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…