With the growing popularity of cryptocurrencies, there’s also an increasing need for secure wallets. Storing your cryptocurrencies online may not be the best idea, however, hardware wallets are truly reliable when it comes to keeping huge amounts of crypto. That’s why this Ledger Nano X review might be exactly what you’re looking for.
In this Ledger Nano X review, I will provide you with all the details regarding this hardware wallet, including information about the company, Ledger Nano X supported coins, pros and cons as well as additional details.
By the end of this review, you should be able to decide whether or not the Ledger Nano X wallet is suitable for your needs.
Without further ado, let’s jump into details about the company and Ledger wallet.
Verdict at a Glance: Ledger Nano X is the leading cryptocurrency hardware wallet in the market. It offers ultimate security, supports more than 1,100 cryptocurrencies, can be managed from your mobile device and offers a more comfortable design compared to the company’s previous version. Even though Ledger Nano X is relatively expensive, its new features are completely worth it.
- Can be managed from mobile device
- Very secure
- Supports more than 1,100 cryptocurrencies
- Comfortable design
- Relatively expensive
Table of Contents
- 1. Ledger Nano X Review: Short Introduction to the Company and Wallet Itself
- 2. Ledger Nano X Review: PROS
- 2.1. Ultimate Security
- 2.2. Supports the Main Cryptocurrencies and More
- 2.3. Design and Usability
- 3. Ledger Nano X Review: CONS
- 3.1. Relatively Expensive
- 4. Ledger Nano X compared to Ledger Nano S
- 5. What Comes In The Ledger Nano X Wallet Package?
- 6. How to Set Up Ledger Nano X?
- 7. How to Receive Funds
- 8. How to Send Funds
- 9. Conclusions
Ledger Nano X Review: Short Introduction to the Company and Wallet Itself
Ledger was founded back in 2014 by eight specialists that have expertise in cryptocurrencies, embedded security, entrepreneurship and other safety solutions for blockchain applications. Currently, the company has more than 130 employees in Paris, Vierzon and San Francisco.
Interesting fact: Ledger is so popular that it has already sold more than 1 million devices. Impressive, right?
Ledger wallet is highly recommended for people who are crazy about security. It’s so much more reliable than software wallets that are connected to the internet and can be hacked at any time. Being a cold wallet, all of the assets that are transferred to Ledger Nano X are held offline. I’ll get more into details when talking about security in this Ledger Nano X review.
Ledger Nano X Review: PROS
Let’s begin this Ledger Nano X review from the positive aspects. Make sure to consider each of them before making the final decision.
“Is the Ledger Nano X safe?” - that’s one of the main questions that cryptocurrency enthusiasts keep asking before purchasing this device. For this reason, I want to make this super clear once and for all.
Ledger Nano X can provide you with ultimate security. It’s a hardware wallet (also known as a cold wallet), meaning that all of your Bitcoins, Litecoins and other altcoins will be securely stored offline. That being said, a hacker simply cannot access it online.
You might notice that Ledger Nano X has Bluetooth Low Energy (BLE) connectivity that allows you to use it without the need for a cable. While wireless connection sounds really convenient, it can also raise some security concerns. However, before jumping to conclusions, let me assure you that there are no security issues when it comes to Ledger Nano X.
Since only public data is transferred via Bluetooth and your private keys and seed never leave the device, there’s no reason to worry about that. The company highlights the fact that even if someone would hack Bluetooth connection, Ledger Nano X features Secure Element (SE) that would ask for your permission before making any changes.
What is more, it’s important to mention in this Ledger Nano X review that the company developed a unique operative system called BOLOS that integrates a secure chip for the Ledger wallet line. Ledger is the only wallet in the market that offers such technology.
Moreover, once you receive your Ledger Nano X device, you’ll have to create a pin code of at least 4 digits. Make sure to keep this code to yourself. In case you forget your pin, there’s a 24-word recovery phrase that you’ll be given in order to create a new pin. That being said, you shouldn’t be asking “is the Ledger Nano X safe?” because it’s one of the most secure cryptocurrency wallets in the market.
Now, since Ledger is a hardware wallet, it’s crucial to consider its protection against physical damage. The good news is that Ledger Nano X is made using the highest-quality materials that can protect the device from physical damage. Since the cover is made of stainless steel, it’s completely protected in case you drop it.
Software wallets (also known as hot wallets) work entirely differently. They can usually be downloaded on desktop or mobile devices. Many people choose hot wallets because most of them are completely free (except for fees) and are super easy to use. In most cases, even people who are using them for the first time can figure things out.
However, what’s important to understand is that you should never keep huge amounts of cryptocurrencies in software wallets - a hacker can install malware into your device and infect it using a keylogger that allows stealing your wallet’s private keys and possessing your cryptocurrencies. Doesn’t sound too safe, am I right?
Of course, I’m not saying that all software wallets are bad; they’re simply not as reliable as hardware options. That being said, you should only store an amount that you wouldn’t be too sad to lose in them.
Supports the Main Cryptocurrencies and More
If you’re not into the mainstream cryptocurrencies, such as Bitcoin or Ethereum, but rather prefer less popular options, it’s crucial to be aware of Ledger Nano X supported coins. After all, there’s no such device that would support all the existing cryptocurrencies.
Ledger Nano X supports more than 1100 coins and tokens, including the most popular cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- USD Tether (ERC20) (USDT)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Binance Coin (BNB)
- EOS (EOS)
Ledger also supports other, less popular altcoins, so even if you’re into less mainstream cryptocurrencies, I bet that you’ll be able to find your coin.
Design and Usability
Appearance-wise Ledger Nano X is almost the same as the company’s first model - Ledger Nano S. The only few differences are that it’s slightly heavier and has a wider screen, however, you can still fit it in your hand easily.
The navigation buttons are located next to the screen, just like in the previous model. If you want to press “enter”, just hold the two buttons together.
All in all, it’s safe to say that Ledger Nano X design is more advanced compared to the S version. Since you have a bigger screen, it’s easier to see wallet addresses and all the other needed details.
Moving further, if you want to connect Ledger Nano X to your computer, you can do that using USB-C cable, however, there’s also a possibility to use your wallet using a smartphone. The latter option is so much more comfortable as you can move your funds to the hardware wallet instantly. However, it might also raise some security concerns (due to Bluetooth connection) that I mentioned earlier in this Ledger Nano X review.
Thus, Ledger Nano X comes with some truly amazing updates that make an entire process of using this hardware wallet way more enjoyable.
Ledger Nano X Review: CONS
Even though Ledger Nano X comes with some great features, there’s also something that you should take into consideration.
When it comes to hardware wallets, one of the main problems is that you have to actually buy them. Even though their prices tend to vary, Ledger Nano X is one of the more expensive options.
Currently, Ledger Nano X price is 119,00 €. Compared to the S model that costs only 59,00€, that’s quite an increase. However, don’t forget that Ledger Nano X is a new and improved version that comes with really attractive features that you can find in no other wallet in the market.
While the price is one of the main reasons why people choose software wallets (most of them are free), security should always come first when it comes to storing cryptocurrencies. Just imagine losing all the coins you store in your software wallet, just because you didn’t want to purchase a hardware wallet.
Ledger Nano X compared to Ledger Nano S
I keep saying that Ledger Nano X is a new and improved wallet that can provide you with even more features, however, how is it different from the Ledger Nano S?
For the sake of clarity, I would like to provide you with a quick comparison of these two devices.
|Ledger Nano S||Ledger Nano X|
As you can see, there are a few main differences when it comes to Ledger wallets. Ledger Nano X can support up to 100 apps, has a bigger screen that improves usability, and provides Bluetooth compatibility that allows you to manage Ledger wallet from your mobile device.
While Ledger Nano X is twice as expensive, it comes with features that are completely worth the price.
What Comes In The Ledger Nano X Wallet Package?
Ledger Nano X comes with a package that contains 5 elements, including:
- 1 USB C cable
- 1 keychain strap for device
- 3 recovery sheets
- 1 getting started leaflet
- Ledger Nano X device itself
Even though further in this Ledger Nano X review you’ll find all the needed information on how to use the device, there’s always a starting leaflet that will guide you through the process.
How to Set Up Ledger Nano X?
There are six steps to follow when setting up Ledger Nano X.
Step 1: Get Ledger Live.
Ledger Live is a software that’s needed to set up your device and manage cryptocurrencies. You can download the desktop app for Windows, Mac and Linux on Ledger’s official site, and get a mobile app from App Store or Google Play.
When you'll download an app, add an account that will allow you to manage crypto.
Step 2: Set up as a new device.
To set up a new device, you need to turn it on first. Just press and hold the button next to the USB port until you see the Ledger logo. Once it’s done, you’ll need to read the on-screen instructions. You can proceed by pressing the right button and go back by pressing the left one. When you’ll see “Set up as a new device” on the screen, you need to press both buttons simultaneously.
Step 3: Choose a PIN code.
After performing all the previous steps, it’s time to choose a PIN code. Simply press both buttons simultaneously until you see “Choose PIN code” on the screen.
Use any of the buttons to select a digit and press both buttons simultaneously to validate it. Your code should consist of 4-8 digits, so once you’re done, press “✓”. Re-enter the pin to confirm it.
Step 4: Write down your 24-words recovery phrase.
After entering the pin code, you will see the recovery phrase on the screen. Since it will be provided only once, you have to make sure to write it down carefully. To begin, press both buttons and you’ll see word #1. Write it down and press the right button to move to word #2. Continue until you have all 24 words. Once again, press both buttons to proceed.
Now, using the right and left buttons, you need to select the #1 recovery phrase. Continue until you confirm all 24 words. And, your device is ready! Press both buttons and access the Dashboard.
Step 5: Install apps.
Once your device is ready, you can install applications on your device. To do that, simply go to the Ledger Live Manager and choose the needed apps. All of the most popular cryptocurrencies are available, you can find Bitcoin, Ethereum, XRP, Litecoin and many other apps.
Now you can access the Ledger dashboard.
How to Receive Funds
To receive crypto assets, you first need to make sure that you have Ledger Live together with a created account as well as the needed app. For example, if you want to receive Ethereum, you need to install the Ethereum app. After it’s done, follow these steps:
Step 1: Press the Transact tab that you can find at the bottom of the app.
Step 2: Tap “Receive”.
Step 3: Choose the account to use.
Step 4: Confirm that the address that’s shown in Ledger Live matches the one that you can see on the device.
Step 5: Copy the address and share it with a person that will send you funds.
Even though we already figured out is Ledger Nano X wallet safe, you should still be careful and make sure that the address you share with other people is the same as it was provided initially.
How to Send Funds
Before sending funds, you need to enter transaction details. Here’s a quick guide on how to do that:
Step 1: Press on the Transact tab that you can find at the bottom of the app.
Step 2: Tap “Send”.
Step 3: Choose the account that you want to send funds to.
Step 4: Enter the recipient address. You can do that either manually or by tapping “Scan QR Code”.
Step 5: Enter the amount that you want to send.
Step 6: Press “Continue”.
After entering transaction details, you will need to verify and sign. Here’s how you can do that:
Step 1: Check the transaction details and if they’re correct, tap “continue”.
Step 2: Make sure that your device is turned on and unlocked and then select the Ledger Nano X to send with.
Step 3: Open the crypto app and tap “continue”.
Step 4: Go through all transaction details and make sure they’re correct. Once you’re ready to verify it, press two buttons.
Step 5: Your transaction is verified!
It might seem slightly challenging to use this hardware wallet, however, if you followed this Ledger Nano X review that shouldn’t be an issue.
On Ledger Nano S
Get optimal protection by purchasing Ledger Backup Pack that contains both Ledger Nano X & Ledger Nano S, the following with 50% off!
Therefore, Ledger Nano X is one of the most reliable hardware wallets in the market. Since it’s a cold wallet and your private keys are held offline, hackers have no access to it.
Moreover, compared to Ledger Nano S, the newer model provides better usability. Not only it allows you to use a mobile app to manage crypto assets, but also has a bigger screen that makes it more comfortable to navigate.
When it comes to Ledger Nano X supported coins, the device is compatible with more than 1,100 cryptocurrencies. That being said, you’ll be able to store not only the most popular but also less known coins and tokens.
I hope that this Ledger Nano S review was helpful and you manage to find all the information that you were looking for. Whatever you decide, always know that cold wallets can protect your cryptocurrencies best.
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