Are you ready for a hardware wallet that can keep up with all your crypto needs? The Ledger Nano S Plus claims to be just that! But is it worth the upgrade from the Ledger Nano S? In this review, we will look into everything about the Nano S Plus to help you make an informed decision.
What Is The Ledger Nano S Plus?
The Ledger Nano S Plus is a hardware wallet for storing and managing your cryptocurrencies offline. But what exactly is a hardware wallet, you may ask? A hardware wallet is a physical device, like a USB drive that securely stores your cryptocurrencies offline.
When you transfer your crypto keys to a hardware wallet, you effectively “cold store” them, meaning they are not accessible through the internet and are, therefore, much less susceptible to hacking and other online threats. In order to access your cryptocurrencies stored on a hardware wallet, you need to physically connect the device to a computer and use a pin code to unlock it. Then, log in to your crypto exchange account to access the blockchain, where your crypto is stored.
The Ledger Nano S Plus was launched in 2021, and it promises to take the already impressive security and functionality of its predecessor, the Ledger Nano S, to the next level. The Nano S was a game-changer in the world of hardware wallets and quickly became one of the most popular options for crypto enthusiasts.
With the Ledger Nano S Plus, Ledger has taken all of the great features of the Ledger Nano S and added even more. From a larger and brighter screen for easier navigation, increased storage capacity for multiple assets, to improved performance for faster and smoother operation, the Ledger Nano S Plus promises to be the ultimate hardware wallet for the modern crypto investor.
So, what are you waiting for? Join us as we dive into all the features and improvements of the Ledger Nano S Plus and discover if it’s worth the upgrade from the classic Ledger Nano S.
Ledger Nano S Plus Pros
- A larger and brighter screen for easier navigation and display of information
- Increased storage capacity for multiple assets
- DeFi and NFT-friendly
- Multiple layer security with a secure chip and encrypted storage
- Supports a wider range of cryptocurrencies compared to the Ledger Nano S
- Easy to use and compatible with multiple operating systems
Ledger Nano S Plus Cons
- Slightly more expensive compared to the Ledger Nano S
- No touch screen
- No Bluetooth
- Cheaper, plastic build
What’s In The Box?
The Ledger Nano S Plus is shipped in a neatly packaged box that contains:
- Ledger Nano S Plus hardware wallet
- USB-C to USB-A cable
- Instruction manual
- Three recovery sheets for writing down your recovery phrase
How to Set Up the Ledger Nano S Plus
So, you have ordered your Ledger Nano S Plus. Here is how to set it up so you can start using it to protect your portfolio:
- Connect the Ledger Nano S Plus to your computer using the USB cable provided in the box.
- Turn the wallet on and follow the on-screen instructions to set up your device as a new device.
- Set a pin code to secure access to your Ledger Nano S Plus. You will use this pin code each time you connect the device to your computer.
- Write down the recovery phrase displayed on the screen. It is a backup of your private keys and should be stored in a safe place. Do not store it on your computer or in the cloud.
- Verify your recovery phrase by following the on-screen instructions.
- Your Ledger Nano S Plus is set up and ready to use! You can now install compatible wallet applications and transfer your cryptocurrencies to your Ledger Nano S Plus.
Top Ledger Nano S Plus Features
From its large and bright screen to its improved performance, the Ledger Nano S Plus offers a range of benefits that make it stand out from other hardware wallets on the market. Here are the top features you should know!
a) Large and Bright Screen
The Ledger Nano S Plus features a bright and large screen, making it easier to view and navigate compared to its predecessor, the Ledger Nano S. This improved screen is a valuable addition, especially for those who are new to cryptocurrency and may not be familiar with the intricacies of managing their digital assets. Here are some of its benefits:
- It displays important information such as your transaction history and current balance, as well as alerts and notifications
- The screen makes it easier to read and reduces the risk of errors when checking your balances or verifying transactions
b) Increased Storage Capacity
If you used the Ledger Nano S, you might have had issues with its storage. The wallet only supports a limited number of apps and still only makes things easier for Bitcoin investors.
If that was your main reason for an upgrade, you only need to look as far as its successor, the Ledger Nano S Plus. This wallet supports up to 5000 cryptocurrencies plus around 100 applications, so you can create and grow a diverse crypto portfolio from one place.
c) Improved Performance
Sure, the Nano S was one of the best crypto wallets for cold storage during its time, but that does not mean using it was seamless. And, many have only spotted the difference when using the Nano S Plus, which comes with a faster processor and improved memory capacity, allowing it to execute transactions and manage multiple applications more efficiently.
d) Multiple Layer Security
The Ledger Nano S Plus has multiple layers of security to ensure the safety of your cryptocurrencies. Some of the key security features include:
- Physical Security: The Ledger Nano S Plus is a hardware wallet, meaning your digital assets are stored offline, away from the risks of online hacking and theft. The device is designed to be physically secure, with a durable exterior and a pin code required to unlock the device.
- Operating System Isolation: The Ledger Nano S Plus uses an isolated operating system to protect against potential vulnerabilities in your computer. The device operates independently from your computer, reducing the risk of malware or other security threats affecting your digital assets
- Secure Element: The Ledger Nano S Plus contains a secure element, which is a dedicated microcontroller that stores your private keys and protects them against unauthorized access.
- Two-Factor Authentication: The Ledger Nano S Plus supports two-factor authentication, which adds an extra layer of security to your device. With two-factor authentication enabled, you will be prompted to enter a second factor, such as a unique code from an authentication app, in addition to your pin code to unlock the device.
- Regular Firmware Updates: Ledger regularly releases firmware updates for its hardware wallets, including the Ledger Nano S Plus. These updates address potential vulnerabilities and enhance the overall security of the device.
e) Better Cryptocurrency Support
As mentioned above, the Ledger Nano S Plus comes with better storage, which also translates to more room for many cryptocurrencies and assets. Some of the popular cryptocurrencies supported by the Ledger Nano S Plus include:
The device also supports a number of decentralized applications (Dapps), allowing users to interact with and manage their digital assets directly from the hardware wallet. In addition, the Ledger Nano S Plus supports the storage and management of Non-Fungible Tokens (NFTs). As a result, you can securely store, manage, and interact with your NFT collections directly from the hardware wallet.
The ability to store NFTs on the Ledger Nano S Plus offers a high level of security and peace of mind, as your NFT collections are protected by the device’s multiple layers of security and are stored offline, away from the dangers of hacking and other online threats.
f) Ease of Use
The device is designed with user experience in mind, and features an intuitive interface that makes it simple for users to manage their cryptocurrencies and interact with decentralized applications (Dapps).
The Ledger Nano S Plus is also compatible with multiple operating systems, including Windows, MacOS, and Linux, making it a flexible and accessible platform for users with different computer systems. This compatibility allows you to access your digital assets from any desktop device, giving you greater control and flexibility over your cryptocurrencies.
In addition to desktops, the wallet can also work with most Android devices thanks to the USB-C to USB-A cable it comes with. This feature makes it superb for you if you travel a lot, making it easy to observe and improve your portfolio on the move.
The Ledger Nano S Plus also comes with a comprehensive user manual and a wealth of online resources and support, making it easy to start managing your cryptocurrencies confidently.
As mentioned above, you can use the wallet even on the move through your Android smartphone, but that’s not all about its portability. Firstly, the wallet comes in a compact form factor that makes traveling with it a bliss. And, you never know when an investment comes calling, so it is best to have the wallet with you at all times.
However, it is best practice to personally guarantee your portfolio’s safety. Do this by ensuring you keep your wallet safe when traveling with you, and make sure to store a recovery phrase somewhere else, so you have a way of retrieving your keys if you lose the physical wallet.
The Ledger Nano S Plus is a premium hardware wallet with a price that reflects its advanced features and capabilities. Compared to its predecessor, the Ledger Nano S, the Nano S Plus offers a number of key improvements, including a larger and brighter screen, increased storage capacity, and enhanced security features.
As far as pricing is concerned, the Ledger Nano S Plus is slightly more expensive than the Ledger Nano S. However, the added features and capabilities of the Nano S Plus make it a worthwhile investment for those looking for a high-quality hardware wallet for their cryptocurrencies.
Also, compared to other hardware wallets on the market, the Ledger Nano S Plus is fairly priced, offering a good balance of advanced features and affordability. For example, the wallet is almost half the price of Trezor, while it offers some of the best security and support features.
Possible Deal Breakers
When considering the Ledger Nano S Plus, there are a few possible dealbreakers to be aware of. These include its lack of Bluetooth connectivity, non-touch screen interface, and limited mobile compatibility.
a) No Bluetooth
One of the main limitations of the Ledger Nano S Plus is its lack of Bluetooth connectivity. This means that you can only connect the wallet to a computer to access your cryptocurrencies and cannot use it with an Apple mobile device. It may be a dealbreaker if you want a more versatile and portable solution.
b) No TouchScreen
Another potential drawback of the Ledger Nano S Plus is its non-touch screen interface. While the wallet’s larger screen makes it easy to read and navigate, it does not support touch controls. This means that you’ll need to use the buttons on the wallet to make selections, which may be less intuitive for some users.
c) No Mobile App
Finally, the Ledger Nano S Plus is not as mobile-friendly as some other hardware wallets. While it is compatible with multiple operating systems, including Windows, MacOS, and Linux, it does not have a dedicated mobile app for iOS or Android devices. This means you’ll need to use your computer to access and manage your cryptocurrencies, which may not be ideal for everyone.
So, there you have it! The Ledger Nano S Plus is a comprehensive hardware wallet that offers a high level of security for your cryptocurrencies. With its increased storage capacity, improved performance, and multiple layer security, it is a step up from the Ledger Nano S. It is also compatible with a wider range of cryptocurrencies, making it an attractive option for those looking to diversify their portfolio.
The Nano S Plus is also easy to use and portable, making it an excellent choice if you are always on the go. And while it may not have a touch screen or Bluetooth connectivity, its advanced security features more than make up for these limitations.
All in all, the Ledger Nano S Plus is an excellent option when you need to secure your digital assets.
Featured Image Credits: laptopmag.com