This is the cheapest Ledger Nano model available, yet every bit as secure as its big brother Nano X. You can install up to 6 applications on your device at the same time, depending on their size. Ledger Nano S supports Bitcoin, Ethereum, XRP, Dogecoin, Bitcoin Cash, EOS, Stellar and many, many more. In fact, you can safely manage 1,800+ coins and tokens with the Ledger Live app, directly from your smartphone or desktop. Nano S’ main limitation compared to the big brother Nano X is its lack of wireless connectivity and limited memory space, however, you can safely install & uninstall applications on your device to optimize your capacity needs at any time, without the risk of losing the associated wallets or funds. When you need access to one of your previously uninstalled assets, you just install the app again and it’s right there waiting for you as if you never uninstalled it in the first place.
How Ledger Nano S works
Any transaction needs to be verified and confirmed by you on Ledgers screen. It informs you of a transaction attempt, the amount of currency, max amount of fees you agree to and the wallet address you are sending the funds to. Once you verify that the supplied information is correct, you can either approve or reject the transaction with a physical simultaneous press of the buttons on the device. Only then is the internal handshake (with use of your private keys) conducted and the transaction carried out. Unless you physically confirm the transaction, the funds will not leave your possession and the private keys will remain safely stored on your Ledger.
The best part of owning a Hardware wallet like Ledger is that your private keys never leave the secure and encrypted/locked environment of your Ledger device, not even during the authentication phase aka “handshake”.
“If you are on a limited budget, look no further”
If you are looking for a cost effective solution, Ledger Nano S (link to official store) would be the best bang for your buck and comes with out seal of approval. If money is not an obstacle though, you might want to look into what Ledger Nano X has to offer as well. Bigger screen, wireless connectivity and memory space for 100+ apps are its main selling points. Nano S vs Nano X comparison.
If what we’ve told you in plain words so far is not enough, proceed with the “sales pitch” below:
Your private key giving access to your coins is never exposed. It is protected within a secure chip, the same chip as the one used for passports and credit cards. Your device is additionally locked by a 4 to 8 digit PIN code that resets your wallet after 3 wrong attempts.
The Ledger Nano S supports numerous cryptocurrencies and tokens, allowing you to manage multiple assets with the same hardware wallet.
Easy to Use
The device is controlled by only 2 buttons, and all actions can be verified on its screen. The Ledger Live app enables you to easily oversee and manage your crypto transactions in a safe manner, protected by its hardware counterpart.
As an additional security measure, your device is additionally locked by a 4 to 8 digit PIN code that resets your wallet after 3 wrong attempts, should your hardware wallet fall into the wrong hands. Fear not however, you can easily restore all your keys and crypto on another Ledger device with the use of your 24 word recovery seed phrase.
No need for an anti-tampering sticker to protect your device. The secure chip checks the integrity of your device each time it’s powered on. Much better than any sticker would! To make sure your Ledger device is genuine and not fraudulent or counterfeit, please head to their website and perform the verification.
Shielded Against Attackers
Ledger wallets are powered by BOLOS, a unique, proprietary operation system developed by Ledger. This system creates an individual shield around each app on your Ledger wallet to protect them against attackers.
All Your Assets, One Device
Ledger Nano S can simultaneously run 5 to 18 applications, giving you access to more than 25 cryptocurrencies and hundreds of ERC20 tokens! Even if you uninstall an application in order to make room for another, the keys to access your crypto assets remain stored and secure! You’ll still be able to manage your assets by simply re-installing the application on your Ledger device.
The Ledger Live app enables you to easily and safely check your balance, and send or receive crypto assets from your smartphone or computer within a familiar environment of a Ledger protected software wallet.
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