Is Buying A Ledger Nano S Worth It Now?

Is Buying A Ledger Nano S Worth It Now?
April 08, 2019
Over the past few years, the Ledger Nano S has been the trusty companion of many crypto believers. It has been the place where many have thought it safe to store their coins and tokens, without running the risk of leaving them on exchanges, or other types of less secure wallets.

It is easy to see why this is the case, due to the fact that the Ledger Nano S allows its users to own their own private keys. And with only a few simple steps, it is possible to transfer coins and tokens around with great ease.

Retailing now for the price of about $59, the Nano S may seem like a good buy at this price. However there are a few things to consider before buying.

With recent updates, the Nano S has been reported to store less and less cryptos at anyone time, sometimes as little as only two without running out of storage space.

Now you can always delete the crypto apps you are not using, then reinstalling then when needed, without losing your cryptos. But doing things this way, may not always be convenient for some.

There is little doubt in the eyes of many. That the Nano S is an excellent device. But the time may have arrived where this is no longer the case, and the device is now showing its age and limitations.

So is it worth it buying a Ledger Nano S now?

Well the answer to that is no, but this is due to the following reason;

An updated version to the Ledger Nano S is now available for pre-order. This comes in the form of the Ledger Nano X.

- The Ledger Nano X promises multicurrency storage of up to 100 cryptos at any one time.

- Mobility in the form of Bluetooth, which will allow users to connect it to their smartphones and through the Ledger Live Mobile app, make safe transactions anywhere.

There is however one drawback to this. The Nano X retails for about $119, which is double the price of the Nano S.

So is it worth buying the Nano X at twice the price of the Nano S? The answer to that would be yes. Simply because it offers better features and “yes” the big one; more storage.

We must take into consideration that technology gets better all the time, so we must be ready to upgrade when a better piece of hardware is available on the market. Especially when convenience and safety are our main concerns.