Hardware wallets are probably the most secure way to store your crypto assets, but unlike their software counterparts, they are not free and come at a cost.
The way hardware wallets work is your private key never leaves the device, and the transaction signing is always done on the device. You can even use a compromised laptop or PC without compromising your assets.
They offer multiple layers of security, the first being a PIN code that needs to be entered every time you launch your ledger. In case this PIN was entered incorrectly a few times, the device is wiped and you would need the 24 seed words to restore it. So make sure to keep these 24 words safe!
Ledger hardware wallets have a sleek design and they constantly update the firmware, so you will have new features even on older versions.
The ledger nano S supports only a few cryptocurrencies at the same time, you would have to manually delete/install wallets for space. But the wallets can be re-installed and the actual addresses and balances don't change.
The newer version, Ledger Nano X currently supports over 1185 cryptocurrencies and has much more space for you to use as many wallets as you need at the same time.
To conclude, ledger hardware wallets offer top security at a small cost. They are highly secure and you can restore any lost device using the seed phrase. If you send/receive many crypto assets at the same time, the ledger nano X will be a great option for you.