Ledger Nano S Plus Review 2026: Still Worth It?
The Ledger Nano S Plus is Ledger's entry-level hardware wallet. It's been on the market long enough to have a track record, and it remains one of the most widely recommended beginner wallets. Here's an honest look at what it offers in 2026.
Overview
The Nano S Plus is a USB-C hardware wallet with a small screen and two physical buttons. It stores private keys offline and requires physical button confirmation for transactions. It supports Bitcoin, Ethereum, and thousands of other tokens through the Ledger Live app.
Key Specs
- Secure element: CC EAL5+ certified
- USB-C connection
- Small screen (not touchscreen) with two buttons
- 128 x 64 pixel display
- Supports thousands of cryptocurrencies
- Closed-source firmware (significant consideration)
- No battery — powered by USB only
Setup
Setup takes 15–20 minutes through Ledger Live (their companion app). You generate a 24-word seed phrase and verify it on the device. The two-button navigation is functional but slower than a touchscreen — scrolling through long seed words requires multiple button presses.
Ledger Live
Ledger's companion app handles portfolio management, sending/receiving, and buying crypto. It's reasonably polished and updated regularly. You can also connect your Ledger to third-party apps — Electrum, MetaMask, Sparrow — though this requires more setup.
The Closed-Source Question
Ledger's firmware is not fully open source. You have to trust that the code running on your device does what they say it does. This is a real philosophical objection for Bitcoin purists. Trezor, by contrast, is fully open source.
In 2023, Ledger announced "Ledger Recover" — a seed phrase backup service that revealed the firmware is theoretically capable of transmitting portions of your seed phrase. The backlash was significant. Ledger walked back some aspects of the rollout. It raised legitimate questions about what the closed firmware actually does.
Physical Security
The secure element chip is EAL5+ certified, which is a legitimate security standard. Physical extraction of private keys requires sophisticated equipment and is not trivial. The secure element design is credible for protecting against physical attacks.
Nano S Plus vs Ledger Flex vs Ledger Nano X
- Nano S Plus — cheapest, small screen, USB-only, no Bluetooth
- Nano X — adds Bluetooth, mobile use, larger screen, battery
- Flex — touchscreen, NFC, more premium build, higher price
For desktop-only use, the Nano S Plus is sufficient. If you want mobile use without a cable, the Nano X or Flex makes more sense.
Price
The Nano S Plus is one of the most affordable hardware wallets. Check current price here.
Should You Buy It?
The Nano S Plus is a capable hardware wallet and a reasonable choice for most beginners — especially if you hold multiple cryptocurrencies and want the broad ecosystem support of Ledger Live.
If you're Bitcoin-only and want open-source firmware, look at the Trezor Safe 5 or Blockstream Jade instead.
The Ledger Recover controversy is worth reading about before you decide. If you're comfortable with closed-source firmware and the trade-offs it implies, the Nano S Plus is a solid, affordable option.
Summary
- Good: affordable, widely supported, credible secure element
- Concern: closed-source firmware, Ledger Recover capability
- Best for: multi-coin holders who want broad support at low cost
- Consider instead: Trezor Safe 5 if you want open source and Bitcoin-only
Also see: Trezor Safe 5 Review | Trezor vs Coldcard | Bitcoin Custody Options