With the Ledger Nano Gen5, Ledger presents the latest generation of its well-known hardware wallets. In this way, financial independence from crypto exchanges can be achieved – in line with the motto “Not Your Keys, Not Your Coins”. The Ledger Nano Gen5 now boasts a 2.8-inch E Ink touch display with its own Ledger Recovery Key. In addition, the manufacturer now uses the more general term “Signers” instead of the technical term “hardware wallet”. With the addition of “Nano” to its name, this model is one of the more budget-friendly Ledger devices, whereas the Ledger Flex and Ledger Stax (without “Nano”) belong to the higher price group.
The following product test is intended to clarify how the new Ledger Nano Gen5 integrates into everyday life and for whom it is best suited.
Technical data
| Model | Ledger Nano Gen5 |
| Finish | Plastic frame and back panel |
| Size | 79.4 mm × 53.3 mm × 8.6 mm |
| weight | 46 g |
| Connectivity | Bluetooth 5.2, NFC, USB Type-C |
| Display |
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| Secure element chip | ST33K1M5, CC EAL6+ certified |
| Operating system | Ledger OS |
| Supported OS |
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| Price | € 179.00 * |
Scope of delivery
- Includes signer, USB-C cable and three recovery sheets, among other things
- Recovery key on its own card – safe from prying eyes
- In general: packaging should be checked for authenticity and integrity before use
In addition to the signer itself, the Ledger Nano Gen5 comes with a cable with USB-C connection for charging and data exchange. It also includes three recovery sheets for writing down the seed phrase so that it can be stored in different places in the future – protected from prying eyes, of course. The recovery key of the ledger is imprinted on the small black card, while the enclosed regulatory declaration completes the scope of delivery.
Fundamentally important: When unpacking, always check that the packaging is originally sealed and intact – after all, safety is the be-all and end-all.
Installation
- Simple set-up process via app
- Recovery phrase must be noted on recovery sheets
- Optional: Recovery phrase can be transferred to recovery key via NFC
To set up the Ledger Nano Gen5, you first need the Ledger Wallet app, either for PC or smartphone. Older users may still remember the old name “Ledger Live” – a name change was also made here. In the next step, the signer is switched on by pressing a button on the right-hand side, followed by an initial introduction on the E Ink display. In the next step, the signer can be paired with a smartphone or PC via a QR code or Bluetooth. After a brief authenticity check in the Ledger Wallet or any software updates, a PIN and the device name can now be stored.
If you already have another ledger, you can either import the seed phrase from the old model or set up the signer as a new device. The latter generates a recovery phrase, i.e. a series of 24 English words that need to be written down. Thanks to different validations, the set-up process is organized and user-friendly, which is why even beginners should find it easy to keep track.
If you have documented the recovery phrase three times on paper, the black card is also available as a backup method. With this, the Ledger Nano Gen5 saves its seed phrase directly on the card via NFC, which can be done completely offline. A separate PIN is also required to secure the recovery key on the NFC card.
User-friendliness
- E Ink touchscreen ensures simple, smooth operation in everyday life
- Supports over 15,000 cryptocurrencies, installation of many blockchain apps possible
- Signer can also be used for 2-factor authentication
In terms of user-friendliness, the Ledger Nano Gen5 is suitable for everyday use thanks to its E Ink touchscreen, beating its predecessors Nano S Plus and Nano X by some distance. While the navigation options with the buttons on the side of the predecessor models were rather cumbersome, the Nano Gen5 impresses with smoother animations and a better overview thanks to the large display. In terms of design, the Ledger Nano Gen5 is therefore more similar to the Ledger Flex or even the Stax, although both models are priced one category higher. In terms of battery life, the Ledger Nano Gen5 manages around 10 hours of normal use or up to 150 consecutive transactions.
Crypto fans will be delighted: the Ledger Wallet app can now be used to send, receive, buy, exchange or stake over 15,000 cryptocurrencies. Ledger provides an overview of all supported coins and tokens on its constantly updated website. Around 1.5 MB is available on the Ledger Nano Gen5 to install various blockchain apps. The largest digital currencies such as Bitcoin, Ethereum, XRP and Solana are of course represented here. If you want, you can also set a background image for the Ledger Nano Gen5 using the Ledger Wallet app. As a demonstration, we have placed the title image of the article there.
A clear recommendation for installation is the selectable app “Security Key”, with which the Ledger Nano Gen5 can be used for 2-factor authentication. The NFC interface is used for this, so that the smartphone is simply authorized via the Ledger Nano Gen5 when logging in.
Security first and foremost?
- Signer protects data, confirms transactions and manages your digital identity
- ST33K1M5 security chip offers top-level protection, similar to an electronic passport
- Functions such as Clear Signing and Transaction Check included
Ledger’s change of direction from hardware wallet to signer is for good reason – after all, such a device is now more than just a digital “wallet”. Rather, the signer protects your own data, enables transactions to be confirmed and thus helps you to control your own digital identity. The basis for this is the tested ST33K1M5 security chip, which has been certified in accordance with the international CC EAL6+ standard. For comparison: this level of security can also be found in the electronic passport (ePassport).
The factory-supported Clear Signing technology of the Ledger Nano Gen5 is also exciting. Simply put, every transaction can be verified a second time for approval directly on the device. Thanks to Bluetooth and NFC in particular, signing such transactions can be done easily while on the move – true to the motto: “Understand what you sign”.
In combination with the activated Transaction Check, every Ethereum transaction is simulated in advance via the three providers Blockaid, Tenderly and Cyvers and analyzed for certain warning signals. Among other things, the addresses used in the transaction and other risks such as address poisoning or phishing are checked. Based on this information, the system creates a brief transaction overview including a security assessment.
Conclusion
The test of the Ledger Nano Gen5 shows that the manufacturer has taken a big step forward with this generation. Although you have to pay around 70 euros for the Ledger Flex and more than twice as much for the Stax, the Nano Gen5 offers many of the functions of the more expensive models. This is not only evident in the E Ink touchscreen display, but also in the separately included Ledger Recovery Key, which is not available on the Nano X and Nano S Plus models. There are also well thought-out features such as the transaction check or the use of the Ledger Nano Gen5 for two-factor authentication.
However, there is potential for optimization with regard to other aspects: the E Ink display itself is not illuminated, which is why it can hardly be used in dark environments, if at all. In addition, although the build quality is good, it does not quite reach the level of the Ledger Flex or Stax due to the plastic frame and back. Internal storage space is also an issue: with a handful of blockchain apps, you will quickly reach your limits. So if you use a lot of apps on the Ledger Nano Gen5, you won’t be able to avoid uninstalling and reinstalling one or two.
And what does that mean in the end? The Ledger Nano Gen5 is exactly what it promises and offers a good middle ground for crypto beginners, long-term hodlers and active users with frequent transactions thanks to its simple handling and high security standard. However, if you only use your signer once a year, the Nano S Plus or X model should be sufficient. However, if you don’t want to do without the convenient benefits of the more expensive devices and carry out transactions regularly, the Ledger Nano Gen5 is a future-proof and affordable signer.
- Supports many coins including tokens and NFTs
- Can be used for 2FA
- Recovery phrase also via NFC tag
- Large E Ink touchscreen
- Very high security
- Versatile connectivity
- Display without backlight
- Limited storage space for blockchain apps
- Less robust plastic housing
Ledger Nano Gen5
Design & processing
Hardware & Performance
User friendliness
Price-performance ratio
93/100
The Ledger Nano Gen5 is positioned as a secure and modern signer with a large touchscreen, high user-friendliness and strong connectivity. However, it is priced higher than the previous Nano series from Ledger.
