This is Ledger Nano S
Ledger Nano S is a Bitcoin, Ethereum and Altcoins hardware wallet, based on robust safety features for storing cryptographic assets and securing digital payments. It connects to any computer (USB) and embeds a secure OLED display to double-check and confirm each transaction with a single tap on its side buttons.
What You Get In The Box
Product Setup Tour
Things You Should Know About Ledger Nano S
Ledger is founded in 2014 and is a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications. Headquartered in Paris, Vierzon and San Francisco, Ledger has a team of 60 professionals developing a variety of products and services to safeguard cryptocurrency assets for individuals and companies – including the Ledger hardware wallets line already sold in 165 countries.
Setting up Ledger Nano S does not take more than few minutes. You will first need to connect the device to your computer through the micro-USB cable. You will be asked to create the four to eight digit PIN using the device’s screen. You can use the two buttons to increase or decrease the numbers. Once your PIN is set, you will be asked to setup the 24-word recovery phrase. You should also write those 24 words on the recovery sheet that comes in the box and keep it in some secure place. Recovery seed is the only way to recover your bitcoins in case the device is lost or stolen. You will then need to install a Chrome plugin to get started with your transactions.
When you first setup your Nano S, you will need to set PIN which can be from four to eight digits. This PIN is required to be entered for every transaction to and from the device. If you enter the PIN incorrectly for 3 times, the device wipes itself. And the only way to recover from the wiped device is your 24 words recovery seed. The same seed will be used if your Nano S gets stolen or lost.
Along with those 24 words recovery seed, Nano S also provide us an Advanced Passphrase Option. You can add your own custom text onto your 24 words recovery seed. (Note: option is only available in Nano S firmware 1.3 version). Your private key is stored in the secured section of Nano S. So it is impossible for any hacker to hack into the device and steal it.
Ledger Nano S has a simple design with LCD screen and is foldable with a compact metal casing. The screen makes it easy to validate each transaction. The Nano S can be powered on using any micro USB cable, connected to a charger or on any computer’s port. It has two responsive and well-built toggle buttons which add an extra layer of security as they need to be pressed simultaneously in order to confirm any transaction. It has its own App manager which can be used to install new apps and enable the support for many cryptocurrencies. It weights just 16.2gm with size 98mm x 18mm x 9mm. Currently, Nano S is the only device which supports maximum cryptocurrencies such as Bitcoin, Bitcoin Cash, Dash, Dogecoin, Ethereum, Ethereum Classic, Komodo Litecoin, POSW, Ripple, Stratis, Zcash, and ARK.
The recovery process in case of theft or loss of Ledger Nano S is similar to other hardware wallets in the market. You will need your recovery seed in order to recover your cryptocurrencies. Only one recovery phrase support all cryptocurrencies. You can just buy another Ledger device and get all of your coins on the new device just using the passphrase.
Ledger Nano S is a compact multi cryptocurrency hardware waller which currently supports maximum cryptocurrencies for storage. It was once cheapest hardware wallet among its competitors. But recently due to a shortage, it is selling with a high price on Amazon. It can also be purchased from Ledger Nano’s Website, but shipping will be significantly delayed.
Ledger Nano S Ratings:
|Ease Of Use:||(4.5 / 5)|
|Security:||(4.5 / 5)|
|Design:||(4 / 5)|
|Features:||(4.8 / 5)|
|Size:||(5 / 5)|
Overall Rating: 4.56 – GOOD
Pros and Cons of Ledger Nano S
1) It has a built-in display which provides the security of the transactions that you are making. The screen is also protected by metal swivel cover.
2) Easy to do the initial setup.
3) The after sale customer support from Ledger is excellent. The support team including their CEO is always active on Twitter.
4) The recovery process is fairly simple. The whole process can be done from the device without any need to connect it to the computer.
1) No Password Manager available.
2) No hidden account support. (They are currently working on it)