Ledger hardware wallet: device review. Setting up and installing the Ledger Nano S hardware wallet Full Ledger Nano S Review

Cryptocurrency rates have risen so high that just a few coins can make a person a millionaire.

Now it is reasonable to think about the security of your assets, because a whole army of hackers is hunting for altcoins. Obviously, you shouldn’t store them on exchanges and other sites, but there are cases of hacking of applications on computers.

It was for safety reasons that I bought myself a special device. Setting up and installing the Ledger Nano S hardware wallet isn't the most difficult thing, but many newbies don't know what to do.

Therefore, below are detailed step-by-step instructions. With it you will definitely figure out how to start using cold wallets.

Why I bought Ledger Nano S

Regular readers of my blog already know that I earn Bitcoin and its analogues on many services. I receive payments consistently, and against the backdrop of rising rates, the profit is impressive.

I, like many other owners of cryptographic money, have some doubts about the security of such an asset.

It brings a lot of tokens, and you can start without investments by attracting referrals.

In order not to think about it anymore, I decided to choose the safest type of altcoin storage. A hardware wallet is something like a flash drive, only with a small screen and additional functionality.

The device was created specifically for working with cryptocurrencies. I ordered Ledger Nano S directly from the manufacturer (Ledgerwallet) for 58 euros:

The device can store all popular tokens and is compatible with popular wallets. The site has detailed information, but not all of it is translated (you can select a language at the bottom).

I already talked about this purchase in the Ledger Nano S review, so I won’t repeat myself, I’d rather move on to the instructions.

The French developers did a good job because setting up an account does not take much time and is intuitive. By the way, if you buy a similar device from them, Ledger Blue, you will need to perform the same steps:

1. We unpack the package, take out the USB cable from the kit and connect the device to the computer. There are only 2 buttons on it, after the welcome inscription, we are asked to start, to do this we need to hold down both keys:

1. It is not necessary to create a new wallet; you can select your old account. To do this, in the first step of installing Ledger Nano S, they ask if new keys are needed. If yes, then click the button above the checkbox:

1. To confirm any actions with the device, a special PIN code will be requested. You need to come up with it yourself. Enter any 4-6 characters using the top buttons:

1. After entering the PIN code, you need to press two keys again. You will see a message indicating that the Pin has been saved:

1. We will now be asked to enter the PIN we just saved to move on to the next step. Numbers are selected using the buttons (from smallest to largest):

1. Now begins the most important stage - saving secret words. The device generates 24 words in English. This is a special combination for restoring the system in case of loss of the device, if you forgot the PIN, and so on:

1. One word after another is displayed on the display one by one, and they are numbered. It is important to write them down carefully, otherwise there will be serious problems later:

1. The device comes with a special booklet containing 24 fields for these words. It is advisable to write them down somewhere else; make 2-3 copies on a regular piece of paper:

1. That's all, after recording the secret words, a message will appear on the screen stating that the device is ready for use:

Nothing complicated, even without knowledge of English, you can quickly figure it out.

Below you will find other useful instructions on how to restore the gadget and update the firmware. The second is best done immediately after connecting the Wallet Nano S to the computer.

Setting up Ledger Nano S

The device is ready for operation, but it needs to be controlled somehow. To do this, the developers have created an interface in the form of an application for Google Chrome (there are also options for Android and IOS).

It’s worth adding one more instruction for these extensions, because the Russian language is not everywhere and you have to figure out some things:

1. The official website has a special section with applications. There are links to extensions for different cryptocurrencies, and additional utilities are offered:

1. First up is Ledger Wallet Bitcoin & Altcoins. Install it first. After selecting, a page with a download button will open:

1. There are versions of the application for different operating systems to choose from. We want to add an extension to the Chrome browser on PC:

1. Download from the official Google Chrome extension store. When you launch it for the first time, you will see a message asking you to connect and unlock your Ledger Nano S:

1. The corresponding image of the cryptocurrency will appear on the device. You will first need to enter the PIN code, and then press 2 buttons at the same time:

1. The app will see your device and prompt you to select which currency you want to use. In our case, Bitcoin or Bitcoin Cash are available, we choose the first option:

1. Check the first line, after authorization you will be taken to the main interface of the wallet:

It’s also not so complicated, the software for the Nano S is installed and now you can use it in the same way as a regular one (in program format).

How to use Ledger Nano S?

Experienced cryptocurrency users will quickly figure it out, because the interface is very similar to regular wallets. To ensure that you don’t have any problems, we decided to describe the most important points:

1. In your personal account, at the top are the main functions. The Send item is a withdrawal of funds, Receive is a deposit. The total balance and transaction history are also displayed here:

1. To withdraw funds from your wallet, you need to click the Send button. A window will open where you fill in the amount, the recipient's address and select an account. More detailed instructions are presented in my video:

1. When you select a function to receive a transfer, a window also opens. It gives you a choice of account and also displays the address to which cryptocurrency can be sent to you. For convenience, they also offer a QR code. Again, I offer you visual video instructions in Russian:

I’ve been using regular cryptocurrency wallet programs for a long time, so I haven’t had any problems with this account format. In addition, there are not many tools offered; even at random you can figure it out.

How to update the firmware?

Developers are not sitting idly by. They finalize their project, optimize its operation, increase security, and so on. They offer free software updates to everyone who bought the device.

A special Ledger Manager utility has been developed for this; its installation also requires Google Chrome. After installation and startup, connect the Nano S, enter the PIN code and select “Firmware” in the application:

You can find out about the release of new firmware versions through the official website. To avoid unforeseen situations, make a backup copy, i.e. get ready to recover your wallet.

Do not disconnect the device until the welcome window appears; updating the firmware takes a few minutes.

How to restore Ledger Nano S from backup (add your account)?

In order not to lose money along with the device, the developers have made an interesting and quick solution for recovery. You can restore your account at any time; this will require only 24 code words. Here is the detailed guide:

1. We connect Nano S to the computer.
2. Let's study the instructions.
3. We reject the offer to install new keys.
4. Click “Restore configuration.”
5. Next you need to enter the PIN code.
6. Select the number of words to restore.
7. We enter each word.
8. We are waiting for confirmation.

Many other services and cryptocurrency wallets use similar technologies, and transferring accounts from them is easier than ever. Once confirmation is received, you can download apps and use the Nano S as we showed above.

Consider other options, but you definitely won’t find a safer way.

Anyone can buy Ledger Nano S, the cost is not high, and such a wallet is simply irreplaceable for an experienced user.

Who knows how expensive coins will be worth tomorrow, it’s better not to take risks and use the safest storage method than to cry about stolen money later.

I recommend visiting the following pages:

Alexander Markov

Every digital asset holder thinks about where it is safest to store their cryptocurrency and which wallet will be the most convenient and reliable. On the Internet you can find many review articles describing the main advantages and weaknesses of wallets, and they all summarize that hardware gadgets have the highest protection rates. Let's get acquainted with one of them - the multi-currency digital wallet Ledger Nano S.

Equipment and technical characteristics

The Ledger Nano S hardware wallet is a small physical device that looks like a regular flash drive, but has a small screen and two function buttons.

The cost of the gadget is $99.00 excluding VAT. The basic package includes the following components:

• Ledger Nano S device;
• USB cable;
• instructions (including in Russian);
• recovery sheet;
• accessories.

The body of the device has a very presentable appearance; it is made of matte stainless steel and high-quality plastic. No battery required. The wallet size has the following parameters: 98 mm x 18 mm x 9 mm. Weight: 16.2 g.

For protection, the ST31H320 chip is used, the operating chip is STM32F042. The product is compatible with operating systems:

• Windows (7+);
• Mac (10.8+);
• Linux.

Nano S works with certified apps and can be used as a second security key for Google, Github, Dropbox and other compatible services. The Nano S comes with a suite of Chrome apps for managing cryptocurrency wallets.

What currencies does the wallet support?

Ledger Nano S is a multi-currency storage facility that supports 1,100 digital assets (as of February 2019). You can use it to store all ERC-20 tokens. Here is a partial list of cryptocurrencies that you can use the Ledger Nano S for:

• (BTC);
• (BCH);
• Bitcoin Gold (BTG);
• Ethereum (ETH);
• (ETC);
• (LTC);
• Dogecoin (DOGE);
• Zcash (ZEC);
• (XRP);
• Dash (DASH);
• (STRAT);
• Komodo (KMD);
• Ark (ARK);
• Expanse (EXP);
• Ubiq (UBQ);
• Vertcoin (VTC);
• Viacoin (VIA);
• (NEO);
• Stealthcoin (XST);
• (XLM);
• Hcash (HSR);
• Digibyte (DGB);
• (QTUM);
• PivX (PIVX);
• PosW (POSW);

Some of the latest additions were Bitcoin Private (BTCP), ZenCash (ZEN), Woleet, Nano, Nimiq, Zcoin (XZC), Tron (TRX), Proof of Authority (POA), Rootstock (RSK), Kowala (kUSD), VeChain ( VET/VTHO), ICON (ICX), Particl (PART), Ontology (ONT), Wanchain (WAN).

How to buy the original Ledger Nano S

The official website of the wallet is https://www.ledger.com. At the moment, the manufacturing company has resumed delivery to Russia. You can order a wallet from any CIS country, except Belarus.

Applications for the purchase of a wallet are made on the manufacturer’s website directly on the main page or in the “Nano S” section. You simply select the desired Ledger product from the list and fill out the delivery form.

Ledger product prices:

• Nano S - 5499 rubles or $99.00;
• Nano X - 10,699 rubles (sales start in March 2019)
• Ledger Blue—RUB 16,999;
• OTG Kit — 1110 rub.

You can also buy Ledger Nano S in Russia, for example, with delivery to any region at a lower price. This store is the official distributor in Russia.

As an alternative, you can use a high-quality analogue, for example.

Never buy a used wallet. You may lose all your funds, because... the private keys remain with the seller.

Functionality and supported applications

The Ledger Nano S cold wallet has a number of very useful features:

• First of all, it is multi-currency: you can store 25 different crypto coins on this wallet.
• Using a compact multifunctional case with an OLED screen, savings are managed, it displays information on all transactions and confirms them.
• Storage security is implemented through cryptographic encryption methods, which are performed by a built-in, on-board chip, isolated from prying eyes.
• The 2FA function makes the use of your accounts and wallet secure on various third-party resources (exchanges, exchangers).
• The device has integrated access to the exchange: you can make the necessary payments or exchanges directly from your wallet without intermediaries.
• The storage has a backup mode (BIP39/BIP44), which will not allow you to lose control of your savings, even if the device is physically lost.
• The device has a compact, folding case with a USB connection.
• There is support for additional applications (FIDO U2F, GPG, SSH) and compatibility with other versions of storage (Ledger-Wallet-Bitcoin, Ledger-Wallet-Ethereum, Ledger-Wallet-Ripple, Copay, Electrum, Mycelium, My-Ether-Wallet, Green -Bits, BitGo).

How to use the wallet

The Ledger Nano S hardware wallet securely protects your private keys. This is precisely its main and important feature: private keys are always encrypted, stored remotely and never leaked to the network.

Since the device does not have its own operating system, it is not susceptible to harmful viruses. Even if the wallet is stolen, after three attempts to guess the PIN code, the device will be completely blocked, and without a mnemonic phrase, access to it will be impossible to restore.

The design of the wallet is very simple and it is easy and convenient to use:

• If you need to check your balance, you need to connect the Nano S to your PC, launch a special application (which you will install the first time you connect) and enter a PIN code, which will be displayed on the screen of your hardware device.
• If you want to transfer coins to the recipient's wallet, you create the transaction in the application on your PC and confirm it through Nano S.
• If you should receive the funds, the device will generate a new wallet address each time - only hardware wallets provide this level of privacy.

The Ledger Nano S wallet requires a Google Chrome browser (or Chromium if you're on Linux). The device requires confirmation during any authorization attempt, including when opening Chrome Apps.

Connecting and installing the device

When you connect your wallet to your computer for the first time, a welcome message will appear on the device display:

After this, the device will ask you to press both buttons “Press Both buttons to begin”. The following message will ask the user what action to take:

• if you need initial setup, then you need to press the right button;
• if restoration is required, then the left one.

Next step: creating a PIN code. Depending on what firmware you have, the number of digits may vary:

• for firmware 1.1 or 1.2 you will be asked to create a 4-digit code;
• if you are using firmware 1.3 and above, you can assign 4 to 8 digits.

To select the desired number, use the same side buttons: to increase the value, press the right button; to decrease, press the left button. Confirmation occurs by pressing two buttons simultaneously.

After this, the device will generate a secret (mnemonic) phrase consisting of 24 words arranged in a certain order. The words will be displayed one by one, one after another. This key is your property and a backup of your storage, as well as access to funds.

Be very attentive and careful to correctly read and write down each word in the order in which the gadget produces them. If you make even one mistake, your key will be perceived as false, and you will never be able to restore access to the storage if necessary.

Take the recovery sheet and write down:

• word #1, check it twice or thrice;
• word number 2, check it 2 or 3 times, make sure to write it in column number 2;
• word number 3, etc. until exactly 24 words are written.

The mnemonic phrase will be generated and shown only once, only at this initialization stage. Be as focused and attentive as possible. The recovery sheet must be saved in a safe and secure place so that, if necessary, you can restore the wallet using this secret phrase.

When your Nano S displays “Your device is ready,” the wallet is set up and ready to use.

Settings

To set up wallet management, you need to do three more steps:

1. Connect the device to the PC.
2. Enter your PIN code.
3. Install the Ledger Manager app, which is available free for Chrome for Windows, Mac OS, Linux or Chrome OS;

At the same time, only 4 cryptocurrencies (and the 2FA module) can be stored in the Nano S device’s memory. If you are not currently using a particular type, you can safely remove it and install another in its place. Don't worry, all your savings will be completely safe.

In addition to the Chrome apps extension, you can use the following managers to work with cryptocurrencies:

• Bitcoin-Ledger-Wallet – for Bitcoins, Litecoins, Dash coins (uses the Segregated Witness and Legacy code protocol);
• Ethereum-Ledge-Wallet;
• Ripple-Ledger-Wallet;
• for ERC-20 tokens, the wallet must be connected to My-Ether-Wallet.

Firmware update

Updating your Nano S to the latest version improves device security, reduces system vulnerabilities, and improves the user experience. Before upgrading, be sure to make sure your 24 passphrase is available, although most users won't need it.

To update your phone's firmware, you need to follow these steps:

1. Connect your device to your computer and launch the Ledger Manager application.
2. Enter your PIN to unlock your Nano S and sync it with the Manager app. A toolbar should appear.
3. Click the Firmware tab in the top left corner of the Ledger Manager app. Click the green arrow next to the line with the latest version and click “Install”.
4. “Allow Ledger Manager” on your Nano S by pressing the right button. You may receive the error message "The OS update cannot be installed." To continue, uninstall all apps for your Nano S and restart the procedure.
5. Wait until the “Firmware Update” message appears on your Ledger Nano S with several options. Make sure you are installing the latest firmware and the update ID must match the ID on the Ledger Manager screen.
6. Press the right button on the Nano S and enter your PIN.
7. The following message should appear on your Ledger Nano S: “mcu firmware is outdated.” If so, hold down the left button, power off and reboot your Ledger Nano S.
8. Once the process is complete, you will need to enter your PIN again. Verify that the installation was successful.

Possible mistakes

If your Nano S screen is stuck on the "update" function, there may be a network failure. To correct the situation, do the following:

1. In the Chrome browser, go to chrome://extensions.
2. Uninstall Ledger Manager.
3. Go to page.
4. Download the chrome-app.zip file and extract it from the archive.
5. Restart your Chrome browser.
6. In the top right corner of chrome://extensions/, enable developer mode.
7. Next, click “Download unzipped extension.”
8. Download the extracted "chrome-app" folder.
9. After installation, launch the new application.
10. Connect Ledger Nano S.
11. In the newly launched Ledger Manager, go to the “Firmware” section.
12. Follow the instructions on your device to install the update.
13. Once everything is done, uninstall this custom app in Chrome Extensions and deactivate “Developer Mode”.
14. Reinstall the Ledger Manager app on the page.

Wallet recovery

If you have forgotten your PIN, you can recover it. To do this, you will need a secret 24-digit phrase that you wrote down in the recovery sheet:

• enter the wrong PIN code three times;
• restore access using the recovery sheet;
• set a new PIN code.

Before entering a mnemonic phrase, you need to select the number of words (in our case, 24).

Next, using the device buttons, you need to carefully enter words in strict sequence. The wallet has a smart dial function, so by entering a few initial letters, options will be offered from which you can choose the appropriate ones.

The standard procedure for recovering a lost wallet is to import your backup key into application-compatible storage:

• BIP: 39;
• BIP: 32 (Hierarchical deterministic wallets defining a common key derivation method);
• BIP: 44 (indicating how to obtain keys).

Here are examples of several wallets that are compatible with such applications:

• Ledger Nano;
• Ledger HW.1;
• Ledger Blue;
• Mycelium;
• Bither;
• Coinomi;
• MyEtherWallet;
• TREZOR Bridge.

You can view complete recovery instructions for each wallet on the manufacturer’s official website.

Comparison of Ledger Nano S and Trezor

is also a multi-currency hardware wallet that is very popular in Russia. It supports a slightly smaller number of cryptocurrencies than the Ledger Nano S, but this does not diminish its advantages at all (the main and most popular types of altcoins are available in both versions).

The external dimensions of both devices are very compact and convenient, they can easily fit in one hand. The Ledger Nano S has metal inserts that give the device a durable feel, while the Trezor wallet is housed in an all-plastic body.

In terms of installation and management, both options are very convenient. Trezor wallet has a higher value and greater social significance due to the fact that it has been on the market longer. But since price plays an important role in choosing a device, many people choose the Ledger Nano S.

Both products are reliable, convenient and high quality, they use open source applications, and have shown stable and flawless operation from the technical side. You can safely choose the one that you like best from an aesthetic point of view or that is easier to order in your country.

If you are serious about your investment in cryptocurrencies, you need to pay attention to security because there are many different scams, phishing websites, malware, hacks and other tools that people can try to take advantage of and steal your earnings. . Thus, the amount of cryptocurrency stolen in the first half of 2018 is 3 times higher than in the entire 2017 - $1.7 billion.

Phishing is one of the most common methods of fraud. Duplicate sites are cheap to maintain and quite profitable with the right approach. Hackers managed to earn from $30,000 to $2.5 million in a week using phishing. And this is not the limit.

Therefore, so-called hardware wallets have been developed, which are designed to provide the highest level of protection currently available. Today we will look at the most popular hardware wallet on the market - .

A hardware wallet is a device that was created to provide an additional level of security when interacting with cryptocurrencies. Typically you use your unique key to move funds, but the problem is that if your computer has been hacked by malware or infected with a virus, those private keys can be captured and used to steal your currency. With a hardware wallet, private keys are stored on the device and are never transferred to the computer, meaning that even if it gets infected with malware, your private keys will remain safe.

When you set up your wallet, you will be asked to write down a 24-word recovery phrase. These 24 words are generated once during initialization and are the key to the wallet. Knowing them, you can completely restore data on any other Ledger device, so even if you lose your wallet, you can “clone” it to another. Words can be written down on a piece of paper, kept out of reach and NEVER lose it. Otherwise, you may lose access to your wallet.

What is in the box

The device has built-in tamper-proof software that automatically understands whether someone has used it before you. This is very useful to know as there have been cases where people have been selling hardware wallets with recovery phrases already installed.

In the box you will find the following:

• Ledger
• USB cable
• Keychain
• Carrying strap
• Instructions
• Recovery sheet

The Ledger is packaged very nicely in the box - reminiscent of Apple's minimalistic approach to its devices. In the documentation envelope you will find a sheet of paper to write down your recovery words when setting up the device.

How to set up Ledger Nano S

To start setting up your device, you will need to connect it to your computer using a USB cable, after which Ledger will come to life and offer you to install one of the wallet applications. Ledger Live is available for a range of platforms and allows you to view the total balance of all crypto assets in real time. You can keep track of currencies even if your wallet is not connected to your computer.

The first step is to set up a PIN for your device. To do this, you need to press both buttons at once. Confirmation is also carried out by simultaneously pressing two buttons, and individually they allow you to switch between menu items.

Choose a PIN and make sure you remember it or write it down in a safe place. The PIN is used for every operation on the device; without it, nothing will work.

Once the PIN is set, you will need to write down the 24 recovery words in the order the device gives them to you. After you have written down each word, the wallet will ask you to confirm them in accordance with the established order.

Installing applications

Ledger Live makes it easy to install or uninstall cryptocurrency apps on your Ledger wallet. You can customize the app the way you want, and it protects your private keys. The account remains safe even if the application is deleted. Ledger has its own apps for Bitcoin, Ethereum, Ripple and other cryptocurrencies.

Advanced features are available to manage complex transfers, such as setting fees and replacing the transaction with a higher fee (RBF).

Let's look at the Bitcoin application. Once you've downloaded and installed it, launch it - you'll be prompted to enter your wallet PIN. Then you can create a Bitcoin address.

The app itself is very well designed and you will clearly see how to send and receive transactions, create new accounts, change interface settings and so on.

Use with MyEtherWallet

While you can use the Ethereum app that Ledger provides, we recommend taking a look at the Ledger MyEtherWallet integration.

MyEtherWallet is a great wallet that can store Ethereum and all Ethereum ERC-20 tokens. It’s quite easy to use - on the website, select the “Connect to log list” option.

Then a pop-up window will appear where you need to check the box and select the wallet address. Then click "Unlock your wallet" to gain access.

Subsequently, you can send and receive Ethereum, which will be stored in the wallet. Your wallet address will be listed on the right side, and the balance of tokens you have will be displayed at the bottom. Transactions can be confirmed by pressing two keys on the wallet.

The wallet has a security chip that protects and isolates private keys from attacks. It also checks the integrity of the firmware every time it is connected to a computer.

Supported currencies

Ledger has support for a wide variety of cryptocurrencies. At the time of writing this review, their list looks like this:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Bitcoin Gold (BTG)
• Ethereum (ETH)
• Ethereum ERC-20
• Ethereum Classic (ETC)
• Litecoin (LTC)
• Dogecoin (DOGE)
• Zcash (ZEC)
• Ripple (XRP)
• Dash (DASH)
• Stratis (STRAT)
• Komodo (KMD)
• Ark (ARK)
• Expanse (EXP)
• Ubiq (UBQ)
• Vertcoin (VTC)
• Viacoin (VIA)
• Neo (NEO)
• Stealthcoin (XST)
• Stellar (XLM)
• Hcash (HSR)
• Digibyte (DGB)
• Qtum (QTUM)
• PivX (PIVX)

Conclusion

This is a simple and secure hardware crypto wallet that allows you to interact with various cryptocurrencies. In terms of build quality, the Ledger is a little flimsier than the Trezor, but the Ledger has a nice metal body that also protects the screen from scratches and other damage.

Perhaps now this is the most modern device with which your personal data remains completely safe. The Ledger Nano S device is based on the principle of complete isolation of the crypto wallet itself from the computer and smartphone (which can be hacked), which guarantees the safety of storing currency and performing transactions with them. By the way, the wallet has the only official distributor in Russia - .

This hardware wallet costs quite a bit for its set of functions - less than 9,000 rubles (wallets made of genuine leather are often more expensive). The price will become even more pleasant with 10% discount to Ledger Nano S crypto wallet using promo code NANO10 site for readers. The promotional code is valid until September 30, 2018.

Ledger Nano S is a hardware or “cold” wallet for cryptocurrency. It is capable of supporting a large list of currencies, including a set of the most popular tokens - BTC, Ethereum, BCC, Riple, ETC, ZEC, LTC, BTG. The device has an internal chip that stores your individual key in an isolated environment. Ledger Nano S is also interesting because it allows you to simultaneously store different cryptocurrencies on one device.

There is proprietary software that provides emergency account recovery in the event of loss of physical media.

The device is equipped with a small display that will allow you to see every transaction made and control the device. Every time you turn on the Ledger Nano S, it automatically checks the integrity of its firmware to avoid the introduction of spyware.

Naturally, the main task of a crypto wallet is to ensure maximum protection of your crypto capital, preventing hacker attacks and token theft. Such cases are currently not so rare, and if the amounts of your transactions on the crypto market are significant, then you should be concerned about the safety of your assets. The Ledger Nano S is one way to do this.

Characteristics

Unboxing

Ledger Nano S is packaged in a small cardboard box. White color, on the front side there is a life-size print of the device itself. Reminds me of a mobile phone packaging – thick cardboard, nice minimalistic design.

The cardboard is thick, the box is rigid, and in addition, it was originally wrapped in polyethylene, which protects it from abrasions and moisture.

Having opened the lid of the box, we see the wallet itself on a special backing. All included accessories are located underneath. The complete set is as follows:

Ledger Nano S Wallet

USB cable

Management

Two laces and a ring

The set is quite expected, there is even a lanyard around the neck so that you will never part with your wallet. You can also attach it to a bunch of keys as a kind of keychain. If you are engaged in trading on exchanges, then this opportunity will be very useful.

There is also a set of cheat cards designed for recording and storing control phrases. This is convenient, and special thanks to the manufacturer for this.

The downside is that the instructions do not contain a word in Russian, and for some users this may create difficulties.

Appearance

Ledger Nano S looks like a regular flash drive. The outer protective casing is made of stainless steel. The surface is stylized by brushing, this reduces soiling and adds aesthetics.

The body of the device itself is plastic, matte and dense. At the end there is a micro-USB connector, on the side there are two buttons.

The device also has a miniature screen. It is one-color, but it is possible to invert the image and adjust the brightness so that it hurts the eyes. The bright sun will definitely not interfere.

Appearance is probably not too important for such a device; rather, attention should be paid to convenience and size. Ledger Nano S is miniature – 98x18x9 mm, weighing only 16 grams. Due to its appearance, it will not attract unnecessary attention; others will see it as just an ordinary flash drive.

In addition, there is a way to further reduce the weight - if you remove the top metal part, the device itself will weigh just over 6 grams.

Functionality, features

Ledger Nano S has two chips in its arsenal - ST31H320 and STM32F042, which are used to store information in encrypted form. Many cryptographic algorithms are supported. The device certification level is CC EAL5+. This standard means that the system has been tested by all possible mathematical methods using highly specialized standards. Only military security standards are higher - for example, operating systems for the latest generation fighter jets and NASA space shuttles have an EAL6+ rating.

Almost all popular operating systems are supported – Windows 7+, Mac 10.8+ and Linux. Do not forget that the device does not have a built-in battery and can only work when connected to a computer.

When it comes to safety methods, there are a few key points that the owner should know.

All transactions with the wallet can be completed only after entering an 8-digit PIN code

Operations are confirmed by simultaneously pressing buttons, which increases security against malware

A two-factor authentication system, which implies, in addition to a personal code, verification with a 24-word passphrase, which is randomly generated on the device itself. Thus, even if the Ledger Nano S is stolen or lost, an attacker will not be able to access your funds (unless, of course, they get your passphrase)

The original Ledger Live software is required to work with the wallet, and it additionally controls the integrity of your device’s firmware, connecting only to original wallets

If you enter the PIN code incorrectly three times in a row, the device erases all internal memory. Restoration is possible only after entering the control phrase.

If your device is damaged/lost, you can restore access to all your accounts using a passphrase. True, you will have to spend money on buying a new Ledger crypto wallet

First setup of a crypto wallet

If you follow the instructions out of the box, the first thing to do to set up the Ledger Nano S is to go to the official website page. Now it offers to download the original software - the Ledger Live manager. That’s what we’ll do (it’s worth mentioning here that the wallet is capable of working with third-party software - MyCrypto, Electron Cash, with extensions for the Chrome browser - Ledger Manager, Ledger Wallet Bitcoin, Ledger Wallet Ethereum).

So, download the manager, after installation and launch we begin the setup procedure.

The program prompts you to select an action - initialize a new device, restore, use with an already initialized device, and a help menu.

Select initialization. We are asked to select the model of our device, and then shown the procedure for the necessary actions.

Of course, you need to connect the device to your PC. Then press both buttons simultaneously and select “configure as a new device.” All these instructions are duplicated on the screen of our Ledger Nano S.

After entering and confirming the PIN code, you need to confirm the passphrase. It consists of 24 words (!), arranged in a given order. The phrase is generated randomly by the device itself; you just need to remember the correct sequence and repeat it. The resulting phrase must be written down; it will be convenient to do this on the included card from the box. You need to keep it like the apple of your eye, and not lose it - it is unlikely that you will be able to remember the entire sequence in an emergency, and the loss of this phrase will mean the loss of all funds. In addition, it is obvious that if this phrase falls into the hands of attackers, it will also amount to a loss of control over their assets.

If everything is in order, we get to the settings page of the Ledger live manager itself, where you just need to set a separate password for the software, after which we finally go to the manager itself. Under the flying mini-fireworks of animated confetti. Well, we deserve it.

Control

If we consider the recommended Ledger live software, then here we have the ability to simultaneously work up to 18 applications of different tokens on the device. Naturally, a much larger number is supported by the wallet - the official website has a list of 712 cryptocurrencies, some of which are only available when using third-party software. Ledger Live Manager currently offers 70 apps for different tokens that can be installed on your device with one click.

Working with the manager is as follows - after connecting the device to the PC, enter the PIN code, enter the password in Ledger Live, and get into your personal account (Russian language is, unfortunately, not supported here either).

The set of possibilities is as follows - we can see graphs of the history of transactions with assets on different tokens in the “Portfolio” tab. The “Manager” tab displays all available applications; installing them on the device requires just a couple of clicks.

During the process, you only need to specify the account name, and after creation it will appear in the general list on the left.

Naturally, Ledger live also has separate pages for sending and receiving funds from the wallet. To do this, we need to select the desired account and provide all the details.

If you receive funds into your wallet, you will have a QR code to help simplify the procedure.

In this case, all transactions and procedures are displayed on the screen of the device itself and require confirmation by pressing buttons.

Conclusion

As a result, we can say that the Ledger Nano S crypto wallet combines several necessary properties. Firstly, this is a very high level of security and reliability of storing funds according to international standards (the only weak point concerns the 24-word verification phrase, if you lose it, you will lose everything). Secondly, the wallet allows you to perform operations with a large number of popular tokens, and do it simply and conveniently. Thirdly, there is support for third-party software, this will allow you to manage your cold wallet in a way that is more convenient for you.

Among the shortcomings, besides the possibility of losing the control phrase, one can note only the lack of a Russian-language manual.

At the moment, the Ledger Nano S has a relatively low price among competitors, and if you are considering a hardware wallet to keep your assets safe, then this is a very good option.

Advantages

Miniature, light weight, external similarity to a flash drive High standard of encryption security Isolated storage of private keys in the device’s memory Availability of two-factor authentication Full restoration of access in case of loss/theft of the device Support for a large number of crypto-assets Simple and convenient software – Ledger Live

Flaws

Lost card with passphrase = loss of all funds No manual in Russian

The hardware wallet market today is at the beginning of its development. There will always be a demand for such wallets, because they provide maximum reliability for storing coins.

Ledger Nano S hardware wallet

One of the best hardware wallets is Ledger Nano S. It allows you to securely store and send Bitcoin, Ethereum and many altcoins. The main advantages of the Ledger Nano S hardware wallet are: ease of use, the ability to quickly make a transaction and highest degree of security.

The Ledger Wallet company was founded in France in 2014. Immediately after its creation and until now, Ledger is a very popular and in-demand product. The company managed to become the world's largest manufacturer and almost a market monopolist.

And although competitors such as TREZOR have been on the market longer, it is Ledger that most users associate with hardware solutions for storing cryptocurrency. This review will be entirely dedicated to the Ledger Nano S hardware wallet. In it, we will look at all aspects of its use: security, convenience and weaknesses.

Ledger Nano S reviews

If you objectively study user reviews about this hardware wallet, you can understand that the majority are completely satisfied with the device. Many call the Ledger Nano S a “restful sleep aid.” Especially those who store significant amounts of cryptocurrency in their wallet. In general, the community believes that the device works great and copes with its tasks completely. The Ledger Nano S is believed to be the safest way to store cryptocurrency to date.

The Ledger Nano S hardware wallet is capable of storing cryptocurrency offline and sending transactions even from computers infected with a virus. It stores private keys completely securely and is simply impossible to hack.

However, such a wallet also has disadvantages. First of all, they are related to the fact that the funds are stored securely (after all, this is a real cold storage wallet) and you will not get quick access to your coins. At a minimum, you will need to connect your Ledger Nano S to your computer and run special software.

The Ledger Nano S is definitely not suitable for traders who constantly need access to cryptocurrency balances.

Another disadvantage, according to user reviews, is the small amount of memory. The fact is that in order for a wallet to start supporting a particular cryptocurrency, you need to install a special application on it. Each coin has its own application. This means that if you want your Ledger Nano S to support a new token, you will have to make room for it in your wallet. It will not support all coins at once.

Ledger Nano S supports more than 30 cryptocurrencies, but can simultaneously have from 5 to 18 different cryptocurrency wallets.

BUT! If you use Bitcoin as a store of value (gold), then the Ledger Nano S wallet will be an excellent and safest safe where you will store your digital gold.

Ledger Nano S. Interface and setup

The wallet's user interface is designed to minimize learning manuals and instructions. Everything should be intuitive.

In general, the operating principle of the Ledger Nano S is not very different from other hardware wallets. When you launch your Ledger for the first time, you will be required to provide a PIN. In addition, the device will generate a mnemonic phrase consisting of 24 words, which you must write down on paper. This password will be needed to recover all data stored on the device.

The 24-word mnemonic phrase is generated directly in the Ledger Nano S wallet, and not in a computer application. This eliminates the possibility of any leakage, even if your computer is compromised and contains malicious software, such as a keylogger.

The data is stored in the device's memory on a protected and encrypted partition. It is believed that the Ledger Nano S is a fundamentally unhackable device. Most of the wallet software is open source and has its own branch on GitHub.

Initial setup will take no more than three minutes. Two of which you will write down your mnemonic phrase (24 words). After setting up passwords, you will need to download applications to support certain cryptocurrencies.

To work with Ledger, there is a very convenient extension for Crome. Its main function is to access the account, send transactions from the hardware wallet, generate an address to receive funds. In addition, the extension has all sorts of convenient features, such as cryptocurrency rates on exchanges.

One of Ledger's strong features is its integration with many software wallets. For example, it supports: MyEtherWallet, NEO Wallet, Stellar, Electrum, Nanowallet, Tronscan, MyWallet, ICONex Wallet, WanWallet and many, many others. This list is constantly expanding, because developers are actively developing the product.

Ledger currently supports more than 30 top cryptocurrencies and ERC-20 tokens. The current list of supported cryptocurrencies can be seen on the official website of the project.

Security Ledger Nano S

Once again, separately about the security of the device. The Ledger Nano S hardware wallet is designed in such a way that you enter all the data on it, and not on your computer. It has its own display and buttons. Thus, when connecting to a computer, any phishing is completely excluded.

Private keys are stored in the device itself and are not transmitted either to the Internet or even to a computer. All you have to do is store your PIN and passphrase in a safe place.

Characteristics

• Dimensions - 98x18x9 mm.​​​​​
• Weight - 16.2 g.
• Connector - USB type Micro-B.
• Chips - ST31H320 (protected) + STM32F042.
• Certification level - CC EAL5+.
• Compatibility - Windows, OS X, Linux.
• Material - Brushed stainless steel and plastic.

Conclusion

The main disadvantage of hardware wallets is the difficulty of using them for fast transactions. To operate the wallet you need at least a computer. If you need mobility and make a large number of transactions every day, then Ledger probably won't suit you. However, it should be understood that such a cold storage wallet is not intended for trading or a large number of transactions. Its main feature is to guarantee the safety of your cryptocurrency in complete safety and it copes with this function perfectly.