Ledger Nano S Plus Review: Secure Hardware Wallet for Crypto

Cryptocurrency wallets are the cornerstone of digital finance, acting as the bridge between you and your crypto assets. Whether you’re investing in Bitcoin, trading Ethereum, or exploring the world of altcoins, a secure wallet is essential to manage and protect your digital wealth.

In simple terms, a cryptocurrency wallet is a digital tool that allows you to store, send, and receive cryptocurrencies. Unlike traditional wallets that hold cash or cards, crypto wallets don’t physically store your coins. Instead, they safeguard your private keys—unique codes that grant access to your cryptocurrency on the blockchain. Without these keys, your assets are inaccessible, making wallets a crucial security system.

From hot wallets designed for quick transactions to cold wallets offering maximum security, the variety of wallet types can be overwhelming for newcomers, especially when there are a bunch of good wallets out there. In this guide, we are particularly reviewing Ledger’s one of the most popular crypto wallets, Ledger Nano S Plus, and by the end of this guide, you will probably want to order it right away.

1. Design and Build Quality

The Ledger Nano S Plus is compact, lightweight, and built to last. Its sleek, USB-stick-like design makes it easy to carry in your pocket or bag. The outer shell is made of stainless steel, which protects the device from physical damage and wear over time. Despite its robust build, the device weighs only 21g, making it highly portable.

One of the standout features of the Nano S Plus is its larger OLED screen, which allows for better visibility when confirming transactions or setting up your wallet. The screen is bright and sharp, offering a smooth user experience. The two physical buttons on the device, used for navigation and confirmations, are responsive and easy to press, making the device easy to use.

The device connects via USB-C, ensuring fast and reliable data transfer. This upgrade aligns it with modern devices, eliminating the compatibility issues often faced with older USB ports. While it lacks the premium touchscreens of more expensive options like the Ledger Stax, the Nano S Plus keeps things simple and practical. Its design prioritizes function and durability, making it an excellent choice for users who value reliability over flashy extras.

The Ledger Nano S Plus is also available in multiple colors, and I particularly love the matte black and gold options as they give a luxury look to the wallet. 

Also Read: Coinpanda Review: The Ultimate Solution for Crypto Tax Reporting

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2. Ease of Setup

Setting up the Ledger Nano S Plus is designed to be user-friendly, even for individuals who are using something like this for the first time. Upon unboxing, the wallet includes clear instructions, a USB-C cable, and recovery sheets to guide users through the setup process. You start by connecting the device to a computer or smartphone via the USB-C cable and downloading the Ledger Live app—the central hub for managing your wallet.

The setup process focuses on security, requiring users to create a PIN code on the device itself. This PIN acts as a first layer of protection against unauthorized access. Once the PIN is set, the device generates a 24-word recovery phrase. This phrase serves as a backup to restore your wallet in case the device is lost, stolen, or damaged. This recovery phrase is important and needs to be safely stored in a secure locker and on paper.

The Ledger Live app provides step-by-step guidance for installing firmware updates and adding apps to manage specific cryptocurrencies. Each blockchain requires its own application, which can be easily installed through the app. The software’s intuitive interface minimizes confusion, even for those unfamiliar with hardware wallets.

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3. Security Features

Security is the hallmark of the Ledger Nano S Plus, making it a trusted choice among cryptocurrency users. At its core is the Secure Element (SE) chip, certified at CC EAL5+, which provides a hardware-based vault for storing private keys. This level of security is comparable to that used in banking and payment systems, ensuring robust protection against hacking attempts.

The device’s offline nature is its greatest advantage. By keeping private keys stored securely within the hardware, it eliminates the risks associated with online wallets, such as phishing attacks or malware. The PIN code adds an additional layer of security, ensuring that even if the device is lost or stolen, unauthorized users cannot access its contents.

A standout feature is the 24-word recovery phrase, which acts as a fail-safe for regaining access to funds. This recovery phrase ensures users retain control over their assets even if the device itself is compromised.

The proprietary BOLOS (Blockchain Open Ledger Operating System) further enhances security by isolating applications on the device. This architecture minimizes the risk of one app compromising another. Besides, Ledger brings in more confidence by offering transparency and allowing developers and security researchers to look into their open-source firmware and rate their software’s integrity.

For those prioritizing asset security, the Ledger Nano S Plus sets a high standard, making it a dependable choice.

Also Read: Ledger Nano X: Premium Pocket-Friendly Crypto Wallet

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4. Supported Assets

The Ledger Nano S Plus supports an extensive range of cryptocurrencies, making it one of the most versatile hardware wallets available. With compatibility for over 5,500 digital assets, including major coins like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and a plethora of ERC-20 tokens, it caters to both mainstream and niche cryptocurrency users.

One of the standout features is its ability to handle decentralized finance (DeFi) tokens and NFTs (non-fungible tokens). Users can manage these assets directly through the Ledger Live app, ensuring seamless integration between the wallet and the broader blockchain ecosystem. For lesser-known cryptocurrencies, the Nano S Plus can connect to third-party wallets, providing unparalleled flexibility.

The device’s support for staking adds another layer of functionality. Enabling users to stake cryptocurrencies like Tezos (XTZ) and Polkadot (DOT) opens up opportunities for earning passive income directly from the wallet. This feature appeals to advanced users looking to maximize their portfolio’s potential.

Ledger’s commitment to expanding asset compatibility ensures that users can confidently manage their portfolios as the crypto landscape evolves. Whether you hold popular coins or explore emerging projects, the Ledger Nano S Plus has you covered, making it an excellent choice for diversifying your holdings.

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5. User Experience

The Ledger Nano S Plus delivers a seamless and intuitive user experience thanks to its integration with the Ledger Live app. The app’s clean interface provides a centralized platform for managing multiple cryptocurrencies, monitoring portfolio balances, and initiating transactions.

The enhanced display on the Nano S Plus significantly improves the on-device experience. Users can view transaction details clearly, reducing the chances of errors when confirming addresses or amounts. The physical buttons, while simple, offer a secure way to interact with the device. Although some users may prefer touchscreen functionality, the tactile buttons ensure deliberate actions, enhancing security.

Navigating through the Ledger Live app is straightforward, even for newcomers. Features like asset tracking, staking, and NFT management are well-organized, ensuring that users can easily access the tools they need. Regular updates to both the app and firmware demonstrate Ledger’s commitment to improving the user experience.

One potential downside is the reliance on a wired connection. While USB-C ensures fast and stable communication, users accustomed to wireless devices may find this limiting. However, this choice aligns with Ledger’s focus on security, as eliminating wireless connectivity reduces potential attack vectors.

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6. Storage Capacity

The Ledger Nano S Plus addresses a common pain point from its predecessor by significantly increasing storage capacity. It can now support up to 100 applications simultaneously, a notable improvement that eliminates the need for constantly uninstalling and reinstalling apps to manage different cryptocurrencies.

This expanded capacity is particularly valuable for users with diverse portfolios, as it allows them to manage a wide range of assets without interruptions. For advanced users engaged in DeFi or NFT transactions, the ability to keep multiple blockchain apps installed is a game-changer.

Ledger’s focus on future-proofing is evident in this design choice. As the crypto ecosystem grows, the expanded storage ensures that the Nano S Plus can accommodate emerging technologies and new blockchain apps without compromising performance. This improvement positions the device as a versatile and long-term investment for crypto enthusiasts.

Also Read: Ledger Flex Review: A Premium Wallet for All Your Crypto Assets

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7. Pricing and Value for Money

Priced at approximately $79, the Ledger Nano S Plus offers excellent value for money. It combines premium security features, extensive asset support, and a durable design, making it accessible to both beginners and experienced users. There are often holiday deals such as $30 worth of bitcoins with purchase or discounted pricing. So, be sure to check out the deal while you order the Ledger Nano S Plus.

Compared to its sibling, the Ledger Nano X, the Nano S Plus provides a cost-effective alternative without sacrificing core functionalities. While it lacks Bluetooth connectivity and a built-in battery, these omissions are justified by its lower price point and focus on security.

For the features it offers, including support for staking and NFTs, the Nano S Plus stands out as one of the best hardware wallets in its price range. Its affordability ensures that users can secure their digital assets without overspending, making it an attractive option for anyone entering the crypto space.

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8. Battery and Connectivity

The Ledger Nano S Plus does not feature a built-in battery, operating solely through a USB-C connection. This design choice eliminates the need for charging, ensuring the device is always ready for use when connected to a computer or smartphone. However, it also limits portability, as users cannot access the wallet on the go without a wired connection.

While some users may prefer the convenience of wireless connectivity, the lack of Bluetooth ensures enhanced security. By eliminating potential vulnerabilities associated with wireless communication, Ledger reinforces the Nano S Plus’s position as a highly secure hardware wallet.

Also Read: Ledger Stax: Premium Crypto Wallet for Serious Investors

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9. Software and Firmware

Ledger’s proprietary BOLOS operating system powers the Nano S Plus, ensuring a secure and efficient platform for managing cryptocurrencies. The software isolates applications, preventing unauthorized access and maintaining the integrity of stored data. This innovative approach enhances the wallet’s overall security.

The Ledger Live app complements the hardware with a user-friendly interface that simplifies tasks like sending and receiving funds, staking, and monitoring portfolio performance. Regular updates to both the app and the firmware ensure compatibility with emerging cryptocurrencies and evolving blockchain technologies.

Firmware updates are straightforward and guided through the Ledger Live app, which notifies users when new versions are available. These updates are crucial for addressing vulnerabilities and adding new features, demonstrating Ledger’s commitment to continuous improvement.

For users seeking a secure and reliable software experience, the Nano S Plus delivers on all fronts, cementing its position as a top-tier hardware wallet.

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Final Verdict: A Secure Hardware Wallet for Your Crypto Assets

The Ledger Nano S Plus strikes an impressive balance between security, functionality, and affordability, making it one of the best hardware wallets on the market today. Its robust design, expanded storage for up to 100 apps, and support for over 5,500 cryptocurrencies ensure it meets the needs of diverse investors. Whether you’re a beginner exploring crypto for the first time or an advanced user managing a multi-asset portfolio, the Nano S Plus delivers unmatched reliability.

Ledger has prioritized security with this wallet, incorporating a Secure Element chip and offline storage to protect private keys. The lack of Bluetooth and reliance on USB-C connections further enhances its safety, catering to users who value a closed, secure system. The integration with the Ledger Live app makes it easy to manage assets, stake cryptocurrencies, and even handle NFTs, all from a single platform.

While it doesn’t have the wireless convenience or premium features of models like the Ledger Nano X or Stax, the Nano S Plus excels in delivering essential tools at a reasonable price. For users seeking a dependable, no-frills wallet, the Nano S Plus is an excellent choice that balances simplicity and sophistication without compromising on security.

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Frequently Asked Questions [FAQs]