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Ledger Nano S Review

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Disclaimer: this short article consists of affiliate one-way links. When you make a invest in by way of one particular of our one-way links, we may possibly obtain commissions.

In this publish we are heading to protect:

  • Variations in between Ledger Nano S and Ledger Nano X
  • What Legder Nano S box incorporates
  • How to established up multi-signature
  • Legder-Stay Software program

In addition much more… Read through on to understand anything you will need to know about Ledger Nano S.

Curious about the Ledger Nano S?

Wanting to know if its all its cracked up to be?

Does it in fact retain your cash risk-free?

The Ledger Nano S is probably the most commonly owned and properly-identified components wallet on the sector. There is a very good rationale for that.

Ledger has performed a whole lot of internet marketing all over their “secure element” and has elevated much more VC revenue than any of their opponents have.

In this Nano S assessment, we set the unit to the best examination to see if the internet marketing fulfills fact.


  • One particular of the most reliable components wallets

  • Person welcoming

  • System need to be linked for all functions

  • Multi-signature Guidance

  • System situations out immediately after a time period of inactivity

  • Passphrase guidance

  • Ongoing growth from Ledger


  • Minimal resolution display screen

  • Minimal application potential

  • Shut Resource



  • One particular of the most reliable components wallets

  • Minimal resolution display screen

  • Person welcoming

  • Minimal application potential

  • System need to be linked for all functions

  • Shut Resource

  • Multi-signature Guidance

  • System situations out immediately after a time period of inactivity

  • Passphrase guidance

  • Ongoing growth from Ledger

Who Must Obtain a Ledger Nano S?

  • Crypto buyers who want a wallet to use with their multisig
  • Crypto buyers who only very own a handful of cash
  • Crypto buyers who want an low-cost wallet

Why Do I Have to have a Components Wallet?

Bitcoin cryptocurrency digital wallet

Components wallets allow for you to keep cash in what is named ‘cold storage’.

Chilly storage is the approach by which non-public keys or other details is held absent from any make contact with with the web, the place protection is conveniently compromised.

Solutions of chilly storing Bitcoin and other cryptocurrencies (these kinds of as paper wallets) have advanced around time.

Information: Components wallets are one particular of the most recent iterations and frequently deemed to be a very good approach for all end users.

They are conveniently obtainable and are a very good harmony of protection and performance.

Fundamental principles of Ledger Nano S

The Ledger Nano S was to start with released in 2016 and is a multi-forex components units.

Screenshot of ledger.com

Ledger nano S Capability

It supports around one,one hundred fifty cryptocurrencies. It is created to harness the protection, versatility and straightforward backup of the Hierarchical Deterministic(High definition) Wallet framework.

The Nano S offers chilly storage by generating and storing your wallet’s non-public keys offline. It can also be built-in with 3rd-get together wallets to control ERC-twenty tokens.

Information:The price tag of the Ledger Nano S has dropped by about 50 percent given that it was to start with introduced and at present retails for $fifty nine USD creating it the most economical components wallet obtainable.

The Ledger Nano X has given that been released as a successor and retains a greater placement in the Ledger item line by presenting much more capabilities (much more on the X under).

Ledger’s History

Introduced in 2014, Ledger is a worldwide business specializing in protected blockchain programs and units. The business offers gross sales of one.five million wallets in one hundred sixty five international locations to day.

Ledger has shown a higher diploma of engagement with the group at huge by delivering considerable guidance and addressing precise troubles and hazards. Substantial-good quality details has been forthcoming in regard to their firmware updates. We have even penned about some of the much more prevalent firmware update troubles below and below.

Selling price

Of all the major a few components wallet corporations (Trezor, Ledger, and Keepkey), Ledger delivers the most well known and low-cost components wallet on the sector at only $fifty nine.

This consists of cost-free delivery to most international locations as properly.

See how the Nano S stacks up versus other competing components wallets

How Is It Unique Than the Nano X?

nano x pairing with phone

The Ledger Nano X is incredibly identical to the Nano S other than for a handful of minimal variations.

  • Ledger Nano X supports bluetooth connectivity
  • Nano X tricky push can maintain up to one hundred applications
  • Nano X chassis is a sturdier develop good quality

As you can see, the Nano X offers a a lot much larger tricky push than the small five application storage potential on the Nano S.

It is also a lot much better and heavier, and makes it possible for bluetooth connectivity.

Ledger Nano X

Ledger Nano X

Selling price



Up to one hundred applications

Ledger Stay

desktop | cellular (Android &amp iOS)



Display screen

128 x sixty four pixels


USB Style-C


eight hrs in standby manner


72×18.6×11.seventy five mm



Ledger Nano S

Ledger Nano S

Selling price

$fifty nine


three to twenty applications

Ledger Stay

desktop | cellular (Android only)


Display screen

128 x 32 pixels


USB Style Micro-B



fifty seven x seventeen.four x nine.one mm



This indicates that you can ship and obtain transactions though out and about by pairing the Nano X to your Cellular cell phone and controlling the unit by way of the Ledger Stay cellular application.

Nonetheless, some check out the bluetooth abilities as an included vulnerability, as bluetooth is witnessed much more and much more as a protection loophole than an edge.

Screenshot of ledger.com
Ledger.com – Components Wallets Comparison

It is up to you to determine if the included benefit of bluetooth is worthy of the trade off of most likely considerably less protection, although Ledger promises this is not a tradeoff at all.

Unboxing and Presentation

With the higher diploma of chance existing in controlling electronic property, owing diligence of a components wallet commences with opening the deal.

As of 2019, the Ledger Nano S branding is plainly noticeable on the exterior of the box and is shrink-wrapped in plastic.

nano s packaging
nano s packaging 2

Beforehand, the higher and decreased sections of the box ended up sealed with a tamper-evidence sticker. This is no more time the circumstance.

As a substitute there is now a reassuring card within which suggests why.

Irrespective, never ever obtain any components wallet unit from any one other than the maker or an formal reseller.

nano s notice

The box incorporates:

  • Ledger Nano S
  • USB Cable
  • Lanyard
  • Keychain
  • Backup and Information Playing cards

The box is properly produced and worthy of preserving for straightforward storage.

nano s in package
nano s package contents

In addition to the clarification about the protection seal, a few playing cards for your seed phrase backup are presented alongside with guidance to keep on on to Ledger’s web site to get started set up.

nano s package documentation

System Description

The Nano S capabilities two components buttons applied to navigate the straightforward on display screen person interface and verify or terminate transaction signing.

Navigating Ledger Dashboard
Navigating Ledger Nano S Software Dashboard

The chassis is a textured black plastic complete that feels reasonably strong, although i would not advise sitting down on it or exposing it to higher warmth.

Ledger Nano S


The protection capabilities of the Ledger are exclusive in the market.

CC EAL5+ Safe Factor

The Ledger relatives of components wallets are the only totally-qualified components wallets on the sector qualified by ANSSI, the French cybersecurity company.

Equally the Nano S and Nano X element what is identified as a ‘secure element’.

inside nano s

Specially, the protected chip applied is a ST31H320 with a CC EAL5+ certification. It is the black medium sized chip in the best remaining of the unit previously mentioned.

In accordance to Ledger:

Ledger Wallet Logo

A Safe Factor is a protected chip that…embeds intrinsic countermeasures versus a lot of identified assaults. This variety of chip is tamper-resistant and safeguards your unit to a assortment of unique assaults.


The protected chip is what differentiates the Ledger from other components wallets on the sector in conditions of critical storage.

PIN Code

When you to start with initialize your Ledger, you will be prompted to established up a four to eight digit PIN code.

Tips: Don’t forget that you you are liable for generating a robust PIN. Use all eight people!

This PIN is what allows you open up the unit and use it identical to your financial institution account PIN. It is incredibly crucial, but also be informed that it is not wanted to restore a wallet from the seed words and phrases.

nano s pin code

It is just a straightforward password to make absolutely sure that if you eliminate your unit, your cash just cannot be conveniently stolen.

Information: If an individual makes an attempt to enter a PIN much more than four situations, the Nano S erases alone and the thief is remaining with almost nothing.

This stops attackers from striving to brute pressure your PIN and achieve obtain to your cash.

Backup by way of BIP39 Restoration Seeds

The Ledger Nano S makes it possible for you to backup your components wallet making use of a conventional identified as BIP39, in brief, your non-public critical is transformed into an conveniently readable sequence of 24 words and phrases.

If you at any time eliminate your wallet or it receives ruined or stolen (or you forget about your PIN), you will enter this sequence of words and phrases into a further wallet (components or softeware) and get your cash again.

Ledger offers a pair of parts of paper to generate down this sequence of words and phrases throughout unit set up.

nano s recovery sheet

Nonetheless, backing up your Ledger in this way is not incredibly risk-free. If the spot of this piece of paper at any time acquired flooded or caught on fireplace, you’d be out of luck.

This is why a lot of men and women select to use a unit named a Billfodl to keep this sequence of words and phrases on parts of stainless metal, impervious to fireplace and flood.

billfodl seed here

One particular Billfodl buyer experienced around $one,000,000 of Bitcoin backed up on a notebook in a fireproof risk-free, but when his garage flooded with six ft of rain, the risk-free turned h2o-logged, and he misplaced anything.

Never permit this take place to you!
Preserve your backup risk-free with some thing sturdier than paper.

Passphrase Guidance

Ledger Nano S now supports passphrase (aka twenty fifth phrase safety).

Information:This protection evaluate makes it possible for the person to increase an extra phrase to their 24 phrase restoration phrase.

Why would you do this? There are a pair of explanations:

one. You want to increase additional protection to your restoration phrase in circumstance an individual finds your 24 words and phrases.

Warning: Don’t forget – any one with your 24 words and phrases can recuperate your cash and just take them. Introducing a further phrase of your deciding upon indicates they will will need to know the phrase you selected as properly as the 24 words and phrases.

two. You want to develop a “dummy account” in your unit that retains a compact volume of cash. This safeguards you from what is named a “$5 Wrench Attack”.

How a $five wrench assault performs

$5 wrench attack comic

If you are at any time the target of these kinds of an assault and you have a passphrase established up, you have plausible deniability about your much larger account of cash.

You only inform the muggers about your compact account and hope they depart with incredibly handful of of your cash.

We have established a movie about how to established up passphrase on a Ledger Nano S, posted under:

Multi-signature Guidance

Some highly developed crypto buyers use much more than one particular components wallet to indicator transactions.

This safeguards the trader for the reason that it indicates that even if an individual gains obtain to one particular of your components wallets (or finds a vulneribility in its software program), they even now will need an extra components wallet to obtain your cash.


Ledger Nano S can be applied as one particular of these units, which can make it much more desirable than components wallets that just cannot be applied in a multi-signature design chilly storage.

One particular straightforward way to established up multisig making use of a Ledger Nano S is to pair it with Blockstream Environmentally friendly.

blockstream green hardware wallet

Root of Believe in

Ledger no more time ships with tamper-resistant tape to protect against attackers from opening the box and manipulating the unit ahead of you obtain it. As a substitute, Ledger delivers a software program answer for any person to identify if

  1. The unit is a legitimate Ledger unit.
  2. The unit has not be tampered with.

It achieves this by way of it is “Root of Trust” applications.

root of trust

Below is how it performs: When you operate the device on the ddeveice, Ledger’s servers ship the unit a information. The unit can only answer if it has a precise non-public critical on the unit.

ledger attestation

If the unit are not able to answer, then it indicates the unit possibly is not legitimate or has been compromised and you should not use it.

Warning: This device is only helpful if you use it Right before transferring any resources to the unit. If you ship resources to the unit and it is comromised, it would not make any difference if you use the device given that you resources will probably be absent by the time you uncover out.

Acknowledged Hacks at Ledger

E mail Leaks

On July 29, 2020, Ledger produced it identified that their ecommerce databases experienced been hacked. This intended that own buyer details experienced been taken. Ledger points out the extent of the hack:

Ledger CEO

An unauthorized 3rd get together who accessed our e-commerce and internet marketing databases – applied to ship buy confirmations and marketing e-mails – consisting typically of e-mail addresses, but with a subset together with also make contact with and buy specifics these kinds of as to start with and final identify, postal deal with, e-mail deal with and cell phone selection.

Pascal Gauthier

Ledger CEO

To be apparent, no person resources ended up at any time stolen. Only non-crypto relevant details about consumers of Ledger was leaked.

Ledger Application Isolation Bypass

A protection researcher by the identify of Monokh disclosed a bug relating to the way Ledger handles transaction signing within just applications for Bitcoin and its spinoff coins’ applications. He writes:

monokh favicon

The ledger unit exposes bitcoin (mainnet) general public critical and signing performance exterior of the “Bitcoin” application. It provides deceptive transaction affirmation requests indicating the picked app’s addresses and quantities when in simple fact unique transactions are becoming signed.


Stability Researcher

You can see this shown in the image under:


Ledger responded by declaring this difficulty is identified but is remaining on your own to make absolutely sure the components wallet stays straightforward to use.

How risky this exploit is to the typical person is unfamiliar, but not likely to impact most end users. You would will need many applications on your unit that are forks of the Bitcoin blockchain. The attacker would then be equipped to know the Bitcoin xpub and prompt transactions for Bitcoin devoid of making use of the Bitcoin application.

Ledger Stay and System Activation

Information: To use the unit, you are to start with instructed to obtain the Ledger Stay software program for your computer system or cellular unit. This is essential for you to authenticate the unit, control applications, develop wallets, accounts and transactions.

The use of devoted software program is an advancement around the to start with iteration which used Chrome plugins.

nano s setup

Upcoming you are prompted to develop a passcode to protected and configure the Nano S unit alone. At the time this is total you are offered with your 24 seed words and phrases, which you need to verify separately again to the unit immediately after you have recorded them.

This is the most crucial details relevant to each your wallets the Nano S unit alone.

Even though acquiring been presented a few playing cards to again these up, paper really should be acknowledged as the conveniently ruined medium that it is.

Information: An additional amount of protection and peace of head is conveniently reached by making use of the Billfodl which is a a lot much more catastrophe-resistant medium to keep your seed words and phrases in.

Passphrase guidance is also obtainable to present a ultimate are unsuccessful risk-free protection functionality in the party that your seed words and phrases wind up in the erroneous fingers.

Is it a Real System?

Right before heading any even more, you really should total a examine to identify your unit is legitimate and has not been compromised.

connect ledger
security checklist

Applications and Accounts

At the time the seed words and phrases have been verified you may possibly use the “manager” area of the Ledger Stay software program to set up the wallet applications on the unit.

Only as soon as the a precise application for just about every cryptocurrency has been included may possibly you develop accounts for it. Set up will take about a moment for each application.

Apps and accounts ledger live

One particular downside, even so, is the minimal selection of applications which you may possibly set up at any specified time. The most selection of applications is four or five dependent on what picks you make. This is the most obtrusive limitation of the Nano S.

Accounts, portfolio, ship/obtain and the supervisor are all on the remaining aspect menu in Ledger Stay. Compared with the applications on the unit, wallet accounts are fundamentally limitless and can be renamed as wanted.

ledger live accoun

This may possibly not be apparent to beginner end users, even so. Even though the naming conference and context of a wallet deal with becoming an “account” is helpful for conceptual reasons, it indirectly encourages the follow of deal with reuse which sacrifices privateness.

Sending and Obtaining Cash on Nano S

Sending and acquiring is easy as soon as the applications have been mounted and the wanted wallet accounts have been established. Transactions are established in Ledger Stay and then verified on the unit as depicted under.

ledger live send

One particular compact annoyance was knowing if the wallet really should be unlocked ahead of or immediately after you get started generating the transaction. It is finest to open up the wallet and unlock it but wait around till prompted to open up the application till Ledger Stay instructs you to do so.

The exhibit makes it possible for you to verify the deal with and volume ahead of manually finishing the transaction.

ledger screen send
ledger live transaction sent

Right after the transaction has been despatched, the specifics can be copied to the clipboard and one-way links to a block explorer are obtainable. The unit alone will log out immediately after a predetermined volume of time for protection explanations. The Ledger Stay software program also has this established to default but can be disabled if you would like.

Account Overview and Record

The best menu product aggregates all your wallet balances into one particular countervalue of your deciding upon. You may possibly decide on from numerous fiat currencies, BTC or ETH and it shows the transform in harmony around spans of a 7 days, thirty day period or yr.

ledger live historical view

From the options menu you can also export your transaction historical past in CSV structure which can make accounting rather straightforward.

operation history ledger live
Ledger live history export excel

Supported Cash

At the time of this composing, Ledger supports around one,one hundred cash, together with the larger types under and all ERC20 tokens.

Ledger live coin list

For a comprehensive rundown of the cash supported by each the Ledger Nano S and Ledger Nano X, see our site publish below.

In brief although, Ledger supports Bitcoin, XRP, Litecoin, Ethereum (alongside with all ERC20 tokens) as properly as all the major cash, together with:

  • Bitcoin Hard cash
  • EOS
  • Stellar
  • Litecoin
  • Tether
  • Tron
  • Cardano
  • IOTA
  • Binance coin
  • Monero
  • Sprint
  • Neo
  • And around one thousand much more!

Functioning Programs and Components Appropriate with Ledger Nano S

  • Android
  • iOS
  • OS X
  • Home windows
  • Linux
  • Trezor

The Relevance of the Display screen

Any components wallet that does not have its very own devoted display screen is a very worthless piece of components.


The total reason of a components wallet is to air-hole your wallet. That indicates you equipped to verify transactions and validate addresses on a unit that is not linked to the web.

Seed Recovery on Ledger Nano S
Seed Restoration on Ledger Nano S

If your components wallet did not have a display screen, it would will need to clearly show you the addresses and transaction info on a display screen linked to an web obtainable unit.

Warning: This would defeat the total reason of the unit in the to start with put, given that the info on your display screen could be conveniently manipulated (for occasion, telling you that you are sending resources to one particular deal with when you are in fact sending them to a further).

In the same way, a further rationale all components wallets really should have a devoted display screen is for the reason that you want to be equipped to check out your restoration seed on a unit that is not linked to the web.

This provides us to privateness with the Nano S.

Working with Ledger Nano S Privately

There are a selection of methods you can just take to make making use of your Ledger Nano S much more non-public and protected.

ledger nano s USB

To start with, you can established up your unit devoid of making use of a computer system at all. All the Nano S requires is a energy supply by way of USB.

You can also use the Ledger basically as a signing unit and choose to use your very own node to obtain transaction broadcasts as an alternative of relying on Ledger the business to hand that info off to you.

Screenshot of electrum.org
Electrum Obtain

The finest way to do this is with Electrum Particular Server, but this is an highly developed selection and not devoid of its very own pitfalls.


The Ledger Nano S is a deserving chilly storage unit, specially for newcomers. Even though the buttons, exhibit and connectivity possibilities have been enhanced on with the Ledger Nano X, these are creature comforts.

The a bit smaller sized element established of the Nano S will not diminish the encounter of a very long-time period HODLer who will most probably depart the unit unused for very long intervals of time.

With the Nano S storing your keys offline and your seed words and phrases held as backup in a protected spot, the sensible following action is to increase a Billfodl to the image. Committing your seed words and phrases to stainless metal will significantly lower the chance of fireplace, flood, chemical spill or most other disaster erasing your resources.


  • One particular of the most reliable components wallets

  • Person welcoming

  • System need to be linked for all functions

  • Multi-signature Guidance

  • System situations out immediately after a time period of inactivity

  • Passphrase guidance

  • Ongoing growth from Ledger


  • Minimal resolution display screen

  • Minimal application potential

  • Shut Resource



  • One particular of the most reliable components wallets

  • Minimal resolution display screen

  • Person welcoming

  • Minimal application potential

  • System need to be linked for all functions

  • Shut Resource

  • Multi-signature Guidance

  • System situations out immediately after a time period of inactivity

  • Passphrase guidance

  • Ongoing growth from Ledger

Ranking: eight.five/ten

Last Verdict

Our Ranking


Obtain Now

The Ledger Nano S is the most well known components wallet on the sector, and there is a very good rationale for that. It is compact, but straightforward to use. It is properly supported, and has a fantastic historical past in conditions of protection. It does have it is downsides although: it is clunky to navigate and the display screen lacks some thing to be wanted. The Nano X increases these shortfalls a whole lot, so it is worthy of examining out as properly.

We give Ledger Nano S a rating of eight.five out of ten!


Can Ledger Nano S be hacked?

Not conveniently, but it has been hacked ahead of. Ledger is incredibly very good about issuing updates to identified exploits promptly and delivers a handsome bug bounty for any one who can uncover a vulnerability in their components or software program.

How a lot of cash can Ledger Nano S maintain?

Ledger Nano S can maintain numerous unique forms of cash at a time. It is minimal by the volume of harddrive area on the unit. Nonetheless it can maintain an limitless selection of any distinct coin you want.

What if you eliminate your Ledger Nano S?

If you eliminate your Ledger Nano S, it is almost nothing to worry (most probably). When you established up your Nano S, you ended up specified a 24 phrase phrase. This makes it possible for you to restore your wallet if you at any time eliminate the Nano S or it is ruined or stolen. If an individual finds your Nano S, they are not likely to be equipped to get your cash until they are incredibly proficient and have a whole lot of time ahead of you go your cash to a new wallet.

Which is far better – Trezor or Ledger?

Ledger is much more protected if your wallet is identified, even so the Trezor does not have bluetooth, which minimizes the chance of a distant assault on your unit. The Trezor also has much more capabilities and a far better display screen if you do with the Product T.

Associated Assessments

Blockstream Jade logo

Read through Overview

Ledger Nano X logo

Read through Overview

Trezor Model T logo

Read through Overview

Trezor One logo

Read through Overview

KeepKey logo

Read through Overview

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