The Ledger Nano S wallet is a trendy hardware wallet worldwide. The manufacturer is already selling an updated version of this wallet, the Ledger Nano S Plus (affiliate link, you get free shipping anywhere for a limited time), so the older model has become much cheaper. Does this mean the Ledger Nano S is practically the most affordable way to secure digital assets?

Cryptocurrency exchanges are unsafe, and keeping more considerable funds on them can cause problems. It’s worth moving to a hardware wallet, the advantages of which are undeniable:

• Security: Hardware wallets like the Ledger Nano S provide the highest level of protection for your cryptocurrencies. They store your private keys offline, making them resistant to hacker attacks, which are a real threat in the case of cryptocurrency exchanges.
• Privacy: The Ledger Nano S lets you control your private keys fully. You decide when and where they will be used, significantly increasing your privacy.
• Versatility: The Ledger Nano S supports over 1000 cryptocurrencies, making it one of the most versatile devices on the market.
• Ease of use: Despite the complicated technology, the Ledger Nano S is easy to use, even for people without technical knowledge.
• Resistance to physical damage: The Ledger Nano S is durable and resistant to damage, so your cryptocurrencies are safe even in case of equipment failure.
• Portability: The small size of the Ledger Nano S makes it easy to carry, so you can always have your digital assets at hand.

This leads to an important question. Is it worth saving and buying a used wallet? How to protect yourself from scammers?

Is buying a used Ledger Nano S safe?

In theory, it’s easy to restore the device to factory settings. All you need to do is:

• Update the firmware software in Ledger Live, even if no new version exists. Make sure it comes from the producer’s site.
• Reset the Ledger Nano S and generate a new seed (24 words).
• Check carefully if the wallet shows no signs of tampering. It’s essential to check the software’s originality in Ledger Live. The program for the original software displays a green “Genuine Wallet” confirmation.
• Don’t use any provided “scratch cards” or other seeds or backups that came with the device. Then we can be sure that it is a scam attempt.

The wallet is not disposable and is designed to be used multiple times with different private keys.

The original Ledger wallet uses a secret key set during production. This provides additional protection against modification by scammers. Only such a device will connect to the Ledger server to verify the wallet.

In practice, however, there’s no 100% certainty. There’s a clever way to replace the software with one that will first evade the originality check by Ledger Live and secondly be able to send sensitive data from the offline wallet to the hacker. If you’ve encountered such a case, please send us such info. We will check it immediately and post it.

Where to buy a used Ledger Nano S wallet?

Auction portals, Amazon, and ads on industry forums are the most popular places to buy a Ledger Nano S. Generally, hardware wallets in Poland are overpriced.

The most popular place to buy a used LNS is currently eBay. The prices for Ledger Nano S start from $32-33 per piece. This is roughly half the price of the newer version of the wallet.

Ledger Nano S Plus is expensive when bought from resellers.

On the manufacturer’s website, the Ledger Nano S Plus, i.e., the newer one, can be purchased for $79. In this case, it’s worth waiting for free shipping (we cooperate with Ledger in promoting free shipping) or additional equipment at a better price.

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“What is the price of the Ledger Nano S? The wallet price was 59-79 euros from the manufacturer, plus tax. On auction portals, at least 10-20 dollars should be added to the cost of the Ledger Nano S.

Similarly, if you consider a reseller shop with the Ledger Nano S, the seller’s margin may be even higher than on an online auction due to higher costs. It is worth checking the Ledger Nano S prices on a price-comparing site.

Cryptocurrency wallet security begins… with shipping.

The plastic packaging that tightly closes a factory-new Ledger Nano S wallet is not any security guarantee, let’s face it. The creators are proud that mechanical protections are not needed, as each new user starting to use the wallet generates a unique setting that, kept secret, will provide an appropriate level of security.

This did not protect a few users from an unpleasant surprise. Dishonest sellers prepared a fake card for recording the seed as a scratch card, generating it earlier and recording it. The user must generate a new wallet; it’s worth remembering this. We never use seeds provided by others.

The Ledger Nano S cryptocurrency wallet enjoys good reviews. Whether bought on online auction or in the store, Ledger Nano S secures cryptocurrencies and allows you to invest peacefully.

Unpacking and appearance of the wallet

The wallet is safely packed with instructions and accessories. The foil-wrapped box contains the device, a USB cable, manuals, a key recording card, and add-ons.

Despite the small box, the manufacturer fits quite a lot in there. Essential accessories, such as a USB cable or the device itself, take up some space, and they managed to put a few pieces of paper, a lanyard with a pendant.

A Ledger Nano S for a reasonable price, bought on an online auction site or from the manufacturer, contains the same set of accessories. Ledger Nano S hardware wallet accessories are one of the advantages.

How easy is it to start using the Ledger Nano S wallet?

Ledger Live app is used to manage the wallet, which we install to configure the wallet. Before using the wallet, check if a software update is available. If so, the manufacturer recommends doing this immediately.

First, you need to generate a seed of 12 or 24 words. It is a backup copy of the wallet and security against losing funds. During the first connection, you must set a 4-8 digits PIN for Ledger Nano S.

Then we install applications for individual cryptocurrencies, starting with BTC, ETH, and others. Remember that you can install the application, transfer funds to the wallet and then uninstall the application to make room in the wallet. Uninstalling the app will not result in the loss of cryptocurrencies!

After turning on the Ledger Nano S wallet, you must secure the seed phrase and install the Bitcoin, Ethereum, and other apps. Remember to set up the backup and install apps for cryptocurrencies.

Daily use of Ledger Nano S

If we want to make a transaction, connect the Ledger Nano S to the computer via a USB cable and launch the application of the appropriate cryptocurrency after entering the PIN. The transaction interface is simple and intuitive.

Opinions on Ledger Nano S are also good due to the designed applications, which are simple and intuitive. On the screen, you can see the current prices of Bitcoin, the possibility of sending, and the account balance.

What cryptocurrencies are available in the Ledger Nano S wallet?

All the most important cryptocurrencies are supported.

Over time, new cryptocurrencies are added, especially new Layer-1 projects. The most popular ERC-20 tokens are added automatically.

Storing cryptocurrency wallet

Typically, the wallet should lie in a safe place. We avoid access by strangers and water, dust, and possible damage. You can buy unique, waterproof covers for the Ledger, used to protect the wallet, e.g., during a trip. Because we can recover the wallet from the seed, losing or destroying the device is not the world’s end.

The seed, which the manufacturer suggests writing on a card, must be better protected. The most sensible solutions are to write the seed in a text file and encrypt it with a solid password, then place it on a USB stick or hard drive as a backup. The security of the securing phrase then depends on whether we will remember the password.

The back of the Ledger Nano S bitcoin hardware wallet – Vires in numeris.

Pros and cons of the Ledger Nano S wallet

Opinions about the cryptocurrency wallet are excellent. It resembles a USB stick and is easy to use.

Pros of Ledger Nano S

• It looks like a USB stick, so it is less noticeable.
• Elaborate security and excellent customer service from the manufacturer.
• Simple and intuitive wallets and app management.
• Resistant to resetting and forgotten passwords.
• Refined design, modeled on Apple.

Cons of Ledger Nano S

• Not all available applications fit on it at once. We will fit only 3 to 5 of the most popular ones, such as Bitcoin or Ethereum. By uninstalling the application, however, you do not lose funds from the wallet, so you can keep all possible cryptocurrencies in one wallet.
• It is no longer sold in the official Ledger store, so the used wallet is unsuitable for storing digital assets worth a lot.
• The downside is also the look, according to some users, who care about an attractive appearance.
• It is still expensive compared to a paper wallet on a USB stick.

Opinions on Ledger Nano S

The community has been divided into two camps, one supporting Trezor and the other Ledger. Most users praise themselves for using Ledger, as only some things can spoil the experience of storing and using this wallet. Recently, the competition has grown by a few smaller manufacturers, but this fundamental dispute is still alive. The parties can, however, unite under the banner of promoting ​​security.

The support of the Ledger wallet manufacturer exceeds customer expectations and is incomparable to resellers.

Practical tips for those considering buying Ledger Nano S

As with other devices, you can get the Ledger Nano S cheaper on Black Friday, Cyber ​​Monday, and other promotions.

On the manufacturer’s website, you can regularly encounter promotions in the form of an additional Ledger Nano S wallet when buying more expensive Ledger Nano X wallets or a new Ledger Stax.

The prices of hardware wallets may seem high, but looking at the rising prices of cryptocurrencies, this will undoubtedly be a good investment: in technology, security, and peaceful sleep.”