Ledger Nano S: The Most Recent and Reliable Wallet

Welcome to epic Nano Ledger S review exclusively provided by Crypto-Auditor.com. Here, we’re going to show you how to use a Ledger Nano S, how to verify Ledger Nano S, and other Ledger Nano S how to! So, it’s both a review and a tutorial for you!

More details about Ledger Nano S
Our Rating 4.75 Users rating: based on 53 user reviews
Display 128x32-pixel OLED display Dimensions 56.95mm x 17.4mm x 9.1mm
Weight 16.2 g Wallets number 1000+
Author & Guarantor: Anton Yurchenko
Author's Social Media:
Ledger Nano S: The Most Recent and Reliable Wallet
Our Rating 4.75 Users rating: based on 53 user reviews
Display 128x32-pixel OLED display Dimensions 56.95mm x 17.4mm x 9.1mm
Weight 16.2 g Wallets number 1000+
What people say about us
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Website https://shop.ledger.com/products/ledger-nano-s
Wallet type/Category Hardware Wallet
Platforms 64-bits desktop computer (Windows 8+, macOS 10.10+, Linux) excluding ARM Processors. Also compatible with Android 7+ smartphones
Crypto supported Binance Coin (BNB), EOS (EOS), Cardano (ADA), Monero (XMR)
Neo (NEO), Crypto.org chain (CRO), IOTA (MIOTA), Terra (LUNA), Nem (XEM), Ontology (ONT), Vechain (VET) and 100+ cryptocurrencies and 1000+ tokens
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Mining No
Color(s) Matte Black, Saffron Yellow, Flamingo Pink, Jade Green, Lagoon Blue, Transparent
Materials Brushed stainless steel and plastic
Battery No battery required
Connector USB Type Micro-B
Certification level  CC EAL5+
Display 128×32-pixel OLED display
Dimensions 56.95mm x 17.4mm x 9.1mm
Weight 16.2 g
Ledger Nano S Price $59

Ledger Nano S – Cold Wallet Review 2021

Is Ledger Nano S Safe?

Yes, Ledger Nano S is almost the safest cryptocurrency wallet you’d dream of!

What is Ledger Nano S? It’s a hardware wallet to store your crypto assets, exchange, and grow them. As soon as you buy Nano Ledger S, you’ll appreciate all of its benefits!

Ledger Nano S security is at the highest level—especially when compared to iPhone and iOs wallets or the ones with the debit cards. So, it impacts the way how Ledger Nano S works.

FIDO U2F (Two-Factor Universal Authentication)

With the Ledger Nano S hardware device, you can protect against unauthorized access with U2F universal two-factor authentication.

It can be connected to

  • Gmail
  • Dropbox
  • Facebook
  • Twitter, etc.

And the Ledger Nano S hardware device can be used to protect against unauthorized access with U2F Universal Two-Factor Authentication.

To use the device as a U2F token, download the FIDO U2F application.

How to Hide a Wallet Using a Passphrase?

Passphrase is an advanced protection of a user’s cryptocurrency assets that allows you to create hidden wallets based on a mnemonic phrase.

Also, before we let you know the answer to the question “where can I buy a Ledger Nano S?” we’d like to post a bit of theory:

  • The extra phrase creates a completely new wallet;
  • You can create an unlimited number of hidden wallets;
  • The phrase can be all ASCII characters;
  • When entering an empty phrase, the user will be taken to the original wallet;
  • If the mnemonic phrase uses the entropy of the hardware wallet, then the passphrase makes it possible to add its own entropy when creating the wallet.

What does the Nano S Ledger wallet passphrase protect against?

  • From any kind of physical attacks on the hardware device;
  • From compromising a mnemonic phrase;
  • From physical threats and pressure on the owner of cryptocurrencies.

How does the ledger nano s work? — now you partially know the essentials. We’ll show you even more right on this page!

Auto-lock

We set the time after which the hardware wallet will be blocked. To unblock you will have to re-enter the PIN-code. The options are OFF (disable auto-lock), 1, 3, 5, 10 minutes.

Holographic Seal

In early versions, a special seal was applied to the packaging, which confirmed that the device had not been used by anyone before.

Later, the need for a security seal disappeared due to the fact that the Ledger Nano S is protected from firmware modifications on the software side, and the manufacturer abandoned it.

Now, you know the answer to the question “Is the Ledger Nano S safe?”. Yes, you’re absolutely right when comparing Nano S Ledger to Trezor, which is another cold wallet.

Ledger Nano S Coins

There are 100+ Ledger Nano S supported coins! In this section, we’d love to share the Ledger Nano S support coin list!

The following cryptocurrencies are currently supported:

  • Bitcoin
  • Icon
  • Wanchain
  • Rootstock
  • FIC Network, etc.

Besides, Ledger Nano S coins list comprises:

  • IOTA
  • Factom
  • Ethergem
  • Peercoin
  • Ontology
  • Akroma.

What’s more, Ledger Nano S coins supported are also not limited to:

  • NEO
  • Hcash
  • PivX
  • Expanse
  • Dogecoin
  • Stratis
  • Bitcoin Cash, etc.

In addition, you’ll admire the most exotic Ledger Nano S currencies like:

  • PoSW
  • Cardano
  • Stealth
  • Kowala
  • Waves
  • Gamecredits.

Again, how many coins on Ledger Nano S? 100+ items available along with 1000 tokens! You may see the full Ledger Nano S coin list right in the beginning of this page.

Thus, what does Ledger Nano S support? You know everything now 👆

How to Use Ledger Nano S

“How does Ledger Nano S work?” is probably an essential question right after you receive your item.

Let’s start off from the very beginning. The device itself is presented in the form of a USB flash drive with a microUSB interface for connecting to a computer. There’s also a display and two buttons to confirm actions.

The wallet is made of high-quality plastic and metal with a corporate engraving. It is really pleasant to hold the device in your hands. The quality of performance is really impressive.

To know how to setup Ledger Nano S and when connecting for the first time, you must

  1. Set a password (it can be between 4 to 8 digits).
  2. Re-confirm the password.
  3. Record 24 control words for device recovery. (If you have a question “What if I lose my Ledger Nano S”, knowledge of these words allows you to re-create a copy of the wallet and gain access to cryptocurrencies. This is necessary to restore the device in case of loss or failure.

Opening the wallet, you get access to the settings, where you can change the brightness of the display, flip it or invert the image.

Navigation through the menu is carried out with the help of buttons, when pressed simultaneously, the action is confirmed.

After installing the Leger Live program on the PC, it will be possible to download up to 5 confirmation programs to the devices.

Hah, but first off, you have to best buy Ledger Nano S! (;

Ledger Nano S Transaction Fee

Before you buy Ledger Nano S, you surely should know the transaction fees. So, there are three types of fees:

  • High
  • Standard
  • Low.

There’s no fee for using the wallet per se—transaction fees only.

For more details, don’t hesitate to contact the Ledger Nano S support.

Ledger Nano S Software

All actions for receiving and sending cryptocurrencies are carried out in the Leger Live program, and the physical device is responsible for confirming the action, without which access to cryptocurrencies is impossible.

So, to get started, you need to download the desired wallet with the cryptocurrency to the device, and to be more precise, the verification program, then add this cryptocurrency to the Ledger Live program.

Further, entering the cryptocurrency account and clicking on “Recive”, you need to confirm the action on the physical device, then you can see the address of the wallet to which the cryptocurrency should be sent.

The address must also be confirmed by pressing the device button.

Ledger Live

Ledger Live was released in July 2018 and is a big step in the cryptocurrency wallet interface industry.

This software allows you to make the initial setup of a hardware wallet and manage crypto assets in one window. Apps like

  • Ledger Manager
  • Wallet Bitcoin
  • Wallet Ethereum, and
  • Wallet Ripple extensions are a thing of the past.

The interface is compatible with

  • Mac
  • Windows
  • Linux OS.

After installation, the software will open automatically and you can start the installation using the “Get Started” button. Four options are available in the window that appears:

  1. Creating a new device
  2. Restore device from recovery phrase
  3. Use an initialized device
  4. Buying a new Ledger Nano S

The software only displays hints and tips when activating the wallet, but installation is only done on the hardware wallet itself.

In other words, you can simply connect the wallet to your PC without installing Ledger Live and activate it.

It will first demonstrate how to create a new device. Later in the security section, the recovery of the wallet will be shown. We select the first option. The next window for all Ledger Nano S wallets will ask you to select a wallet model, and then go to the installation process.

How to Reset Ledger Nano S

When using a wallet, situations can often arise when you need to use the process of restoring cryptocurrency assets.

For example, the user wants to change the mnemonic phrase on the wallet, or he forgot the PIN code after an unsuccessful firmware update, as a result of which the device is reset to zero.

In such cases, in the Configure as new device state, press the left key and go to the Restore configuration option. Confirm the new Pin code and enter the mnemonic phrase.

Then the words are entered one by one. As a rule, when typing from 2–4 letters, the device itself suggests a list of possible words from the BIP39 dictionary.

After successfully entering the last word, the message “Your device is now ready” appears and the only Settings application is displayed in the wallet. Now it remains to download the necessary applications for managing coins.

How to Update Ledger Nano S

Now, when you know how to use the Ledger Nano S, it’s time to consider updating your device firmware.

You’ll have to accomplish just 3 easy steps to update Ledger Nano S:

  1. Verify that the Identifier in Ledger Live matches the one on your Ledger Nano S.
  2. Press both buttons to choose Perform update.
  3. Enter your PIN code to confirm. Your device will restart.

Mobile App: Ledger Nano S How to Use

According to all Ledger Nano S reviews, in the app, you can view the analytics and price dynamics of the cryptocurrency portfolio. It is a cold storage wallet, in an external digital signature to confirm actions.

Mobile wallet apps for iOS and Android are available.

It is important to understand that the password manager does not have an interface where one could sort, organize, or search for the desired password from the service. The second feature is that you cannot save your passwords.

You can only create passwords by predetermining its complexity—special characters, numbers and used upper or lower case letters. Passwords are generated based on the private keys of the wallet.

To create a password, you should offer a tag, for example, mail, Facebook, dropbox, and then the application will generate a password using the built-in randomness generator and private key.

Hence the question: how to recover the given passwords in case the wallet is lost or broken? This will require:

  • Recover the wallet using a mnemonic phrase;
  • Download a password manager;
  • Set the same tag and the device will offer the same password. When creating passwords, a deterministic function is used, just like when creating private keys.

As you can guess, we’ve already transferred some cryptocurrency there, which we collected for free on cryptocurrency faucets.

Final Thoughts

To summarize, we can say that Ledger products are rather a combination of

  • Really convenient software for storing cryptocurrency and
  • An external physical device.

With the help of Ledger Nano S wallet, all actions with your assets are confirmed. It  allows you to reliably protect them from unauthorized access and write-off.

Crypto wallet Ledger Nano S combines several necessary properties at once.

Firstly, it is a very high level of security and reliability of storing funds according to international standards (the only weak point concerns a 24-word verification phrase, if you lose it, you will lose everything).

Secondly, the wallet allows you to perform operations with a large number of popular tokens, and it is easy and convenient to do this.

Thirdly, there is support for third-party software, this will allow you to manage your cold wallet in a way that is more convenient for you.

As for the shortcomings, besides the possibility of losing the control phrase, one can only note the absence of a multi-language guide.

The Ledger Nano S has a relatively low price tag among the competition right now, and if you are considering a hardware wallet to keep your assets safe then this is a very good option.

P.S. 

By the way, the best place to buy Ledger Nano S is to follow the link from our site to visit the official website of the manufacturer.

P.P.S.

Nano Ledger S price is $59, so it’s pretty affordable!

FAQ

There are 23 currencies supported directly by Ledger and 1000+ wallets available from the third parties.

You can easily recover all of your coins/wallets in case of a loss/damage/theft of Ledger Nano S. Just back up your seed phrase (24 words).

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Our scope 4.75/5
Security 5/5
Client Support 4/5
Coins Number 5/5
Fees 5/5
Pros
  • Small size and light weight
  • High encryption security standard
  • Isolated storage of private keys in the device memory
  • Two-factor authentication available
  • Support for a large number of crypto assets

 

Cons
  • Loss of a card with a check phrase is loss of all funds
  • No multilingual manual
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