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Ledger Nano S wallet review

Sam Bourgi
Sam Bourgi
Last updated:  

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

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

Details

Product Name Ledger Nano S Wallet
Wallet Type Hardware
Supported Cryptocurrencies BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA, BNB, XMR, DASH, NEO, ETC, ZEC, XTZ, WAVES, DOGE, VET & 1,000+ more
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about Ledger Nano S

Fiat & cryptocurrencies
Setting up
Security
Where to buy
How to use
Pros & cons
FAQs
Compare wallets

Supported cryptocurrencies

Supported cryptocurrencies include:
  • BTC
  • XRP
  • ETH
  • BCH
  • EOS
  • XLM
  • LTC
  • TRX
  • ADA
  • MIOTA
  • BNB
  • XMR
  • DASH
  • NEO
  • ETC
  • ZEC
  • XTZ
  • WAVES
  • DOGE
  • VET & 1,000+ 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

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
Ledger Nano X Wallet
Ledger Nano X Wallet
Hardware
BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA, BNB, XMR, DASH, NEO, ETC, ZEC, XTZ, WAVES, DOGE, VET & 1,000+ more
NEW – 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
BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA, BNB, XMR, DASH, NEO, ETC, ZEC, XTZ, WAVES, DOGE, VET & 1,000+ more
Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
Go to site
More Info
TREZOR One Wallet
TREZOR One Wallet
Hardware
BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
Go to site
More Info

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Frequently asked questions

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8 Comments

  1. 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
    • AvatarStaff
      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 understand better on what a cryptocurrency wallet is; how it works and how to choose the right wallet for you, head on to this page. Make use of our comparison table to help you decide which wallet suits you best.

      I hope this helps.

      Cheers,
      Charisse

      Reply
  2. Default Gravatar
    Wiz
    December 17, 2017

    Are there fees involved when transfer coins to wallet

    Reply
    • AvatarStaff
      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
  3. 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
    • AvatarStaff
      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
    • AvatarStaff
      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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