Ledger Nano S Hardware Wallet Review
One of the best ways to store and secure your cryptocurrency is by using a hardware wallet. Hardware wallets are physical devices, designed specifically for protecting cryptocurrency.
Currently there are several companies offering devices including Trezor, KeepKey and Ledger. The Ledger Nano S is a very popular wallet for beginners and investors on a budget. The Ledger Nano S retails for €58, which is about $65 USD. Both the KeepKey and Trezor retail for $99.
You can purchase the device through the Ledger website or through Amazon. Although the Ledger Nano S is the cheapest of the bunch, it still packs a punch and has some awesome features.
The device ships with the following…
- Ledger Nano S
- USB cable
- Instruction Sheet
- Recovery Sheet
- Accessories – Lanyard & Key Ring
SPECIFICATIONS
Ledger Nano S
DIMENSION & WEIGHT
Size: 98mm x 18mm x 9mm
Weight: 16.2g
COMPATIBILITY
Windows (7+), Mac (10.8+), Linux or Chrome OS. Requires Google Chrome or Chromium, and one USB port to plug your Ledger Nano S.
MATERIALS
Brushed stainless steel and plastic
MICROCONTROLLERS & CONNECTOR
Connector: USB Type Micro-B.
Certification level: CC EAL5+.
Chips: ST31H320 (secure) + STM32F042.
The overall construction of the Ledger Nano S device is nice and the metal outer cover makes it feel a bit more durable. There is a small screen to view transactions and setup information. There are also two small buttons on the top of the device that allow you to sign, navigate the menu and confirm transactions.
COMPATABILITY
The Ledger Nano S comes set up to use Bitcoin and Ethereum. You can easily enable wallets for the following Alt coins…
- Bitcoin
- Ethereum
- Litecoin
- Dogecoin
- Z-Cash
- DASH
- Stratis
- Ripple
- Hello
- Bitcoin Cash
- Komodo
- Ethereum Classic
- POSW
- ARK
SECURITY
SECURE ELEMENT
Ledger Nano S is based on a dual chip architecture (ST31/STM32). The firmware integrity is guaranteed by cryptographic attestation.
PIN CODE
Ledger Nano S ensures only you can access your accounts by requiring a 4-digit PIN code each time it is plugged into your computer. (The newest firmware allows for a longer 8-digit PIN code)
MALWARE PROOF
Initialization or restoration of your configuration is fully done on the secure environment of the Ledger Nano S. Your cryptographic secrets are never exposed to the outside world. Overall the security features of the device are good, especially with the update to allow for longer PIN codes. In order to access your wallet or approve a transaction, you need physical confirmation from the device.
FIDO® CERTIFIED U2F
One of the cool features the Ledger Nano S offers is that it supports a FIDO second factor authenticator that works with several popular apps.
Ledger Nano S supports the FIDO® Universal Second Factor authentication standard on Google, Dropbox, GitHub or Dashlane.
The Ledger Nano S is a great product, especially for the price point. The overall construction is nice and designed for portability. The only downside to this device is the management of apps and wallets.
You can only view one account at a time, whereas on the KeepKey you can view and interact with all of your accounts using a single interface. This really isn’t a big deal if you are using this for long-term storage but if you frequently need access to your accounts, it can be a bit tedious. Updating the firmware also seems a bit more time intensive on the Ledger as opposed to the KeepKey.
Pros
Affordable
Nice design
Portable
Secure
FIDO® Universal Second Factor authentication
Good compatibility
Cons
You can only view and interact with one account at a time
Managing apps and updating firmware is less intuitive than competitors
The Ledger Nano S remains the best cryptocurrency hardware wallet at this price point. If you are looking for an affordable and secure option for your cryptocurrency, the Nano S offers that and more!
Ledger also sells other hardware devices, including the more expensive Ledger Blue which is priced at 229.00 € (USD prices vary). The Blue has a touchscreen, rechargeable battery and is Bluetooth capable. If you are interested in learning more about Ledger products or would like to purchase your own Ledger Nano S follow the link below:
Ledger Nano S