The Ledger crypto wallet was created nine years ago and has change into probably the most popular hardware wallet brands. Its products are different from other crypto wallets, resembling Trust and Metamask, because Ledger sells cold wallets, which are not connected to the web 24/7. There are a lot of advantages to cold wallets, including stronger security in comparison with the vulnerabilities of hot wallets, that are liable to hacks and theft of assets.
If you wish to stop dealing directly with crypto exchanges or wish to keep your digital assets secure from scammers, keep scrolling to read this comprehensive review of Ledger crypto wallets.
Best crypto hardware wallet
Ledger wallets are a superb option for transferring cryptocurrency to a secure hardware device. All Ledger crypto wallets are certified as Common Criteria Evaluation Assurance Level 5+ (CC EAL5+) for security testing standards. In addition they use smart chips — much like bank cards and passports — which safely store your private key and digital assets.
Ledger crypto wallet devices are supported by the Ledger Live app, which you need to use to administer your assets. As a reasonable cold storage device with modern features which might be repeatedly improving, the Ledger crypto wallet is our pick for the very best crypto hardware wallet and among the many best crypto wallets overall.
Ledger crypto wallet pros and cons
- Supports over 5,500 coins and tokens
- Bluetooth-compatible
- Extensive library of educational resources
- The operating system is not open source
- Limited storage capability
Pros explained
Supports over 5,500 coins and tokens
Ledger’s crypto wallet hardware devices support one in all the biggest selections of cryptocurrencies and tokens amongst cold wallets. Along with supporting popular crypto resembling bitcoin, Ether and XRP, Ledger devices also allow you to store your NFTs safely offline. When you connect with Ledger Live, you can too use it as a crypto staking platform to earn returns in your cryptocurrency.
Bluetooth compatibility
The Ledger Nano X enables you to connect your hardware crypto wallet to your smartphone, making it much easier to administer your crypto when using Ledger Live and other apps.
Extensive library of educational resources
Ledger has a part of its website dedicated entirely to crypto education. The Ledger Academy covers all the things it’s essential know in regards to the crypto landscape, cold storage devices and online wallets and the way they differ by way of security. Its articles also cover topics related to NFTs, how crypto is taxed and the way blockchain systems work.
Cons explained
The operating system isn’t open source
Open source means anyone can access and study a program’s source code. Ledger hardware wallets are close-sourced, meaning the one entity that may inspect the software used on these devices is the Ledger Company itself.
There may be a purpose to this. If a Ledger hardware crypto wallet is compromised, it shouldn’t affect other devices. It also protects the corporate’s competitive edge, as other cold wallet designers can’t make the most of Ledger’s code.
Ledger Live and other external apps used with the device remain open source.
Limited storage capability
Due to limited storage, it’s possible you’ll only have the ability to make use of three to 4 apps at a time on a Ledger Nano S Plus. There are greater than 100 apps to select from, which will be inconvenient, especially when you could have to uninstall apps only to reinstall them later. Different apps even have diverse use cases, so limited storage can change into a problem.
Ledger crypto wallet offerings
Here’s an outline of the wallets Ledger offers, their purposes and customer rankings.
Ledger Stax
The Ledger Stax remains to be unavailable, but you possibly can pre-order it online in anticipation of its May 2023 release date. What makes the Ledger Stax different is its modern design. It goals to be way more portable and add more functionality than previous hardware devices.
The Ledger Stax will likely be smaller and roughly have the size of a debit or bank card. It can include a personalised lock screen, touch screens and wireless charging. The device can even be built with a sturdy mixture of aluminum and plastic, providing all the identical features because the Ledger Nano X.
Ledger Nano X
The Ledger Nano X has been the gold standard of crypto hardware wallet devices for years. It has been repeatedly improved and now includes Bluetooth functionality that enables you to connect with your smartphone and laptop devices with no need a USB cable.
Over 11,000 people have reviewed the Ledger Nano X on the Ledger website, contributing to its average rating of 4.4/5 stars (third-party rankings are similar). But overall, excluding Bluetooth availability, the Ledger Nano X is comparable to a less expensive alternative by Ledger, the Ledger Nano S Plus.
Ledger Nano S Plus
The Ledger Nano S Plus is probably the most reasonably priced Ledger hardware wallet. It scored 4.5/5 stars on Ledger’s website based on greater than 1,500 reviews. Third-party reviews reflect this positive rating, as well.
The Ledger Nano S Plus has a bigger screen than its predecessor model, the Ledger Nano S. This has made the device easier to navigate for anyone managing their crypto, NFTs and apps. The foremost drawback is that you would be able to’t connect a Ledger Nano S Plus device to iPhones or iPads. Nevertheless, you possibly can still use it with Apple Mac products through a USB port and other laptops and desktop devices.
Ledger crypto wallet pricing
Essentially the most reasonably priced Ledger crypto wallet model is the Ledger Nano S. It starts at just $87 and comes with USB ports, a walkthrough leaflet, a keychain and sheets on your recovery phrase. There are also five colours to select from: Matte Black, Bitcoin Orange, Ice Deepsea Blue and Mystic White.
The Ledger Nano X is barely costlier at $164. It’s also a tad heavier and comes with the identical accessories because the Nano S Plus. The foremost difference is its Bluetooth connectivity, which makes it compatible with smartphones. You possibly can select Onyx Black, Blazing Orange or Cosmic Purple on your color scheme.
The Ledger Nano Stax will retail for $308 when it releases in 2023, and is currently available for preorders. It’s barely heavier than the Nano X partially resulting from its larger, higher resolution E Ink® touchscreen. The Ledger Nano Stax comes with the identical accessories as the opposite devices, and the one available color for it’s Graphite.
Overall, Ledger wallets come at reasonable prices for devices with their level of security and functionality. That said, in the event you only have a small amount invested in crypto or digital assets, getting one in all these wallets is probably not value it for you.
Although we all the time try to incorporate accurate and up-to-date information, we don’t represent this information as complete or up thus far. We recommend you conduct your individual research.
Ledger crypto wallet financial stability
As a non-public company, Ledger doesn’t disclose its financial statements. Nevertheless, users can check its financial stability through sales by tracking the variety of devices sold. More specifically, Ledger has sold several million devices during its lifespan. Many retailers claim the corporate has been profitable for the previous couple of years.
Ledger has had no problem raising money from investors either. In line with the corporate, the last funding round was in 2021, when the firm raised $380 million from enterprise capital investors.
Ledger crypto wallet accessibility
The accessibility of crypto wallets plays a major role in user experience. Here’s how the Ledger crypto wallets rating on this area and which features they provide to prospective users.
Availability
Ledger crypto wallet devices can be found worldwide, with just a few exceptions resulting from government regulations and sanctions. You possibly can buy Ledger hardware devices from the corporate’s official website and in your local currency. PayPal and all major bank cards are accepted, and you can too pay through crypto payment firms, resembling BitPay.
Contact information
If you wish to contact the corporate, you possibly can go to the Ledger wallet support page on the web site and ask for help. There is a box you need to use to type in your issue and begin a chat to unravel your query. You may also find an intensive FAQ section below it which can have a solution to your query. If that does not work, you possibly can email or chat with a live representative — just note that live chat isn’t available 24/7.
User experience
The Ledger devices themselves don’t have any groundbreaking interface design or user-facing elements. They supply one solution thoroughly — safely securing crypto assets. Nevertheless, the Ledger Nano Stax could change that when it comes out.
Apps that integrate with Ledger devices, resembling Ledger Live, are generally well-designed. Your ledger device will likely be compatible with many apps that boast an easy-to-use interface, and the hardware crypto wallet itself is comparatively easy to operate.
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Ledger crypto wallet customer satisfaction
Ledger customers rate the Nano X and the Nano S Plus crypto wallets 4.4 stars and 4.5 stars out of 5.0 on the corporate’s official website. Trustpilot showed barely lower rankings, though these reviews reflected users’ views toward the corporate moderately than its products. Ledger scored 3.5/5 stars from greater than 1,400 Trustpilot reviews. Despite this, one in two customers were extremely satisfied with their purchases, as evident by the proportion of 5-star rankings.
Ledger crypto wallet FAQs
What’s a hardware wallet?
How does Ledger Wallet work?
Ledger crypto wallets are the answer for individuals who wish to keep their crypto assets in self-custody. You possibly can connect your Ledger device to a laptop with a USB or a smartphone through Bluetooth. From there, you possibly can transfer your crypto assets from a web based wallet to the Ledger hardware wallet in a secure way.
Is Ledger Wallet secure to make use of?
As a self-custody wallet, Ledger puts the responsibility of securing the assets onto the wallet owner, reducing its variety of vulnerabilities overall. The devices themselves are also designed to comply with high security standards to higher protect your assets. Nonetheless, Ledger suffered an information breach in July 2020, which leaked roughly a million email addresses and directly affected around 272,000 customers.
How we evaluated Ledger crypto wallet
When evaluating the Ledger crypto wallets, we took under consideration all their features and aspects that would affect its users, including:
- The security and security of the Ledger crypto wallet and the software it uses to guard digital assets
- The variety of digital assets that the user can hold and the crypto tokens not supported by alternative wallets
- Cost-effectiveness in comparison with other known options
- The general reliability and sturdiness of the wallet
- Its compatibility with other devices and ease of use
- General functionality and customization features
- Previous and existing customer reviews and satisfaction
Summary of Money’s Ledger crypto wallet review
Those that have just change into all in favour of self-storage for cryptocurrencies will discover a hot wallet a superb starting selection. Nevertheless, hardware wallets add an additional layer of security that those that have more assets and wish to guard them will appreciate.
As a good company in business for nearly a decade, Ledger is Money’s best crypto hardware wallet brand. The corporate’s wallets make sure the security of its users, supports many coins and tokens, provides vast educational opportunities and offers customer support every step of the way in which.
Ledger crypto wallets are also easy to make use of, and customer rankings show that many users are satisfied with most features of their devices.