My review of the Ledger Nano
What is Ledger Nano
Ledger Nano is a smart card hardware wallet created by Ledger, a French startup (you can read more about them here). The Ledger Nano costs $31, which is a very nice price for a hardware wallet. The Ledger Nano is on the lower end of the price scale when you look at the competition, great for anyone who wants to secure their funds without breaking the bank. Nano is very similar in size to a USB drive, you would not notice the difference until you slide the usb part out and notice that it looks a little different.
The first thing that I noticed when I opened the box, was how it felt very similar to unboxing a cellphone. Inside the box you have the Ledger Nano, a security card (for extra security), a lanyard and some small accessories. When I first saw the Ledger Nano, I thought that I would like how it was built. The reason for this is part of it is based off of the HW.1 Wallet, which I was always worried about breaking. The good thing was my initial thoughts were off. Although they did incorporate part of the HW.1 Wallet, it is a lot better off. It is quite enjoyable to use, and feels nice in the hands thanks to it being made partly of metal. Not needing any cable to connect it to a computer is also a great plus, no need to carry a cable in you pocket in addition to your wallet. It is also quite light weight and small compared to the other Bitcoin hardware wallets that exist. From my experience, so far it definitely stands out from the competition and gives a few of them a run for the money.
Wallets that you can use it with
You can use your Ledger Nano with the wallet created by Ledger. The wallet is a chrome app, that runs on Windows (7 and higher), Mac 10.8 (and higher), Chrome OS and Linux. There are also other wallets that you can use your Ledger Nano with, such as GreenBits, Mycelium, Electrum, Coinkite and Copay. Although you can use your Ledger Nano with any of these wallets, I recommend setting your Ledger Nano up on a Ledger Starter or a secure computer for added security. The last thing you want is to think your wallet is secure when in fact it is weak. A false sense of security is just as bad as no security. If you are new to Bitcoin, I recommend using the wallet that is created by Ledger, it has a good interface, its easy to use, and if you have questions there is a great time supporting it.
There are two ways of setting the app up, one is more secure than the other. The more secure method is to use the Ledger Starter, which I wrote about here. I highly recommend setting up the wallet with the Ledger Starter or an offline computer. If you do not have either available, do not worry as you are still able to set up your Ledger Nano.
Setup Part 2 (optional)
Your Ledger Nano comes with a security card that adds an extra layer of security to your wallet. This added level of security is great, but it requires you to keep track of another thing. I like the security card, the design is nice but I do not like that I have to keep track of the security card if I want to send funds. Luckily you can pair your smart phone to your Ledger Nano so that you do not need to carry the security card around with you. I recommend pairing your phone with Ledger Nano as it makes it easier to use your Ledger Nano, after all your phone tends to be around you all the time. Below is a tutorial by the creators of the Ledger Nano on how to pair your smart phone to your Ledger Nano.
I am a big fan of the Ledger Nano, its low price makes purchasing it a very easy decision. It is a great device for someone looking to get into Bitcoin and anyone who want to secure their funds without breaking the bank. The form factor is very small, which is quite nice when it comes to bringing it with you. The one issue that I have with the small form factor is that I often have trouble connecting it with my computer as it does not always fit properly with the usb port. This results in the software locking itself as it thinks I removed the Ledger Nano. The solution to my problem was plugging the Ledger Nano into a usb hub as the Ledger Nano seemed to fit better. Other that problem with the size and using a similar design, I really enjoy using the Ledger Nano. It is the perfect hardware wallet for a beginner to Bitcoin who does not want to throw down a fair amount of money for something they have never tried before. That being said, it is not just for beginners, I will definitely be using it as my go to hardware wallet for my desktop/laptop. It’s the best wallet for the money that does not cut corners. I can’t wait to see what other products Ledger creates, they are definitely going to be great. Be sure to keep checking the site or subscribe! I have more reviews and content on its way.