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In spite of their name, cryptocurrency wallets don’t work like traditional wallets where you “store” your money. On the other hand, crypto wallets hold encryption or private keys that are linked to a blockchain, which is where your cryptocurrency is truly “stored.”
The Ledger Nano S Plus is a hardware or cold wallet that allows you to store your cryptocurrencies with little to no risk of software attacks that could compromise your assets.
- It is one of the most recent Ledger brand products, due in Q1 2022.
- This model is the successor to the previous Ledger Nano S model, and it has more features than its predecessor but not as many as the Ledger Nano X model.
Cost: $79
Supported platforms: Mac, Windows, Linux, and Android.
Cryptocurrencies: 5500+
Wallet type: Hardware/Cold
Pros
- Has a sleek design and can easily be stored with your other devices.
- Supports a plethora of over 5500 cryptocurrencies.
- Has 1.5MB of storage and can support over 100 cryptocurrency apps.
- Supports NFT
Cons
- Does not support iOS devices.
Ledger Nano S Plus History and Background
Ledger was started in 2014 in Paris, France, in response to the growing crypto economy and users’ demands for a safer way to store their crypto. To meet this need, eight experts with backgrounds in embedded security and cryptocurrencies came up with a way for users’ private keys and funds to be stored safely. They did this by making hardware wallets.
Over the years, the Ledger brand has shown off many different products under the name “Ledger Nano,” which now supports thousands of cryptocurrencies.
What is in the Box
Included in the box with the Ledger Nano S Plus, you will find:
- USB-C to USB-A cable
- Introductory brochure
- Keychain Strap
- Three notepads to write your recovery phrase
Supported Cryptocurrencies
The Ledger Nano S Plus supports over 5,500 different cryptocurrencies, including the mainstream coins like Bitcoin (BTC) and Ethereum (ETH), as well as different NFTs. In addition to that, the Ledger Nano S Plus allows third-party tools and websites like Metamask and Mycelium.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Tether (USDT)
- Polkadot (DOT)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Binance Coin (BEP20) (BNB)
- EOS (EOS)
- Tezos (XTZ)
- Stellar (XLM)
- SHIBA INU (ERC20) (SHIB)
- LINK Chainlink (LINK)
- Compound (COMP)
- Cardano (ADA)
- Tron (TRX)
- Leo Token (LEO)
- Monero (XMR)
The Ledger Nano S Plus works well with these platforms:
The Ledger Nano S Plus is compatible with the following platforms:
- Windows
- Android
- Linux
- Chrome OS
- Mac
Setting up the Ledger Nano S Plus Wallet
To start using the Ledger Nano S Plus, you must have two things:
- Either a computer or a portable gadget.
- The Dedicated Ledger Applicationnew
When you do, adhere to these guidelines to set up your Ledger Nano S Plus:
The steps to setting up the Ledger Nano S Plus Wallet:
To begin, use the included USB cable to connect your Ledger Nano S Plus to your dedicated device; supported devices include Android phones and desktop computers
You must download the Ledger Live software once you have your device.
After installing, go to the hardware wallet and select "Set up a device," then confirm your choice by pressing both buttons.
Following that, you must create your PIN code in order to protect your wallet. This can range between 4 and 8 characters.
The screen of your Ledger Nano S Plus will display a 24-word recovery phrase. You must write your recovery phrase on one of the three notepads included in the box and keep it somewhere safe.
Finally, check your Ledger Live app before installing crypto apps and storing your cryptocurrency in them.
To avoid financial loss, always back up your secret recovery phrase and keep your backup in a secure location.
How do I Transfer Bitcoins to My Wallet
To transfer bitcoins from the wallet, you must first download and install the wallet’s specific app or software on the Ledger Live app. You can use the private keys in your wallet to get into the blockchain through these apps. To add bitcoin to your ledger, take the following steps:
Step1: Using your computer or mobile device, navigate through the Ledger Live app and select “Manager” from the left menu bar.
Step2: Enter your PIN code to unlock your Ledger Nano S Plus.
Step3: Look for apps that can support your cryptocurrency, select it, and then click install.
Step4: Once downloaded, click “Add Account” for that cryptocurrency
Step5: After that, you can send and receive cryptocurrencies in that account.
Once you have set up an account and an application where you’d put your cryptocurrencies, in order to move your crypto to your Ledger Nano S Plus, you must follow these steps:
Step1: Open your Ledger Live app with it, look for the app and the account you just made.
Step2: Select “Receive” on the menu on the left and copy the address displayed on your computer or smartphone’s screen.
Step3: Open the exchange where your cryptocurrencies are stored and then select “Withdraw Funds.” This may have different sets of verification on different exchanges.
Step4: Paste the wallet address you copied from your Ledger app and set the amount of tokens you wish to withdraw or to put into your Ledger wallet.
Step5: Wait for your cryptocurrencies to reflect on the Ledger Live app and after that, you will have stored your cryptocurrencies in your Ledger.
How much does the Ledger Nano S Plus Wallet cost?
In the current market, a Ledger Nano S Plus device costs US$79, higher than its predecessor but cheaper than the Ledger Nano X.
Is Ledger Nano S Plus Safe?
As a hardware wallet or “cold wallet,” the Ledger Nano S Plus usually gives you more security because it keeps your device safe from software attacks because the private keys are always kept offline. The private keys never leave the device, so holders can sign transactions without the private keys ever leaving the device. This makes this type of cryptocurrency wallet more secure than any other kind.
Customer Support
However, for security reasons, Ledger doesn’t provide phone support. Numerous attempts by other people pretending to be Ledger Support have shown up throughout the years. Those people are scammers and are trying to get a hold of your cryptocurrencies.
The following list is where you can contact Ledger Customer Support:
1. Social Media:
- YouTube
- TikTok
2. Help Centre
