Unboxing the Ledger Nano S - Best Hardware Wallet Choice for Europeans
My Ledger Nano S wallet arrived today!
I’m pretty much the only person I know who gets excited about that :) I don't have many real life friends who I can share this with.
The Ledger Nano S is a hardware ("cold") wallet to keep your digital currency coins save.
There is another brand - the Trezor - which has a really good reputation, too, but from a cost point of view, I believe the Ledger Wallet is the better choice - especially for Europeans.
There are three things to consider when deciding for a hardware wallet:
#1 Which currencies do they support?
The Trezor currently supports Bitcoin, Ethereum, Ethereum Classic, Dash, Dogecoin, Litecoin, Namecoin, ZCash and Bitcoin Testnet.
The Ledger Wallet supports Bitcoin, Ethereum, Ethereum Classic, Dash, Dogecoin, Komodo, Litecoin, Ripple, Stratis and Zcash.
In my case, Dash is most important for me, so from that point of view, it didn’t matter which one I got, since they both support it.
#2 What do they cost?
If they both support your favorite coins, then it would make sense to go for the less expensive one, which is the Ledger Wallet at €69.60 instead of €89 for the Trezor.
#3 Shipping Costs and Import Duties
Depending on where you live in the world, you may have to pay import duties on your purchase. They might be higher than the €20 you're saving on the less expensive wallet. This is something to be conscious of, since you may find out only upon delivery.
While the Trezor ships out of Hongkong (if I'm not mistaken), the Ledger Wallet ships out of France. That means, no import duties apply within the European Union. Also the shipping costs are probably way lower within Europe than from Hongkong.
So keep this in mind when ordering your first hardware wallet.
And - I’m not sure how the Trezor is packaged and shipped - but the Ledger Nano S reminds me a LOT of the iPhone! They did a really good job with that.
I had bought a bundle - I thought this was another advantage of the Ledger Wallet over the Trezor - the fact that they give you a discount if you order two. But it seems it was a one-off special offer.
To save shipping costs, though, it's still a good idea to do a combined order with your friends.
So, now I will take it for a test drive, and then I'll have to pick a really really good place to park it....
To be continued...
What hardware wallet are you using or planning to buy?
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Hi, I’m Anja :)
I write mostly for women entrepreneurs and support them in managing their money and their business. I have written a Beginner's Guide to Steemit & Crypto Currencies and am currently launching the Conscious Crypto Community.
You can also find me in the Women of Dash group on Slack.
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Good post, I will certainl take your advise and go for one. Safety is my number one concern noting the volatility of these coins see https://steemit.com/steem/@charles1/the-fears-in-crypto-currencies-etherium-plunge
Would like to join you in your excitement haha. Smart move, thanks for sharing . Lets stay in touch.
I haven't figured out what I am going to use yet. Just got my first Steem in the last 24 hours and don't plan on cashing any out right just yet.
Good choice. I would leave any Steem earnings in here for a while and focus on building up Steem Power.
What about Steem Savings? Any point in doing that?
No - at least not at the moment. I consider the Steem Power my savings account. It gives you 9.5% interest per year from what I've learned. Plus, the more Steem Power, the more you can earn.
Good to know.
Awesome that it arrived! I've ordered a trezor and it works really well. I will try our the ledger series too eventually as they have other coins trezor does not offer.
I love how you dive into things so well! Thank you for sharing. :)
Do you find the Nano S flimsy and potentially easy to break?
No, not at all. Reminds of regular USB sticks.
Cool! I look forward to the next step on my learning curve-learning to use one!
Very useful thank you! So, you recommend this ledger for Europeans just because of the import fees, right? or are there other reasons?
Yes. Because from the reviews I've read, the Trezor and the Ledger Wallet are pretty similar in quality. But the import fees could make for a very unpleasant surprise. They are different for each country.
So if you live outside of Europe, this may not apply to you. The Trezor may be a better option price wise.
Indeed! Also, since i'm French, it would be a pleasure to help my country's economy by buying the Ledger Nano S haha (even though i'm sure it's assembled in China!)
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Very good read, I didn't realise Ledger ships from inside EU, that makes the purchasing decision a no brainer