Ledger Nano S plus

Basic Information

In 2014, the French company Ledger developed its first crypto wallet under the name Ledger Nano S. The development of the crypto world does not stop, so after a few years it decided to improve its old model. It can be said that it succeeded in doing so at a very affordable price.

Functionality

Ledger Nano S Plus is one of the possible options to safely store your cryptocurrencies including NFTs. The range of supported assets can suit beginners and more experienced users who like to diversify their investments into different cryptocurrencies, especially altcoins. This is also the reason why its purchase is worth it compared to the older Ledger Nano S, which didn't support as many altcoins. In the Ledger Live app, developed directly by Ledger, you can trade or view your NFT thanks to the cryptocurrency wallet. The app also offers a staking service option for some currencies, which brings additional interesting appreciation to your assets.

The security of the wallet is, as with other hardware wallets, secured by a 24-word seed, which is recommended to write down on the enclosed paper and store it. If it were to fall into the hands of a stranger, all of your crypto assets could be stolen. There is a question among the professional community about the security of this wallet, since it does not run on open-source software, unlike its competitors. To date, however, there has been no security breach, consisting mainly of a chip similar to the one on credit cards.

The wallet's shape resembles a larger metal USB disk. Unlike its sister model Ledger Nano X, it does not have Bluetooth, so it is necessary to connect using a cable. On the other hand, it does not have a battery, therefore it does not need to be charged. Although this is Ledger's newest model, Apple customers might be disappointed that the device doesn't support iOS.

Pros and Cons

Pros

Support for a large amount of crypto assets – there is a large amount of cryptocurrencies for everyone to choose from
Strong security and support from the manufacturer – Ledger has been in business since 2014 and has sold millions of wallets since then
Great price-performance ratio
Unobtrusive – an unfamiliar person would mistake the wallet for a USB disk
Integration with NFT and DeFi projects

Cons

Lack of iOS support
Relatively small screen

Supported Chains

The wallet supports more than 5 500 digital assets, including coins, tokens and NFT. The most well-known supported assets are clearly bitcoin, ethereum, ripple, tether USD, litecoin and polkadot. A large portion of the funds can be managed using the supported Ledger Live app; however, the Ledger wallet also supports software wallets (SW) and third-party apps.

A complete list of all supported assets is available here.

Tips from an Analyst

The vast majority of wallets provide perfect security with their technology to protect you from hackers of all kinds. However, what the manufacturers cannot provide is protection from yourself. That's why it's important to follow all policies and advice given by the manufacturer. The basic rules include not disclosing your private key or seed phrase to anyone, ordering the device only from the manufacturer's official website and never posting your seed anywhere on the internet. When you receive your wallet, you should check that it has not been tampered with.

Personal Opinion

Ledger Nano S Plus is one of the best-selling wallets on the market. It offers a great price for what you get. It presents a reliable device that allows you to store a large amount of assets while attracting an eye-catching price of around 89 USD (Jan, 2023). The wallet is suitable not only for newbies and novices to crypto, but also for those who are serious about investing in it.

Purchasing Ledger's latest model can only be recommended. It is a great investment for the vast majority of people and has received nothing but great reviews and satisfied users across the internet.