With Bitcoin, Alt Coins and STEEM values exploding higher this month I thought it would be a great time to review the Ledger Nano S Cryptocurrency hardware wallet.
I am a strong advocate for using hardware wallets for their security and peace of mind.
Introduction
I have read several "reviews" of hardware wallets that are more setup tutorials or a list of specs.
This is not a tutorial!
If you would like a tutorial let me know in the comments. If you would like a more thorough breakdown of why I like hardware wallets let me know that too.
I intend to have this review be short and concise, listing some specs and features but focusing on my judgement of the device on 7 criteria
Design - The overall design of the device
Construction - Is the device well built, durable?
Ease of use - How easy is the setup and operation of the device?
Compatibility - How many and what cryptocurrency can be used with the device?
Security - What security protocols are put in place to protect your keys?
X Factor - Does the device have any unique features that set it apart from the competition?
Price - Value for cost
The device ships with the following...
- Ledger Nano S
- USB cable
- Instruction Sheet
- Recovery Sheet
- Accessories - Lanyard & Key Ring
Specifications
DIMENSION & WEIGHT
Size: 98mm x 18mm x 9mm.
Weight: 16.2g.
COMPATIBILITY
Windows (7+), Mac (10.8+), Linux or Chrome OS. Requires Google Chrome or Chromium, and one USB port to plug your Ledger Nano S.
MATERIALS
Brushed stainless steel and Plastic.
MICROCONTROLLERS & CONNECTOR
Connector: USB Type Micro-B.
Certification level: CC EAL5+.
Chips: ST31H320 (secure) + STM32F042.
Design
Overall I really like the design of the Ledger Nano S. It is simple and functional. The brushed metal is a very nice touch. The device comes shipped in a box very similar to an Apple product, good presentation.
Construction
The device is lightweight and has a similar feel to any USB device. The brushed metal outer shell is well built. The plastic feels a bit too light weight and I would question it's durability as compared to its competitors. The USB cable also seems to be lower quality. I have not had an issue with the USB but have read that several others have. I believe Ledger will replace your USB cable if it shipped with a faulty USB.
Ease of Use
The Ledger Nano S is extremely easy to setup and use. The directions on their website are very clear making setup a breeze. The Google Chrome apps needed to use the device are simple and elegant. You can download an app for Ethereum and Bitcoin, Alt coins can be setup using the Ledger Manager app and used through the Bitcoin app. Out of the wallets I have used thus far I prefer the Ledger's operation and Chrome Extensions. The clear directions are a big plus for this product!
Compatibility
The Ledger Nano S comes setup to use Bitcoin and Ethereum. You can easily enable wallets for the following Alt coins...
Dash
Dogecoin
Litecoin
Zcash
Stratis
Security
SECURE ELEMENT
Ledger Nano S is based on a dual chip architecture (ST31/STM32). The firmware integrity is guaranteed by cryptographic attestation.
PIN CODE
Ledger Nano S ensures only you can access your accounts by requiring a 4 digit PIN code each time it is plugged to your computer. (I believe the newest firmware allows for a longer PIN code)
MALWARE PROOF
Initialization or restoration of your configuration is fully done on the secure environment of the Ledger Nano S. Your cryptographic secrets are never exposed to the outside world.
Overall the security features of the device are good, especially if they will be updating to allow for longer PIN codes. In order to access your wallet you need physical confirmation from the device.
X Factor
The Ledger Nano S supports the FIDO® Universal Second Factor authentication standard on Google, Dropbox, GitHub or Dashlane. I think this is a cool extra feature to have and is a nice addition to the device.
Price
The Ledger Nano S retails for $89.99 and and can be purchased through Amazon or their Website. I believe the price is fair for the product. Most of it's competitors retail for around $99.99.
Conclusion
I really like the Ledger Nano S overall. It has a great look, great features and is easy to use. I prefer their chrome extension interface to that of other wallets.
The ledger is great if you want a hardware wallet to carry around with you, although I would remember that the main body is made with light weight plastic and that there is a reason for the lower cost.
I would note that on a few occasions the device caused some issues with my USB ports. "Could not identify USB". The problem was easily fixed but annoying. I cannot say if it was the device or my personal computer causing the issue. (Firmware updates may resolve)
For the price the Ledger Nano S is a great option!
If you are considering buying your first hardware wallet I think this is a great product to start with!
Ledger also sells other products I just have not been able to test them.
https://www.ledgerwallet.com/products/ledger-nano-s
Photos direct from Ledger Website
If you have any questions about the Ledger Nano S that were not covered in the review comment below and I will do my best to answer them.
