Ledger Nano S

The Ledger Nano S is a hardware wallet for cryptocurrencies. Characterized by the USB format, it is used only when connected to a computer, to minimize the risk of hacker attacks. The information contained in the device cannot be changed unless you, as the owner, modify it. In this in-depth analysis we see what are the characteristics of the Ledger nano S, if it is suitable as a wallet for Bitcoin and other cryptocurrencies and the pros and cons of its use. What is Ledger Nano S Wallet Hardware How does Ledger Nano S work Operating system Supported cryptocurrencies Is Ledger Nano S reliable? Is Ledger Nano S safe? Advantages and disadvantages Ledger Nano S vs Ledger Nano X Final judgment

What is Ledger Nano S Wallet Hardware

Ledger Nano S

The Ledger Nano S comes as a USB stick with Type-B output cable, instruction manual, recovery phrase sheet, neck strap and key ring. The hardware wallet is 9.8 x 1.8 x 0.9 cm in size, for a total weight of 16 grams. Perfect to take wherever you want, it has an OLED screen and has two buttons for basic configuration.
 How Ledger Nano S works

 It is used to manage your operations with cryptocurrencies: thanks to Ledger Nano S, you can store or transfer currency. Once logged into the device, just use the buttons to enter the chosen Pin. After using both buttons to confirm, you will get a 24 word sentence to write on the sheet in the box. Once this is done, it will be possible to manage Bitcoin and Ethereum immediately.

 For other currencies it is necessary to set the device by connecting the Ledger Nano S to the PC. The steps to do this are simple and quick: you have to start the Bitcoin Wallet program on your computer and then choose Ledger Manager. There are several programs to install: each corresponds to a different cryptocurrency. Immediately after, you will be able to view: how much cryptocurrency you have and what type; the wallet address; transactions for income and expenses.

 The company has also created a Chrome extension to use the wallet. From the extension, available from the official Chrome store for extensions, you can change the basic settings, verify your account and manage the codes with numbers and letters related to your operations with cryptocurrencies.
 Operating system

 The Ledger Nano S could be used for different operating systems: Windows; Linux; MacOS; Android (for smartphones); ChromeOS (for Chromebooks).

 Supported cryptocurrencies

 The hardware wallet can handle a large number of cryptocurrencies. It starts with Bitcoin and Ethereum, which are obtained when the device is first set up. Then, you can add through the wizard: Monero; Zcash; Ethereum Classic; Dash; Litecoin; Dogecoin; Hypercash

 and many others. To make it work, the device doesn't need you to install all the cryptocurrencies, only the ones you need for your investments. In fact, the hardware wallet allows you to manage 57 cryptocurrencies.

 Is Ledger Nano S reliable?

 The Ledger Nano S is an absolutely reliable device. No method is 100% secure, but the key and, in general, the hardware wallets, have the advantage of having limited access to the network, so they guarantee a lower risk of being attacked by hackers.

 Note: losing the block sheet or not remembering the phrase of your wallet, or even losing your USB key, means losing all your data. In this case, the company will not be able to do anything to help you. Hence, reliability depends on how you behave with your device.
 Is Ledger Nano S safe?

 The hardware wallet is secure, thanks to several tools. The first is 2Fa two-factor authentication, which materially creates a difficulty in the event of an attack. Then, for sites that allow it, it can be used to register credit lines and U2F. The apps are opensource, but they are completely isolated, to allow only the owner to edit.
 Advantages and disadvantages

 What are the pros and cons of the Ledger Nano S? Ledger's hardware wallet has an excellent quality / price ratio and respectable accessories. The first settings are simple and fast: for this reason it can also be used by those who are approaching this world. And once you get a little familiar with this wallet and with cryptocurrency investments, there will be no need to change devices: Ledger Nano S is also suitable for those who have reached pro levels. The cable included in the package is not for the PC, but for the smartphone.

 The security systems applied are the best that technology has to offer today, and allow for major entry and exit operations. You can safely use your wallet with different operating systems. For the sake of security, however, you shouldn't switch PCs often when using your wallet (this goes for those too digital).

 Does it have any cons? Unfortunately. You can always lose it. Then, it has very little ROM. If on the one hand, this is a safety factor, on the other it does not allow you to manage many apps at the same time.
 Ledger Nano S vs Ledger Nano X

 Ledger Nano X vs S

 Ledger has launched the new Ledger Nano x hardware wallet on the market. Hence, many are wondering if the old S is still valid. There are pros and cons to both. The Nano X certainly has a more valid battery over time. Estimates speak of at least 5 years of use without any problems. However, both of them must be connected to a PC to work.

 Some people may find the new X comfortable because it has twice the screen size, which can make all the difference when investing in cryptocurrencies. If the smaller screen isn't a problem, as it still has great visibility, then there's no reason to switch to the X.

 If you notice that you need a larger ROM to use a lot more apps at the same time, then it is better to use the Nano X. It depends on the frequency of the transactions. If you have a hectic pace of trading, the Nano X is preferred. If, on the other hand, as many do, you simply want to secure the private key, then you can choose the Ledger Nano S.

 In case you need to connect an iPhone for your operations with the hardware wallet, you can only use the Nano X. In fact, only this device allows you to connect a smartphone via Bluetooth. If you have an Android device, you can do without and connect the USB cable of the Nano S.

 Using Bluetooth, however encrypted, is a small extra risk. Of course, there is a one in over a million chance that someone will be able to crack the encryption in the exact 2 seconds you are using the Nano X for an iPhone operation via Bluetooth…