Ledger Nano S Review

Ledger Nano S Review: The Iconic Entry-Level Hardware Wallet

The Ledger Nano S was the device that introduced millions of people to hardware wallet security. Launched in 2016, it became the world's best-selling hardware wallet before being discontinued in 2022. Even today, millions of Nano S devices are still in active use globally.

Background: Ledger

Ledger is a French company founded in 2014, headquartered in Paris. The company specialises in blockchain security and has shipped over 6 million hardware wallets worldwide. Ledger's devices use a certified Secure Element chip (CC EAL5+), the same technology found in credit cards and passports.

Hardware

The Nano S is compact and durable — roughly the size of a USB flash drive. The device features:

• A small OLED display (128×32 pixels)
• Two physical buttons for navigation and confirmation
• A USB-A connector for connection to computers
• No battery (powered via USB)
• A certified CC EAL5+ Secure Element chip

The device stores private keys in the Secure Element, ensuring they never leave the device in plaintext.

Security

The Nano S uses a PIN code (4–8 digits) to protect access. After 3 incorrect PIN attempts, the device resets itself. Your 24-word recovery phrase (BIP39) is the master backup — stored offline on the included recovery sheet, never on Ledger's servers.

The Secure Element chip is tamper-resistant and certified to withstand physical attacks. The device firmware is open-source and regularly audited.

Supported Coins

At its peak, the Nano S supported over 5,500 cryptocurrencies via Ledger Live and third-party apps. The storage limitation (only 3–5 apps can be installed simultaneously due to limited memory) was its primary drawback, especially compared to the Nano X.

Ledger Live App

Ledger Live is the companion app available for Windows, Mac, Linux, iOS, and Android. It allows you to:

• Manage your portfolio
• Send and receive crypto
• Buy, sell, and swap crypto via partners
• Stake certain assets (ETH, SOL, DOT)
• Connect to DeFi apps

Nano S vs Nano X vs Nano S Plus

Verdict

The Ledger Nano S was a milestone product that democratised hardware wallet security. While it has been replaced by the Nano S Plus (which fixes the storage limitation at the same price point), the original Nano S remains a reliable device if you already own one.

If you are buying new, the Ledger Nano S Plus is the better choice — same security, much more storage, same price.