Ledger Nano S wallet review 2021 | Features & fees | Finder

Ledger Nano S wallet – 2021 review

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Keep your cryptocurrency safe with one of the world's most popular hardware wallets.

finder.com.au's rating: 4.4 / 5.0

★★★★★

  • Great for its security
  • Not so great for mobile transactions

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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

      Steps to set up your Ledger Nano S

      1. Download the Ledger Live program
      2. Plug your Ledger Nano S into your computer with the provided USB cable
      3. Follow the prompts provided to configure your device
      4. Download the relevant apps through Ledger Live to match the cryptocurrencies you will hold (e.g. the bitcoin app if you want to use bitcoin).

      Compatibility

      • Windows (7+)
      • Mac (10.8+)
      • Linux
      • Chrome OS (requires Google Chrome or Chromium)
      Go to Ledger's website
      Back to top

      How to use the Ledger Nano S

      You can send and receive funds with your Ledger Nano S and get the additional security offered by a hardware wallet.

      How to receive funds on the Ledger Nano S

      To load your wallet:

      1. Open Ledger Live and make sure you have the correct app installed
      2. In Ledger Live, click "receive" on the left panel or from the top of the account detail page
      3. Use the drop-down menu to choose the account to receive the crypto assets then select "Next."
      4. Connect and unlock your Ledger Nano S then open the crypto asset app as prompted
      5. Read the instructions and click "verify" to generate a receive address on your device
      6. Confirm that the receive address shown on your Ledger device is the same as the one shown in Ledger Live.
      7. 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:

      1. Open Ledger Live and make sure you have the correct app installed
      2. Click "send" on the left panel
      3. Use the drop-down menu to select the account you want to send from
      4. Enter the recipient address
      5. Enter the amount you want to send
      6. Choose the network fees from the drop-down list. Higher fees mean faster transactions.
      7. Click continue
      8. Unlock and connect your Ledger Nano S and open the correct crypto app
      9. Click continue
      10. 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 Australia

      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.

      How much does the Ledger Nano S cost?

      AUD$109

      Go to Ledger's website

      How secure is the Ledger Nano S?

      • 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.

      2020 Data Breach

      In July 2020 Ledger's customer database was hacked, with the information being leaked online in December of that year. The breach revealed approximately 1 million user email addresses and additional information such as name, address and phone number of 272,000 users. Since then, those affected by the breach have been the subjects of ongoing targetted phishing campaigns, attempting to lure users into giving away sensitive information. While new users of Ledger should not be affected by the breach, you can stay up to date with it here.

      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.
      Go to Ledger's website

      Compare Ledger Nano S against other cryptocurrency wallets

      Name Product Wallet Type Supported Cryptocurrencies Price (USD) Disclaimer
      Ledger Nano X Wallet
      Hardware
      BTC, ETH, XRP, BCH, ADA, LTC, BNB, EOS, XTZ, XLM & 1,350+ more
      $119
      The Ledger Nano X comes with added Bluetooth functionality, more memory and a higher quality screen than its big brother, the Nano S.
      Ledger Nano S Wallet
      Hardware
      BTC, XRP, ETH, BCH, EOS, XLM, LTC, TRX, ADA, MIOTA & 1,330+ more
      $59
      Securely store some of the world's leading cryptocurrencies on the Ledger Nano S hardware wallet.
      KeepKey Wallet
      Hardware
      BTC, BCH , DASH, DOGE, ETH, LTC, NMC
      $49
      Protect your digital assets from hackers with the virus- and malware-proof KeepKey hardware wallet.
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      Frequently asked questions

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      We rate cryptocurrency hardware wallets by scoring each wallet out of 10 for 3 components: security, functionality and cost. Each component is weighted based on importance, as follows:

      • Security: 50%
      • Functionality: 40%
      • Cost: 10%

      These scores are aggregated and visualised as a total score out of 5 stars.

      Read the full methodology on how we rate cryptocurrency hardware wallets.

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      8 Comments

        Default Gravatar
        Andy
        September 26, 2018

        Hi, can you store mining rewards on your system ?? Thanks !!

          Avatarfinder Customer Care
          Joshua
          September 30, 2018

          Hi Andy,

          Thanks for getting in touch with finder. I hope all is well with you. :)

          If by “mining rewards on your system” you mean receive payouts from a mining pool or use Ledger Nano S address as a mining wallet, the answer is yes. However, if you mean if you can use the Ledger as a mining node, the answer is no.

          Please note that we don’t represent Ledger Nano S wall or ny company we feature on our site.

          I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

          Have a wonderful day!

          Cheers,
          Joshua

        Default Gravatar
        John
        February 18, 2018

        Hi can I store and track through blockchain all the worlds present and future crypto currencies on the Ledger Nano S Wallet plus am I also able to carry out trading from Australia to all destination’s around the world?

          Avatarfinder Customer Care
          Jonathan
          March 7, 2018

          Hi John, thanks for your inquiry.

          From the information that the Ledger Nano S Wallet has released, the following currencies can be stored:
          Bitcoin
          Ethereum
          Litecoin
          Fido U2F
          Dogecoin
          ZCash
          Dash
          Stratis
          Ripple
          Hello
          Bitcoin Cash
          Komodo
          Ethereum Classic

          Do you know of a method of how all cryptocurrencies can be stored in a wallet? Would love to find out more about this.

          Best,

          Jonathan

        Default Gravatar
        Raelene
        December 17, 2017

        As a xmas present my sister has purchased various crypto currencies for me from an exchange – coinspot. Will it be simple for her to send these currencies to the Ledger Wallet and if so how would she do this please. Thank you

          Default Gravatar
          Arnold
          December 22, 2017

          Hi Raelene,

          Thanks for your inquiry

          The Ledger Nano S doesn’t store any of your digital currencies on the device itself. Rather, it tracks them on the blockchain, which serves as a digital ledger to record transactions. The Nano S holds and protects the private data (eg, private keys) needed to access and manage your digital currencies. In other words, once you connect the Nano S to your computer, it will do all the work, signing transactions inside its secure environment.

          To start sending and receiving payments, you’ll need to install the Ledger Apps or integrate with the software wallet of your choosing; in your case, coinspot. Your sister will need to log on to her coinspot account and follow the instructions given on coinspot’s website to send the coins.

          Hope this information helps

          Cheers,
          Arnold

        Default Gravatar
        henry
        October 3, 2017

        Can you store euro on the ledger?

          Default Gravatar
          Gru
          October 4, 2017

          Hello Henry,

          Thank you for your query.

          Yes, you can store Euro on the Ledger Nano S Wallet.

          In your Ledger Wallet Chrome application, you can set several options to customize your application in the “SETTINGS” tab: how to change the language, the currency countervalue, the blockchain explorer, etc.

          Hope this helped.

          Cheers,
          Gru

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