A hardware wallet is necessary if you’re serious about holding digital currencies. A crypto wallet stores your digital currency similarly to how the wallet in your pocket does with physical money. It keeps it secure from hackers while still being easily accessible when needed. In terms of wallets, the Ledger Nano X strikes a good balance between ease of use and security. It offers a high level of security in an offline wallet while still being user-friendly for beginners.
How Does The Ledger Nano X Work?
Ledger is a hardware wallet manufacturer, and their product is the Nano X.
They also produce the Nano S, a comparable but simpler and less expensive version.
With a hardware wallet, you keep your cryptocurrency on an offline, USB-style device.
It is much more secure than other crypto wallets because you must confirm transactions made to send or receive cryptocurrency to or from your Ledger wallet on the Nano X device.
The benefits of using a hardware wallet are:
- keeps your cryptocurrency offline and out of hackers’ reach.
- brings your cryptocurrency under your control and off of exchanges.
Private keys that are stored on the Nano X are never made public.
Your private keys will therefore not be made public and your crypto will stay locked, even if you connect it to a compromised computer.
The Ledger Nano X lets you:
- Take full ownership of your crypto and keep your private keys confidential
- Secure over 1,800 coins and tokens, including Bitcoin, Ethereum, XRP, and more
- Manage and grow your crypto with the Ledger Live app
- Install up to 100 apps
- Connect with your iOS or Android smartphone via Bluetooth
- Increase the value of your holdings by directly staking Tezos, Tron, Cosmos, Algorand, or Polkadot in Ledger Live, or by lending your DAI, USDC, and USDT.
It’s also simple to set up and operate.
Pros & Cons Of Ledger Nano X
Pros
- Mobile compatible. Ledger can be used on mobile devices thanks to Bluetooth compatibility.
- Familiar and secure. It is the same highly regarded Ledger Nano as before, but now it has more features.
- App features. The Ledger Nano X’s functionality is greatly increased compared to earlier models thanks to the added memory and better screen.
Cons
- Pricier. The Nano X is still more expensive than earlier hardware wallets, despite being competitively priced within its industry.
Interface And Ease Of Use
One of the most user-friendly hardware wallets is the Ledger Nano X. Furthermore, all well-known decentralized apps like MetaMask, Uniswap, and all renowned Dex, to name a few, natively support it. Alternatives to the Ledger Nano X abound, but none enjoys the same level of widespread acceptance as Ledger wallets.
The Ledger Nano X comes packaged in a weatherproof container when you order it (always do so from the official website). Download the Ledger Live app and pair your Ledger Nano X with a computer or mobile device using Bluetooth or a USB-C to USB-A cable after you’ve opened the box. Ledger Nano X setup is possible on desktop or mobile devices. You can find comprehensive instructions online and on the official Ledger live app to get the most out of the Ledger Nano X hardware wallet. The design and interface are easy to use.
How To Set Up The Ledger Nano X
When you open and unbox your Nano X, you’ll find:
- 1 x Ledger Nano X
- 1 x USB cable
- 3 x Recovery sheets
- 1 x Instruction manual
- 1 x Use, care, and regulatory statement
- 1 x Ledger stickers
It’s simple to set up the Nano X. Although it doesn’t take long, you should take your time to complete the task correctly.
The basic steps are:
- Create a 4-8 digit PIN
- Download and install the Ledger Live software
- Generate and write down a 24-word recovery phrase (keep this safe)
- Confirm the phrase back to the Nano X
- Pair with your mobile and start installing apps
- Then transfer your crypto to your ledger device
Using The Ledger Nano X
The Nano X has a premium-feeling folding metal cover and is bigger than the Nano S.
In addition, the X’s screen is much bigger and clearer, making it much simpler to manage apps and read transactions and wallet addresses.
The two front-facing buttons also make using the X more straightforward than using the earlier Nano S.
The larger screen makes signing transactions simple, which speeds up the sending process.
The Nano X’s internal battery and Bluetooth compatibility set it apart significantly from the Nano S.
You can use the wallet while traveling thanks to the battery’s up to 8 hours of standby time.
In other words, you can use the X by connecting it to your phone instead of constantly using a USB cable.
The X’s compatibility with iOS and Android, as opposed to the S’s limitation to Android, is another fantastic feature.
Is The Nano X Safe?
The question of whether the Nano X is unsafe because of Bluetooth connectivity was the one I had to address in my Nano X review.
Crypto enthusiasts are sharply divided on this issue; some users rip Ledger for including Bluetooth, while others say they prefer this feature.
Is Bluetooth A Security Risk?
As of this writing, there have been no Ledger Nano X hacks that can be definitively linked to Bluetooth connectivity.
The simple fact is that Bluetooth does not expose the wallet’s private keys even when the Nano X is “hot” (internet-connected).
It simply doesn’t operate that way. Your Nano is assisted by Bluetooth in receiving the unsigned transaction, returning the signed transaction, and then requesting confirmations from the gadget.
Since you are already transmitting the same information to the public web, this is identical to plugging your Nano X into a computer.
Whether or not you use Bluetooth, the private keys in your wallets are never made public.
When you want to purchase, trade, or use your cryptocurrency, you can do so without being restricted to a laptop or desktop thanks to Bluetooth.
Which Cryptocurrency Assets Does Ledger Nano X Support In Total?
Every well-liked blockchain is supported by Ledger Nano X. For example, you can store Coins and tokens on the following blockchains:
- Bitcoin
- Ethereum – Buy ETC Miner
- Bcash (BCH)
- EOS
- Stellar
- Litecoin (Antminer L7 – Best Litecoin ASIC Miner)
- Monero
- Ripple (XRP)
- ADA
- Solana
- NEAR
- AVX
- Filecoin – Buy Filecoin Miner
Read more: How to Install the Filecoin App on Your Ledger Device
Using the Ledger Nano X, you can manage more than 5500 coins and tokens.
What Other Information Do I Require About Ledger Nano X?
In 2014, at the height of a massive boom for bitcoin storage systems and hardware wallets, Ledger unveiled its first hardware wallet.
It quickly became one of the most well-known hardware wallets available, and two years later, with the hugely well-liked Ledger Nano S that the company released in 2016, it solidified its reputation as one of the leading manufacturers in the space.
The Ledger Nano X, one of the most well-liked hardware wallets available today, is the long-awaited update to the Nano S. It adds mobile functionality, more storage, a bigger screen, and other features.
The Ledger Nano X and CoolWallet S were the only hardware wallets that could connect to mobile devices via Bluetooth as of January 2019 (the Ledger Nano X was the other). Although it is very challenging to create hardware wallets with extensive Bluetooth compatibility, it gives you access to a much wider range of smartphones.
What Is Ledger Live?
The Ledger Nano X companion app is called Ledger Live. Think of Ledger Live as your Ledger Nano X’s (Hardware) software interface. The Ledger Live app can be downloaded for free and works with all popular desktop and mobile operating systems. To connect your hardware wallet to the Ledger Live app, use any USB cable (C type to A).
Ledger Live has many unique features such as:
- Monitor your portfolio
- Receive and send cryptocurrencies
- Swap cryptos using the Paraswap app (Permissionless)
- Buy crypto using Ledger Live App
- Monitor your NFT portfolio
- Manage cryptocurrencies and blockchain on Ledger Nano X device
Where Can I Get Ledger Nano X?
Always purchase Ledger Nano X from the company’s official website or, in rare circumstances, one of the listed authorized resellers.
It has happened that users who purchased Ledger Nano wallets from eBay with pre-filled seed words have lost their cryptocurrency. Always place your orders from this official website to be extra safe.
Ledger Nano X Review: Pricing
Ledger clarified that the product’s price will fall between that of the Ledger Nano S standard model and that of the Ledger Blue, which is currently the most technologically advanced product in their lineup.
The prices for Nano S and Blue are $59 and $269,99, respectively, while Nano X falls in the middle at $119. According to the company’s announcement, Nano X has already entered the production cycle; pre-orders for the device are open and Ledger expects to ship the first fully operational devices.20
Potential buyers can anticipate free shipping of their device, a 14-day return policy, and the choice of more than 15 different payment options when buying Nano X.
Conclusion
With sales of 1.5 million units, the Ledger Nano S was once the company’s standard-bearer. It has some serious flaws that simply wouldn’t fly in the current crypto world, despite still being regarded as a safe and reliable wallet. Its constrained software and unimpressive physical qualities gradually rendered this wallet commercially unnecessary and opened the door for Nano X.
The problems mentioned above are addressed, and Nano X provides significant improvements over them. It offers better hardware and software than its predecessor and is faster, more secure, mobile-friendly, and easier to use.