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Ledger Nano S Wallet Review


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Type of wallet: Cold Wallet
Purchase cost: $59
Incorporated exchange: No
The Ledger Nano S is the first generation of hardware wallets introduced by Ledger. It is also one of the first hardware wallets ever made. It followed shortly after the first generation of the Trezor. Like its successor, the Nano S is compatible with thousands of cryptocurrencies. The Nano S does not come with a USB type-C cable, so users with more modern smartphones may have trouble connecting to their devices.

The Nano S is essentially the same as its successor, the Nano X, in that it supports the same list of cryptos and has access to the Ledger Live software. The features it lacks are Bluetooth connectivity and how many wallets you can have simultaneously active on your device. With Nano X, a user can store up to 100 wallets simultaneously. With the Nano S, you can only store up to 18.

The Nano S only has enough storage to make wallets for a limited number of cryptocurrencies at a time. If you were to delete a wallet in order to add another type of cryptocurrency, you would not lose the cryptocurrency in the wallet you deleted. This is because that cryptocurrency is stored directly on the blockchain.

The deleted wallet, and crypto within it, can still be seen in Ledger Live, but the wallet will not be seen on the Ledger device itself. This means that if you would like to send or receive to the wallet you have deleted, you may have to delete another wallet to make more room.

That said, the Ledger Nano S is still a fantastic wallet for those looking to store their cryptocurrency safely for a fair price. It is also quite easy to use with Ledger Live, making it an ideal product for a beginner looking for safe and simple storage for a handful of cryptocurrencies.

Pros
Ledger Live has an intuitive and convenient user interface

Secure crypto storage for a low price compared to other options

Open-source software with the added benefit of customer and community support

Cons
Can only store up to 18 wallets at once

Unlike its successor, the Nano S has no wireless Bluetooth feature

https://www.ledger.com/

 

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