Ledger Nano S hardware cryptocurrency wallet is a secure cold storage solution. It is best suited for novice cryptocurrency traders and holders who seek an affordable way to store several cryptocurrencies.
Ledger devices are known for supporting the most extensive range of cryptocurrencies among the hardware wallets. Ledger Nano S is not an exception – it supports more than 1100 different digital assets, including the most popular coins like:
- Bitcoin
- Ethereum and all ERC-20 tokens
- Litecoin
- XRP
- TRON
- EOS
- Bitcoin Cash
- Monero
- NEO
- Vechain
- Zcash and many others.
Many of the assets supported by Ledger Nano S are unsupported by competing hardware wallets like KeepKey or Trezor.
Despite the variety of supported crypto assets, the main Ledger Nano S drawback is its limited internal memory. It lets you install only up 3-5 different cryptocurrency wallets (depending on the size of the wallet apps). It makes for a great hardware wallet if you want to store a few distinct types of coins or tokens (for example, BTC and ETH). However, it is an ideal solution for storing your entire altcoin portfolio.
There is a workaround for this issue, though. You can install wallet apps and set up wallets for storing coins and then uninstall them from the Ledger Nano S. Although that sounds counterintuitive, your private keys will remain in the device.