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.
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
A seed phrase is a string of semi-random words that lets you regain access to your cryptocurrency if you lose or damage your device.
You will get the phrase when setting up your device for the first time. It’s vital that you write it down somewhere and keep it safe.
Open Ledger Live and make sure you have the correct app installed
In Ledger Live, click “Receive” on the left panel or from the top of the account detail page
Use the drop-down menu to choose the account to receive the crypto assets then select “Next.”
Connect and unlock your Ledger Nano S then open the crypto asset app as prompted
Read the instructions and click “Verify” to generate a receive address on your device
Confirm that the receive address shown on your Ledger device is the same as the one shown in Ledger Live.
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:
Open Ledger Live and make sure you have the correct app installed
Click “Send” on the left panel
Use the drop-down menu to select the account you want to send from
Enter the recipient address
Enter the amount you want to send
Choose the network fees from the drop-down list. Higher fees mean faster transactions.
Click continue
Unlock and connect your Ledger Nano S and open the correct crypto app
Click continue
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 New Zealand
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 authorised resellers to ensure your device isn’t tampered with prior to delivery.
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 customisation. Although it comes in different colours, the Ledger Nano S isn’t available in customised forms.
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.
Andrew Munro was the global cryptocurrency editor at Finder, covering all aspects of cryptocurrency and the blockchain. Andrew has a Bachelor of Arts from the University of New South Wales.
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