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Ledger Nano S wallet review

Keep your cryptocurrency safe with one of the world's most popular hardware wallets.

finder.com’s rating: 4.4 / 5.0

★★★★★

  • Great for its security
  • Not so great for mobile transactions

Avatar
Sam Bourgi
Last Updated
Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.

What's in this guide?

Supported cryptocurrencies

Wallets supported cryptocurrencies include:
  • BTC
  • XRP
  • ETH
  • BCH
  • EOS
  • XLM
  • LTC
  • TRX
  • ADA
  • MIOTA & 1,330+ more

      How to set up the Ledger Nano S

      Your Ledger Nano will come with the following:
      • The Ledger Nano S device itself
      • A USB cable
      • A lanyard, key ring and key chain
      • A recovery sheet for writing down your seed phrase
      Ledger Nano S

      Steps to set up your Ledger Nano S

      1. Download the Ledger Live program.
      2. Plug your Ledger Nano S into your computer with the provided USB cable.
      3. Follow the prompts provided to configure your device.
      4. Download the relevant apps through Ledger Live to match the cryptocurrencies you will hold (e.g. the Bitcoin app if you want to use Bitcoin).

      Compatibility

      • Windows (7+)
      • Mac (10.8+)
      • Linux
      • Chrome OS (requires Google Chrome or Chromium)
      Go to Ledger's website
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      How to use the Ledger Nano S

      You can send and receive funds with your Ledger Nano S and get the additional security offered by a hardware wallet.

      How to receive funds on the Ledger Nano S

      To load your wallet:

      1. Open Ledger Live and make sure you have the correct app installed.
      2. In Ledger Live, click “receive” on the left panel or from the top of the account detail page.
      3. Use the drop-down menu to choose the account to receive the crypto assets then select “Next.”
      4. Connect and unlock your Ledger Nano S then open the crypto asset app as prompted.
      5. Read the instructions and click “verify” to generate a receive address on your device.
      6. Confirm that the receive address shown on your Ledger device is the same as the one shown in Ledger Live.
      7. Click “copy” to copy that address. This is your Ledger Nano S address.

      How to send funds with the Ledger Nano S

      To send funds from your wallet:

      1. Open Ledger Live and make sure you have the correct app installed.
      2. Click “send” on the left panel.
      3. Use the drop-down menu to select the account you want to send from.
      4. Enter the recipient address.
      5. Enter the amount you want to send.
      6. Choose the network fees from the drop-down list. Higher fees mean faster transactions.
      7. Click continue.
      8. Unlock and connect your Ledger Nano S and open the correct crypto app.
      9. Click continue.
      10. Verify all the transaction details are correct, and press the right button on the Ledger Nano S to sign off on your transaction and send it.

      Where to buy the Ledger Nano S in the US

      You can buy the Ledger Nano S directly from the Ledger website. It’s a good idea to purchase only from Ledger itself or from authorized resellers to ensure your device isn’t tampered with prior to delivery.

      How much does the Ledger Nano S cost?

      As of March 2019, it retails for $59.

      Go to Ledger's website

      How secure is the Ledger Nano S?

      • Hardware wallet. As a hardware wallet, the Ledger Nano S offers additional security compared to software wallets.
      • Offline storage. Private keys are stored offline and on a secure element within the Ledger. They never leave the device.
      • Tried and tested. The Ledger Nano S has sold over one million units and stored countless millions of dollars of crypto without any practical security vulnerabilities ever being discovered.
      • Backup restoration. The seed phrase system used by Ledger is the industry standard for hardware wallets of all kinds.
      • PIN code. A password is required to unlock the Ledger device itself.

      What else do I need to know about the Ledger Nano S?

      Ledger is based in France and has been a prominent company in cryptocurrency since its founding.

      The Ledger Nano S is its former flagship, but it’s since been superseded by the Ledger Nano X, which introduced mobile compatibility.

      But not everyone needs or wants mobile compatibility, so the Ledger Nano S is still sold and is still one of the world’s most popular hardware wallets.

      In a nutshell

      Pros

      • Highly regarded. In crypto, popularity generally equals security, and few wallets are as popular as the Ledger Nano S.
      • Wide range of coins supported. You can hold over 1,000 cryptocurrencies on the Ledger Nano S.
      • Ledger Live and apps. The Ledger Live web wallet combined with the crypto-specific apps makes the Ledger more user friendly.

      Cons

      • No mobile support. The Ledger Nano S has no mobile support. To make a transaction, you must plug it into a computer.
      • Minimal customization. Although it comes in different colors, the Ledger Nano S isn’t available in customized forms.
      Go to Ledger's website

      Compare Ledger Nano S against other cryptocurrency wallets

      Name Product Wallet Type Supported Cryptocurrencies Price (USD) Disclaimer
      Ledger Nano X Wallet
      Ledger Nano X Wallet
      Hardware wallet
      BTC, ETH, XRP, BCH, ADA, LTC, BNB, EOS, XTZ, XLM & 1,350+ more
      $119
      The Ledger Nano X comes with added Bluetooth functionality, more memory and a higher quality screen than its big brother, the Nano S.
      Go to site
      More Info
      Ledger Nano S Wallet
      Ledger Nano S Wallet
      Hardware wallet
      BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA & 1,330+ more
      $59
      Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
      Go to site
      More Info
      KeepKey Wallet
      KeepKey Wallet
      Hardware wallet
      BTC, BCH , DASH, DOGE, ETH, LTC, NMC
      $49
      Protect your digital assets from hackers with the virus- and malware-proof KeepKey hardware wallet.
      Go to site
      More Info
      Atomic Wallet
      Atomic Wallet
      Desktop wallet
      BTC, LTC, ETH, TRX, DGB, QTUM, XLM, ZEC, XRP, BCH and 150+ more
      Free download
      Store, buy and sell 130+ cryptocurrencies using Atomic Wallet's in-built atomic swap exchange.
      Go to site
      More Info
      TREZOR One Wallet
      TREZOR One Wallet
      Hardware wallet
      BTC, ETH, BCH, LTC, LINK, XLM, HT, USDC, DASH & 1280+ more
      $60
      TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
      Go to site
      More Info
      TREZOR Model T Wallet
      TREZOR Model T Wallet
      Hardware wallet
      BTC, ETH, XRP, USDT, BCH, LTC, EOS, XTZ, LINK, XLM & 1380+ more
      $190
      The next generation of hardware wallet from TREZOR, the Model T includes a host of new features including a touchscreen and improved processing.
      Go to site
      More Info
      Sugi Wallet
      Sugi Wallet
      Hardware wallet
      BTC, ETH, LTC, XRP, BCH, ERC20
      $71
      A NFC cryptocurrency wallet card with a mobile app that supports major cryptos and select ERC20 tokens.
      Go to site
      More Info
      MetaMask Wallet
      MetaMask Wallet
      Mobile wallet,Web browser wallet
      ETH
      Free download
      A popular Ethereum wallet, MetaMask provides private key protection for sending and storing Ether.
      LoafWallet
      LoafWallet
      Mobile wallet
      LTC
      Free download
      Developed by the creators of Litecoin, LoafWallet allows you to securely store Litecoin on iOS and Android.
      LiteVault Wallet
      LiteVault Wallet
      Web browser wallet
      LTC
      Free download
      Store, send and receive LTC via the open source, web-based LiteVault wallet.
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      Frequently asked questions

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      Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

      Cryptocurrency wallet ratings

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      We rate cryptocurrency hardware wallets by scoring each wallet out of 10 for 3 components: security, functionality and cost. Each component is weighted based on importance, as follows:

      • Security: 50%
      • Functionality: 40%
      • Cost: 10%

      These scores are aggregated and visualised as a total score out of 5 stars.

      Read the full methodology on how we rate cryptocurrency hardware wallets.

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      8 Comments

        Default Gravatar
        Win
        December 27, 2018

        In order to make my first cryptocurrency purchase, must I first get a wallet? Do I need both a soft and hard wallet? May I start with a hard wallet?

        Reply
          Avatarfinder Customer Care
          Charisse
          December 27, 2018

          Hi Win,

          Thanks for reaching out to Finder.

          Yes, you will need to have a wallet if you want to buy any digital currency because this is where you can securely store, send and receive your coins or tokens. You do not need to have both soft and hard wallets. You can choose to have either of the two wallet types, depending on your personal preference.

          To help you decide which wallet suits you best, you can use our table to compare cryptocurrency wallets in terms of price, storage options and other features they offer.

          I hope this helps.

          Cheers,
          Charisse

          Reply
        Default Gravatar
        Wiz
        December 17, 2017

        Are there fees involved when transfer coins to wallet

        Reply
          Avatarfinder Customer Care
          Harold
          December 19, 2017

          Hi Wiz,

          Thank you for your inquiry.

          Generally, yes, there are fees for all bitcoin transfers and determined by how busy the bitcoin network is at a given time.

          I hope this information has helped.

          Cheers,
          Harold

          Reply
        Default Gravatar
        Donal
        October 29, 2017

        I own a windows xp computer not compatible with google chrome what secure hardwallet options do I have

        Reply
          Avatarfinder Customer Care
          Harold
          October 29, 2017

          Hi Donal,

          Thank you for your inquiry.

          Generally, it is compatible with the following:
          – Operating Systems: Windows (7+), Mac (10.8+), Linux or Chrome OS. Requires Google Chrome or Chromium.
          – Runs with the following software wallets: Ledger Wallet Bitcoin, Ledger Wallet Ethereum, Ledger Wallet Ripple, Copay, Electrum, Mycelium, MyEtherWallet, GreenBits, BitGo.

          I hope this information has helped.

          Cheers,
          Harold

          Reply
          Default Gravatar
          Sia
          December 30, 2017

          Hi!
          Does the Ledger Nano S or its company impose any fee for send or receive coins to the Ledger wallet?

          Reply
          Avatarfinder Customer Care
          Rench
          December 30, 2017

          Hi Sia,

          Thanks for your inquiry.

          The Ledger Nano S is available on the Ledger Wallet website for EUR58.00 (US$70). This easily makes it the most affordable hardware wallet on the market, especially when you consider its value proposition.

          Keep in mind that the Nano S price is more than double on Amazon.com. To avoid the huge mark-up, it’s best to buy the wallet on the official Ledger website.

          Generally, yes, there are fees for all bitcoin transfers and determined by how busy the bitcoin network is at a given time.

          I hope this information has helped.

          Cheers,
          Rench

          Reply
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