• Anti-Hacking: ★★★★☆ 4/5
  • Sending & Receiving Coins: ★★★★★ 5/5
  • Supported Coins: ★★★★★ 5/5
  • Regular Firmware Update: ★★★★☆ 4/5
  • Phone Connect: ★★★★★ 5/5
  • Convenience: ★★★★★ 5/5
  • User Friendliness: ★★★★☆ 4/5
  • Address Types: ★★★★★ 5/5

Ledger Wallet Review [Price, Features, Alternatives]

Fact-checked
  • Anti-Hacking: ★★★★☆ 4/5
  • Sending & Receiving Coins: ★★★★★ 5/5
  • Supported Coins: ★★★★★ 5/5
  • Regular Firmware Update: ★★★★☆ 4/5
  • Phone Connect: ★★★★★ 5/5
  • Convenience: ★★★★★ 5/5
  • User Friendliness: ★★★★☆ 4/5
  • Address Types: ★★★★★ 5/5

Best For

Best for portability

STRENGTHS

  • Plenty of coins supported.
  • Advanced security features.
  • Small design.

WEAKNESSES

  • No live customer service feature.
  • Buttons can feel clunky.

So you’re into crypto and are looking for the right wallet type to store your digital coins. With cryptocurrency becoming more widely used, various crypto wallets are becoming available on the mass market. There are a couple of good choices out there, and in this article, we’ll give you an overview of one of them.

In our Ledger wallet review, we’ll fill you in on this crypto wallet’s features, setup process, price, and other things you need to know if you’re considering the Ledger Nano S to be your offline mobile crypto storage.

If you’re looking for the best crypto tax software or most popular trading platform for bitcoin, check out our other reviews as well!

What Is Ledger Wallet, and How Does It Work?

The Ledger wallet, in essence, functions as a normal wallet would, except that this one stores cryptocurrency, not cash. It’s a hardware device that lets you store, send, and receive different cryptocurrencies while keeping everything safely in your pocket.

If you’re wondering why you would need a hardware wallet when there are software wallets downloadable on desktop or mobile devices, the answer is security. Software wallets are susceptible to being hacked. While connected to the internet, hackers can install malicious codes or malware, compromising your private keys and eventually stealing your digital identity and precious coins.

Hardware devices like the Ledger crypto wallet keep your coins away from hackers’ reach by storing them offline in a physical device. This makes it impossible for anyone to have remote access to your cryptos, making them virtually safer than any connected storage.

Practically speaking, for anyone to be able to steal your cryptos, that would mean they’ll have to get a hold of the actual device and know your PIN.

Ledger’s Main Features

Now that we have learned what is Ledger let’s take a look at its main features:

Anti-Hacking

As already mentioned in this Ledger crypto wallet review, being a physical offline backup device in itself should already keep it outside any hacker’s reach. In case someone with harmful intentions is able to grab the device, they’ll have to get past the PIN authentication which has a three-time limit. If the wrong PIN is entered for the third time, the device will enter a timed lockout. At this stage, you may regain access to your Ledger wallet using your preset backup passphrase, which is definitely a pro feature.

Sending and Receiving Coins

The movement of crypto is easy, convenient, and secure with the Ledger wallet. The hardware device is supported by the Ledger Manager, which you have to download and install on your computer. There’s also the Ledger Live that you can use for mobile devices. Inside this software, the process of sending and receiving coins is very intuitive; Just make sure you’re connected to the internet.

Supported Coins

One of the most important features of any crypto wallet is the number of supported cryptocurrencies, and Ledger has a lot. Ledger Nano S-supported currencies include the best and popular coins like Bitcoin, Etherium, XRP, Dash, and IOTA, among many others. At the time of writing, there are about 107 cryptocurrencies and more than 1,000 tokens supported by Ledger.

Regular Firmware Updates

Ledger Nano S’s firmware is regularly updated to keep on top of security and features. While there is no regular schedule as to when new versions are being released, you can be sure that your device will always receive updates every now and then.

Phone Connect

You can connect to your Ledger Nano S using your mobile phone, and you can use many of its functions as long as you have an OTG cable. Once you’ve connected both devices together, you can install and uninstall apps, add accounts, send, receive, and trade cryptocurrencies using the Ledger app on your phone.

Convenience

Because of its small size, the Ledger crypto wallet is very convenient to carry around. It’s just about the size of a standard thumb drive, which can easily fit in pockets and purses. It also has a swivel cover to keep it protected from physical damage caused by impact, abrasion, or pressure in tight spaces.

User Friendliness

Using and operating the Ledger wallet is very easy. There are two small buttons used to navigate through functions in the hardware. There’s a small screen so you can see what you’re doing, and texts are big and bright enough to be clearly seen; the two-button operations are well adapted to client needs as well.

Address Types

When it comes to addressing types, there’s a choice between Legacy or Segwit. We won’t be talking about the advantages of each, or which one you should use in this Nano Ledger wallet review though. Whichever you think is the better address based on technical specifications or personal preference, the Ledger wallet supports both of them.

The Setup Process of Ledger Wallet

Here are the steps on how to set up the Ledger Nano S:

  1. The first step is to plug the Ledger Nano S into your computer’s USB port. Once this is done, you should get a prompt on the Nano S’s screen that says “configure as new device”. Press the right button for yes.
  2. The drivers will then start to install. After this installation, you’ll be asked to nominate a security protection PIN. You’ll have to proceed by pressing the two buttons at the same time.
  3. To create a PIN, scroll up or down the numbers using either the left or right button. Move on to the next by pressing both at the same time. You’ll have to re-enter your nominated PIN for validation.
  4. After the PIN entry, the next step is to write down the 24-word recovery phrase. These words are used for device recovery, so make sure they are kept secure. Write them down on the sheet provided, and keep them out of reach of anyone except yourself. We can’t emphasize enough in this Leger wallet review how important this recovery phrase is. In case your device gets stolen or you forget your PIN, these words are the only ones that will give you access to your coins.
  5. The Nano S will test you if you’ve indeed taken down those words so just follow the process. Once the passphrase entry has been verified and that you’ve set up all the security protocols, the Ledger wallet is now ready for use. You can already start trading or storing coins from the best crypto gambling sites you’re a part of.

Ledger Wallet Price and Variants

The Ledger wallet has another variant, the Nano X. The Nano X is very similar to the Nano S, just with a little more advanced specifications. In the table below, we’ve highlighted their main differences.

Types of Ledger Wallets Price Connector Ledger Live Mobile Support Screen Bluetooth Compatible
Ledger Nano S $71 USB – B Android 128 x 32 No
Ledger Nano X $126 USB – C Android, iOS 128 x 64 Yes

There is a huge price difference between the Nano S and the Nano X. While the Ledger Nano X does have more advanced features, the Nano S is the standard of what you’ll need from a crypto wallet. If you really care about USB C, Bluetooth compatibility, or want to connect to an iOS device, the Nano X might be a good upgrade. Otherwise, the Nano S should serve you just fine.

Customer Support

The Ledger wallet does not have any form of customer support. At best, they have a finder section on their website, where you can type in issues and receive answers from their archives.

Ledger Alternatives

Here are some Ledger alternatives to look into if you’re curious about other companies:

Nano Ledger S vs Trezor

Win Ledger supports more coins.
Lose Trezor has a bigger color touch screen compared to Ledger.
Best for Choose a Nano ledger if you trade more coins.

Nano Ledger vs Keepkey

Win Ledger’s thumb drive design is best for portability.
Lose Keepkey has a better hardware interface compared to the Nano’s clunky two-button design.
Best for Choose Keepkey if you’re looking for a large screen.

There are many products that could go head to head against Ledger, but Ledger has an edge when it comes to the number of supported coins and its superb thumb drive design.

Is Ledger Worth It?

Ledger wallet price schemes come in two tiers given the different models. For the asking price, the Nano S is undoubtedly a good buy and could qualify as everybody’s best bet. The Nano X, on the other hand, is for those who like extra features and don’t mind paying a lot more for them.

Where Ledger Dominates

Ledger’s pros & cons:

Pross

  • Plenty of coins supported.
  • Advanced security features.
  • Small design.

Cons

  • No live customer service feature.
  • Buttons can feel clunky.

FAQ

How can you reach Ledger wallet customer support?

Ledger does not have any live support dedicated to customer issues. If you have issues with your device, you can go to their support page and type your problem in their question finder. Any answer to your question should then be listed for you.

Can you store Ripple on your Ledger device?

Yes, both the Ledger Nano S and Ledger Nano X can store Ripple (XRP). They can also be managed directly using the Ledger live software.

How many coins and tokens can Ledger Nano hold?

As mentioned in the earlier parts of this Ledger wallet review, the Ledger Nano can hold roughly 107 coins and 1,000 tokens.

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