The world of crypto investing is an exciting place for first-time crypto buyers and advanced traders. But how can customers ensure their funds are safe online?
At Bitstacker, our highly-skilled team created this Ledger review to discover how a hardware wallet can be a great option for investors to keep their crypto secure. We’ll detail why you should consider owning one and the ins and outs of hardware wallets for cryptocurrency traders with small and large investments.
Ledger: Pros & Cons
- Plenty of coins supported
- Quick setup
- Lightweight product
The usability of the Ledger differs slightly depending on which one of their products that you go for. Ledger has a streamlined set of products with two main flagship crypto hardware wallets – the Ledger Nano X and the ledger Nano S. Both have a strong focus on portability, as in terms of size they are not much bigger than a USB stick.
Ledger is also known for having more beginner-friendly products that aren’t too complex to use. Additionally, the setup process for key storage and security is extremely quick and easy. The only real downside is the fact that the small screen makes things a bit more fiddly, but this is a price that has to be paid in exchange for the wallet begging physically small in size.
Ledger is one of the most well-known crypto wallet companies in the market. Our Ledger review discovered that whether you’re into margin trading crypto tokens or happy to purchase cryptocurrencies while they’ve seen a drop in the market value and are waiting for that price to rise. A cold storage option is perfect for your coin security and development in the crypto investment world. We took a look at two of the top choices of their hardware wallets to help you decide which option might be the better one for you and your crypto trading journey, depending on your budget and skill level.
Nano S Plus
Nano S Plus was designed for individuals who want to store a smaller amount of cryptos offline. It has a lower price tag than Nano X, but it comes with a simpler way to use it and less storage. Like Nano X, there is an easy way for customers both new to crypto investing and those who are more advanced to make the most out of their hardware wallet, as the process is pretty straightforward. So if you’re looking to keep your funds safe online without any hassle, the Nano S Plus is your best option.
You will also be able to store over 5,500 tokens, so worrying if the device won’t accept your chosen crypto is unlikely. It has a USB look that customers may like, but you may risk losing it if you’re not careful because it is so lightweight! And unlike the Nano S that could only be accessed by mobile apps on Android devices, limiting all Apple users who would want to go for the more affordable option. The Nano S Plus allows Android and iOS users. They will be able to access their funds on their devices in real-time to see how the value of their funds may have changed with the market.
The Nano X is the pricier cold storage option, but you’ll have double the amount of storage and more advanced features to look forward to. This includes a longer battery life where the Nano S Plus needed to be charged a lot sooner. You can also access the Nano X on your Android and Apple devices, which is perfect for customers who want to monitor their funds on the move with their phones. You can also use Bluetooth if you wish to access Nano X, which may be easier to transfer information or funds on the move. Still, it also leaves you at risk of other individuals using Bluetooth who could infiltrate your system.
In addition, our Ledger review found Nano X is just as easy to set up as Nano S Plus, and they both have incredible security features. One of them is a pin of at least four numbers, a recovery phrase that will show up on your device, not on mobile apps, where you can purchase or send crypto. You’ll need to physically touch a button on the device for it to process.
Who should use this hardware?
If you’re reading our review and think that a hardware wallet might suit you, we outlined some of the best candidates to give these devices a try. As the cryptocurrency world is evolving, there are more ways for customers to keep their funds safe, so why not consider a device to keep an eye on your digital coins offline.
Our Ledger review found that individuals who are beginners in the crypto industry should keep their portfolios safe from the start. You may have found a crypto exchange to buy and sell in the market more closely and want to hold onto these virtual tokens offline for added safety. At Bitstacker, we recommend that all crypto users take their funds’ security to the next level, no matter their skill level. Several top online exchanges with access to a software wallet are not that great for hackers who use the same internet connection. So knowing your savings are somewhere away from where you decide to trade can be the best decision to give you peace of mind.
Advanced crypto investors
For those who have had more time buying and investing in different crypto coins, you may be aware that wallets are the best way to store your coins. We discovered in this review that hardware wallets are the more secure option than software. You may be an individual with a large amount of crypto savings in your portfolio, so what better way to keep it out of harm’s way than taking it offline so only you know how to access it when and where you feel it is safe to do so.
Digital coin enthusiasts
And if you’re someone who may be used to using cryptocurrencies to carry out online transactions, this could be an excellent way to ensure your funds are safe before you purchase or sell with cryptos. Our Ledger review discovered that more people worldwide are using cryptocurrencies to transfer funds to locations globally. Your information is private, and so is how much crypto you have, why not take the extra step of security so whenever you decide to make a transaction, your device will be plugged in. Then as soon as you’re done, it will have no location online.
When making your purchase directly from the Ledger website, you will find that there are four payment methods that you can use at the checkout. When it comes to credit cards, Ledger will accept Visa, Mastercard and American express. Additionally, customers can also use PayPal to buy Ledger products, which is something that we would recommend ahead of using your credit card directly.
When it comes to cryptocurrencies, you can use Bitpay, but only for BTC and BHC transactions, other coins are not supported. Most recently, Ledger added Crypto.com to its list of payment methods for users in a limited number of companies. This allows you to make purchases using a larger number of coins at the Ledger checkout.
When it comes to customer service Ledger makes use of the excellent FAQs section first and foremost. This is fine by us as the articles contained here are detailed and even some niche issues appear to have been covered, as well as all of the most common ones. If you do wish to speak with someone, then the live chat is available 247 via a widget on the website. With the live chat, you will need to answer a few questions before being given a ticket and getting put in a queue.
For us, the best way to reach Ledger is via one of their many social media channels. They have a dedicated support channel on Twitter, as well as video guides, podcasts and tutorials on YouTube. Additionally, you can also find Ledger on Facebook, Reddit, Instagram and TikTok.
If you’re still wondering, are hardware crypto wallets safe? We highlighted a few key benefits for customers who decide to use one to enhance their crypto journey. Firstly, as mentioned in this Ledger review, hardware wallet users will have additional security that ensures their cryptocurrencies will not be susceptible to third party interferences. Whether you’re a beginner or advanced in crypto investing, this is a perfect way to keep your assets safe offline.
Ledger is always developing their systems and design, so what used to be the Nano S has evolved into the Nano S Plus for customers who want access to more digital coins and tokens and a simplified way of keeping their funds safe. These devices are lightweight, making them perfect for carrying around like a USB.
Customers who use hardware wallets for cold storage will also be less vulnerable to computer hacks over internet connections. The more the crypto market develops, the more companies work to ensure they will not target your information. This can be difficult as every exchange platform and hot storage wallet needs internet access, so having this offline option is a bonus.
Disadvantages of using Ledger wallets
In addition to all the benefits of having an offline wallet, there are also risks to consider. You could still be wondering, is Ledger safe for me or is it just an excuse to spend more money. Some individuals believe that when it comes to cryptocurrency lending or crypto transactions online in general, we shouldn’t worry about using offline storage as cryptos work on blockchain technology. Some also believe that if you buy a hardware wallet, you’ll need to keep tabs on what password, pin and recovery phrase you’ve used to access the wallet. If you lose this information, it will be nearly impossible to access your funds.
In addition, our Ledger review discovered some crypto enthusiasts would prefer a software wallet in a similar place to where they use a crypto exchange. If you lose the USB-like wallet, you won’t be able to retrieve all the cryptos you had saved. Another disadvantage is that these wallets cost money. It may seem pointless for beginner traders who may not want to invest more as they only have a small range of cryptos under their belt.
Overall, we found that customers who decided to purchase a hardware wallet had a more secure experience when buying and selling using cryptocurrencies online. Our Ledger review provided an in-depth look into why Ledger is one of the most popular hardware wallet distributors for customers new to crypto investing and those who are more skilled. The advantages of owning a cold storage crypto wallet outweigh the negatives. Although it may cost you some money, that is nothing for keeping your funds in a safe place away from hackers and internet viruses.
We recommend customers looking to take their crypto usage online to the next level consider buying a Ledger hardware wallet, no matter how secure your online crypto platform may be. You wouldn’t have to worry about how much money you have invested in crypto, as these wallets will significantly reduce the risk of theft.
If you’re interested in knowing more about hardware wallets or more to do with crypto exchanges comparison reviews, check out Bitstacker for the latest news.