If you’re searching for a hardware wallet you can use to safely store your crypto private keys, there’s arguably no bigger name on the market than Ledger. The French crypto security company offers a choice of four popular hardware wallets, each of which can be used to hold thousands of coins and tokens.
But how do these wallets work, are they safe, and which is the best Ledger wallet for you? Keep reading to find out.
What is a Ledger wallet?
A Ledger wallet is a hardware wallet used to store cryptocurrency private keys. Ledger wallets are made by French firm Ledger, founded in 2014, and there are four different models to choose from.
But while cryptocurrency doesn’t exist in physical form, Ledger wallets do. Entry-level Ledger hardware wallets look a lot like the USB thumb drives that you plug into the USB port on your computer, while higher-end models feature touchscreens.
Is Ledger a cold wallet?
Yes, Ledger crypto wallets are cold wallets. “Cold” refers to the fact that a Ledger wallet stores your private keys offline on a physical device, providing additional security for your crypto assets.
A cold wallet is recommended if you’re looking for a safe and secure way to manage your digital assets, offering protection against hacking, malware and phishing attacks. But if you’re searching for a wallet that offers quick and convenient transactions, a hot wallet — one that is connected to the internet — may be a better choice.
Types of Ledger wallets
There are four types of Ledger wallets:
Ledger Nano S Plus
Ledger Nano X
Ledger Flex
Ledger Stax
Keep reading to learn more about each type and how they compare.
The Nano S Plus is the entry-level Ledger wallet. This means it's affordably priced and easy to use, but it still offers a high level of security for over 5,500 crypto assets. It features a 1.09-inch monochrome OLED display and allows you to manage your crypto holdings on Android and desktop devices.
Like the Nano S Plus, the Ledger Nano X is quite similar in appearance to a USB thumb drive. And while it's almost double the price of its more affordable brother, it adds handy features like Bluetooth connectivity, iOS compatibility and five hours of battery life during normal use. And of course, it also provides support for over 5,500 coins and tokens.
Get $20 BTC in reward after the purchase of a Ledger Flex orange. T&Cs apply.
The first thing you notice about the Ledger Flex is that it boasts a 2.84-inch secure touchscreen designed to make it easier to sign and approve transactions. It also offers Bluetooth, NFC and USB connectivity for added convenience, with security provided by a CC EAL6+ certified secure chip.
Pros
User-friendly touchscreen
Multiple connectivity options
Over 5,500 coins and tokens supported
Up to 10 hours of normal-use battery life
Cons
Price is getting up there
Doesn't support wireless charging
Protective magnetic case is available at an extra cost
If you're looking for the top-of-the-line Ledger Wallet, the Stax is it. The Stax's headline feature is a 3.7-inch electronic ink (E Ink) curved touchscreen, which ensures seamless and convenient transaction signing. A protective magnetic shell is included too, and wireless charging and 10 hours of battery life round out the list of features.
Pros
Large touchscreen
Wireless Qi charging
Customizable
Compatible with Android, iOS and desktop devices
Magnetic case included
Cons
Expensive
Not a huge range of extra features to justify the price tag
How do Ledger crypto wallets work?
There are two parts to a Ledger wallet. The first is a mobile and desktop app (Ledger Live) that you can use to create transactions.
But before any transaction can be executed, it needs to be sent to the second part of the wallet, the physical Ledger device, where your private keys are stored. You can verify the transaction on your hardware wallet, which is then signed by the device before being completed.
Ledger wallets offer the following features to users.
Secure Element chip
A Ledger wallet generates and stores your private keys in a chip inside the physical wallet. Known as the Secure Element chip, this tamper-proof chip runs Ledger’s custom operating system and is responsible for signing transactions.
Ledger PIN
When you set up your Ledger Wallet, you can create a 4-8 digit PIN code. This PIN is used to unlock your wallet and sign transactions, and it should never be shared with anyone.
Supported coins and tokens
In conjunction with the Ledger Live app, Ledger wallets support over 500 cryptocurrencies and NFTs. But Ledger devices are also compatible with over 50 third-party software wallets, so they can be used to store the private keys for over 5,500 coins, tokens and NFTs.
All four Ledger wallets offer USB-C connectivity. Bluetooth is also supported on the Nano X, Flex and Stax wallets, while the Stax wallet supports NFC as well.
Recovery phrase
If you lose your Ledger wallet, all four models have a 24-word secret recovery phrase you can use to regain access to your private keys. An encrypted digital backup is also available with an optional subscription to Ledger Recover.
What is the best Ledger wallet?
The Ledger Nano S Plus is the best Ledger wallet — for several reasons.
For starters, it took out three categories in our list of the best crypto wallets, including the best overall title, the wallet that offers the best value and the best wallet for staking.
And when you focus on the features, there’s plenty to like about the complete package the Ledger Nano S Plus offers. It supports over 5,500 tokens, letting you keep the private keys for all your crypto assets and NFTs in cold storage, and the Ledger Live app makes it easy to buy crypto and stake your tokens. Best of all, a CC EAL6+ security rating means you can rest assured that your crypto holdings are safe.
To top it off, the Nano S Plus offers all that at an affordable price point of US$79, so it’s easy to see why it’s the best Ledger wallet.
Is Ledger wallet safe?
Yes, Ledger wallets are a safe option for storing your cryptocurrency private keys. Cold hardware wallets are generally viewed as a safe and secure storage method for crypto assets.
Ledger wallets offer PIN code protection, secure chips, recovery phrases and the added security of offline cold storage. Ledger also has its own product security team, the Donjon, that tries hacking into its own products to try to find their weaknesses.
Has a Ledger wallet ever been hacked?
There are a couple of Ledger security breaches worth mentioning.
First, in July 2020, Ledger’s marketing database was breached, and the phone numbers, email and postal addresses of over 270,000 Ledger users were later posted on a hacking forum. In response, Ledger issued a statement that featured the following:
“To be very clear: this data breach has no link nor impact on our hardware wallets, the app or your funds. Your crypto assets are safe. While very truly and sincerely regrettable, this breach concerns only e-commerce related information.”
The second incident occurred in December 2023, when Ledger Connect Kit, a Javascript library that connects websites to wallets, was compromised in a phishing attack.
Ledger later promised to reimburse the US$600,000 lost by victims of the hack. The French firm also emphasized that the exploit was limited to third-party decentralized applications and did not affect the integrity of Ledger hardware.
Is the QFS Ledger wallet legit?
We’re not willing to sign off on the legitimacy of QFS Ledger.
In March 2024, Quebec’s Autorité des marchés financiers (AMF) issued an investor alert warning that QFS Ledger is not authorized to solicit investors in Québec. The warning listed the following other business names used: QFS Ledger Ultra Stellar, LLC; QFS; and Quantum Financial Ledger. Several online sources also list scams related to the acronym QFS.
If you want to get a Ledger wallet, make sure you order a Nano S Plus, Nano X, Flex or Stax directly from the official Ledger website.
Do Ledger wallets come with an app?
All four Ledger wallets are compatible with the Ledger Live app. Available on mobile and desktop, the app allows you to create transactions that you can then verify with your Ledger hardware wallet.
You can use the app to:
Store thousands of crypto assets and track your portfolio.
Buy cryptocurrencies with a credit card, debit card or bank transfer through third-party service providers Paypal, Ramp, MoonPay and Sardine.
Swap from crypto to crypto without using fiat currency.
Stake crypto and track your returns in the Earn section.
Access decentralized apps.
The app is free to download from the Apple App Store, Google Play and the Ledger website.
Is it safe to have the Ledger app on your phone?
Yes, the Ledger Live app is safe to use. This desktop and mobile app is used to create transactions and manage your crypto assets. But the private keys for your cryptos remain on the physical Ledger wallet, and they’re not stored on your mobile device.
Just make sure you only ever download the app from an official app store or directly from Ledger.
Summary of Ledger wallet app reviews
Reviews for the Ledger Live app are generally positive across the App Store and Google Play. Positive reviews mention factors such as a user-friendly interface, simple set-up process and the security of Ledger cold wallets. However, there are some complaints about app glitches and Bluetooth connectivity issues.
Apple App Store (Canada) rating
4.8/5 based on over 1,600 reviews
Google Play rating
4.3/5 based on over 29,300 reviews
* Ratings as of March 5, 2025
Pros and cons of using a Ledger wallet to store your crypto
Pros
Cold wallet. Ledger wallets provide cold storage for your crypto private keys, removing many of the risks associated with storing keys in online wallets.
Multiple models to choose from. From the entry-level Nano S Plus to the top-of-the-line Stax, there are Ledger wallets to suit different budgets and user needs.
Supports a huge range of crypto assets. You can use your Ledger wallet to manage over 5,500 coins and tokens.
User-friendly app. The highly rated Ledger Live app makes it easy to create transactions and track the performance of your portfolio.
Cons
Some security breaches. As mentioned above, Ledger has been caught up in security breaches in the past.
Inconvenient. While cold wallets provide higher levels of security than hot wallets, they’re slower and less convenient to use than hot wallets.
Price. The Ledger Flex and Stax models are quite expensive compared to other hardware wallets.
Not completely open source. Some Ledger critics point to the fact that the company’s hardware is not completely open source as a reason to doubt the security of Ledger wallets.
How do Ledger wallets compare to other types of crypto wallets?
Ledger wallets are a solid option if you’re searching for a hardware crypto wallet, but they’re far from the only option out there. One popular alternative is the Trezor Model T which, like Ledger wallets, can be used to secure over 5,000 coins and tokens. It features a touchscreen and advanced features like multisignature protection and Taproot support, so it may be better suited to more experienced crypto users. Learn more in our Trezor Model T review.
The Trezor Safe 3 is a popular entry-level option that uses a CC EAL6+ certified Secure Element chip. It supports thousands of cryptocurrencies and allows you to send, receive, stake and trade your coins and tokens in Trezor Suite.
The COLDCARD Mk4 is our pick as the best Bitcoin wallet in our best wallets guide. While it doesn’t have the same functionality and ease of use as Ledger wallets, it does offer a high level of security with its own microprocessor and two chips from different vendors. But it only supports Bitcoin, so it’s not suitable for holding multiple crypto assets.
Ledger wallets offer a high level of security for your crypto assets, and a user-friendly platform you can use to manage those assets. But the right wallet for you will depend on your personal preferences and crypto usage needs, so compare Ledger’s offerings to find the best Ledger wallet, then see how it stacks up against the competition before deciding if it’s right for you.
Frequently asked questions about Ledger
Yes, a Ledger wallet is worth considering if you need somewhere to store Bitcoin private keys. Ledger wallets not only provide offline storage for private keys, but you can also use the Ledger Live app to buy, send, receive and swap BTC.
Yes, Ledger wallets support XRP. You can also use the Ledger Live app to buy, send, receive and swap XRP.
The XRP Ledger is not associated with Ledger hardware wallets — instead, it's a feature of the cryptocurrency known as XRP. The XRP Ledger is a peer-to-peer blockchain network built for business, and it uses a consensus protocol to process transactions.
Ledger released its first wallet in 2016. The Ledger Nano S was the company's first wallet.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
See how the Trezor One compares in the world of crypto hardware wallets.
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