![]() This is especially true with ERC20 tokens. Instead, You will need to pair the Nano S with a 3rd party wallet software. It’s also worth noting that for many of these coins, you cannot manage them using Ledger’s native software, Ledger Live. “Supported coins” just means you have the option to manage them on Ledger hardware. Keep in mind that the Nano S hard drive is very small, so you’ll only be able to manage three to five of those 1,600 coins at a time. The Nano S supports over 1,600 cryptocurrencies. The Ledger Nano S was first introduced in 2016 and is a multi-currency hardware device. Crypto investors who want a wallet to use with their multisig.Crypto investors who want an inexpensive wallet.Crypto investors who only own a few coins.Device times out after a period of inactivity.We’ll uncover how exactly the Nano S does that in great detail below. ![]() The Nano S protects against hackers getting your private key and stealing your coins from that address. It’s just a number assigned to an address (or wallet) on a blockchain. The crypto isn’t really stored anywhere because it doesn’t exist in the physical world. Many newcomers wonder, “Is crypto actually stored on my Nano S?” If someone has the password, they can control your coins. Private keys are like the master passwords to your crypto wallet. The Ledger Nano S (and all hardware wallets) have two jobs: to generate and to safely store private keys. In this Nano S review, we put the device to the test and explain if secure elements are all they’re cracked up to be.īut first… What is Ledger Nano S used for? Ledger has done a lot of marketing around their “secure element” and has raised more VC money than any of their competitors have. The Ledger Nano S is likely the most widely owned and well-known hardware wallet on the market. Wondering if its all its cracked up to be?įind out in this in-depth review covering everything you need to know about the Ledger Nano S and how we think it stacks up against other hardware wallets on the market. Read on to learn everything you need to know about Ledger Nano S. ![]() Differences between Ledger Nano S and Ledger Nano X.
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