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Ledger Nano S The original hardware wallet: securely hold your crypto assets. The Ledger Nano S is built around the most secure type of chip on the market, ensuring optimal security for your crypto. Formerly known as Raiblocks, Nano is a cryptocurrency that focuses on providing financial solutions to both everyday users and businesses. It boasts with instantaneous transactions, zero transaction fees, and exceptional scalability. How fast is it really? Ledger Live will display multiple progress loaders, while your Ledger Nano S displays Bootloader, Update and Processing. Your device is successfully updated once Ledger Live displays Firmware updated. Ledger Nano S. Windows 8+, macOS 10.10+, Linux. 64-bits desktop computers excluding ARM processors. Use a USB cable to connect your device.
Ledger Nano S is a product of the company Ledger and its idea is based on the BOLOS platform and a Secure Element. This hardware device is highly rated because of its ability to isolate and keep your key pairs plus other vital crypto information away from every potentially vulnerable computer.
01.Ledger Nano S Features & Fees
Ledger Nano S is one of the preferred cryptocurrency wallets when it comes to security. The developers wanted to assemble a safe device for smooth connection between the user and the blockchain world. In order that to be accomplished, ended up in a product, which stores your data in a tamper-proof and eavesdropping-proof Secure Element. What is more, the access is private and securely done through a screen. There you have all available options, controlled just by the device away from harmful intentions.
One more important note, every hardware wallet runs with a certain software application. Compatible with Ledger Nano S are Ledger Wallet Ethereum, Copay, Ledger Wallet Bitcoin, Ledger Wallet Ripple, Mycelium, Electrum, MEW, BitGo and GreenBits.
Pros & Cons
In the next table I have listed the advantages and disadvantages of Ledger Nano S. It is good to get familiar with every aspect before investing. As you will see, this hardware wallet has more advantages, which makes it the right choice in so many ways. Have a look:
- SecurityImpossible to be hacked or attacked with viruses
- Multi-Assets SupportOperate with more than one coin or token, using the same wallet
- OLED DisplayAllows you to double-check each transaction
- AffordableOne of the most affordable OLED-based hardware wallets
- PIN ProtectionSet it with more than four-digits to guarantee an extra layer of protection
- Brand Reputation
Still GrowingNot as reputable as some of the leading hardware wallets yet, (e.g. Trezor) - Can store up to 5 coinsBecause of the limited storage capacity, the wallet can hold up to 5 coins at once.
Are you Interested in the Ledger Nano S Wallet?
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Read More on Multi-Coin Support and OS Compatibility Below:
Multi-Coin Support and Operating System Compatibility
The Ledger Nano S hardware wallet supports over 1100 tokens and more than 80 coins. Here, ERC-20 tokens are manageable only through the software wallets MEW and MyCrypto. All that makes it a convenient wallet worth investing in. The next tables will show you the most common and frequently used asset.
- EOS [EOS]
- XRP [XRP]
- Augur [REP]
- Aurora [AOA]
- Bancor [BNT]
- ChainLink [LINK]
- Crypto.com [MCO]
- Dai [DAI]
- Holo [HOT]
- IOStoken [IOST]
- Maker [MKR]
- Populous [PPT]
- Pundi X [PXS]
- Request Network [REQ]
- Status [SNT]
- TrueUSD [TUSD]
- USD Coin [USDC]
- WaltonChain [WTC]
- Zilliqa [ZIL]
- 0x [ZRX]
Every hardware wallet needs to be compatible with an OS, so you can manipulate and manage your wealth through each device. Ledger Nano S is very flexible in that department. Here are the compatible operating systems for properly using your hardware client:
- WindowsWindows 7 or later
- Mac OSOS X 10.11 or later
- LinuxUbuntu 12.04 / Fedora 21 / Debian 8 or later
- AndroidAndroid 7.0 or higher
- iOSIOS 9.1 or higher
Built-In Exchange: Faast
Even hardware wallets can offer inbuilt exchange service. For Ledger Nano S this convenient addition to features is called Faast. The process is a bit different from the one which software wallets use. I have summarized the process for you:
- Step 1 – Enable the browser support on your up to date Ledger device. Make sure you have some balance in the wallet. Otherwise, the exchange option will not be activated.
- Step 2 – Adjust the hardware option from the Faast portfolio page. Select Ledger from the hardware supported potions.
- Step 3 – Click on “Add all Cryptocurrencies” and follow the instructions (the should be both for ETH and BTC). When things are identified, click “confirm”.
- Step 4 – Click “swap” on the loaded page, where you can also check the balance of your holdings thanks to the pie charts.
- Step 5 – Adjust the amount you wish to swap using the slide bar. Then click “add assets” and select the asset you need. Press “save”, and the transaction starts.
Is Ledger Nano S Safe?
Security
That is not the situation with Ledger Nano S wallet. It stores all bits and pieces of private data safe and helps you execute convenient and safe operations. This hardware does that thanks to an AIS-31 compliant true random number generator (TRNG). The standard used is known as BIP 39 and serves for generating the master seed.
Additional Passphrase Support
BIP39 passphrases, which are not stored or remembered on the Ledger Nano S.
Protected Key Operations
Operations are allowed only after authentication via PIN.
Privacy and Anonymity
This important aspect of the crypto actions is taken care of by the developers in the Ledger team. It is secured by hierarchical deterministic key generation from a single master seed. This way, it will contain your passwords, cryptocurrency private keys and other cryptographic data. It is not a password or a PIN, instead, it’s the core of your every crypto detail. You only need to access it when you first create and in case you have to recover your Ledger Nano S.
PIN
Extra protection, keeping your information hidden from the others
Hierarchical Deterministic (HD)
Generates numerous addresses. Use different one with every transaction. This covers your online tracks
Transaction Fees
Every transaction is accompanied by a fee, which determines to a great extent the speed of processing the data. Usually, the network depends on the work done by the miners. They are the ones creating every new block. For all their efforts, fees are the reconciliation price.
With Ledger Nano S wallet, you can choose the amount of the fees for each step you take. This way you determine your place in the queue of pending transactions. Usually, higher fees are always prioritized. In case of setting lower ones, you will wait a while. A convenient feature of this hardware wallet is the live aspect, estimating three types of fees high, standard and low. Basically, the size of your transaction determines the fee. Therefore, more outputs and inputs are considered expensive data to push through the network. Use this information wisely.
Conclusion
After reviewing Ledger Nano S, I can say it is a great choice for a crypto wallet. It is safe and even has the option for 2 PIN codes, leading to separate accounts. This way you can divide the assets for daily usage and the larger sums. The malware detection and keeping your data safe even when connected to an infected computer is something I definitely look for.
- Multiplatform
support - Multicoin
support
There are few things that might force some of you to step on the breaks when choosing a hardware wallet. That is the investment and the not so high popularity. Ledger Nano S is not so widely spread as Trezor. Both are multi-coin representatives with high level of privacy and security.
02.Ledger Nano S Wallet Guide: How to Setup and Use
In this section, I will explain the installation process for Windows, MacOS and Linux, after which, I will provide guidelines on how to use Ledger Nano S. The wallet has a lot of useful functions and only a few things to watch out for.
How to Install
Even hardware wallets need installation guidance. First thing first, chose the proper operating system and follow the steps exactly. They are diverse, because the requirements differ. Have a look in the next tables:
Choose Operating System
- Download the Live application
- Click “yes” on the warning displayed after double-clicking on the downloaded file
- Click “finish” after the installation is completed
- Download the Ledger Live application
- Double-click the .dmg file. Drag and drop the app to the App folder
- Use Spotlight or Launchpad to open the file and click “open” to allow the process of installation
- Download the Live application
- Terminal
chmod +x ledger-live-*.AppImage
makes the file executable - Use the terminal or double-click on the App Image to launch the program
Interface Overview
The interface is simple, comprehensive and contains only 4 main elements, which smoothly lead you to the rest of the choices. To the left you have a menu with sections like send, receive, portfolio, manager and exchanges. They lead you directly to the desired options just with one click. On the top of your Ledger Nano S display, you will see main view and application controls. From these, easy to reach are your accounts, the settings, network status at the moment and the pass lock option.
Create an Address
When Ledger Nano S supports your coin and has the corresponding app, add an account (e.g. BTC for Bitcoin account) from the icon to the left. Choose the currency from the drop-down menu or just type it in. After clicking “continue”, Ledger Live starts scanning the blockchain for existing accounts. Then, you have several options- “Select existing accounts” (already with blockchain transactions), “Add new account” (your previous account must have at least one asset transfer) and “Accounts already in portfolio”. After clicking “continue” the selected accounts will be added to Portfolio. When done, close the menu.
Send and Receive Assets
The receiving part is happening automatically, without any confirmations. The only condition is to provide the correct address. To send though, you need several actions – “Send” to the top left, then pick the account you want to send from and enter the recipient address. Then type an amount and make a decision on the network fee. To remind you, higher fees mean faster data processing. The press “Continue”.
Hint: Check the address before you press “send”. The process is irreversible. Even one mistaken symbol can cause assets loss.
Backup and Restore
Backup
Install and secure your phrase
Compress files on computer. One of the backup options to recover your crypto wealth is the 24-word recovery phrase. It is gained from the display. When writing it down for safe keep, make several copies. Each one must be kept on separate locations. A piece of advice – avoid typing the phrase on a PC or phone. Sharing it or taking pictures are not good ideas as well.
Create a PIN and save it
With Ledger Nano S, you can choose a PIN during the initialization process. Make sure you do that alone. In case you feel threatened that it has been leaked in a way, change it immediately. Be careful with entering it more than 3 times. This will reset your wallet. Easy PINs or saving them on a PC and phone are not advisable. If anybody offers you to use a code, not created by you, avoid using it.
Restore
Configure and restore wallet from a seed
Use a USB cable to connect the hardware client to your PC. Press the two buttons at the same time. When you see a massage for configuration, click the left button. Then press the right one for “Restore a configuration”. Then the seed is required.
Restore by importing a recovery phrase
First press the right button to choose the length of the phrase you are about to enter. Then choose the letter of the first word. Selecting letters is happening with both buttons. Continue till the Ledger Nano S shows word suggestions. When entered the phrase. If everything is in order, you will see message for device being ready.
Specific Functions
Ledger Nano S wallet supports one very interesting function called “Plausible deniability”. It is a preventive measure, in case you are forced to reveal the PIN of the Ledger device. With this specific function, you will have particularly 2 PINs. One code gains access to your main wallet, where the intruders will end up stealing a small amount of crypto. The second PIN is linked to a specific passphrase (which must be set earlier) opening a hidden account, containing all of your coins and tokens (it is usually rarely used).
Possible Issues and How to Avoid Them
Let me start by explaining what the procedure is when you have connection issues. In order to fix that for your Ledger Blue and Ledger Nano S, start by changing the chosen application. Other fixes might be turning the VPN off, do the same with the anti-virus, change the USB cable or port. The connection can be fixed after a PC restart or simply try the wallet on another computer.
There is one more issue with this kind of devices and it is related to the screen. If it doesn’t respond, do the following procedure: launch the downloaded manager, press and hold the left button for minimum 5 seconds, plug in the Ledger Nano S and should see “Bootloader” on the display. Then the manager will be active, and you are ready to use the wallet.
03.FAQ
Trezor
I cannot access my Ledger Nano S device. What to do?
If it is lost, stolen or damaged, just follow the restore procedures on another device, supporting 24-word recovery phrases. Karaoke player for mac.I have forgotten my PIN. What now?
Try not to type the wrong PIN more than 3 times, because your Ledger Nano S will reset to factory settings. In case that happens, type in the recovery phrase and set a new PIN.What to do when my Nano S shows only the “Settings” menu?
This is due to a recent update or reset. This procedure wipes your device clear from any information, that is why you see only that menu. Now you have to start installing programs and apps all over again from the Ledger manager. Bear in mind that your private keys are still untouched. This is because they are linked to the 24-word recovery phrase.
04.About Ledger Nano S
The team behind Ledger embedded security, cryptocurrencies and entrepreneurship with creating secure solutions for blockchain applications began back in 2014. The company grew from 8 to over 130 employees just for several years. They are spread in more than one city – San Francisco, Paris and Vierzon. Their crown jewel is the distinctive operating system (OS) called BOLOS. Ledger are the pioneers in providing such security solutions in the crypto world.
Ledger Nano S on Social Media
To follow Ledger’s updates and ongoing deeds, follow them on several social media channels. They are genuinely active and want you to walk hand in hand with the Ledger Nano S and their other products. Click on the links below and become part of the community.
We’re thrilled to announce the release of the Ledger Nano S firmware version 1.6, which brings security and cryptographic enhancements as well as many improvements in user-experience.
One key update that we’re really excited about: with firmware 1.6, you’ll be able to install more applications on your Ledger Nano S!
We highly recommend all our users to update their Nano S by following these steps.
Important note: the firmware update will be released progressively. If you don’t see it available in your Ledger Live application, don’t worry. This means you will be able to perform it slightly later.
Thank you to all Ledger Beta Testers for their participation in this campaign and their help.
Increased Capacity
Today, Ledger Nano S users can install 3 to 7 apps of the current market cap’s Top 20 at the same time (e.g. BTC, ETH, XRP, BCH, LTC at the same time on a single device), or up to 20 dependent apps on their device depending on the app size (see here for examples of app combinations).
With firmware version 1.6 we have reduced the firmware size, allowing users to install more cryptocurrency applications. After updating, your device should have the same amount of space for apps as with firmware version 1.4.2. Some examples of app combinations:
As a reminder, deleting an app does not impact your cryptocurrency holdings: when the app is reinstalled, the original balance is retrieved.
A Better User-Experience
Significant improvements have been made in this new firmware version to improve the user-experience.
The Ledger Nano S interface is now more consistent and closer to that of the Ledger Nano X: you will always have to press a single button to select an item (left or right) and press both buttons simultaneously to validate or cancel any action.
The setup and restore procedures have also been improved, with additional instructions and easier flows to help you manage your device.
The options to rotate or invert the screen have been removed in order to make the firmware smaller and increase device capacity.
Some bugs have also been fixed such as the WebUSB support (which was not working properly with firmware version 1.5.5) or Windows 8 USB packet.
Keep Improving Your Security
The Ledger Donjon team is continuously working on improving our devices security by attacking our products. This work has led to some improvements which are included in the firmware version 1.6 release:
- Hardening PIN code entry by randomizing the order of digits and symbols to mitigate a potential attacker from counting button clicks to guess the PIN code
- Added screen jitter and partial screen inversion so that a potential attacker cannot guess the screen contents by measuring the power consumption of the device (learn more)
- Starting from firmware version 1.6.0, the microcontroller (MCU) will be updated by the Secure Element, further increasing the security of the update process and improving the user experience
Some cryptographic additions and improvements have also been included in this firmware version:
- Added CTR mode as available block cipher mode
- Added Stark 256 curve, used for some zero-knowledge proofs
- Enhanced computation of Schnorr and EdDSA curve points
- More flexible hmac/hash engine used for key computations
- Faster execution of the SHA256 hash algorithm
Additional features
Advanced Privacy setting:
The feature currently allows to restrict a unique wallet identifier queried by Samsung Blockchain SDK. This “privacy” setting also paves the way for future privacy enhancements such as systematic approval of third party calls for a public key.
The feature currently allows to restrict a unique wallet identifier queried by Samsung Blockchain SDK. This “privacy” setting also paves the way for future privacy enhancements such as systematic approval of third party calls for a public key.
A new project allowing developers to test and run apps without any hardware device has just been released: Speculos (https://github.com/LedgerHQ/speculos). More information here.
Ledger Nano S Software Mac Pro
We recommend all our users to install this latest version to make the most of the improvements it brings.
Ledger Nano S Software Download
If you encounter any issues during your firmware update, please refer to this article.
Download Ledger Nano S
Ledger Nano S App Manager
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