If you have been investing or trading cryptocurrencies, you will know that hardware wallets are the best secured wallets for long-term investment safety.
However, you being right here means you’ve heard about the latest version of cryptocurrency hardware wallet by Ledger company, and want to know if it is a good one to switch to for maximum security.
Trust me – you are a smart investor though!
Before we continue, you need to know that, Ledger SaaS company recently released the Nano X hardware wallet, because they have being producing digital asset security since 2004 (just after the Mt.Gox hack).
Well, in this blog post content, am going to reveal what is under the hood of Ledger Nano X hardware wallet, so you too can decide if you will go for it or not.
Let the review begin… Shall we?
What is Ledger Nano X?
Ledger Nano X is currently the latest version of crypto hardware wallet in the line of Ledger SAS manufacturing company. It was announced in January 2019, and started the pre-order in March of the same year.
Right now, Ledger Nano X hardware cryptocurrency wallet is shipping every where in the world for free.
This hardware is said to be the best product in the cryptocurrency market, as it is touted as the superior to all other hardware wallets, and i also believe the same.
Ledger Nano X is a re-defined version of the predecessor, Ledger Nano S with the latest security of digital assets like; Bitcoin, Ethereum etc. And that is what brings to the next point, which is the price of this new crypto wallet.
Ledger Nano X price
The crypto hardware wallet is priced at $119. This also include VAT (Value Added Tax) and shipping to almost any country of the world.
Note: Make sure, whenever you want to buy this wallet, do not buy from eBay, Amazon or an unauthorized dealer as you may end up buying a hacked or faulty wallet. Always buy from the official Ledger hardware wallet website.
Unboxing Ledger Nano X
The Ledger Nano X box normally comes the gadget itself, and some other important components as follows:
- The hardware wallet
- A USB cable
- Manual leaflet
- Three recovery sheets
- A key-chain strap rope
Nano X on the body texture looks like it is made of brushed stainless steel and plastic casing. It looks more smaller in size than the Ledger Nano S.
Ledger Nano X features
Features of Ledger Nano X are what make it stand out in the market. Some of the features that the company is boasting about are:
Nano X is the first crypto hardware wallet to have Bluetooth connectivity, making it the most mobile and easy to use a hardware wallet.
But having Bluetooth feature has attracted some criticism from the experts as Bluetooth related hacks have been a long-standing problem.
However, Nano X touts to be a sufficiently safe Bluetooth implementation that transmits only public data, while keeping your private/seed keys safe. So even if your Bluetooth is hacked, the attacker cannot access your funds.
Nano X is having a larger screen as compared to its previous version and is almost twice in size (72mm x 18.6mm x 11.75mm).
This makes it possible to have the buttons on the front and easy to navigate OLED screen, which previously the users have complained to be very small.
PIN & Seed Features
Standard PIN code and seed back-up features are available in Ledger Nano X too.
Passphrase is like adding one more custom word to your 24-word seed. You can use as many passphrases as you want and for each passphrase, a whole new set of addresses will be generated.
However, this feature is only recommended for advanced users as losing or forgetting your passphrase will make your funds permanently inaccessible even after you have the seed words.
Lock and Power Off
You can set your device to auto-lock your screen or go completely power off after a period of inactivity. However, you can make your device active again by entering your PIN.
Ledger Nano X app
You can connect your device to Ledger Live Mobile app and safely manage your coins on-the-go. However, Bluetooth is not compatible with the desktop application.
Ledger Nano X is the first widely popular battery enabled crypto hardware wallet. The 100 mAh battery is designed to last for several hours and expected to live at-least five years upon proper use.
However, this was much required to be a truly mobile and Bluetooth enabled device. Now you can connect it easily with your iOS or Android devices and roam around as much as you would like.
Ledger Live Support
If you still want to stick to the old way of using your USB C-type cable, you are most welcomed to use that with your Ledger Nano X device. The process to upgrade your firmware and set-up your device remains the same.
Ledger Nano X supported coins
The Ledger Nano X was designed to support a large number of crypto; over 1000 coins are supported and a total of 100 crypto apps, meaning that the device was designed to cater for all your cryptocurrency needs conveniently with top-notch security.
Some of the major coins supported are;
- Bitcoin (BTC)
- Bitcoin cash (BCH)
- Bitcoin gold (BTG)
- Stellar (XLM)
- Ethereum (ETH)
- Ethereum classic (ETC)
- Dash (DASH)
- Litecoin (LTC)
- Ripple (XRP) etc…
It supports ERC-20 tokens but to do this, you will need to connect an alternative app to your “Ledger Live” app e.g (mycrypto wallet, myether wallet).
Pros and Cons
This device like every other bitcoin hardware wallets has its area of strength and weakness, here are some of them;
- It is user friendly
- Supports a large number of coins
- Has a rechargeable inbuilt battery
- Bluetooth connectivity allows you to use the device anywhere with your smartphone.
- It is a bit pricey
- The Bluetooth connectivity is weak
- It is difficult to see the text on the screen under the sunlight
Ledger Nano X vs S
Ledger Nano X has outstanding features compared to its predecessor, Nano S. However, the Nano S can still secure your crypto coins and also far more affordable.
What is the difference between Ledger Nano S and X?
The only noticeable different between these two hardware wallets from Ledger SaaS, is the Bluetooth feature in the new Ledger Nano X wallet, which is not available in Ledger Nano S.
Nano X vs Trezor T
The Trezor T is the latest hardware wallet that was introduced by Trezor security company. It comes with a touch screen, which is not worth the high price, considering the Nano X qualities and lower price tag.
They both support a large number of cryptos and are the major competitors in the hardware market today.
Update: The Ledger backup plan is a new package by Ledger. Synchronizing the Nano X and S to your one account, while maintaining the same private keys is now very possible.
How to use Ledger Nano X
This device is one of the easiest hardware wallets to set up, but can be very tricky if you don’t follow and understand the instructions on the screen.
Below are the steps to follow to set it up:
Step 1: Set Your Pin Code
On starting your new hardware wallet, you are required to set a pin of 4-8 digit character. To have a stronger pin, it is advised for you to create up to an 8 digit code.
To do this, press both buttons to choose “set up as new device“, and then you press the left or right button to choose a particular digit from 0-9.
Step 2: Save Your Recovery Phrase
After your pin has been created the device will display a 24-word recovery phrase that is used to back your private keys.
So if the device gets stolen or lost, you can easily enter the phrase in your new device and regain control over your wallet.
This recovery phrase should be written down in a safe place and should not be shared with anyone.
Step 3: Connect To “Ledger Live”
The “Ledger Live” is a software application that helps you to access your wallet from your computer or smartphone. You can download and install the app from web browser on your computer.
“Ledger Live Mobile” can be gotten from Google play store for Android users and iTunes for IOS.
You are to connect to your computer using the USB Cable found in the box and Bluetooth pairing is required to connect you to your smartphone.
Step 4: Download Crypto App
When you are done installing the “Ledger Live”, the next important step is to download the app for the particular coin you wish to use.
For example, if you want to send or receive bitcoins from the wallet, you are to download the bitcoin app from the list of other crypto apps that will be displayed on your screen.
You can repeat this procedure for other cryptos.
Step 5: Add Your Accounts
After installing the crypto app, you are required to create an account that will enable you to start sending and receiving funds to and fro your device.
These steps are quite easy to undergo and won’t take you more than 5 minutes to finish setting up your new device.
Frequently Asked Questions
How does a ledger Nano X work? The cryptocurrency hardware wallet is a Bluetooth® enabled secure device that stores your private keys in offline, and also make sure all your crypto assets are safe, wherever you go.
Is the ledger Nano X safe? Yes of course! Nano wallets have been keeping good records wen it comes to full security and reliability.
Where can i buy Ledger Nano X? You can always buy from the official Ledger hardware wallet website, which you will get free shipping to any country of your choice.
Does Ledger Nano X have discount? As at the time of writing this review, the Ledger Nano X cost up-to $119 and there is no discount specified by Ledger company.
But you can buy both Nano X and S from Ledger at a 20% discount rate for $149, instead of $178 when you buy them separately.
How many apps does Nano X support? Ledger Nano X supports up-to 100 apps, which help it to get connected to the crypto assets and tokens.
My Ledger Nano X verdict
Why don’t you simply try and buy one doe yourself, so you will have a feel of how it looks and functions. But if you have one already, then you should let me know how you see it.