Ledger Nano S Review: Earlier today, NiceHash hacked, one of the most popular crypto trading sites lost more than 6,000 BTC in a few hours. So, it is time to protect our cryptos from Bitcoin to whatever coins. Best Hardware Wallet to store bitcoin is Ledger Nano S without any doubt. Let’s talk about the Ledger Nano S Following my previous hardware wallet reviews of the TreZzoR and the Digital Bitbox.
The Nano S is a hardware wallet made by a company called Ledger, and they’re primarily based out of France, but they also have an office right here in San Francisco. It comes in a conveniently sized package, which reminds me a lot of a USB flash drive. I might have been carrying around 10 years ago, and in that vain, Ledger include all the accessories you’d need to carry it around just like that To plug it into your computer, you simply swivel the Nano S from the metal shielding it’s in, and then use the included micro USB cable to connect it to your computer.
Now just like my criticism of the TreZzoR, I’m not a huge fan of having to lug around a micro USB cable to just plug in my hardware wallet, especially in this case where Ledger have made the Nano S look like a flash drive, which if it was a storage device 10 years ago, you’d be able to plug it straight in without a cable So that loses it a point in terms of portability when you’ve just got it on your key chain.
How does Ledger Nano S Hardware Wallet work?
You can’t use it without that cable That being said, unlike the TreZzoR it does fit on your key chain a lot more comfortably, and you don’t really notice it in your pocket when it’s there Set up is similar to any other hardware wallet We start by entering a numeric pin and confirming it, and you’ll need to use this pin every time you want to unlock the wallet and use it in the future After your pin is set up, the Nano S will generate your seed phrase, which it will then ask you to write down in secure place, very similar to other hardware wallets.
After you’ve written it down in a safe place, it’ll actually ask you a little quiz about some of the words just so it can confirm you didn’t write down any wrong Once you’re all set up, you’ll see the installed apps on the Ledger Nano S’s screen This is actually different from other hardware wallets in that you have to install these apps which correspond to different currencies you want to use on the device. The apps installed on the physical device then actually work in tandem with Chrome apps on your computer to manage the wallets There are a few different Chrome apps you’ll have to install to use the Ledger Nano S.
There’s one for Bitcoin and Altcoins, one for Ethereum, and another for RIPL. There’s also an app called the Ledger Manager, which is what you use to install different types of currencies and apps on the device. To start using a wallet, you simply select the coin or currency you want to use on the physical device itself, and then you open the corresponding app from Chrome, Of course, you’ll need to have the Ledger Nano S plugged into the computer at this time. The UI and user experience of these Chrome apps is really top notch, and I found it one of the nicer wallet experiences out there.
It’s simple, minimalistic, and easy to navigate around to manage your wallets At first, I did find it a little confusing that they just didn’t bundle up all these Chrome apps, the Bitcoin, the Ethereum, the RIPL, the Altcoins, all into one app, because I did feel like I was kinda bloating up my Chrome install a little by having to install four different Chrome apps or extensions, but the cool thing about the Ledger Nano S being completely Chrome based on the management side is that you can take the Nano S to any computer that has Chrome and start using it straight away There’s no desktop apps to install, and Chrome is pretty much installed on most computers these days As with any hardware wallet, when you’re performing a transaction, all the cryptography is taking place on the secure element on the device That signed transaction then simply gets sent back to the Chrome app, which broadcasts it to the network.
One thing to note is that although the device has an Ethereum app that you can install, that doesn’t get you access to ERC 20 token out of the gate Like most hardware wallets out there, they’ve partnered with myetherwallet.com, so you can use the hardware wallet to connect to that service Set up is actually a little confusing here compared to the other wallets You first have to go into the Ethereum app on the hardware device and enable something called browser support.
This actually tripped me up a little bit at first, cause I was plugging it trying to figure out why it wasn’t working A quick Google search told me that I had to enable this option It just wasn’t very clear up front But from there on out, you simply select the Ledger option on My Ether Wallet, login, and then you can use My Ether Wallet just like you would for any ERC 20 token Now one are in which the Ledger Nano S does score bonus points is that it does support Dogecoin with it’s default apps
I had to choose whether to uninstall Lightcoin, Ethereum, or Bitcoin just to get enough space on the device to install the Dogecoin app This really isn’t ideal, but I’ve heard that Ledger might be working on a fix from a software side, although it’s kind of a hard problem to solve when it’s a hardware limitation of the flash memory As seems to be standard with most hardware wallets today, the Ledger Nano S does support universal second factor, and this means you can use the hardware device as a second factor for logging into your favorite services I recommend you check out my other video on universal second factor, and how it’s a great way to secure yourself online It functions very similar to how the TreZzoR, or the Digital Bitbox, or even a Yubikey would, but I don’t find it as convenient as something like a Yubikey, because you do have to carry around that micro USB cable
It’s not ideal If you’re looking for a solid, secure multi currency wallet that’ll support all the broad range of coins out there, then the Ledger Nano S is definitely for you If you’re looking for something a bit more portable, and are happy with just supporting one or two currencies like Bitcoin and Lightcoin, then you might want to look at something different like the Digital Bitbox, because it can plug into a computer without requiring that micro USB cable It’s really a trade off in what you’re willing to sacrifice, but I will say that Ledger Nano S has the best currency support out there That’s my review of the Ledger Nano S.
How to Buy Ledger Nano S Hardware Wallet Online
It is very easy and straightforward to buy Ledger Nano S hardware in the US, UK and any other countries in the World. Ledger Wallet official website is shipping the hardware device. You can get it here,