Why is the Ledger Nano S such a Popular Choice?

Why is the Ledger Nano S such a Popular Choice?

By Benson Toti - min read
Updated 21 March 2023

The Ledger Nano S is the world’s most popular cryptocurrency hardware wallet, and is consistently listed as one of the top crypto wallets. Most crypto wallets are software. They allow you to store, send, and receive coins of various types. Some software wallets hold only one currency (like the Bitcoin Core wallet), and others support hundreds (like Exodus).

The Ledger Nano S directly supports only 41 virtual currencies, including Bitcoin (BTC) and Ethereum (ETH), but it does so in a way that no software wallet could ever do.

Ledger Nano S Key Features

The Ledger Nano S is all about security. Each device is protected with a user-selected PIN, which is not stored by the Ledger company. If your Ledger is stolen, 3 successive incorrect PIN attempts will erase the Ledger.

However, if you lose your Ledger Nano S, your coins aren’t lost forever. Just buy a new one and input the secret code you were given when you set up your very first Ledger. All of your coins will reappear, just as if this was the same unit you lost.

The Ledger can also provide instant access to crypto wallets and crypto platforms that would normally require you to input a password, or even your private key! Because your private keys are stored on the Ledger, the unit becomes something of a universal key, that gets you into your most important cryptocurrency platforms, with the click of a button.

Each coin you store on the Ledger Nano S is kept within an app downloaded by the device from Ledger software. You can’t store infinite apps, but if you run out of room, just delete one. When you download it again in the future, your coins will still be there.

ledger nano s popularity
ledger nano s popularity

Ledger Nano S Design and Quality

The Ledger Nano S is small, sleek, and impeccably designed. It looks like a product by Apple, and repeated use after months and years doesn’t seem to leave a mark. The Ledger has a smaller form factor than the Trezor hardware wallets and is generally more popular; though, the competitors offer many of the same features.

All in all, the Ledger Nano S is just about the best cryptocurrency wallet you could buy. It won’t meet all of your needs, but for long-term storage of valuable crypto holdings, there’s nothing better.



Featured image source: Pixabay