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What is Ledger Nano S Wallet?
Ledger Nano S is a hardware crypto wallet. Unlike most wallets which are digital-only, a hardware wallet comes in a physical form. Ledger Nano S looks like a typical USB memory stick that enables users to store their cryptocurrency.
Even though all cryptocurrency is kept on the blockchain network, a hardware wallet serves to create a security bridge to and from your hot wallet. This added layer of protection means your cryptocurrency gets locked in your wallet until you unlock it using your Ledger Nano S.
In case of a massive wallet attack, hackers may be able to steal funds from most wallets located on an exchange. However, by having a hardware wallet attached to your crypto account, your funds will be locked and safe from such attacks.
Ledger Nano S used to work with various crypto exchanges and wallets but later the company created its own exchange websites. Because of the popularity of their hardware wallets, Ledger released several versions of their crypto wallet, each one with additional features.
Ledger Nano S Company Overview
In 2014, eight people who were experts when it came to security and cryptocurrency decided to create a device that would add an extra layer of security to existing crypto wallets. These people formed the company: Ledger. Today, Ledger has over 800 employees and subsidiaries in Paris, Vierzon, New York, Zurich, and Singapore. Over five million Ledger hardware wallets have been sold across the world in over 200 countries.
The most popular out of all the models was the, very affordable, Ledger Nano S. Even though it has been discontinued in 2022 and replaced with an upgraded model (Ledger Nano S Plus) most users still use the older model name.
The hardware wallet, as well as the company itself, are universally praised for its quality, reliability, and security. Other than Trezor, Ledger is the preferred hardware wallet when it comes to keeping your cryptocurrency safe.
Pros and Cons of Ledger Nano S Wallet
- Does not store fiat currency (even if it is digital)
- Does not support all cryptocurrencies
- Not very mobile-friendly
How To Create a Ledger Nano S Account
Creating an account is easier than it sounds. Follow these simple steps in order to set up your account:
- Buy a physical Ledger Nano S hardware wallet.
- When the wallet arrives, download the Ledger Live app on a mobile device or PC.
- Open the app and create a new account.
- Set up your physical wallet (insert it into your PC or bring it close to your mobile device)
- Follow the instructions on the screen and finish setting up your wallet.
- Link your crypto wallet (hot wallet) account with your Ledger Live app.
Using Ledger Nano S in Online Casinos
If you are concerned about keeping your crypto safe while playing casino games, you are going to love the Ledger wallet. While the Ledger device won’t do anything radical to change the way how crypto online gambling works, it will keep your cryptocurrency secure.
Simply bring your device along on your next trip to an online casino, stick it in your PC/Mobile device, and you should be good to go. When you are done playing and withdraw your winnings, pull the device out and enjoy knowing that your funds are safe and sound.
Ledger Nano S supported cryptocurrencies
The Ledger Nano S supports over 100 different cryptocurrencies (which include over 1,000 different tokens). The wallet supports all the popular cryptocurrencies that we often see at online casinos, such as:
Users who need a more advanced device can pick the Ledger Nano X, an upgraded version of the Nano S with a display and support for over 5,000 tokens.
The Ledger Live PC app is the preferred way to store and manage your cryptocurrency. Even though the currency is held by the hardware wallet, it cannot be accessed without using the app. Users need to insert the ledger device into their PC (via USB) in order to access their crypto.
From there, they can decide whether they want to transfer, store, buy, sell, or trade their cryptocurrencies. When users are done, they can simply remove their devices from the PC and keep them secure.
The PC app works well and most users agree that it is the better of the two methods for managing your cryptocurrency.
Most users prefer to manage their cryptocurrency portfolio using their mobile devices. Unfortunately, this isn’t the preferred way to the Ledger Nano S device. The actual application is very limited when compared to the PC counterpart. There are also connection issues and other minor bugs and glitches, but nothing that would jeopardize the security.
Fortunately, since the Ledger Nano S Plus device was rolled out, mobile compatibility has been greatly improved so users should have fewer issues. With that said, the mobile app does allow users to access most basic features on their ledger nano. The mobile app should also be more than enough for playing at mobile online casinos.
Security is the biggest reason why you would want to own a Ledger Nano S. As previously stated when you link your crypto wallet with this device, it locks your crypto funds by locking them under new private keys. These keys, unlike private keys for hot wallets, do not exist anywhere online and, therefore, cannot be cracked.
Ledger uses their own operating system and secure element chips through their hardware wallets. Users always need to have the device ready before they can access their funds. When buying, selling, or trading, users may have to physically touch the device buttons in order to authorize transactions.
Simply put, Ledger devices keep your funds safe even if a hacker attack happens.
Ledger Nano X
The Nano X model is an upgraded version of the Nano S (plus). The main difference between the two models is that the Nano X supports Bluetooth, which makes connecting it to other devices easier. It also supports more types of cryptocurrency (with support for over 5,000 tokens).
Naturally, this device is pricier at $149. When it comes to online gambling, users don’t really need to invest in the Nano X since the Nano S provides everything they could want for online casinos.
Ledger Nano S Customer Support
The company Ledger truly believes in its product. So much so, that users have a 14-day, money-back guarantee if they don’t like the product. If there is a problem with the device, users can easily ship it get to the company to get a replacement.
If users need any other support, Ledger has email and live chat customer support available on their website.
What users like
The majority of users are extremely satisfied with Ledger Nano S and X devices. Many enjoy the extra layer of security that the hardware wallet adds. PC users also claim that using the Ledger Live application is easy and intuitive. Users are also extremely satisfied with the price. As far as the prices of crypto hardware wallets, the Nano S is the most inexpensive hardware wallet.
What users dislike
Before the device was discontinued in 2022, many users had issues with mobile phone compatibility. The Nano S initially didn’t work with iPhones so many users couldn’t use the device on the go.
Some also believe that the hardware wallet should be able to support more cryptocurrencies and other wallet applications.
Ledger Nano S Review Summary
This secure hardware device will give you everything you need to keep your cryptocurrencies safe even during mass wallet attacks. It works great with many hot wallets and it’s easy to use.
Online gamblers also enjoy the sense of security they get, especially when visiting new online casinos. If you wish to keep your cryptocurrency as secure as possible, you simply can’t go wrong with the Ledger Nano S
Is Ledger Nano S safe?
Yes, Ledger Nano S is extremely safe because it locks your cryptocurrency offline under private keys that are only available to you.
Is Ledger Nano S good for online casinos?
Ledger Nano S is good for online casinos if you need to keep your cryptocurrency even safer. It is a great companion when visiting brand-new online casinos because of all of its security features.
Is Ledger Nano S available in my country/region?
Even though the Ledger Live app is available worldwide, directly buying a Ledger device isn’t available in all countries. Fortunately, users can still buy the device through third-party retailers.
Is Ledger Nano S better than other hardware wallets?
Ledger Nano S is better than most other cheaper hardware wallets. When you consider the price and the functionality, its no wonder that the Ledger is so popular. While there are better and more secure wallets out there, there is no denying that the Nano S fits most crypto enthusiasts’ needs.