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Ledger Nano S Review – Store Crypto Offline

Ledger Nano S Review

This is my Ledger Nano S review of the hardware wallet.

Ledger Nano S review

  • Product: Ledger Nano S
  • Price: £54.50
  • Cheapest place to buy: Amazon.co.uk
  • My Rating: 4.5 out of 5.
  • Type of Wallet: Cold

The Ledger Nano S Review

Ledger Nano S is a Hardware wallet, a physical device that stores both the private and public keys offline, the keys enable you to receive and spend cryptocurrency. It plugs into a computer with a USB cable and only works when connected to a computer.

In the box

1 hardware wallet, 1 USB cable, 1 getting started leaflet, 3 recovery sheets, 1 key chain strap.

Features

  • Multi-Currency Support – The Ledger Nano S supports more than 1100 different digital assets.
  • Display Panel & Navigation – There is a screen and the Ledger Nano S has two buttons that allow you to control it. You can use the buttons to access the device’s menu, enter a pin code, select apps, enter recovery phrases and confirm transactions. You confirm every transaction on your hardware wallet, keeping your crypto secure.
  • Security – It has two layers of security, including ST31H320 (protection) and STM32F042 (OS) processors that store your private keys and sign transactions separately.
  • Multi-Apps Support – It lets you install 3-5 different cryptocurrency wallets depending on the size of those wallet apps.

Setup

The device only works when plugged into a computer. The Nano S is fairly simple to set up, you plug it into your computer and you then create a 4 digit pin on the display screen. After you’ve created your PIN, you then make a copy of your recovery phrase. Ledger has provided paper in the box for you to write down the 24-word recovery phrase. List the phrases on paper in the order they appear on the Nano S display screen. Once you’ve finished copying the phrase onto the paper provided by Ledger, simply press the right button to proceed to the next phase.

Ledger Nano S

 

After you’ve set up your Ledger hardware wallet and installed the Ledger Live app on your computer, you use the Ledger Live app to install the required apps for the crypto you want to store. You perform most activities and confirm transactions by physically pressing both buttons. The screen is adequate for the minimum interaction necessary, despite its small size.

It can take a long time to scroll through the alphabet to find each letter if you need to enter your 24-word recovery phrase.

 

The Ledger Nano S is only really suitable if you have a limited or small portfolio, you cannot install all your coins if you have a larger portfolio as there is only a limited memory capacity. If you were to install say Bitcoin & Ethereum, these two take up a large part of the memory. This is a limitation and if you have a larger portfolio you may want to purchase the Ledger Nano X which has a larger memory allowing you to install up to 100 different coins depending on the size of the apps.

In Conclusion

The Ledger Nano S is a small, compact device with a metal casing that fits easily in your pocket or hand. The Ledger Nano S is ideal for new or infrequent crypto investors who want to safely store their assets offline. Active traders who need mobile access to their cryptocurrency may prefer a Bluetooth-enabled Ledger Nano X.

I find the screen is a little small and the navigation method is a bit tedious but it is something your get used to. So overall I find this a great product, I purchased some for the family as well.

I hope you enjoyed this review, comment below and if you have any questions about the Ledger Nano S, leave a comment below. Please leave your own review in the comments as well.

 

Buy Direct from Ledger.com

If you are interested in Crypto please check out my other posts here.

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