Ledger Nano S Plus Review: The Best Hardware Wallet in September 2024?

In a time when security has become crucial due to the surge in crypto-related frauds and scams, the importance of protecting your investments cannot be overstated. Crypto hardware wallets offer a strong solution to this challenge, providing a secure environment and full control of your assets.

This Ledger Nano S Plus review highlights how it emerges as a standout option among these, offering secure offline storage and the requirement for physical interaction to authorize transactions to add an extra layer of security.

What is the Ledger Nano S Plus Wallet?

The Ledger Nano S Plus is a cold wallet supporting 5,500+ coins and tokens across various blockchains, including some of the most promising cryptos like Bitcoin, Ethereum, and many ERC-20 tokens, through its comprehensive Ledger Live app. Priced at $79, the Nano S Plus is affordable, especially compared to its counterpart, the Nano X, which costs $149 and includes Bluetooth connectivity.

Key security features include cold storage, a secure element chip for cryptographic operations, physical buttons, PIN protection, a proprietary operating system (BOLOS), and regular firmware updates.

Additionally, the device’s large storage capacity allows for up to 100 apps, improving its appeal to users with diverse portfolios. Our Ledger Nano S Plus review shows how this blend of advanced security features and user convenience makes it a top choice in the hardware wallet market.

Ledger Nano S Plus Supported Coins

Our Ledger Nano S Plus review for January 2024 discusses how the wallet supports over 5,500 coins and tokens. You can install the corresponding app for its blockchain to add a specific coin, token, or NFT to the Ledger Nano S Plus.

For instance, installing the Ethereum app allows you to manage all Ethereum-based assets, and similarly for other blockchains like Solana. The Ledger Nano S app is an integral part of the ecosystem that allows users to store, manage, and even stake cryptos.

The Ledger Live app and Ledger Nano S Plus supported coins include some of the best cryptos like Bitcoin, Ethereum, XRP, Tether, USD Coin, Bitcoin Cash, Polkadot, Litecoin, Binance Coin, Dogecoin, Cardano, Shiba Inu, Monero, Tezos, TRON, Cosmos, Polygon, Avalanche, Uniswap, and Algorand. You can buy, sell, or swap these popular within the Ledger Live app.

Pricing and Fees

At press time, the Ledger Nano S Plus crypto hardware wallet is available at $79. This price positions it as one of the best decentralized wallets in the hardware wallet market, considering its capabilities and compared to other similar devices.

When comparing the Ledger Nano S Plus vs Nano X, it’s worth noting that the Nano S Plus is more affordable at $149. The main difference between these two models is that the Nano X includes Bluetooth support, improving its mobile compatibility, particularly with iOS devices.

The device connects via a USB cable to laptops and PCs. The Ledger OTG Kit, comprising various USB cables, is required for Android device connectivity. This kit might need to be purchased separately, which costs around $17.99.

The Ledger Nano S Plus offers an optional seed phrase recovery feature called Ledger Recover. This service can help you recover your seed phrase, which is crucial for accessing the coins in your wallet. However, this feature is optional and has a monthly subscription fee of $9.99.

Our Ledger Nano S Plus review discovered that there are no extra fees charged by Ledger for transactions. However, when using the Ledger Live app for transactions like buying, selling, or swapping cryptos, users might incur standard network fees as they would with any crypto transaction.

How Safe is Ledger Nano S Plus?

The Ledger Nano S Plus is known for its strong security features, making it a highly secure option for storing crypto. Here are some key features that highlight its security:

• Offline Storage (Cold Storage): The device provides cold storage, meaning it stores private keys offline. This significantly reduces the risk associated with online storage, where private keys might be more susceptible to online threats like hacking.
• Secure Element Chip: The device has a certified secure (CC EAL6+) designed to handle cryptographic operations in a secure environment. This chip is similar to those used in credit cards, providing a high level of security against physical and logical attacks. It isolates sensitive operations from the main processor to prevent potential security breaches.
• Physical Buttons and PIN Protection: The Ledger Nano S Plus includes two physical buttons to authorize transactions. This feature ensures that even if a malicious link connects the wallet to a fraudulent website, unauthorized transactions can be prevented, as they require physical approval. Additionally, the wallet is protected by a PIN code, which can be set between 4 and 8 digits long. This PIN is required every time the device is activated, providing an extra layer of security.
• Proprietary Operating System: The device runs on the Blockchain Open Ledger Operating System (BOLOS), which allows the installation of applications and new privacy features. The operating system ensures that applications run independently and confirms transactions with physical buttons on the device.
• Recovery Phrase: The Ledger Nano S Plus generates a 24-word recovery phrase during setup, which is crucial for accessing your crypto assets in case the device is lost or stolen. This phrase should be stored securely and never exposed online.
• Optional Ledger Recover Feature: The device offers an optional feature called Ledger Recover, which, for a monthly subscription fee, splits a user’s seed phrase into encrypted parts and distributes them to third-party companies.
• Regular Firmware Updates: Ledger provides regular firmware updates to address potential vulnerabilities and introduce new features, which is essential for maintaining the security integrity of the device over time.
• Two-Factor Authentication and Multisignature Support: Through integration with software companies, Ledger devices support multi-signature security and two-factor authentication, offering an additional layer of security.

Is the Ledger Nano S Plus Easy to Use?

The Ledger Nano S Plus is designed with a strong focus on user-friendliness, making it a suitable choice for many users. The setup process is simple, with clear on-screen instructions guiding users through each step. This includes connecting the device to a computer, setting up a PIN, and recording the recovery phrase. The simplicity of the setup process makes the device accessible to users of all experience levels​​​​.

The device is designed for portability, with a compact and durable build that makes it easy to carry and use. Its size and form add to its user-friendliness, allowing users to securely manage their assets wherever they are.

The Nano S Plus has a larger screen than the original Nano S model. The increased screen size improves readability and user interaction, making verifying transaction details and navigating the device’s menus easier. Navigation is enabled by two physical buttons that scroll through menus and confirm selections.

Moreover, the Ledger Live software complements the device, which is the main interface for managing your cryptos. Ledger Live is known for its user-friendly design, allowing users to easily check balances, send and receive cryptos, and manage multiple accounts.

Our Ledger Nano S Plus review also found that while it integrates most cryptos with the Ledger Live app, it also supports third-party applications for assets not directly supported within Ledger Live. This flexibility allows users to manage a broader range of digital assets using their preferred applications.

Additionally, Ledger provides rich educational content through Ledger Academy, helping users understand various aspects of crypto and blockchain. This resource is valuable for beginners looking to increase their knowledge and confidence in using hardware wallets.

Top Features of the Ledger Nano S Plus Wallet

Our Ledger Nano S Plus wallet review highlights the key features that make it a promising hardware wallet option for many users, from beginners to advanced crypto enthusiasts.

Extensive Crypto, NFT & Staking Support

The Ledger Nano S Plus supports over 5,500 cryptos, including major coins like Bitcoin, Ethereum, and many others, along with various ERC-20 tokens. This makes it a versatile choice for users with diverse digital assets.

The Nano S Plus also offers native support for NFTs, allowing users to securely manage their NFT collections directly through the Ledger Live app, a feature that is becoming more important as the NFT market continues to grow​​. This is enabled through partnerships and integrations with NFT platforms, improving the user experience for NFT enthusiasts.

Moreover, users can stake and access DeFi applications directly through Ledger Live. For instance, users can stake assets like Tezos, Tron, Cosmos, Algorand, Polkadot, Solana, Ethereum 2.0, and Osmosis.

Advanced Security Measures

As a hardware wallet, the Nano S Plus provides offline storage for private keys, significantly reducing the risks associated with online storage (hot storage) and making it less susceptible to hacking and other online threats.

Moreover, transactions require physical confirmation through the wallet’s buttons, adding an extra layer of security by ensuring that transactions cannot be authorized remotely without physical interaction.

Unlike its more expensive counterpart, the Ledger Nano X, the Nano S Plus does not have Bluetooth connectivity. Some users who prefer a wired connection for security reasons see this as a positive.

Large Storage Capacity 

The Ledger Nano S Plus offers significantly more storage space than its predecessor, allowing users to install up to 100 apps simultaneously. This is particularly beneficial for users who deal with multiple cryptos.

It is also a massive improvement, as the original Nano S could only hold a few apps at a time due to storage constraints.

Ledger Live Software Integration & Compatibility with Third-Party Apps

The device integrates with the Ledger Live software, enabling users to manage their crypto portfolio, perform transactions, and use dApps from a single platform.

Our Ledger Nano S Plus review found that the wallet is also compatible with various third-party applications for cryptos not directly supported in Ledger Live, allowing users to manage these assets through their preferred platforms.

For example, it can integrate with software wallets like MetaMask for accessing Ethereum-based dApps or with Electrum for advanced Bitcoin features. This flexibility allows users to tailor their experience to their needs and preferences.

Customer Service

Users can contact Ledger’s customer support team directly via email for specific issues. This channel is recommended for technical problems, security concerns, or detailed assistance. While Ledger aims to provide timely support, response times can vary based on the complexity of the issue and the volume of inquiries.

Our Ledger Nano S Plus review also found a few additional customer service features:

• Support Channels: Ledger offers multiple channels for customer support, including an extensive FAQ section on their website, email support, and social media platforms. Users can choose the most convenient method to seek assistance.
• Ledger Support Center: The Ledger Support Center is a central hub where users can find articles, guides, and troubleshooting tips related to their Ledger devices and the Ledger Live software. This resource is particularly useful for addressing common issues and questions.
• Security Alerts and Updates: Ledger proactively communicates security alerts and firmware updates to its users. Keeping the Ledger device’s firmware up to date is crucial for security, and Ledger’s customer service plays a key role in ensuring this process.
• Documentation and Guides: Ledger provides detailed documentation, including setup guides and how-to articles. These are invaluable for new users setting up their Ledger Nano S Plus for the first time or experienced users exploring advanced features.
• Ledger Academy: The Ledger Academy offers educational content on various blockchain and crypto security topics. While not a direct customer service tool, this resource helps users understand best practices for using their Ledger devices securely.
• Community Support: Ledger has a strong presence on various social media platforms and forums, where users can seek advice and share information. The community can be a valuable resource for real-world tips and solutions.

Ledger also frequently conducts live Q&A sessions on YouTube, where users can ask questions directly in the chat for the team to answer. 

Additionally, you can contact Ledger’s support team through their social media accounts on X (Twitter), Reddit, Facebook, Instagram, and TikTok.

How to Start Storing Cryptos with the Ledger Nano S Plus Wallet

It’s very simple to start storing or transferring your cryptos with the Ledger Nano S Plus wallet. Here are the detailed step-by-step instructions:

Things you’ll need to get started:

• Ledger Nano S Plus and its USB-C cable.
• A computer or an Android device (Note: iOS is not supported for connection at this time).
• The Ledger Live application installed on your device. Go to Ledger’s official website and download the Ledger Live application compatible with your operating system. Follow the installation instructions and open Ledger Live.

Step 1: Setting Up Ledger Nano S Plus

Use the USB-C cable to connect your Ledger Nano S Plus to your computer. You should see a message: “Welcome to Ledger Nano S Plus. Press the right button to continue.”

If your device asks for a PIN code immediately, contact Ledger Support, as it might be unsafe. Then, press the right button to proceed with the instructions on the device. Press both buttons simultaneously to select “Set up as a new device.”

Step 2: Choosing Your PIN Code

When “Choose PIN code with 4 to 8 digits” appears, press both buttons to start setting your PIN.

Use the left and right buttons to select each digit of your PIN code, and press both buttons to confirm each digit. After entering 4 to 8 digits, confirm your PIN code by selecting the checkmark and pressing both buttons.

Step 3: Writing Down Your Recovery Phrase

Your device will now display a 24-word recovery phrase, one word at a time. This phrase is crucial as it’s the only backup for your private keys.

Use the provided Recovery Sheet to write each word in order. Make sure to double-check each word for accuracy. After recording all 24 words, your device might ask you to confirm some of these words for verification.

Step 4: Finalizing Setup

After confirming your recovery phrase, the device will process the setup. Once completed, it will display “Your device is now ready.”

Hold both buttons for 3 seconds to access the Control Center, where you can manage apps and settings on your device. Once Ledger Live is set up, you can add accounts for different cryptos and start managing your assets.

Step 5: Transferring Cryptos

To transfer cryptos to your Ledger Nano S Plus, use Ledger Live to generate a receive address for the specific crypto you’re transferring.

Confirm the address on your Ledger device and use it to send crypto from where you currently hold it (like an exchange or another wallet) to your Ledger Nano S Plus.

Should You Buy the Ledger Nano S Plus in 2024? Our Verdict

Our Ledger Nano S Plus review highlighted its value, especially for those prioritizing secure, versatile, and user-friendly crypto storage. 

With support for over 5,500 coins and tokens, it caters to a broad range of users, from beginners to experienced users. The integration with the Ledger Live app further improves its utility, enabling storage, managing, and staking cryptos directly from the device.

Priced at $79, the Ledger Nano S Plus stands out for its affordability without compromising security or features, making it one of the best cold wallets in 2024.

References

• https://www.ledger.com/academy/what-is-ledger-recover
• https://www.statista.com/outlook/dmo/fintech/digital-assets/nft/worldwide
• https://support.ledger.com/hc/en-us/articles/4416927988625-Set-up-your-Ledger-Nano-S-Plus?docs=true
• https://support.ledger.com/hc/en-us/articles/4416927988625-Set-up-your-Ledger-Nano-S-Plus?docs=true
• https://www.ledger.com/staking
• https://stars.library.ucf.edu/etd2020/403/

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