My experience with the Ledger Nano S - It's a bit shit
The Ledger Nano S is supposedly one of the best external crypto wallets on the market, but my experience is that it's unreliable, has very limited storage space for functionality and it's so difficult to use for anything but mainstream coins I've decided to leave most of my alts on the exchanges.
If people want secure crypto storage and this is the best the market can offer, there is simply no way crypto is going mainstream anytime soon.
I bought my Ledger a few months ago, and pretty immediately formatted it and then dumped most of my BTC, LTC, ETH and XRP onto it from the exchanges, all of that was straightforward enough, and I was happy enough with the Ledger.
However, a couple of days ago I decided it was time to go through my alt coins and add those wallets onto the Ledger so I could get my $500 or worth of various alts onto it too.
So I started off my trying to install the XLM wallet and was treated to a 'not enough storage space' message... WTF, I only had 4 cryptos on there already?!? So it turns out that the nano only has enough space to store a few 'wallets' - so you can only ever instantly move around 4 cryptos.
If I wanted to install more wallets I'd have to delete either my BTC/ ETH/ LTC/ or XRM wallet: the keys and so effectively the currencies would still be on the Ledger, just not any of the wallet 'functionality'.
So I did this, and installed the XRM wallet, and then I find that I can't just cut and paste my XRM over like I did with the four 'big coins', I've got to read the instructions on the Ledger support and go via some web application - couldn't be arsed. So I tried with EOS and about another 3 currencies, all the fucking same.
Result - I'll just leave my $500 of alts on the exchanges, I CANNOT be arsed with this BS.
Oh, and in the middle of all of this the Ledger decided to reset itself, so I had to enter my 24 word seed phrase to reset this piece of unreliable dysfunctional shit.
At least the reset worked, but I can't believe this device is so dysfunctional in so many ways - for something to just reset on the second time of using it - now that's bad, really bad.
There is simply no way your average consumer would view this an acceptable way to manage their finances. Just appalling.
Trezor model T is a much better device. I threw the ledger nano out.
Couldn't agree more
I'm happy with mine but that is because I really only keep btc, eth, eth tokens and xrp. The nano X is supposed to have more storage.
Yes I've just settled for those 4 now... think I'll stick with them and find another solution for the rest.
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Yeah, I almost got one of these but thought best till they are all singing all dancing etc etc...!
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I tested it once. Shitty and unreliable firmware. After a few updates it refused to work at all. Total crap.
So that means you have to buy another one to get yer crypto I guess... sounds like a bad purchase for both of us!
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Yeah. I'm still wondering what I should buy. I had a small bag of small cap alts on Cryptopia when it was hacked last January. When the hack occurred, I wrote them off. That's what you get when you keep anything on these small exchanges. I trust the likes of Coinbase and Binance a lot more.
Man, I got mine Jan 2018 and back then, well it was even worse!
Since we have the ledger live desktop it's much more user friendly but I also can't get to my XLM that I put there 😂 not even sure if it's there, because it's not working.
I remember trying to put monero there but it wasn't simple 😂
Hope it didn't stress you to much mate!
Posted using Partiko Android
After I decided to not bother with anything other than the 4 main coins... no stress at all!
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It gets more useable once your used to happily removing one to add another. I'm sticking with the Nano S because the X is mobile friendly and to me that spells disaster hahaha
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Oh dear.., having a bad day? i got my XLM on it without much hassle.. it does support it via the Ledger Live software, but the support of some other coins is crap.
EOS.. - Crap.. I will concede and mine is still on Binance.. too much arsing about as you say.
I have put some XRP (Stellar Lumens) on mine but it needs another wallet. The software needs to support ALL coins, not just some.
There's nothing out there that does ALL yet. Another reason why crypto can not become mainstream.
It's nice to have some confirmation that it's not just me!
At least I've got my main coins off the exchanges.
Posted using Partiko Android
Put them in Celsius, they will give some interest at least... https://celsiusnetwork.app.link/15398955a5
Posted using Partiko iOS
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Yep, a bit shit.
i never tried it yet
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It is kind of tough but the newer Nano X is pretty good and I have seen improvements on its interface and mobile capabilities as well. I don't use it that often but it has worked pretty well so far.
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Finally... someone who shares my opinion about the Ledger Nano S...
I really don't get why people still call this 'the best one on the market'.
About two years ago, I bought a Trezor. I'm pretty happy with that one. Aside from the trouble I experienced twice while updating the firmware, it is easy to use. Customer support was great.
However, back then, it didn't support as many currencies as it does today, so a couple of months later, I bought a Ledger Nano S too.
What a disappointment that was...
The annoying buttons, the hassle of installing wallets or change settings,... and especially the fact that it could only hold such a limited number of cryptos... that wasn't what I signed up for.
I hate the thing, and I completely agree with you when you say this isn't going to help mass adoption.
Still, it seems everyone keeps raving about it. Not me, though. My Trezor is 1000x more user-friendly. I'd choose it over the Ledger Nano S any day.
Damn... it was a toss up between the two and I ended up with the duff one - never happens to me - only once in the crypto space!
The reviews are as unreliable as the predictions of most 'technical' 'analysts'
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Aren't they always? :0/
even though it isnt a wise thing to do...i get ya....thes ledgers are really not making life any easier although they are claiming to..
one day....there will be a customer friendly one!
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