Ledger Nano S hardware wallet review, setup and model features


When storing digital money, the main issue remains the issue of security. No matter how reliable the cryptocurrency exchange that allows you to store Ethereum, Dasha and other coins is, no matter how cool the antivirus installed on your computer is, the possibility of losing money cannot be ruled out. Neither the trading platform nor your PC are 100 percent protected from the possibility of scams, hacking, or hacker attacks.

Understanding the risks, more and more cryptocurrency owners are choosing cold wallets to store bitcoins and altcoins. They are called examples of secure storage facilities that are almost impossible to hack. The real bestseller among such wallets is the Ledger Nano S. It attracts users with its simplicity, but at the same time impeccable reliability, multi-currency and low price. In this review, you will learn everything about the wallet to make a decision: use it or look for something else.

Multi-currency wallet Ledger Nano S: review

Ledger Nano S is a product of Ledger from France, which was founded in 2020. It was these guys who were the first to challenge the developers of the first hardware wallet from the Czech Republic. The French presented the new product in the summer of 2020. And immediately won fans. First of all, thanks to the support of Ethereum.

Features of Ledger Nano S

Today, Ledger Nano S is the most popular hardware wallet in the world. This popularity is due to many factors. This is, first of all, reliability (the wallet has never been hacked since its inception), low price and support for many cryptocurrencies.

Basic characteristics

  • Increased level of security. Reliability and full functionality in a closed environment is realized thanks to the support of two STM31/STM32 chips. The level of protection is provided by Certification level: CC EAL5+. The developers provide a 30-year warranty on data storage. Protection is also provided by FIDO U2F two-factor authentication.
  • Compact and practical. An uninitiated person can easily confuse a hardware wallet with a regular flash drive or player. The dimensions of the Ledger Nano S are even smaller than they seem in the photo: 98x18x9 mm. And it weighs only 16.2 grams. The main body is made of plastic. The outer protective part, which can be rotated, is made of brushed stainless steel. There are two buttons on the edge of the gadget. The right one is responsible for moving down and to the right, and the left one is responsible for moving up and left. Also has a built-in display.
  • Versatility. The wallet supports different cryptocurrencies, which is very convenient when using it. In addition, versatility is ensured by the fact that the wallet can be operated through devices with different operating systems: Windows, Linux, MAC OS, Chrome OS. Ledger Nano S is also compatible with other software wallets. For example, with such as Electrum, MyEtherWallet, BitGo, Copay. And with its own applications Ledger Wallet Ethereum, Ledger Wallet Bitcoin, Ledger Ripple.
  • Independence from the presence of a network connection. A wallet is a type of cold storage. Therefore, you can work with it even without the Internet.
  • Low price. Compared to competitive models, the cost of the Ledger Nano S is the lowest of all existing ones.

Frequently asked questions about Ledger crypto wallets

Now let's answer frequently asked questions.

What will happen to the Ledger Nano S?

Ledger Nano S will continue to be available alongside Ledger Nano X, expanding the line of wallets. Both models have their advantages, complementing each other and serving different types of users. You can use the Ledger Nano X to use it on the go, and, for example, the Ledger Nano S at home or in storage as a backup. As such, Ledger Nano S will continue to be fully supported in the future.

If we compare the security of the wallets of the two wallets, the Ledger Nano X has evolved in this regard thanks to the new ST33 Secure Element chip (Nano S has ST31).

Is the Nano S compatible with a mobile app?

Android users will be able to use the On-The-Go cable kit to connect their Ledger Nano S or Ledger Blue to their smartphones. This functionality will be added later as a software update to the Ledger Live mobile app. iPhone users are out of luck due to the limitations of the Lightning port on the iPhone.

How to migrate all your funds from one Ledger Nano S to Nano X?

There are two options:

  • Recover a new Ledger Nano X wallet from an existing 24-word recovery phrase;
  • Set up your Ledger Nano X as your new device and send your crypto assets using Ledger Live.

Can Ledger Nano X be connected to a computer via Bluetooth?

Bluetooth connection is only supported with smartphones. The ability to establish a connection with a PC is still in development.

Is the Ledger Nano X waterproof?

The new wallet is not waterproof. If the device gets wet, turn it off immediately and dry it before using it again.

My Ledger Nano X displays bootloader mode

Bootloader mode is activated by pressing the button located next to the USB port for 5 seconds. Wait until the device turns off automatically. Then turn on the Ledger Nano X as usual by holding down the button next to the USB port until the Ledger logo appears (about 2 seconds).

What is the battery life?

The Ledger Nano X has a 100mAh battery and has a lifespan of 5 years. Let us remind you that it cannot be replaced.

Can Ledger Nano X be updated using the mobile app?

Yes, the Ledger Live mobile app has a functional device manager. Installation of applications can be done on your phone. The firmware update feature is not yet available.

What safety certificate does the new model have?

Like the younger model, the protected element has a CC EAL5+ rating.

You can buy the new hardware wallet Ledger Nano X and Ledger Nano S from the official reseller in Russia – Cryptonist.ru.

Ledger package

By purchasing a wallet, you will receive not only a small gadget, but a whole box containing:

  • The device itself;
  • USB cable required to connect the device to the computer;
  • Branded keychain with a strap (so that you always have your wallet with you);
  • Instructions for setup and use;
  • A sheet for writing down the seed phrase that will be needed for recovery.

Ledger Nano S: what currencies does it support?

Multicurrency is one of the positive characteristics of this storage. Ledger Nano S has the widest list of supported cryptocurrencies. Here you can store:

  • BITCOIN;
  • ETHEREUM;
  • LITECOIN;
  • FIDO U2F;
  • DOGECOIN;
  • ZCASH;
  • DASH;
  • STRATIS;
  • RIPPLE;
  • HELLO;
  • BITCOIN CASH;
  • KOMODO;
  • ETHEREUM CLASSIC;
  • POSW;
  • ARK;
  • EXPANSE;
  • UBIQ;
  • PIVX;
  • VERTCOIN;
  • VIACOIN;
  • NEO;
  • STEALTHCOIN;
  • BITCOIN GOLD;
  • STELLAR;
  • HCASH;
  • DIGIBYTE;
  • QTUM.

And this list is constantly expanding. The developer continually adds new types of digital money to it. You can view the full list of supported coins on the official website of the wallet.

Getting started with the Ledger Live app

Go to the official Ledger website and download the installation file or use the link.

Click the “Download now” button. The application will begin downloading to your computer.

There are versions for different operating systems macOS, Windows, Linux and Source. The version suitable for your computer will automatically start downloading.

If you want to download a version for another platform, click Download for another platform

Once the installation file is downloaded, install it on your computer.

Find the installed application on your computer and log into it.

This will open the Ledger Live application interface.

Click “Get started”.

From the list that appears, select what you want to do. Options:

1. Setting up a new wallet – Initialize a new Ledger device 2. Restoring the wallet – restore a Ledger device 3. Using a configured wallet – use a device that's already initialized 4. Don't have a wallet yet – do not have a Ledger device yet

Let's consider the first option - setting up a new wallet.

Ledger Wallet Nano S Apps

The wallet has 4 applications that are available for installation on personal computers. And one that can be installed on smartphones - Ledger Authenticator for Android and iOS.

Ledger Authenticator

This is a mobile application suitable for both iOS and Android. It can be downloaded from official stores.

The application allows you to control your money, make transfers, manage your account, and view transaction history. Once the extension is synced with your phone, you will receive notifications to confirm each transaction. This is another step in protecting your funds.

The software allows you to access wallets with the following currencies:

  • Bitcoin/Bitcoin Cash;
  • Litecoin;
  • Dogecoin;
  • Dash;
  • Zcash;
  • PoSW;
  • PivX;
  • Viacoin;
  • Stratis;
  • Vertcoin.

Ledger Nano S setup: guide to working with the wallet

After studying all the characteristics of this device, it’s time to talk about its settings and how it works. In general, the first connection process is very simple and does not take much time.

Step 1. Connect the device to your computer using the USB cable included. A welcome message will appear on the device screen.

After this, another phrase “Press Both buttons to begin” will appear, requiring you to hold down two buttons to start working. Do so.

The device will ask if it needs to be set up as new. Press the right button to agree.

Step 2. Come up with a PIN code and install it on your wallet.

When coming up with a combination, do not limit yourself to the standard “1, 2, 3, 4, 5”. After all, a PIN code is the first stage of protecting a gadget from unwanted intrusion. If you lose it and an attacker is able to enter your code, then you risk losing all your savings.

Remember the password you created (it’s better to write it down and hide it securely), because after three unsuccessful attempts the system will automatically reset the gadget’s settings to factory settings.

The PIN code is entered directly on the device. To increase the number, press the right button; to decrease it, press the left button. To confirm, press two buttons at the same time. By the way, the password can consist of 4-8 digits.

Step 3 (the most important). Write down the seed phrase. It will appear directly on the device screen.

After this inscription, hold down two buttons. Words will begin to appear on the screen. Write them down in the exact order in which they will appear. Use the sheet that comes with your device. We also recommend taking photographs of each word to be on the safe side. If you lose this phrase, you will forever lose access to your wallet. This means you will lose all your savings.

After all the words from the phrase are shown on the screen and recorded, the system carries out a check. The device requests individual words from the seed in random order. Be careful: if the wallet suggests the wrong word, scroll through it (press one button); if such a word is in the phrase, press two buttons on the device.

Step 4: Download the Ledger Manager app.

You will need it to fully use Ledger Nano S. This is an extension for the Google Chrome browser that allows you to simultaneously work with five cryptocurrency wallets.

The official website has three more applications for convenient work with a hardware wallet - Ledger Wallet Ripple, Ledger Wallet Ethereum, Ledger Wallet Bitcoin. Don't be alarmed that there is no extension for other cryptocurrencies. To conduct transactions with Zcash or DASH, for example, you can use Ledger Wallet Bitcoin, which supports dozens of altcoins.

Power Ledger: cryptocurrency to ruble rates

Current cryptocurrency rates to quantum resistant ledger – follow fluctuations online. Information comes from the largest exchanges and is processed in real time. You can see exchange rate changes for most of the most popular fiat currencies. Online charts, automatic converter and news will allow you to quickly navigate the current market trends in the relationship between quantum resistant ledger and cryptocurrencies.

It is always worth remembering that the cryptocurrency exchange rate is quite volatile. It can either grow by several percent in a couple of minutes or fall. This volatility attracts most investors, who constantly monitor the price of cryptocurrency in order to buy at the lowest price, and then wait for growth to sell at the highest. You can buy cryptocurrency quickly and at a favorable rate in the Matbi online exchanger. The service has been operating for more than five years and can offer users not only the exchange of cryptocurrencies, but also their reliable storage. Matbi's built-in crypto wallet supports four leading cryptocurrencies: Bitcoin, Litecoin, Dash and Zcash. A high level of protection for users’ crypto assets is provided by “cold” wallets, as well as three-factor authentication when entering your personal account (PIN code, email code and SMS code, which can be replaced with Google Authenticator). The service is also interesting to users, as it includes a multi-level affiliate program. 24-hour technical support promptly answers all user questions. How to become the owner of cryptocurrency in Matbi is discussed in detail in this video.

Estimate!

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NXTNxt0.99448+0.9944809.08.20 21:20
L.A.LATOKEN2.549+2.54908.08.20 12:30
DGDDigixDAO5696.38+5696.3807.08.20 06:10
ECAElectra0.03234+0.0323407.08.20 18:10

Wallet Security

A Ledger wallet has never been hacked. This speaks of its impeccable reliability. Thanks can be said to the two STM31/STM32 chips and the CC EAL5+ encryption protocol. Special thanks to the thoughtful authentication system and the especially complex seed phrase.

In addition, the wallet works without an Internet connection; all manipulations are carried out within the device itself. This means that not a single particle of data will leak onto the network and hackers will not be able to infect the device with viruses and steal funds.

Recovery process

We can talk about the importance of the seed phrase forever. Let's talk more about the recovery process using seed.

You can recover a lost or stolen Ledger Nano S using a new device or using another hardware wallet like Mycelium or Electrum. In both cases, you need a private seed key. You can’t do without this!

If you are using a hardware wallet for this, say, Electrum, during the installation stage, enter the 24 words you wrote down:

If you purchased a new Ledger Nano S, then when connecting for the first time, press the right button and the left button. Then enter your PIN code. It may be different from the one on the first device. After entering the code, the recovery process will begin.

Step 1. Select the number of words in the phrase (24).

Step 2. Start typing the words themselves.

Use the buttons by letter. Yes, it’s difficult and time consuming, but there is no other way. To confirm the selected letter, hold down two buttons at the same time. Ledger helps at this stage: after entering two or three letters, he allows you to select the entire word.

The essence of the Power Ledger project

Australia is one of those countries where people are actively switching to more affordable and safe sources of electricity. After installing solar panels in their homes, they are completely disconnected from the general energy consumption system. This inevitably entails an increase in the cost of electricity for the remaining consumers, since energy corporations do not want to reduce their income levels. The process of transition to alternative energy sources, which is accelerated by the constant rise in energy prices, is irreversible, and sooner or later it will cause the collapse of the current system.

The Power Ledger team is not going to compete with government agencies and energy giants. The goal of the project is much more modest - to ensure the simplest possible trade in inexpensive electricity.

Many people who have installed solar panels in their homes do not use their power at one hundred percent. POWR offers to sell surpluses to neighbors through its platform using smart contracts.

The PL system is based on the Ethereum blockchain, which is ideally suited for such trading. If a family cannot afford to install solar panels, their best option is to buy excess electricity from their neighbors. Companies, including government ones, can take part in the process, which will significantly expand the scope of POWR.

Potential users of POWR include not only households, but also owners of electric vehicles

Buy Leger: how and where?

To get an original wallet and count on all its characteristics (especially security and reliability), buy the device exclusively on the company’s official website. Moreover, it can be delivered to anywhere on the planet. How to order? Quite simple, especially since the site has a Russian version.

Cost without tax - 79 euros. Add the item to your cart and follow the instructions. The parcel will arrive to you in a couple of weeks, it all depends on the chosen delivery method. How to check the authenticity of a Ledger Nano S package? Pay attention to the box and the branded sticker on it. The main thing is that its integrity is not compromised.

The wallet can also be bought in Moscow. The devices are offered by many trading platforms. But there is a risk of purchasing a fake. Externally, such a device is no different from the original. But it can be infected with viruses. Well, there can be no talk of any security.

Alternative wallet options from Ledger: comparison

The pioneer in the cryptocurrency hardware wallet market was a device from Trezor, which today is Ledger’s main competitor. They are basically similar to each other: compact, reliable. There are differences in the number of supported cryptocurrencies and prices. Ledger has advantages: the list of currencies is wider and the price is slightly lower.

Comparing Ledger’s device with Case’s Bitcoin wallet is, at a minimum, unethical. In terms of reliability, they are, of course, not inferior to each other. The only difference is the supported currencies.

Another alternative to using the Ledger Nano S is Ledger Blue. This is a new development of the French, on which they spent more than two years. This is a new word in the field of hardware wallets: an even more convenient, even more secure device. True, it costs much more - about 200 euros.

Specifications

Display

The Ledger Nano X has twice as many pixels as the Nano S: 128x64 versus 128x32. The larger display makes it easy to check transaction details and receiving addresses. This also increases the overall ease of use of the device.

Minimum computer requirements

To use the new hardware wallet, you need an active USB port and minimum OS requirements: Windows 8 and 64-bit system, MacOS from 10.8 or 64-bit Linux.

Note. When connecting a hardware wallet, avoid USB hubs and extension cables. For stable operation, the manufacturer recommends using only the original cable.

Is Ledger Nano X compatible with Ledger Live desktop?

Yes, just connect your Ledger Nano X using the included USB cable. Bluetooth desktop compatibility isn't available yet, but it works.

Use temperature

Ledger Nano X operates from 0 to 40 degrees.

Bluetooth version of Ledger Nano X

Bluetooth Low Energy 5.0.

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