Here is a review of the three different kinds of hardware Bitcoin wallets made by the popular Bitcoin wallet company Ledger.
What Is Ledger Wallet?
The newcomer KeepKey may end up being a force to be reckoned with in the market in the coming future, but it is too pricey to compete with the Ledger Nano. Should Ledger be the brand that you go with to secure your hard-earned cryptocurrency? If so, which Ledger wallet should you get? Keep reading to learn more.
Three Available Ledger Wallets
This is the “elite” hardware Bitcoin wallet available. It costs a whopping $256 USD and is clearly seen as Ledger’s flagship product. This product is seen as something that only cryptocurrency aficionados with huge sums of cryptocurrency would buy and use. Even though most of you are unlikely to purchase this version, I will still go over the features.
- State of the art encryption. Anything and everything you store on the Ledger Blue will be secured with impossible to break encryption worthy of the $256 price tag. Rest easy knowing that your horde of Bitcoin or any other cryptocurrency cannot be hacked into and stolen.
- Has a touchscreen. The Ledger Blue looks and feels like a small tablet and is operated similarly due to a fully functional touchscreen. This makes it incredibly easy to operate the device and as I will mention later, you can even use other apps on it.
- Can connect to other devices via USB and Bluetooth. The ability to connect via Bluetooth gives the Ledger Blue a leg-up over its competition, although its competition are over 100 dollars cheaper than it. Still, having Bluetooth compatibility is very useful especially for those who hate having to deal with wires.
- Can load other applications without interfering with the main firmware. This means you can launch other applications on the Ledger Blue and easily add any other cryptocurrency that you have without disrupting your main wallet.
- Easy to carry around and has a cool design. Despite the price and all of the features and technology jam packed into it, the Ledger Blue is surprisingly light. You can easily bring this device with you wherever you go and it will not take much space or weigh you down.
- Maximum compatibility. You can safely store every important cryptocurrency on this device. Whether it be Bitcoin or Litecoin or Dogecoin or any other cryptocurrency, all of them will be protected.
And if somehow you lose your Ledger Blue and someone else finds it (or steals it), you will not have to worry about them accessing your funds.
Why? Because when you set up your Ledger Blue, you will have to assign a 4 to 8 character PIN code that you will have to enter to access your device every time you want to access it. The person who takes your device would have to try really hard to crack the code.
Ledger Nano S
The mid-range priced Ledger cryptocurrency wallet is the Ledger Nano S. It operates similarly to the Ledger Blue, but is obviously much less jam packed with technological features. You can only connect it to other devices through a micro-USB to USB cord, you can’t load other apps, and it has no touchscreen.
Instead, it has a quite nice and bright OLED screen to look at so you know what you are doing when pressing the side buttons on the device.
As far as security goes, the Ledger Nano S is no slouch. Just like the Ledger Blue, you will have to set a 4 to 8 character PIN key and enter that PIN every time you want to access the device. In addition to that, the Ledger Nano S utilizes Secure Element to protect any cryptocurrency transactions you make from hacking or any other kind of tampering.
The Ledger Nano hardware Bitcoin wallet is the most affordable hardware of its kind on the market. It is incredibly lightweight and is even thinner than most USB sticks. It is just a smartcard that gets inserted into a device’s USB port. No micro-USB to USB cords needed and no Bluetooth compatibility.
It is very simplistic, but when you look at the price, you will know why. This product is for people who do not have a lot of Bitcoins or other cryptocurrency but just need a secure offline place to store it.
The Ledger Nano has no interface on the device itself, but you use and operate it by plugging it into your computer and then installing the Ledger Nano plugin on the Google Chrome browser.
Even with its tiny price tag, the Ledger Nano offers you a great level of security. If you end up misplacing your Ledger Nano, your money won’t be lost (as is the case with all of the Ledger wallets). You can just buy a new Ledger wallet and use the Chrome plugin to put your money in the new wallet. Easy!
In addition to that, the Ledger Nano utilizes EAL5+ smartcard technology that many high-level businesses use to secure their transactions and other sensitive data. This product might be cheaply priced, but it was not cheaply made.
And here is the best part – all of your data is stored on the smartcard itself. Nothing is controlled or owned by another company or even Ledger itself. It is your wallet.
Purchasing Ledger Wallet
The Ledger Blue hardware Bitcoin wallet will cost you about 256 USD (or 229 euros). The Ledger Nano S will cost you about 65 USD (or 58 euros). And the Ledger Nano will cost you about 32 USD (or 29 euros). With such a low price for the amazing value that you get, do you see why I said it would be hard for the KeepKey (and even the Trezor) to compete?
Ledger Wallet Company Information
The Ledger Blue, Nano, and Nano S Bitcoin wallets are made by a company called Ledger. The company’s headquarters are in Paris, France, but they also have an American office in San Francisco, California.
Address for the Paris office:
35 rue du Caire
Paris, France 75002
Address for the San Francisco office:
Ledger Technologies, Inc.
121 2nd street – Suite 5
San Francisco, California 94105
Phone: +3 (396) 730-0171
E-mail Address: email@example.com
Ledger Wallet Verdict
I think all three of the Ledger Bitcoin wallets are very well-made and have incredible values (especially the two cheaper models). Ledger really knows how to give its customers a real bang for their buck and I imagine that the pricing of the Nano and Nano S makes it hard for Trezor to compete.
An unfortunate fact for Ledger is that they put so much technology in the Ledger Blue that it just had to have a high price tag, which means that it is not a very popular product. If you have the money and have large sums of cryptocurrency to secure, I really recommend getting the Ledger Blue.
It is the ultimate Bitcoin wallet hardware and has a beautiful smartphone-esque GUI that makes it incredibly simple to use. And while the Nano and Nano S lack a GUI, Ledger did make a really nice Google Chrome browser app to make using those devices easy as pie even for those who are not real good at using computers.
I strongly advise that, if you do not have a lot of Bitcoin or other cryptocurrency, you should take look at the Nano and Nano S.
After you review the features and the price of those, you should take a look at their competitors like Trezor and see if the lower price tag and the sacrifice of some technology makes them a better bargain. It all depends on your needs, really.