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Ledger Nano S Plus Review 2024: Complete Guide
Swen Keller
- URL: https://www.ledger.com
- Software Compatible: Yes (Ledger Live app)
- Price: $79
- Staking Rewards: Yes
- Platform App: Desktop, Web, Browser
- NFTs Storage: Yes
- No. of Assets Supported: 5500+
- Type of Wallet: Hardware wallet
Ledger Nano S Plus Review: Our Opinion
The Ledger Nano S Plus is a pocket-sized hardware wallet that’s best for new crypto investors looking to gain complete ownership of their cryptocurrencies.
Ledger Nano S Plus stands out primarily for its ease of use and a large array of cryptocurrencies. It also gets positive points for its sleek design and portability.
That said, based on our review, Ledger Nano S disappoints in features offered as it offers limited staking options, lacks Bluetooth support and isn’t compatible with iOS devices. It is also more expensive than the original Nano S hardware wallet.
The Ledger Nano S Plus offers a ton of its stated features via third-party apps, which brings questions of security. Simply put, the Ledger Nano S Plus isn’t fully air-gapped, which is a function most advanced crypto investors would be on the lookout for.
An Overview of Ledger
Launched in 2014, Ledger the company behind the Ledger Nano S Plus was founded by 8 team members identified as experts in crypto assets, entrepreneurship, and embedded security. They united around the concept of building secure solutions for blockchain apps.
Currently, the Ledger company and its subsidiaries have more than 800 employees in various nations of the world including Singapore, France (Paris), and the United States (New York).
Since its launch, Ledger has sold over 5,000,000 Ledger wallets, has more than 100 resellers across the globe, and has clients in 200+ nations of the world.
Ledger’s initial products were 2 hardware wallets: the Ledger Nano S and the touchscreen Ledger Blue. Both wallets were capable of handling 23 cryptocurrencies directly and a lot more via third-party apps.
Currently, the offered crypto hardware wallets include the Ledger Nano X, Ledger Nano S Plus, and Ledger Stax.
Ledger also offers enterprise solutions via a completely customizable infrastructure solution for securing crypto for hedge funds, high-net-worth individuals, and banks. The company also has collaborations with the big players in various industries running blockchain projects.
Beyond creating wallets, Ledger also developed a custom operating system (OS) known as BOLOS, which is integrated either into a secure chip on Ledger wallets or into any Hardware Security Module (HSM) for enterprise-level solutions.
Ledger is currently the only brand in the market to offer BOLOS technology.
That said, the mission of the company is to secure financial assets such as cryptocurrencies and digital identities via its Ledger devices.
Pros
- Ledger Nano S Plus is easy to use
- Budget-friendly
- Users can manage crypto on the go
Cons
- Poor usability features
- Not air-gapped
- Lacks Bluetooth support
Ledger Nano S Plus: What Is It?
The Ledger Nano S Plus is a pocket-sized (a USB stick) hardware wallet that enables users to protect their crypto, NFTs, and tokens by storing their private keys offline (not your keys, not your crypto) on the hardware wallet. This provides complete ownership of held cryptocurrencies as the “not your keys, not your coins” statement implies.
The Ledger Nano S Plus allows you to manage more than 5,500 coins and tokens including Ethereum, Ripple, and Bitcoin. You can also install up to 100 crypto apps for increased crypto features and access. ,
To manage your crypto visually, Ledger Nano S Plus is compatible with the Ledger Live mobile app which you can use to send, receive, and sign transactions including NFT transactions.
The enhanced Ledger Nano S Plus boasts an expanded screen compared to the original Nano S, providing a more effortless experience for navigating and verifying transactions.
In general, the Ledger Nano S Plus is the original Ledger Nano S with DeFi and NFT-friendly features.
Ledger Nano S plus Review: Price
The Ledger Nano S Plus goes for $79 if you’re getting just the hardware wallet and no accessories.
However, if you’re getting other accessories such as the crypto steel capsule solo, or the Ledger backup pouch the cost rises above $100.
Concerning price comparison with other hardware wallets such as the Trezor Model One, the Ledger Nano S Plus is within the average price of such devices. It is also considered a budget-friendly option, though it is more expensive than the original Ledger Nano S.
Why Use a Cold Storage Wallet?
A cold wallet is a type of crypto wallet that processes transactions and stores users’ private keys offline, usually on a hardware device.
Hardware wallets are a type of cold wallet. Cold wallets are more secure than hot wallets because of their isolation from the internet.
The storage of private keys and the validation of transactions offline protect users’ crypto from theft and other forms of malicious attacks.
This is not possible with hot wallets as even the most secure hot wallets are vulnerable and easily susceptible to malicious attacks and phishing scams.
Asides from the security provided by cold wallets, cold wallets are also self-custodial. This means that the user is in full possession and 100% responsible for the security of their private keys.
The private keys are only known and held by the wallet owner. This protects the user from any form of theft or scam attacks. With cold wallets, even if the cold wallet is damaged or lost or the parent company ceases to exist, you will still be able to access your assets on any hardware wallet device using your private keys and recovery phrase.
This is not the case for hot wallets. In most cases, the collapse of the crypto exchange or the provider of the hot storage solution results in the loss of assets.
While cold wallets may not offer the convenience you require especially if you engage in frequent crypto trading, they offer unrivalled security.
If you intend to store large amounts of cryptocurrencies or hold crypto for a long time, cold storage wallets are the best. Active traders can also use a combination of both hot and cold wallets for convenience and security.
Supported Cryptocurrencies on Ledger Nano S Plus
The Ledger Nano S plus hardware wallet supports over 5500+ cryptocurrencies.
Supported crypto assets include Bitcoin, Ethereum, XRP, ZCash, Bitcoin Cash, Dogecoin, Monero, Binance Coin, Dash, EOS, Polkadot, Tezos, Shiba Inu, Chainlink, Compound, Cardano, Tron, Leo Token, Huobi Token, Ethereum Classic, Nem, Hedge Trade, Neo, USD Coin, Cosmos, Axie Infinity, Iota, Cronos, Ontology, ApeCoin, Filecoin, Elrond, MakerDAO, Internet Computer, VeChain, Curve DAO Token, FTX token, BASIC Attention Token, etc.
Does the Ledger Nano S Plus Support NFTs?
Yes, the Ledger Nano S Plus supports NFTs.
Ledger users have always been able to manage their NFTs via Ledger’s third-party NFT marketplace solutions. However, with the Ledger Nano S Plus, users can view and send NFTs on Ledger Live as well as sign NFT transactions.
With the Ledger Nano S Plus, you can send and receive NFTs, visualize your collections, and own the private keys to your digital assets.
How to Set up Ledger Nano S Plus
Before we get started in how to set up your Ledger wallet here’s what you’ll need for the process:
- Ledger Nano S Plus with the micro USB-C cable
- Ledger Live app downloaded and installed on your PC
- A desktop computer with the following operating systems: macOS Monterey, windows 10 or 11, macOS Ventura,macOS Big Sur, and Ubuntu LTS 20.04 or 22.04 (64-bit versions only, except ARM processors)
- Mobile users will require the latest operating system for Android
That said, to begin the process you can choose to set up your Ledger wallet as a new storage device or restore your device.
To set up your Ledger Nano S Plus connect your Ledger Nano S Plus to your PC using the supplied USB cable.
You should see the following message: “Welcome to Ledger Nano S Plus. Press the right button to continue.”
If your Ledger device requests a PIN immediately contact Ledger support as it may not be safe to keep using the hardware wallet.
Next, hit the right button on the Ledger hardware wallet to move through on-screen instructions.
Press both buttons to choose the option to Set up a new device.
Your next step involves choosing your PIN code. To do so, press both buttons when Choose PIN with 4 to 8 digits is shown on the device. Hold the right or left button to pick the first digit of your PIN.
Press both buttons to input a number.
Next, repeat the above process till you have inputted 4 to 8 numbers.
Hit the checkmark and then hold both buttons down to confirm your PIN. If you want to erase a number use the backspace icon.
Lastly, for PIN selection, confirm your code by entering it again.
That said, it’s important to note some important information about your PIN. First, the PIN is what is used to unlock your Ledger hardware wallet. The optimal choice for a PIN number is 8 digits. And do not use a device supplied with a recovery phrase or PIN.
The next step to setting up your hardware wallet is copying a 24-word recovery phrase.
Your recovery phrase will be shown on your Ledger Nano S Plus screen word by word after setting up your PIN. The recovery seed phrase is the backup of your private keys and it will be shown just once.
To copy the recovery phrase take the blank sheet supplied in the box.
Next, press both buttons immediately. Write down your recovery phrase as shown on your Ledger device.
Hold down the right button to move through the onscreen instructions. Then press both buttons to select.
Pen down the first word displayed on the provided recovery sheet. Then verify that you have copied it in position 1.
Press the right button again to move to the next word. Then write down with 2. Pen it down in position 2 on the recovery sheet and verify that you copied it correctly.
Iterate the process till the 24th word is written down in the 24th position.
Hold down both buttons to confirm your recovery phrase.
Choose the requested word by navigating using the left or right button. Then validate the word by holding both buttons. Iterate this step for each word.
That’s it! Your recovery seed phrase is set. Place it in a secure place.
Hold down the right button to navigate through the instructions displayed. To continue, press both buttons.
The hardware wallet will show “Processing” and then “Your device is now ready” after you’ve completed the process.
Press both buttons for 3 seconds to open the Control Center. Your Control Center is where you can add the settings and apps on your hardware wallet.
That’s it! You’ve successfully set up your hardware wallet and can now install apps and add accounts to Ledger Live.
Ledger Nano S Plus Review: Security
The Ledger Nano S plus hardware wallet offers industry-standard security features including EAL5+ certified Secure Element chips and tamper-resistant Common Criteria (CC). Ledger is also the only hardware wallet that uses a custom operating system in combination with a Secure Element.
Ledger integrates native protection against tampering using cryptographic attestation. This helps you to identify if your hardware wallet was tampered with in transit.
Ledger users can use attestation to verify the authenticity of the hardware wallets delivered to them.
The attestation is a cryptographic challenge presented to the device whenever it is connected to a smartphone or computer.
Here is how the attestation works, the Ledger wallet chrome application sends a challenge in the form of a random value to the Nano device.
The Ledger Nano device is required to sign the random value plus the firmware version using the embedded private key shared by some batches.
The public key can recognize the public key and verify the signature.
This means that if the wallet device was replaced with a replica running a rogue firmware, the device will be rejected as non-genuine because it will fail the attestation. So a malicious third party can’t replace the firmware and make the device pads attestation without the Ledger private key.
The keys Ledger uses for the attestation are distributed in batches and are not unique enough to be able to contain the damage if a key is compromised.
This means that the attestation process does not affect the privacy of the user and the wallet device.
All API calls on the Ledger Nano S plus device are also protected with an attestation token.
This token is generated during the initial check. It is impossible to query the Ledger server without a valid token. This protects Ledger against unfair use of its blockchain explorer.
Ledger Nano S Plus uses Ledger’s custom operating system BOLOS. While the Nano S Plus wallets support over 100 applications, BOLOS isolates each of these applications from the others.
The applications do not interact directly with each other.
All communications go directly to BOLOS. There is no exception to this even for malicious developers or users.
The isolation of applications is important because it protects other applications if one is compromised, this ensures that all other applications are kept secure.
BOLOS also keeps users’ 24-word recovery key isolated from the applications.
This ensures the privacy of private keys and other private data at all times.
BOLOS uses the Root of Trust system to verify the genuineness mechanism of each Ledger wallet device when connecting it to Ledger Live and Ledger Manager.
It also requires physical confirmation for each cryptocurrency transaction on the device.
The user is required to press the left button to reject a transaction or the right button to confirm a transaction.
It also displays the accurate details of the transaction on the display screen of the wallet device.
This step is important because the details displayed on your computer screen can be manipulated by hackers but this can not happen on your wallet screen.
Another important security feature of the Ledger Nano S plus hardware wallet is the Secure Element.
The Secure Element is a highly advanced chip that shields the wallet from several types of attacks. Ledger uses the Secure Element to generate and store private keys for users’ cryptocurrencies.
This keeps the private keys from any device connected to the internet.
The Secure Element used for Ledger Nano devices is commonly used for payment systems, passports, and credit cards.
This is not the same as the chip available in most hardware wallets.
The Secure Element is like a type of Smart Card and it provides an extra layer of security missing in the chip available in most hardware wallets. Asides from concealing and protecting users’ data, the Secure Element also has several countermeasures to withstand sophisticated and costly attacks.
This makes the Ledger Nano S plus hardware resistant to hack and tamper-proof.
Without a Secure Element, sensitive information such as private keys and PIN codes will be easily extracted from the wallet.
Like other Ledger wallets, the Nano S Plus is protected with a PIN code. You are required to create a PIN when setting up a wallet device. The PIN is needed to access the wallet. The PIN code is user generated, this means you created it yourself and will be the only one to know it.
Access to the Nano S plus wallet is impossible without the PIN code, this means that if the hardware wallet falls into the wrong hands, the third party will not be able to access the private keys to the crypto assets in the wallet.
If the wrong PIN code is inputted 3 times, the wallet will perform a factory reset and erase all the data on the wallet.
As already stated, the Ledger Nano S plus wallet has a trusted display screen that cannot be hacked or tampered with.
The display screen allows you to check the accuracy of every transaction detail before confirming the transaction. This eliminates blind signing or the risks associated with having to trust that the details displayed on your computer have not been tampered with.
Aside from all these security features in place, Ledger also has an internal security evaluation team known as Ledger Donjon. Ledger Donjon is made up of a team of world-class white-hat hackers and security experts with extensive backgrounds in the security and smartcard industries.
Ledger Donjon is responsible for Ledger’s internal and external security assessment. They work closely with the hardware and firmware development team to ensure that Ledger’s security is always at its best. They are continuously on the lookout for any vulnerabilities in Ledger products and Ledger’s providers’ products. When a vulnerability is detected the team evaluates and implements countermeasures and hardening techniques.
Ledger users are also protected against loss.
If you lose or damage your Ledger Nano S plus hardware wallet, you can still recover access to your crypto.
With your recovery phrase, you will be able to access, manage and retrieve your crypto assets.
All you need to do is get a new Nano S Plus Wallet and restore your accounts using your recovery phrase.
Different Ledger Hardware Wallet Models Comparison
Ledger offers 3 primary hardware wallets: the Ledger Nano S Plus, Ledger Stax, and the Ledger Nano X.
Ledger Nano S Plus
- NFTs and 5,500+ coins supported: Yes
- Compatible with Ledger Live app: Yes
- Bluetooth mobile connection: No
- Customizable lock screen: No
- Curved E Ink® touch screen: No
- Wireless charging: No
- Embedded magnets: No
- Third-party wallets: Yes (50+)
- Secure Element chip: Yes
- Certified Secure Element: Yes (CC EAL5+)
- Mobile App: Android
- Price: $79
- Device Size: 62.39mm x 17.40mm x 8.24mm; 21 grams
Ledger Nano X
- NFTs and 5,500+ coins supported: Yes
- Compatible with Ledger Live app: Yes
- Bluetooth mobile connection: Yes
- Customizable lock screen: No
- Curved E Ink® touch screen: No
- Wireless charging: No
- Embedded magnets: No
- Third-party wallets: Yes (50+)
- Secure Element chip: Yes
- Certified Secure Element: Yes (CC EAL5+)
- Mobile App: iOS and Android
- Price: $149
- Device Size: 72mm x 18.6mm x 11.75mm; 34 grams
Ledger Stax
- NFTs and 5,500+ coins supported: Yes
- Compatible with Ledger Live app: Yes
- Bluetooth mobile connection: Yes
- Customizable lock screen: No
- Curved E Ink® touch screen: Yes
- Wireless charging: Yes
- Embedded magnets: Yes
- Third-party wallets: Yes (50+)
- Secure Element chip: Yes
- Certified Secure Element: Yes (CC EAL5+)
- Mobile App: Android and iOS
- Price: $279
- Device Size: 85 x 54 x 6mm
Opening an Account with Ledger Nano S Plus
Before you open an account you need to be certain which digital assets are supported in your version of Ledger Live and those that need an external crypto wallet (so ensure that the required wallet app is installed).
To open an account on the Ledger Live, launch the desktop Ledger Live app and on the left panel, hit Accounts. If your Accounts button is greyed out, tell on Portfolio.
Next, click Add Account.
Click the drop-down list to select the digital asset of the account to include. Tap Continue.
If you are unable to find a crypto asset then it is not supported on Ledger Live.
Connect your hardware wallet and unlock it and open the app of the chosen crypto asset. Click Continue.
Ledger Live will search for exciting accounts and display them one by one.
Click Continue and your account will be added to the Portfolio.
To add more accounts click Add more.
Ledger App: Ledger Live
The Ledger Live software is the crypto dashboard and the app for all Ledger hardware wallets.
Ledger Live is a management app that comes with all Ledger wallets.
It has a clear and intuitive interface and it is available on both mobile and desktop.
The Ledger Live mobile app supports over 1800 cryptocurrencies and allows you to process transactions and manage all your digital assets and NFT portfolio on the go. With Ledger Live, you can access 15 Web3 apps including Lido, Paraswap, 1inch, and Zerion.
Users can also securely access DeFi services like staking, swapping, lending, and borrowing all within Ledger Live.
Ledger Live has an app catalog with the Discover tab which features a searchable list of Web3 applications integrated to work with every Ledger hardware wallet.
The app catalog allows users to view their transaction details with the Web3 platforms on the Trusted Display of the Ledger wallet.
Ledger Live also supports the management of NFTs. With Ledger Live you can visualize, secure and transact with your NFTs from within the secure Ledger ecosystem.
In addition to all these amazing features, Ledger has partnered with Binance to enable users with verified Binance accounts to buy more than 80 cryptocurrencies in the Ledger Live desktop app.
Binance is also available in the Discover section of Ledger Live, this allows users to buy crypto assets using their bank cards while enjoying the low fees offered by Binance.
Ledger Live stores users’ data locally, it does not store the information on a centralized server. Also, the app only synchronizes the user’s balance and operation history with the blockchain. This allows users to install and use Ledger Live simultaneously on multiple devices.
Since your data is stored locally, each installation of Ledger Live is independent. Your password, accounts, and settings are stored locally on your mobile device or computer.
To use Ledger Live on another device, you will need to complete the setup, add your accounts and choose a password for each device.
To set up Ledger Live on another device, do the following:
- Download and install the latest version of Ledger Live
- Scroll to the Menu and connect your Nano S plus device by clicking “Connect”
- Finally, add your accounts.
- Once you have added your accounts, Ledger Live will be ready to use on the device.
Customer Satisfaction
Ledger offers customer service via email through the Help Center. To contact the support team, you need to submit a support ticket by clicking on the “Contact Us” icon at the right bottom corner of the page.
For security reasons, Ledger does not provide phone support.
There is a support center as well as an academy where users can get all the information needed on Ledger hardware wallets.
Users can also get the latest information on Ledger via their various social media handles on Instagram, Twitter, Facebook, TikTok, Reddit, and YouTube.
Ledger offers satisfactory customer service.
In terms of the security of the Ledger Nano S plus hardware wallet, users have confirmed that it is one of the best hardware wallets in the market.
Where can I buy a Ledger Nano S Plus Wallet?
You can buy the Nano S Plus on the official Ledger website.
Alternatives to Ledger Nano S Plus?
There are tons of alternatives to your Nano S Plus. However, the popular options include the Ledger Nano X and Trezor One. When compared to the Ledger Nano S Plus both do better than the Nano S Plus in features offered.
That said, the Nano S Plus is one of the cheapest options for pocket-sized hardware wallets.
Final Thoughts
The Ledger Nano S Plus is arguably one of the easiest-to-use hardware wallets in the market that offers portability and a budget-friendly price. However, the Nano S Plus does not shine in usability functions as it does not offer wireless charging, touchscreen features, etc. which most recent hardware wallets offer.
FAQ
Most frequent questions and answers
Yes, the Nano S Plus is worth it. The hardware wallet supports both NFTs and a large array of crypto assets at a low cost. It is also easy to use.
The Ledger Nano S Plus can hold more than 100 apps simultaneously.
Yes the Nano S Plus was developed to be an improvement of the Nano S and its features reflect that. For instance, the Nano S Plus supports over 5,500 cryptocurrencies while the Nano S supports just 2,500. The Nano S can also only hold just 5 applications while the Nano S Plus can hold up to 100.
The Nano S Plus allows users to hold the private keys of their cryptocurrencies offline as well as manage their digital assets via the Ledger Live and third-party wallets.
We always try to provide the most accurate information available, and make sure our team follow through.
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