Ledger Hardware Wallet Review 2021 — Pros, Cons & More
Tags: Hardware Wallet, Ledger Review, Ledgerwallet, Bitcoin Wallet

What is Ledger wallet?

Ledger wallet is a hardware cryptocurrency wallet that allows you to safely store, send, and receive hundreds of cryptocurrencies. Ledger wallet offers the best level of protection as your private keys remain protected in a certified secure chip. Ledger crypto wallet safeguards crypto assets for ordinary users, hedge funds, high net worth individuals, and crypto banks. The Ledger hardware wallet has two models; the Ledger Nano S and Ledger Nano X.

Ledger Nano X

The Ledger Nano X is the next level Ledger hardware wallet with which you can exchange, buy, sell, lend (using the DeFi functionality), stake and manage 27 coins from your smartphone or computer.

The Ledger Nano X allows you to manage your crypto assets from your smartphone by linking the device to the Ledger Live app via Bluetooth. You can also connect the device to a cable on your computer or smartphone. Depending on their sizes, you can install up to 100 apps on the Ledger Nano X.

Ledger Nano S

The Ledger Nano S is the original hardware wallet in the Ledger series. It lets you manage 27 assets and ERC-20 tokens via the Ledger app from your smartphone (Android) or desktop. You can also install 3 to 20 apps on your Ledger device depending on the app size.

Ledger Hardware Wallet Pricing

Compared to most other cryptocurrency wallets, Ledger offers the best value for your money. The Ledger Nano S is the entry-level cryptocurrency wallet offered by Ledger, and it has all of the same security features as its flagship model, the Ledger Nano X. Ledger wallets, bundles and accessories are priced as follows:

Ledger Nano S: $59

Ledger Nano X: $119

Ledger Family Pack S: $139

Crypto Starter Pack: $69.00

Ledger OTG Kit: $17.99

Ledger Wallet Pros And Cons

Pros

Easy to set up and use

Supports more than 1,500 different digital assets

Tamper proof

Portable

Long-lasting battery

Bluetooth connectivity features

Cons

Can be quite pricey

Ledger’s Hardware and Design

Ledger wallets have a simple and easy-to-use interface. Both wallets have display screens (the Nano X screen is larger)used to confirm transactions and two navigation buttons used to access the menu, select apps, and enter your PIN code and input backup passphrases. Ledger wallets have a durable stainless-steel cover surrounding the device. Nano wallets also come with a micro-USB cable used to plug into a computer.

Supported Coins

Both of Ledger’s wallets, the Nano X and Nano S are known to support the widest range of cryptocurrencies among all crypto hardware wallets. Ledger prides itself as a multi-currency feature, and stays true to its word it can support thousands of cryptocurrencies. This composition includes the most obvious suspects like:

Bitcoin (BTC)

Ethereum (ETH)

Ripple (XRP)

Bitcoin Cash (BCH)

Polkadot (DOT)

Litecoin (LTC)

Binance coin (BNB)

Stellar (XLM)

Monero (XMR)

Ledger’s multi-currency feature lets you manage multiple assets with the same hardware wallet.

Security and Hacking Protection

Ledger employs the highest security standards to ensure the wallet is hackproof. For starters, both of Ledger’s hardware wallets integrate a certified chip that’s designed to withstand the most sophisticated attacks and securely host cryptographic data like private keys.

Ledger goes a step further to create a custom operating system (BOLOS) for its wallets to ensure your hardware device isn’t susceptible to malicious attacks. The custom OS also ensures that your applications are isolated from each other. Ledger also steps up security measures using its genuine check, a Ledger-developed authentication that ensures your wallets have not been compromised or tampered by a 3rd party.

Any hacking attempt on your wallet would be thwarted since a hacker would need your personal PIN, which only you can have. After 3 incorrect PIN attempts, Ledger goes into a timed lockout, from which you’ll need to enter your backup passphrase to access your wallet.

Ledger Customer Support

Ledger offers its customers a wide range of support resources, the main avenue of support being the Ledger’s website. You will find almost everything you need to know concerning the Ledger wallets on the FAQs section. Alternatively, there is the Ledger Academy which can help beginners learn the crypto basics. For quick questions, you can reach the support team through Ledger’s live chat feature or submit a ticket through the online contact form.

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