a hardware wallet, you have probably come across TREZOR, KeepKey and now Ledger. All represent a very high quality product, but the Ledger Nano S is the cheapest alternative, which is otherwise almost identical in features.

FAQ - Frequently Asked Questions

What if I forget my PIN code?

You have three attempts to enter the correct PIN. After three attempts, the NANO S resets to the factory settings. Your only option then is to use your 24-word recovery seed.

What if I lose my wallet?

If you lose the Nano S, you can restore all your wealth to another Ledger device, or to a compatible software wallet (such as Mycelium). In either case, you will need your 24-word recovery seed.

You might be interested in: Safe wallet

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All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.