Ledger Nano S Plus is known for being very secure when it comes to protecting your cryptocurrency and NFT assets. Ledger Nano S Plus uses the ST33 Secure Element chip which is certified according to Common Criteria at level EAL6+. The certification shows the chip has been tested for vulnerabilities related to physical damage and secretly obtaining information from speed, noise, or how much power it consumes. Your private keys and the cryptographic functions are kept secure by the Secure Element, away from any threats.
You can choose your PIN code, setting it to 4 or 8 digits, to prevent unauthorized use of the device. If you enter the wrong code several times, the system resets the device to wipe all the data out of safety.
As part of the setup, the device will produce a 24-word backup called a recovery phrase that allows you to recover your wallet if the device is gone or broken. Please remember to protect this phrase, as it will let anyone who has it access your crypto funds. Ledger often sends updates to the firmware to solve known issues and include new useful features. For better protection, always check for and apply updates to your device.
Key points include
- Enhanced Security: Equipped with a CC EAL6+ certified secure element chip (ST33K1M5), it ensures top-tier protection for your digital assets.
- Extensive Asset Support: Manage over 5,500 cryptocurrencies, including Bitcoin, Ethereum, XRP, and various NFTs, all through the Ledger Live app.
- Recovery seed phrases are vital for backup and restoration.
- Users can set up the device entirely offline if they wish to maximize security.
- Ample Storage: Install up to 100 apps simultaneously, allowing you to handle multiple assets without frequent app management.
- Improved Display: Features a 1.09” 128×64 px OLED screen, doubling the resolution of its predecessor for clearer transaction verification.
- The Ledger Nano S Plus has no internal battery and requires a USB connection to power.
- USB-C Connectivity: Offers a USB-C port for seamless connections to desktops and Android devices.
- It uses a USB-C cable (included), but the presenter prefers his own longer cable.
Initial Device Setup
The setup process is thoroughly explained:
- The device’s interface uses two physical buttons for navigation and selection.
- After turning it on, the device guides users to download Ledger Live software but clarifies this isn’t necessary for initial setup.
- The user must select whether to initialize the device as new or restore from an existing seed phrase. The presenter chooses a new device.
- You must set a PIN code to be simple yet secure enough to remember without writing it down in an unsafe place.
- The most critical step is writing down the 24-word recovery seed phrase. It is stressed that the word must be documented carefully in order and numbered.
- Verification follows where the device tests you by selecting words from options to confirm the proper recording of the recovery phrase.
- Once verified, the device is initialized and ready for use.
Additional instructions cover
- Disabling the PIN lock timeout (default: locks after 10 minutes of inactivity) and screen saver to avoid constant PIN entry during active use.
- Emphasis on unplugging the device when not in use rather than relying on the device lock for security.
Installing Ledger Live and Connecting the Device
- Install Ledger Live.
- Once Ledger Live is installed, the device is connected via USB-C.
- The user enters the PIN on the device and begins the Ledger Live interface.
- The device performs a genuine check—a cryptographic handshake that ensures the hardware is authentic and untampered.
- This step removes concerns about physical tampering or compromised packaging by using device-level encryption checks.
Adding Cryptocurrency Accounts
- Ledger Live automatically detects if required apps (software modules for different coins) are missing on the device and installs them.
- The user opens the corresponding app on the device to set up their crypto wallet.
- We name accounts simply for clarity and ease of management.
- We recommend Native SegWit Bitcoin accounts due to their efficiency and lower transaction fees.
Funding Wallets & Receiving Cryptocurrency
- Users must verify that the receiving address displayed on the Ledger device matches what they input on the exchange before sending.
- Users select Receive for the desired crypto account in Ledger Live, then open the respective app on the Ledger device.
- Both the computer and device display a public receiving address for verification.
- The address serves as a home or postal address where you can send Bitcoin, Ethereum, or Solana.
- The user recommends sending a small test amount first to avoid mistakes.
Managing Portfolio and Balances
The Ledger Live portfolio interface allows users to see all accounts, balances, and total crypto value in USD.
- Users can conveniently track multiple cryptocurrencies in one place.
- We show confirmations and syncing in real-time.
- The presenter assures users that waiting for confirmations is normal and funds are secure during this period.
Sending Cryptocurrency – Withdrawing from the Hardware Wallet
- You must connect the device, turn it on, and enter the PIN.
- The exchange copies the recipient address (e.g. Binance deposit address).
- Users select “Send” for the cryptocurrency account in Ledger Live, then paste the destination address.
- You can choose the maximum available balance or a specific amount.
- The system presents transaction fees and speed options.
- You must launch the respective app on the device to authorize the transaction.
- A series of screens on the device prompts the user to verify transaction details: destination address, amount, and fees.
- You must press both physical buttons to confirm and send, effectively using the ledger device as a secure “key” for authorizing transactions.
Transaction Monitoring
- Pending transactions show as “not confirmed” but once confirmed, they appear as fully available funds.
- Users should not panic if initial transactions show pending confirmations.
- The portfolio page in Ledger Live provides an overview of confirmed and unconfirmed balances.
Final Thoughts and Recommendations
- Always back up the recovery phrase securely; backing it up is the only way to recover funds if you lose or damage the device.
- Practice small test transactions before transferring large sums.
- Understand how to both fund and withdraw from your wallet to have full control of your crypto assets.
- The Ledger hardware wallet is a critical security tool and requires hands-on interaction for authorization—this protects against hacks and theft.
Key Takeaways
- Initial device setup involves carefully recording a 24-word recovery phrase and PIN creation.
- Ledger Live is an essential companion app that manages wallet setup, cryptocurrency accounts, and transactions.
- Adding accounts automatically installs required apps for supported cryptocurrencies.
- Transferring crypto in and out of the hardware wallet involves verifying addresses meticulously on both the device and computer screen.
- The genuine check builds trust to ensure that no one compromises the device.
- Using the hardware wallet as the transaction signer provides high security against theft.
- Users can manage multiple cryptocurrencies and networks simultaneously.
- Confirmations and blockchain fees vary by coin and network; patience and understanding of these details enhance user confidence.
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