My Ledger Wallet Nano S arrived and it isn't as great as I thought ...

in #wallet7 years ago (edited)

My Ledger Wallet Nano S arrived and I had pretty high expectations as everybody on the internet seems to recommend it, together with Trezor and KeepKey. After unboxing and "installing" it, I quickly got turned off by it. As long time Exodus user, I expected more. Here is why.

ledger_nano_s.png

My pain points:

  • The Ledger Nano S is cumbersome to use and the history of transactions is lacking information compared to Exodus
  • The ethereum wallet looks different to the bitcoin wallet and has a smaller interface. Why?
  • It takes time and is annoying to constantly switch the wallets on the device itself and open the appropriate application. Some kind of multi-currency wallet would be much cooler!
  • Only a couple of crypto currencies are supported, much less than Exodus or others. Where is Lisk, ... ERC20 tokens?
  • No possibility to directly exchange any crypto into another one with something like Shapeshift
  • Security: I now have a "USB-Stick" laying around that anybody can see and steal instead of something hidden in software, firewalls and strong passwords. (I know "cold storage" is said to be much more secure)

I would very much like that Exodus just supported a hardware wallet or authentication method with a hardware device, rather than having to use the Nano S only.

Am I missing something, what do you think?

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Its still the most secure :) More security = less conviniance.

Im planning on buying one soon. Its goona be for my ultra-long term storage.

yes, valid point. It is then probably to best to also store the cold storage wallet in a cold storage like a bank or something similar as one's home is probably not the most secure :)

Its shame Ledger cant be additionaly protected by pin or password. Trezor does this I heard.

Ledger can actually with 8-character PINs. Will checkout Trezor too

Thats great! Last point of failure is gone then.

You can store ERC20 tokens on nano ledger.

storing yes: I now also found out that through myetherwallet it is possible to use them.

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