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Ledger USA Review 2023: Benefits, Models and Features
Luis Clark
- URL: https://www.ledger.com/
- Hardware Compatible: Yes
- Price: $79, $149, and $279
- Staking Rewards: Rewards are not guaranteed
- Platform App: Desktop/Mobile (Android/iOS)
- NFTs Storage: Yes
- No. of Cryptocurrencies Supported: 5,000+
- Type of Wallet: Hardware Wallet
Ledger USA Review: Our Opinion
Ledger wallets are some of the most popular wallet options on the market for American investors. The company offers three major devices that support thousands of cryptocurrencies and allow users to access cryptocurrency exchanges, decentralized applications (DApps), and software wallets.
However, Ledger wallets are among the most expensive wallets in the market, so they may not be suitable for the average investor.
An Overview of Ledger USA
Ledger is a French company famous for its hardware wallets. The Ledger wallets are arguably the most popular among crypto enthusiasts globally, with over 5 million users in 200+ countries, including the US.
Ledger was founded in 2014 by eight tech experts with experience in blockchain security, cryptocurrency, and entrepreneurship. These individuals built Ledger to develop a secure solution for blockchain users.
However, Ledger did not launch any storage solution until 2016, when it introduced its flagship Ledger Nano S. But with more advancements and demands from users, Ledger developed the Nano S Plus, Nano X, and Ledger Stax, which are upgrades that have addressed the storage and connectivity issues with the previous versions.
Ledger wallets are secure hardware wallets that support thousands of digital tokens, including NFTs. They offer cold asset storage to users. However, like other wallets, they also have downsides. We highlight some of them below.
Pros
- Top-level security features
- Crypto staking is available
- ANSSI-certified
- Supports Web3/DApps browsing
- Ledger Nano S Plus and Nano X are easy to set up
Cons
- Ledger Nano S Plus is not available on mobile iOS devices
- Wallets are pricey
- Ledger Stax is complicated for newbies
Ledger Hardware Wallet: What Is It?
Ledger wallets are hardware or so-called cold wallets that help crypto traders and investors securely store and manage their digital holdings. These wallets are physical wallets separate from the internet, and they offer users 100% control over their assets. Essentially, they are offline storage mechanisms ideal for users keen on properly securing their crypto fortunes in self-custody.
Ledger wallets come in three major variants: the Ledger Nano S, Nano X, and Ledger Stax. All Ledger wallets are built with similar features, including buying, selling, and storing over 5,000 cryptocurrencies and other digital assets.
However, the Ledger Nano S Plus is not supported on iOS devices, and the Ledger Stax offers more features, including a customizable lock screen, Bluetooth support, touchscreen, and wireless charging.
Cryptocurrencies Supported
Despite having three major products, all Ledger wallets support over 5,000 digital assets, making them an ideal storage choice for beginners and experienced investors alike. Some of the cryptocurrencies supported by Ledger include the following:
- Bitcoin (BTC)
- Ethereum (ETH)
- XRP
- Bitcoin Cash (BCH)
- Binance Coin (BNB)
- Tezos (XTZ)
- Litecoin (LTC)
- Polkadot (DOT)
In terms of asset support, Ledger wallets surpass their closest competitors. For instance, competitor wallets like the Trezor Model One and Model T support about 1,200 and 1,400 coins, respectively.
Who Should Use Ledger Hardware Wallets?
Ledger wallets support a wide range of crypto assets. The Ledger Live App enables investors to buy and sell crypto from their wallets easily. This makes the wallets ideal for beginner investors looking for high-security devices to store their crypto fortunes.
However, while the Ledger Nano S Plus and Nano X are easy to set up, the Ledger Stax is better suited for advanced investors, as it can be more complicated to set up.
Investors with diverse portfolios, including NFTs, will fancy any of the Ledger wallets.
Why Use a Cold Storage Wallet?
Cold storage wallets or hardware wallets are physical wallets that allow users to store their assets offline to prevent cyber attacks or hacks. In other words, cold storage wallets are ideal for investors who want to avoid potential hacking incidents.
At the same time, cold wallets are non-custodial wallets that offer users total control of their assets. Users’ funds and private keys are securely stored within their devices, so they won’t lose their funds if the wallet company gets hacked.
Cold wallets offer more security than hot or software wallets, making them an ideal storage companion for users who prioritize security and prefer self-custody of their assets.
Different Ledger Wallet Models Comparison
Here, we compare the three different Ledger wallets and their features to help investors determine which suits their needs better.
How to Set Up a Ledger Wallet
After purchasing a Ledger Nano S Plus or Nano X wallet, investors can set up their devices using the steps below.
- US investors can visit the Ledger website to download the Ledger Live App for desktop devices. Click “Download.”
- Choose the compatible operating system among Windows, Mac, and Linux OS.
- Install the app and launch it to access the homepage. The image below depicts the homepage.
- Connect the Ledger wallet via the USB drive and click “Get Started” on Ledger Live.
- Choose the wallet type among the displayed options and follow the on-screen instructions.
- Get a pen to write down the recovery seed, and click “OK, I’m ready!”
- Create a PIN code and confirm the pin on the device. Then, generate the wallet’s recovery phrase by pressing the right button on the Nano device to scroll through each word. Write down each word on the recovery sheet included in the Nano pack and repeat the process until all 24 words are completed.
- Confirm the recovery phrases on the hardware wallet and click “Ok. I’m Done.”
- Complete the short quiz and allow the app to run a check on the Nano device to determine its genuineness. Then, complete the process.
Security
Despite appearing in different variants, all Ledger wallets have strong security features to help users save their assets and private keys securely.
When setting up the wallet, Ledger runs a quick “Genuine Test” to verify that the wallet is real and not a makeshift wallet produced by scammers to steal from unsuspecting users. Moreover, the Ledger wallets are disconnected from the internet, so malicious actors cannot access users’ data or assets.
In the unlikely event malicious actors hack Ledger, wallet owners have total control of their crypto holdings. Threat actors cannot steal their assets since they are not stored with the company. Ledger also uses a BOLOS operating system to prevent potential malware on a connected device from spreading to any Ledger wallet.
On the user end, Ledger mandates that customers create a PIN code when setting up the wallet. They also receive a 24-word recovery phrase that they can use to restore their accounts if the connected mobile or desktop device gets missing or broken. Investors can also set up two-factor authentication (2FA) and add their biometrics to secure all transactions on the Ledger Stax.
Ledger wallets are certified by the French Network and Information Security Agency (ANSSI), which means the devices meet the most reliable cybersecurity standards.
Ledger Wallet App
One of Ledger’s strongest appeals to customers is its user-friendly wallet app. The app is available for desktop, Android, and iOS devices and offers various features that make it ideal for beginners and advanced investors.
The Ledger Live app has a simple interface that makes it easy to set up a Ledger wallet. It also has an Exchange feature that allows users to send and receive any of the assets supported by Ledger.
The Ledger Live App has a 5-star rating on Google Play Store and a 4.9-star rating on Apple App Store. Users particularly commend its ease of use on both smartphones and computers.
Customer Satisfaction
To cater to customers who may have challenges setting up their Ledger devices or using their features, the company provides various learning materials that customers can access on their website’s “Support” page. There are frequently asked questions (FAQs) on this page containing guides to technical issues and responses to common questions users may have.
At the same time, customers can refer to the “Ledger Academy” for crypto insights. Ledger also provides a dedicated customer support team that users can reach via email.
However, while the Ledger Live App has a high interaction level across Android and iOS users, Ledger customer reviews online suggest that the company needs to improve customer support.
Ledger has an average 3.4 rating from a possible five on Trustpilot, with about 41% of reviewers berating its poor support. They complained that Ledger’s issue tickets take so long to be closed. However, Ledger states on its website that the delayed response time may be due to the high volume of requests as a result of an increased interest in its products.
Where Can I Buy a Ledger Device in the US?
The easiest place for US investors to purchase a Ledger wallet is on the website. The website has an integrated marketplace where visitors can view all the Ledger products, their features, and prices. US investors can also compare the available Ledger devices on this page before making a choice.
Alternatively, US investors can visit the official Ledger store on e-commerce platforms like Amazon to purchase a Ledger device.
The Ledger wallets cost $79, $149, and $279 for the Nano S Plus, Nano X, and Ledger Stax, respectively.
Final Thoughts
Ledger wallets are some of the most reputable and secure cold wallets available. With three devices to choose from, US investors can store various crypto assets offline, connect to dApps, and integrate with exchanges to send and receive crypto.
Ledger wallets are suited for crypto beginners and experts with an easy setup process and top security features like Genuine Test, a 24-word passphrase, and 2FA.
However, the average investor looking for a low-cost hardware wallet option may have an issue with the high costs of Ledger wallets and opt for more affordable options like KeepKey or SafePal S1.
If you want to know more about Ledger Competitors and other crypto Cards, you can check out our list of the Best Crypto Wallets USA. You can also read about our Trust USA Review as an alternative to Ledger Wallet.
FAQ
Most frequent questions and answers
Ledger is a reputable company with high-security standards and a proprietary operating system for their devices. The company meets the industry standard for security and is ANSSI-certified.
Since its inception, there have been no reports of Ledger wallets being hacked. So it’s safe to say the company’s security measures have been effective.
No, as USD is a fiat currency. However, US investors can hold stablecoins like USDT and USDC on Ledger. These stable USD assets have their values pegged to the US Dollar.
The major disadvantage of Ledger is that the company’s cold wallets are expensive for the average investor. Also, the latest Ledger Stax can be complicated to set up for crypto newbies.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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