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Ledger Singapore Review 2023: What it is and Where to buy it
Luis Clark
- URL: https://www.ledger.com/
- Headquarter: Paris, France
- Year Founded: 2014
- Platform App: Desktop/Mobile
- No. of Cryptos: 10,000+
- Fiats Available: USD/EUR
- Withdraw Method: Crypto
- Payment Method: Credit and Debit Card
Ledger Singapore Review: Our Opinion
If you’re considering the use of a cold wallet to distance yourself from hackers, Ledger is an excellent all-around choice. Despite its low price, it’s the lack of extra features that makes Ledger the most secure hardware wallet option. If you already have several cryptocoins, this device is a good way to protect your digital money even better.
An Overview of Ledger
The Ledger wallet is a hardware cryptocurrency wallet that allows you to store your coins safely and to transmit and receive a variety of cryptocurrencies.
Ledger is the global platform for digital assets and Web3. Over 15% of the world’s cryptocurrencies are secured through Ledger Nanos.
Based out of Paris and Vierzon, with offices in London, New York, and Singapore, Ledger has a team of more than 500. The Ledger wallet is so popular that it has sold over one million units.
Pros
- Certified secure chip
- Up to 50+ compatible external wallets
- Certified security measures
- Supports more than 5,500 assets
- DeFi compatibility
- Supports mobile devices (both Android and iOS)
- Recovery phrase backup
- Bluetooth support
- Features the software Ledger Live for crypto activities
Cons
- Firmware updates for the Nano X require connectivity to your computer via USB
- Wallet access is lost if the recovery seed phrase is missing
- Irreplaceable battery
- Trading fees are dependent on the best crypto exchanges chosen per trade
Ledger: What Is It?
Ledger wallets are Bitcoin hardware wallets created by the company Ledger. The company’s headquarters are in San Francisco, California. In 2014, eight specialists with experience in embedded security, cryptocurrency, and entrepreneurship founded Ledger. The company’s mission is to develop safe blockchain applications.
Ledger’s hardware wallets are multicurrency wallets that store private keys for cryptocurrencies offline. Cryptographic private keys are required to conduct transactions with cryptocurrency. However, because these keys are typically maintained online, they are vulnerable to theft and hacking. Hot wallets (internet wallets), mobile wallets (wallets for cell phones), and paper wallets are examples of this (stored on paper).
The hardware wallets from Ledger are device-based, which means they keep private keys on storage components such as USB drives, making it harder for hackers to obtain the keys from an online location. Ledger offers two hardware wallets: the Ledger Nano S and the Ledger Nano X.
Both USB storage wallets, the wallets offer a multitude of capabilities. They empower users to seamlessly engage in various activities, including the transfer of Bitcoin via blockchains and the execution of third-party applications on the device. Moreover, these wallets facilitate universal two-factor authentication on renowned platforms like Google and Dropbox, further enhancing their versatility. Additionally, all Ledger products boast a Secure Element and an exclusive operating system, providing robust protection for users’ valuable digital assets.
These wallets also employ a 24-word backup recovery phrase, which can be used to gain access to a user’s cryptocurrency holdings if the private key’s device is lost or stolen. The 24-word phrase can be carved into steel in a Billfodl, a machine designed to keep your seeds and keys forever in a physical form, for extra care.
In 2016, Ledger introduced the Ledger Nano S. This wallet has been called the original hardware wallet. The Ledger Nano S hardware cryptocurrency wallet offers high-level security through a secure chip and a proprietary operating system. It allows investors access to their private keys and is backed by the industry’s biggest name. On the Ledger Nano S, investors can store over 1,100 coins and tokens, with 23 cryptocurrencies supported directly by Ledger and the remainder supported by third-party applications. Nano S is relatively easy to get started with. Users should download Ledger Live to their computer or mobile device and choose the option to set up a new device.
In 2019, the Ledger Nano X was released. It can also be used to secure and handle assets and buy cryptocurrency. The Nano X, like the Ledger Nano S, includes a certified secure chip, allowing users to store more applications (up to 100). The Ledger Nano X also offers a Bluetooth connection, allowing you to manage your cryptocurrency assets from any location. The additional memory and higher quality screen of the Ledger Nano X help expand its functionality considerably relative to older models.
Supported Cryptocurrencies
Far over 10,000 different cryptocurrencies are currently available for purchase and sale, with more being introduced daily. Unfortunately, no wallet in the world can hold all of them, and some wallets can only hold one type of coin.
Fortunately, the Ledger wallet is a multi-currency wallet, which means it can hold an extensive array of coins.
The ledger can hold up to 26 coins and over 1,500 tokens. This includes well-known coins like Bitcoin, Ethereum, XRP, Litecoin, and Bitcoin Cash, as well as less well-known coins like Ubiq, Hcash, and Stratis. You can also link your Ledger wallets, such as MEW and NEON, so that you can store all Ethereum and NEO tokens on your Ledger too.
Who Should Use Ledger?
Ledger is ideal for those who own cryptocurrencies and want to secure their assets from being attacked while keeping their cryptocurrency transactions unaffected. If you have a lot of cryptocurrency assets, the Ledger is one of the most cost-effective and simple solutions to secure them. Furthermore, cryptocurrency investors who own various coins can store all of their assets in a single hardware wallet.
The Ledger’s ease of use makes it ideal for people who frequently transact with cryptocurrencies. The Ledger’s unbreakable security allows you to plug your wallet into any computer, regardless of whether or not that computer has been compromised.
Why use a Cold Storage Wallet?
A cold storage wallet is a wallet for storing Bitcoins that is not linked to the internet. A cold storage wallet attempts to protect your Bitcoin wallet against hackers, cyber attacks, and other harmful groups. The private key connected with the wallet is the initial prerequisite for any hacker to break a wallet. A private key is what allows cryptocurrency to be sent through a wallet.
Keeping your cryptocurrency on the exchange where you acquired it is perhaps the most convenient option for investors. However, offline cryptocurrency wallets add extra security to people who want to own their private keys. Using a wallet is a little more complicated, but it’s worth it.
Hacking is much more difficult with a cold wallet, but it is still possible. If you buy your hardware wallet second-hand, be sure it’s from a manufacturer, as it could have been altered in a way that makes it vulnerable.
Cold storage may be a better option if you plan to HODL cryptocurrencies for a long time. However, if you want to purchase and sell cryptocurrency, or if you’re not entirely sold on cryptocurrencies and think you’ll want to cash out your holdings after a while, a hot wallet — or even leaving it on an exchange — may be sufficient.
Different Models Comparison - Full Review
Over 15% of the world’s crypto assets are secured through Ledger Nano S. Ledger Nano S, and Nano X are crypto hardware wallets that offer cold, offline storage. The Nano S is designed for people who only wish to hold a small amount of cryptocurrency, while the Ledger Nano X is suited for active investors with a diverse crypto portfolio.
Although the Ledger Nano X costs twice as much as the Ledger Nano S, it has a sleeker design and can accommodate up to 100 crypto software apps compared to the Ledger Nano S’s three. Furthermore, the Ledger Nano X is compatible with Android, iOS, and desktop systems, whilst the Ledger Nano S is not compatible with iPhones. The Ledger Nano S is comparatively less expensive than several other hardware wallets, making it an excellent low-cost, highly secure option.
The Ledger Nano X is an attractive, highly secure, easy-to-use hardware crypto wallet for storing your cryptocurrency. Unlike other hardware wallets on the market, the accompanying app also allows you to purchase crypto directly, exchange tokens for one another, and earn interest on your holdings via the lend function.
Nano X has a higher level of security than software wallets alone. This is because they introduce a physical security element to making any cryptocurrency transaction, protecting users from a wide range of potential attacks.
Ledger Nano S vs. Nano X: Features
Ledger Nano X and the Ledger Nano are USB storage wallets that allow users to store cryptocurrency offline safely. They’re one of the most popular Bitcoin wallets, with millions of users. Both are compatible with the Ledger Live mobile app, allowing investors to check their cryptocurrency balances and conduct online transactions. While Ledger Nano S users, can only use Ledger Live on a Windows, Linux, Mac, or Android 7+ device, Nano X is compatible with desktops, iOS, and Android mobile devices.
The Nano X has a Bluetooth connection that easily connects to your mobile phone, or you may use a USB cable (USB-C to USB-A) connector that comes with it. To use the Ledger Nano S with your mobile device or computer, you’ll need to connect via USB cable.
In addition, the Ledger Nano X has a bigger 100mAh battery, allowing several hours of continuous use without a recharge. The battery, however, is only designed to last five years and is not replaceable. Finally, while neither hardware wallet features a touchscreen, the Nano X display has twice as many pixels (128 x 64), making it easier to read.
Ledger Nano S vs. Ledger Nano X: Currencies
Both wallets provide support for a staggering array of over 1,800 altcoins, encompassing renowned cryptocurrencies such as Bitcoin (BTC), Ripple (XRP), Chainlink (LINK), Litecoin (LTC), Ethereum (ETH), Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), and Polkadot (DOT).
The following coins are also supported by Nano S and X:
- ERC20
- ERC721
- TRC10
- TRC20
- BEP2
- NEP5
- SOL
Investors may manage over 1,800 tokens and coins with the Ledger Live mobile app, which is compatible with over 50 wallets. There are, however, a slew of assets that can be held on your USB wallet but aren’t supported by the Ledger Live app, including:
- Binance Coin (BNB)
- EOS (EOS)
- Cardano (ADA)
- Monero (XMR)
- Neo (NEO)
- Crypto.org chain (CRO)
- IOTA (MIOTA)
- Terra (LUNA)
- Nem (XEM)
- Ontology (ONT)
- Vechain (VET)
Ledger Nano S vs. Ledger Nano X: Security
Both Ledgers have the same level of security as the rest of the industry. The company uses tamper-resistant Secure Element (SE) chips, also known as hardened microcontrollers. The device saves private keys on the secure chip, similar to air-gapped cold storage, so they’re never exposed. The chips have passed the Common Criteria (CC) EAL5+ certification process. Furthermore, the Nano S and X security is independently evaluated and validated by the Security of Information Systems (ANSSI) in France.
Nano S and X offer the same level of security for these cryptocurrencies. The main differentiating point is that the Nano X comes with Bluetooth, meaning you can connect it to the internet and access your cryptocurrency from anywhere with an internet connection.
Unlike other wallets, Ledger run on a custom operating system dubbed the Blockchain Open Ledger Operating System (BOLOS). “Ledger hardware wallets are the only devices on the market that utilize a Secure Element in conjunction with a proprietary Operating System”, according to the company. The system also separates crypto programs, decreasing cyber dangers.
Personal security measures include the following:
- A minimum four digits pin code
- Users must push both physical device buttons together to buy altcoin
- A 24-word recovery phrase showing on your device.
Ledger Nano S vs. Ledger Nano X: Price/Cost
One of the most significant differences between the Nanos is the pricing. The Nano S is $59 and includes a micro USB-B connector. To connect your Nano S to an Android phone, you’ll need to purchase an OTG kit. On the other hand, a Nano X costs $119 and includes a USB-C cable. The Nano X allows customers to add up to 100 crypto apps and has Bluetooth, whereas the Nano S, which costs less, only supports three crypto apps and does not include Bluetooth.
The Ledger Nano S device is the best option for beginners. Active traders prefer the Nano X because they can hold various currencies and tokens and easily access their assets from an iOS or Android phone.
Ledger Nano S vs. Ledger Nano X: Ease of Use
Both digital wallets are simple to set up and operate, even for beginners. There are two buttons on the USB device and a display screen. The buttons make it simple to navigate the device’s menu. However, because there is no touchscreen, you may have to click back and forth a little more.
The Ledger Live app guides users through the setup process, including security recommendations. In roughly five minutes or less, anyone can follow the instructions and set up their gadget. Because of the larger screen, greater quality, and larger buttons, the Nano X is slightly easier to use.
The Ledger website has a wealth of information on wallet setup, cryptocurrency transfers, and other device functions. The Ledger Academy has several articles, videos, and lessons regarding blockchain and cryptocurrency that users may utilize to learn more about cryptocurrency trading. Users can also use the website’s live chat feature or submit a support ticket.
Ledger Nano S vs. Ledger X: Mobile App
Despite the fact that the Ledger S and X devices are controlled by two buttons and a display, the business also offers the Ledger Live app, which can be downloaded on computers, iOS, or Android devices. The mobile app provides a simple user interface (UI) with few bells and whistles. It also syncs in real-time, allowing you to deal with your crypto from either your desktop or mobile app. Users can do the following:
- See crypto balances in real-time
- Buy or sell crypto through Ledger’s partner, Coinify
- Swap crypto via Ledger’s partner, Changelly (not available for U.S.-based users)
- Grow assets by staking or lending cryptocurrency
- Deal with 27 coins and over 1,800 coins and tokens
The Live app, known for its user-friendly interface, has gained immense popularity for its streamlined approach, eschewing the complexities typically associated with advanced features found in hot wallets. As a result, individuals seeking instantaneous market updates and comprehensive charting capabilities may find themselves drawn towards the feature-rich tools offered by crypto exchanges.
The Ledger Live web wallet combined with the crypto-specific apps makes the Ledger more user-friendly. The Nano S has no mobile support. To complete a transaction, you must plug it into a computer.
Final Verdict
The Ledger Nano S and Ledger Nano X are high-quality digital wallets from a reputable company. Both work with the same currency types, include a mobile app and offer high levels of security. The most significant distinctions are in pricing and storage capacity. A Nano X will set you back twice as much as a Nano S. The larger device, on the other hand, has Bluetooth and long battery life. Furthermore, with the Nano X, users can switch between up to 100 crypto apps, compared to only three on the Nano S. The Nano S is an excellent buy for infrequent crypto investors who want a safe place to store their currency.
On the other hand, if you’re an active trader with a diverse set of assets, and want to access your crypto information from an iPhone, go with the Nano X.
Security
People acquire a Ledger for several reasons, the most important of which is security. The company meets or surpasses industry security standards, including tamper-resistant Common Criteria (CC) EAL5+ certified Secure Element (SE) chips on Nano devices. Your private keys are kept on the chip.
Furthermore, Ledger is the only hardware wallet maker that uses Secure Element chips and the Blockchain Open Ledger Operating System (BOLOS).
The French National Agency for the Security of Information Systems conducts an independent audit of the ledger device (ANSSI). Ledger undergoes an independent audit from the French National Agency for the Security of Information Systems (ANSSI). At the user level, there are additional security measures as well. For instance, to purchase altcoin, users must physically push both buttons on the device simultaneously, making it uncrackable by a cyber-criminal. The hardware wallet requires a four-digit pin number, and users are given a 24-word recovery phrase to keep in a secure, offline location.
Ledger App
Ledger Live enables you to handle many different crypto assets using a single Ledger. Learn the difference between applications and accounts to manage your different coins easily.
For each crypto asset that you want to manage, you need to install its application on your Ledger hardware wallet. The app enables your Ledger hardware wallet to use the private key for the specific blockchain network of the crypto asset. This lets you receive and send that crypto asset.
Any application runs fully isolated from each other thanks to the operating system on your Ledger, BOLOS. This ensures that every application can only manage the crypto assets it is made for, providing an optimal level of security. Applications can be uninstalled safely whenever you want. Don’t worry, this does not affect your crypto.
Customer Satisfaction
User satisfaction with the hardware wallet is overwhelmingly positive. The lack of Bluetooth or security procedures is usually the source of criticism. In other words, top-notch security comes at the cost of a little less convenience. Others expressed reservations about the device’s storage capacity. However, the size and limits are clearly stated on the hardware wallet website, and users who require additional storage may prefer the Bluetooth-enabled Nano X.
Users must fill out an online contact form within 14 days of getting a Ledger if there is an issue with it after purchasing. The company has an online claim form, a comprehensive help center, a phone number, and an email address.
Where can I buy a Ledger in Singapore?
Purchasing from local establishments
Because Ledgers are so well-known around the world, finding one for sale in a physical store in your city may be difficult. While faking a Ledger or physically altering one for malevolent intents is extremely difficult, it is nevertheless technically conceivable.
Purchasing via Amazon, eBay, Lazada, and other online marketplaces
While there are respectable Amazon vendors, eBay sellers, Lazada sellers, and other online retailers selling Nano S and Ledger Nano Xs, we do not recommend purchasing from these sites.
Why? While the possibilities are slim, you may end up with an altered or fake Ledger.
Where should I purchase them instead?
The best location to buy a brand new, genuine, unopened, and untampered Ledger Nano S or Ledger Nano X is still the Official Ledger Website. In that manner, the chances of your gadget being faked, used, or tampered with are much reduced.
While purchasing through the official Ledger website may be more expensive owing to shipping fees, you will save future difficulties of questioning if you obtained a great and real Ledger if you purchased one elsewhere.
Final Thoughts
A ledger is a USB storage device that holds multiple currencies offline. It is capable of storing the user’s keys (private) on the device and thus, making it difficult for third parties to access the user’s account. Moreover, if the physical device gets stolen, then the user can rely on a 24-word password backup recovery to access his/her stored cryptocurrency.
If you want to know more about on Ledger Competitors and other crypto wallets, you can check out our list of the Best Crypto Wallet Singapore.
FAQ
Most frequent questions and answers
With high-end security features, Ledger wallets are designed to mitigate all forms of direct, physical attacks, keeping your key (private) safe from professional hackers. This is due to the fact that Ledger Nanos are built with industry-leading components, as well as our in-house good-guy hackers who fight to uncover flaws so that bad-guy hackers don’t have to.
Ledger offers the following support options: Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat Related categories.
You don’t lose your money indefinitely. Always keep in mind that your assets aren’t held on the physical Ledger device but on the blockchain, which you may access with your Ledger. If you’ve correctly backed up your 24-word recovery seed phrase, you can simply buy a new Ledger hardware wallet and insert your recovery seed into it, allowing you access to your tokens again.
A seed phrase is a string of semi-random words that lets you regain access to your cryptocurrency if you lose or damage your device. You will get the phrase when setting up your device for the first time. It’s vital that you write it down somewhere and keep it safe.
Yes. In July 2020, the Ledger was hacked. Approximately 272,000 customers were affected by the data breach, with approximately one million email addresses leaked. Personal information such as postal addresses and first and last names were exposed, according to the company.
Hacking cold wallets is a difficult operation. Before carrying out such an assault, hackers would have to rely on information that is mistakenly accessible to KeepKey wallets. While cold wallets are vulnerable to hackers as well, keeping them safe is a shared obligation between the user and the wallet. After all, attackers will need physical access to the hardware in order to carry out such attacks.
Inside the box is the Nano S device along with a micro USB-B cable. Packages may also come with sheets to write down your 24-word recovery phrase and a neck strap. Ledger also offers a pack of three devices for savings of up to 21%.
We always try to provide the most accurate information available, and make sure our team follow through.
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