Ledger Nano S Plus Review 2022
- 1 First Impression
- 2 Setting up the Ledger Nano S Plus
- 3 Ledger Nano S Plus Handling
- 4 Supported cryptocurrencies and devices
- 5 Documentation and Support
- 6 Security aspects of the Ledger Nano S Plus
Ledger launched its latest hardware wallet, the Ledger Nano S Plus, in April 2022. This model is located between the Nano S and Nano X models in terms of price and functionality. The Ledger Nano S Plus makes the iconic bestseller Ledger Nano S DeFi and NFT friendly and ready for Web3.
Everything you need to know about the new model can be found in this review.
Buy Ledger Nano S Plus online
The Ledger Nano S Plus is best ordered directly from the manufacturer in the online store. This is currently available there at a price of 119,00 € (click here to check the current price).
It is also possible to order through an official reseller.
Hardware Wallets should preferably be ordered directly from the manufacturer or official resellers if possible. Dubious stores or private sellers on platforms like ebay or amazon could manipulate the devices for their own purposes or trick the buyer. This way, the thieves can steal all the coins from your hardware wallet at a later time. Unfortunately, there have already been such cases in the past.
What’s in the box?
Included with the Ledger Nano S Plus is the hardware wallet, a USB-C to USB-A cable to connect to your computer, an introductory brochure, 3 pieces of paper to write down your backup, and a keychain strap.
Ledger Nano S Plus
The Ledger Nano S Plus itself measures 62.39 x 17.40 x 8.24mm and weighs just 21 grams. The outer shell is brushed stainless steel and the inner part is plastic. The new certified safety chip ST33K1M5 (CC EAL5+) is installed. The display is a 128×64 pixel display. The hardware wallet is operated via two buttons on the top of the hardware wallet.
Setting up the Ledger Nano S Plus
Never use a hardware wallet that is already set up. You must choose your own PIN code or password and do the backup yourself. This is not given by anyone!
Setting up the Ledger Nano S Plus is straightforward. As with the predecessor models, you first go to www.ledger.com/start and are then guided through the following three steps.Start setup
Set up as a new device
To do this, you connect the hardware wallet to the computer on which you have installed the Ledger Live software. Then navigate to the “Set up as new device” item on the hardware wallet and confirm the selection by pressing both buttons. If you want to import an already existing Recovery Seed instead, this is also possible.
Select PIN code
To protect the device, a PIN code is now set so that only authorized persons can access the device. This can be between 4 and 8 characters long.
Recovery Seed note
The 24-word recovery phrase is now displayed word by word on the Ledger Nano S Plus screen. This issue occurs only once and represents the backup of the hardware wallet and thus all associated Kryptowährungen. Optionally, it is possible to check the recovery seed by entering the 24 words. This is generally recommended, as it eliminates the possibility of incorrectly noting the recovery seed.
Your Recovery Seed is the backup key to all your cryptocurrencies and apps. The Recovery Seed (backup) can only be viewed once. Never make a digital copy of the Recovery Seed and never upload it online. Keep the Recovery Seed in a safe place, ideally also safe from fire and water. Special backup products, for example Cryptosteel Capsule or Billfodl are suitable for this.
No one but yourself can be held liable for any financial losses caused by improper handling of sensitive data.
The device is thus successfully set up. Now apps can be installed and accounts can be added to Ledger Live.
Ledger Nano S Plus Handling
The Ledger Nano S Plus can be used in everyday life via a PC with the Ledger Live app or via a smartphone. However, the connection is only made via cable, as the hardware wallet does not have Bluetooth connectivity in comparison to the Ledger Nano X.
The Ledger hardware wallet securely stores the private keys and allows you to access your Kryptowährungen. The corresponding apps on the Ledger Nano S Plus are required for this access. These can be installed via Ledger Live, for example, the Bitcoin app can be installed to manage Bitcoin accounts. There is room for about 100 apps on the Ledger Nano S Plus. However, apps can be uninstalled and reinstalled at any time if necessary. The private keys remain secure on the device and backed up on the recovery slip.
Once the appropriate app for the cryptocurrency is installed, accounts can be added. In this regard, most cryptocurrencies are integrated with Ledger Live, while others rely on third-party applications. The supported wallets of a cryptocurrency can be found in this list: Supported Crypto Assets
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Manage NFTs in Ledger Live
With the Ledger Nano S Plus and the latest Ledger Live version, NFTs can now be conveniently managed. The prerequisite is the installed Ethereum (ETH) or Polygon (MATIC) app. If you now open a corresponding account, the NFTs appear and can be displayed directly in Ledger Live.
Supported cryptocurrencies and devices
The Ledger Nano S Plus is compatible with the following platforms:
- Chrome OS
Furthermore, over 5500+ crypto assets are supported, including the following:
- Bitcoin Cash
- Ethereum Classic
- ERC-20 Tokens
- Bitcoin Gold
- Bitcoin Private
- FIC Network
- POA network
The constantly updated list of all supported crypto assets can be found here www.ledger.com/supported-crypto-assets.
It also supports numerous third-party tools and websites. Among them are the following:
- BTC direct
- SSH Agent
- Password Generator
Documentation and Support
Ledger offers an extensive support area, which is now also available in different languages. In addition, support is available through various channels such as Twitter, Reddit, Instagram or email. However, due to the large number of inquiries, there are often long waiting times.
Security aspects of the Ledger Nano S Plus
Like any hardware wallet, the Ledger Nano S Plus ensures that private keys are generated securely on the device and do not leave it. This provides a very high level of security compared to software wallets.
In general, the security of the Nano S Plus can be compared with the Nano X. Both use the same components, except that the Nano X also has a battery and Bluetooth for better mobile compatibility. Bluetooth connectivity in particular theoretically offers the possibility for other attack vectors, which is why the Ledger Nano S Plus can score here.
The Ledger Nano X has received the CSPN certificate (first level security certificate) issued by ANSSI (National Agency for Information Systems Security). Since the same components were installed, this is transferable to the Ledger Nano S Plus. The certification report can be viewed online here.
FAQ 7Ask your own question
That is not a problem. You can restore your accounts to a new hardware wallet using the recovery key you wrote down when you set it up.
Most wallets support more than just one cryptocurrency, but only generate one backup. Nevertheless, this one backup is sufficient to restore all cryptocurrencies as all private keys of the different wallets result from the seed that is backed up as a backup during setup.
Hardware Wallets such as the Ledger Nano X, TREZOR Model T, BitBox02 or KeepKey all work according to the same principle. They are a special form of a so-called wallet, which is used to manage cryptocurrencies. A hardware wallet is a physical device that securely and inisolationly generates the private keys to the cryptocurrencies. Due to the extra hardware, they have some advantages over software wallets:
- Private keys are often stored in a protected area of a microcontroller and cannot be transferred out of the device in clear text.
- Hardware wallets are immune to computer viruses that steal from software wallets.
- They can be used securely and interactively, private keys never need to come into contact with potentially vulnerable software.
- The software is in most cases open source, so that the user or professionals can validate the entire operation of the device.
However, it is important to understand that hardware wallets are an attractive target for attackers and depend on several assumptions to maintain security. They are not a miracle weapon, and there are several realistic ways to hack a hardware wallet Especially if someone has physical access to the device.
A new cryptocurrency is rarely supported directly by a hardware wallet at the beginning. However, most providers such as Ledger or TREZOR are constantly working to support new cryptocurrencies. Therefore, it is often worth waiting until the desired currency is supported by your hardware wallet.
Are my cryptocurrencies stored in the hardware wallet, or where exactly are they? This is a very good question because the answer defines what your wallet actually needs to protect.
Cryptocurrencies are so named because they are secured by cryptography. For this you need a set of digital keys, for example your (very secret) private key. With this key you can encrypt and digitally sign things.
Let’s take Bitcoin as an example (other cryptocurrencies work in a similar way). The entire Bitcoin network is kept up to date by a common data structure called the blockchain. It contains records of all transactions ever made and is publicly accessible online, so anyone can read it. When you receive some bitcoins, say 0.1 BTC, you see them in your bitcoin wallet, listed under a bitcoin address.
At the same time, the bitcoins are not actually stored in the wallet, they are just an entry in the public blockchain. What the wallet stores is your secret private key that belongs to that address. Since you control that private key, you can spend those Bitcoins again: that’s how “Bitcoin ownership” is defined. Anyone can see these bitcoins, but only you can spend it, so they are yours. But that also means that *anyone* with the right private key can spend those bitcoins. Therefore, it is very important to keep this key secret.
What stops the manufacturer of your hardware from using a backdoor and simply stealing your cryptocurrencies? How much do you have to trust hardware wallet manufacturers?
While a completely “trustless” solution is probably not possible, manufacturers are doing everything they can to minimize the need to trust them.
Most of the software code of many hardware wallet manufacturers is open source, i.e. publicly available. Anyone can check how the device works and how secrets are handled. Of course, not everyone has the ability to review code: that’s why independent researchers are often encouraged to analyze, and are often rewarded by bug bounty programs when they find something. This does not limit their ability to publish a full independent report without permission.
The essentials to go: A wallet manages your secret private keys and requires full access to them. You can and should demand full transparency about how a wallet works and ensure that independent public audits are encouraged.
If you’re in the crypto space, you’ve probably come across the acronym NYKNYC. This stands for “Not your keys, not your coins” and is a basic and important rule for dealing with cryptocurrencies. But what does it mean and what can you learn from it as a cryptocurrencies user?
The phrase “Not your keys, not your coins” refers to the fact that you must have the private keys for your cryptocurrencies. The person who holds the private keys decides how the crypto assets associated with them are spent. This means that if you do not own them yourself, you trust a third party not to transfer them against your will. This is the case, for example, when storing cryptocurrencies on an online exchange. Here, the private keys are held by the operator of the exchange.
However, possession of the keys also means that you yourself are responsible for its security. Therefore, there are hardware walletthat ensure secure generation and storage of private keys.
A more widespread manufacturer is Ledger. Their devices, like those of all other manufacturers, store the private keys without ever revealing them to the computer or smartphone. This means that even a hacker with access to the PC would not have access to the valuable cryptocurrencies. Ledger uses only the highest quality security chips, known as Secure Elements, to withstand even the most sophisticated physical attacks on Ledger hardware wallet.To the Ledger Hardware Wallets
Ask your question about the product. The question will be published here together with the answer after a few days. You will be notified by e-mail.
|Compatibility||Mycelium, Metamask, Rainbow.me, BTC direct, Mercuryo, MyEtherWallet, FIDO/U2F, Bitstamp, SSH Agent, Password Generator, OTP|
|Cryptocurrencies||Bitcoin, Tezos, Monero, Ethereum, Litecoin, Dogecoin, Zcash, Dash, Stratis, Ripple, Komodo, Bitcoin Cash, Ethereum Classic, ERC-20 Tokens, PoSW, ARK, Expanse, PivX, Vertcoin, Viacoin, NEO, Bitcoin Gold, Stellar, Hcash, DigiByte, Qtum, Bitcoin Private, ZenCash, Nano, Nimiq, Peercoin, Zcoin, Tron, Ontology, Hycon, Pirl, Akroma, Vechain, Icon, Stealth, Woleet, Wanchain, Kowala, Particl, Rootstock, Waves, Rise, FIC Network, EOS, POA network, IOTA, Lisk, Musicoin, Factom, Gamecredits, MIX, ethergem|
|Platform||Windows, Linux, Mac, Android, Chrome OS|
|FIDO U2F Authenticator|
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