Ledger Nano S Plus Review — Affordable Entry-Level Hardware Wallet

The Ledger Nano S Plus is an entry-level hardware wallet priced at approximately US$79, designed for users who want full control over their digital assets without relying on centralized exchanges or cloud storage. Launched in April 2022 by Ledger—a French company headquartered in Paris—this device has sold over 7 million units worldwide with no confirmed case of private keys being remotely extracted from a Ledger device. The wallet supports more than 5,500 digital assets and features a compact design with USB-C connectivity, making it an accessible choice for newcomers to cryptocurrency. This comprehensive review covers everything from unboxing and build quality to security architecture, supported assets, and how it compares to other Ledger models. Whether you're storing Bitcoin, Ethereum, or exploring alternative cryptocurrencies, the Nano S Plus offers a balance of affordability, security, and functionality. We'll also help you determine if this device is the right fit for your specific needs and usage patterns.

What is the Ledger Nano S Plus

The Ledger Nano S Plus is a cold storage hardware wallet designed to store digital coins and tokens while minimizing the risk of constant online exposure. Ledger, founded in 2014, developed this device using a certified Secure Element chip and BOLOS, Ledger's proprietary operating system. The device connects to computers or even smartphones exclusively via USB-C, with no battery or built-in Bluetooth.

The Nano S Plus is the successor to the discontinued Nano S and offers improved features compared to its predecessor, including a 128x64 pixel display, the ability to store approximately 100 applications, and compatibility with Ledger Live, the standard application for wallet management. Users can also create a 24-word BIP39 recovery phrase for device recovery in case of damage or loss.

Security of the Ledger Nano S Plus is a high priority for Ledger. The device is reviewed by Ledger Donjon, Ledger's internal security research team. Additionally, the device has no direct internet connection, so there is no channel for on-device data to be accessed remotely. With over 7 million devices sold worldwide, there is no confirmed case of private keys being remotely extracted from a Ledger device.

Unboxing and Build Quality

When you unbox the Ledger Nano S Plus, you'll find a well-designed package containing the finished Nano S Plus device, a USB-C cable for computer connection, instruction manual, and a recovery phrase card that should be carefully written down and stored securely. The device is compact and lightweight, making it easy to carry in a pocket or wallet without adding bulk.

The build quality of this device is quite good, with a sleek black casing that looks refined and elegant. On top are two buttons for navigation, and a small display screen in the center. While the appearance may seem relatively simple, the solidity of the device makes it feel premium, especially with high-quality materials inside.

The materials used in constructing the Nano S Plus are chosen for durability. The device's buttons withstand frequent use well, and the screen sits firmly in the housing without looseness. The absence of a battery or charging mechanism is actually an advantage, as you won't need to worry about charge loss.

Screen and Control Buttons

The Ledger Nano S Plus features a 128x64 pixel display with good display quality. While not large, it's sufficient for showing important information such as addresses, confirmation symbols, and asset amounts. This screen provides additional security because users can verify transaction details directly on the device rather than relying on a computer screen that might be infected with viruses or malware.

The device has two control buttons on the left and right, used for navigating menus, confirming, and canceling. These buttons make using the Nano S Plus straightforward and don't require complex interactions. For those unfamiliar with hardware wallets, you'll only need a few minutes to learn what each button does.

The dual-approval design on the Ledger Nano S Plus is standard. You must press both buttons simultaneously to confirm a transaction or when entering a password, meaning you cannot confirm with a single button. This is an important security feature because if malware tries to control the device, it would need to make both buttons work simultaneously, which is extremely difficult.

Technical Specifications

The Ledger Nano S Plus features economical and efficient technical specifications. The 128x64 pixel display connects via USB-C, making it compatible with most computers and tablets without additional adapters. The device has no battery and no Bluetooth, so it cannot connect wirelessly to other devices. This design keeps energy needs minimal and reduces the potential wireless attack surface.

The device can store approximately 100 applications, meaning you can store Bitcoin, Ethereum, Ripple, Litecoin, Monero, and many others simultaneously. The ability to support over 5,500 digital assets makes the Nano S Plus a flexible option for investors with diverse crypto portfolios. The device's compact, lightweight design makes it extremely portable - anyone can easily take it anywhere.

The Nano S Plus uses the BIP39 standard for creating a 24-word recovery phrase. This is an industry-standard accepted by the global crypto community. Private key generation occurs within the device and never leaves it for any other purpose, making this an efficient cold storage design.

Initial Setup and Recovery Phrase

Setting up the Ledger Nano S Plus is straightforward, with even inexperienced users able to complete it. After plugging it into your computer, install Ledger Live (Ledger's official application) on macOS, Windows, Linux, iOS, or Android. The device will show options to either set up as new or restore from an existing recovery phrase. If setting up for the first time, the device will generate a 24-word recovery phrase for you.

This 24-word BIP39 recovery phrase is the most critical thing to store securely because anyone who obtains it can access all your assets, as that is essentially your security code. Ledger doesn't store this information on their servers and cannot help you if you forget or lose it. The recovery phrase card in the box is simply for writing it down. You can make multiple copies and store them securely such as in a bank safe deposit box or even hidden in your home in a metal box.

After setting your PIN password, the program will ask you to verify the recovery phrase word by word to ensure you've recorded it correctly. This step is crucial as it protects you from making mistakes in your notes and readies the device. Once everything is complete, you can add Ethereum, Bitcoin, or other coin accounts to your Ledger Live.

Supported Assets and Ledger Live

The Ledger Nano S Plus supports storing over 5,500 digital assets including Bitcoin, Ethereum, Ripple (XRP), Litecoin, Bitcoin Cash, Monero, Polkadot, Solana, Cardano, Cosmos, and many others, demonstrating its value for most people with diverse crypto portfolios. Ledger Live is the official application of Ledger that allows you to easily manage, send, receive, and track your assets.

Through Ledger Live, you can buy and swap crypto using integrated third-party providers, though prices and fees may vary. Additionally, Ledger Live supports staking for assets such as Ethereum, Solana, Polkadot, and Cosmos, meaning you can put your assets to work without ever moving your coins off the device. Users can also view and manage NFTs on Ethereum and Polygon.

Another useful feature is support for Web3 integrations like MetaMask, which means you can connect your device to Ledger-supported dApps and approve smart contracts without requiring your coins to leave this hardware wallet. Portfolio tracking on Ledger Live also helps you see the total value of your assets, price changes, and asset distribution in real time.

Security Architecture

The Ledger Nano S Plus uses a certified Secure Element chip and Ledger's BOLOS operating system working together to provide maximum security. The Secure Element chip is a specialized, certified microcontroller with the sole purpose of storing and safeguarding private keys. The device is engineered to resist physical attacks, so even if someone gains physical access to your device, they still cannot extract the private key without the PIN code.

The Nano S Plus also benefits from Ledger Donjon, Ledger's internal security research team, which regularly performs penetration testing and vulnerability analysis across all Ledger devices. Additionally, the device has no direct internet connection, and private keys are never transmitted over the USB cable — only signed transactions leave the device, with the signing itself happening inside the chip.

Ledger has also faced two notable security incidents worth knowing about. In 2020, Ledger's e-commerce customer database was leaked, exposing emails and addresses, though user devices and private keys were never affected — the resulting risk was limited to phishing attempts. In December 2023, Ledger Connect Kit, a library used by some dApps, was hit by a supply-chain attack for a few hours; roughly US$600,000 was drained from affected dApp users, and Ledger pledged reimbursement. Neither incident compromised any Ledger hardware device itself.

Regarding Ledger Recover, an optional subscription service (~US$9.99/month, offered with Coincover) announced in May 2023, it caused significant controversy in the crypto community because it encrypts your recovery phrase and splits it into 3 shares held by 3 companies (Ledger, Coincover, EscrowTech), requiring identity verification to use. However, this service is strictly opt-in and is never enabled by default.

Pros and Cons

The Ledger Nano S Plus offers numerous advantages for its value. At approximately US$79, it's affordable for anyone wanting hardware wallet security without excessive spending. Supporting 5,500 assets stored in approximately 100 applications provides tremendous flexibility for managing diverse portfolios. Compatibility with Ledger Live, MetaMask, and other Web3 applications makes it an excellent choice for users wanting to interact via dApps. The lack of a battery or Bluetooth is also an advantage for a device built purely for cold storage, since it reduces the potential wireless attack surface.

Concerning drawbacks, the Nano S Plus lacks Bluetooth, meaning you need a USB-C cable to connect to your smartphone, which is inconvenient for users wanting mobile-first management. The small 128x64 pixel screen can make it difficult to see certain details, particularly when verifying long addresses or transaction information on a small device. Additionally, the two buttons may require continuous navigation to access different menu information, which can be cumbersome in rushed situations.

Another common concern is support for newer altcoin or token types that may take time before Ledger adds support. Furthermore, if you want to use Ledger Recover, you must pay additional fees, making the Nano S Plus a more expensive option long-term. Although the small screen and two buttons might not provide the best user experience, the security performance still outweighs these limitations.

Ledger Nano S Plus vs Nano X Comparison

The Ledger Nano X offers additional features compared to the Nano S Plus, starting with its price of approximately US$149, nearly double the S Plus cost. Both the Nano S Plus and Nano X use the same Secure Element chip and BOLOS operating system, but the key difference is that Nano X has Bluetooth and a built-in battery, allowing you to connect to iPhone or Android smartphones without needing a cable.

The Nano X's screen size is identical (128x64 pixels) to the S Plus, so there's no visual advantage. Both work equally well for managing assets and dApps via Web3. The Nano X supports the same number of applications (approximately 100) and the same assets (over 5,500), so there's no difference in asset support. Your choice between them depends on your usage: if you want mobile-first convenience and are willing to pay extra, the Nano X is worthwhile; but if you primarily use wallets on your desktop computer and want to save money, stick with the Nano S Plus.

Additionally, Ledger offers higher-end models like the Stax (~US$399), co-designed with iPod creator Tony Fadell, featuring a curved 3.7-inch E-Ink touchscreen, Bluetooth, Qi wireless charging, and NFC, or the Flex (~US$249) with a 2.84-inch E-Ink touchscreen, Bluetooth, USB-C, and NFC. While these models are more expensive, they offer better features and experience. It ultimately depends on your needs, budget, and personal preferences.

Who Should Buy This and Overall Value

The Ledger Nano S Plus is ideal for beginners and intermediate crypto investors wanting affordable cold storage with high security. If you have a diverse cryptocurrency portfolio and want to protect against hackers accessing your exchange accounts or software wallets, the Nano S Plus is an excellent choice. Additionally, if you primarily use computers and laptops for managing your crypto, the lack of Bluetooth won't be an issue.

The Nano S Plus is also suitable for users with diverse altcoin assets needing a flexible storage solution supporting over 5,500 assets. Users interested in staking, NFT management, or dApp interactions via MetaMask and other Web3 applications will benefit from this device's Ledger Live integration. At approximately US$79 (prices may vary), this is a strong selling point, especially compared to the Nano X at US$149 or other pricier models.

The Nano S Plus offers good overall value for its price point if you primarily use desktop computers. If you need mobile support and Bluetooth connectivity, consider the Nano X or Flex instead. However, for budget-conscious investors needing hardware wallet security, the Nano S Plus represents a fair and worthwhile choice.

Frequently Asked Questions

Conclusion

The Ledger Nano S Plus is an excellent and cost-effective hardware wallet for beginners and intermediate crypto investors seeking to secure their digital assets. At approximately US$79 and supporting over 5,500 digital assets, this device offers high-level security, broad compatibility with various applications, and flexible usage scenarios. While it has some limitations such as lacking Bluetooth and having a small screen, overall performance and design make it a solid choice for its price point. Your decision to purchase the Nano S Plus depends on your specific needs and usage patterns. If you primarily use computers and want to minimize costs, this device will serve you well. This review is educational in purpose only and should never be considered financial or investment advice.

This article is for educational purposes only and does not constitute financial advice.