Ledger Nano X Review

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About Ledger Nano X

Ledger Nano X box with device

Here it is, the new Ledger Nano X. The latest addition from the Ledger team, now Bluetooth-enabled. With Bluetooth the Nano X can be used with mobile devices, which makes sense in today’s mobile world. It will also come with a bigger screen, more memory and a slightly bigger price tag.

So the question will be asked, is Ledger Nano X worth the investment? And should you buy a Ledger Nano X?

I am very excited to try it out and see if it’s worth upgrading to from my Ledger Nano S.

I think that any serious crypto trader and holder should really consider buying a secure hardware wallet as soon as possible. This becomes extra important if your overall portfolio was becoming quite valuable for you.

There are no safer and more secure wallets than hardware wallets. And if you do care about your cryptocurrencies then I urge to consider the benefits a safe hardware wallet like either Ledger Nano X or Nano s would give you.

The French team (now global with over 130 people) that launched their businesses in 2014 have seen them become a global force in the cryptocurrency space. The Ledger Nano S has become together with Trezor One and Model T one of the most popular cryptocurrency wallets out there.

Now they have an upgraded version – the Nano X and you might be wondering is it worth the extra money compared to Nano S?

The main differences between Ledger Nano X andd Ledger Nano S are:

  • Bigger storage space – meaning you can use it with more crypto applications. Meaning you can store more cryptocurrencies with it. This makes it easier for you to only have one hardware wallet for all your cryptocurrencies. This would save on reducing hassles and make it easier as a holder
  • The other is that it comes with Bluetooth. So now you can use Nano X with any Bluetooth-enabled devices. I.e. any mobile phone or tablet.

With the Ledger Nano X, you can have more than 60 + coins and over 1250 ERC30 tokens. With new ones added often. All dealt with smoothly through your Ledger Live app.

Ledger has recently added their “all in one companion” application for the Ledger Nano X hardware wallet called Ledger Live find out more about how it works here

 

Supported coins

The Ledger Nano X supports most of the popular cryptocurrencies, including many altcoins, allowing you to manage multiple assets with the same hardware wallet.

With the Ledger Nano X you get additional storage space compared to the Nano S.

This means you can download more cryptocurrency apps and store more cryptos at the same time via your device.

Normally on the Ledger Nano S you can have between 3-4 apps at the max. With Nano X you can have up 100 apps at the same time.

This is extremely useful so that you don’t have to remove one app to install another.

60 + coins and over 1500 + ERC20 tokens

  • Bitcoin
  • XRP
  • Ethereum
  • Stellar
  • Bitcoin Cash
  • EOS – Tether
  • Litecoin
  • VeChain
  • Monero
  • Tron
  • IOTA
  • Binance Coin
  • Dash
  • Neo
  • Zcash

Ledger cryptocurrency support

For the full list click here

Security

Hardware wallets are considered the most secure types of wallets that you could use with your cryptocurrencies. 

This is due to several reasons:

  1. They protect your private keys in a better way than other wallets. Your keys never leave your device and always stays offline
  2. They have added pin codes for additional protection
  3. With the Nano X and S you have a dummy account feature for theft-protection
  4. Incredibly robust and audited
  5. Backup-friendly with your secret passphrase

 

Make sure you keep at least one backup of your passphrase. This is the 24 words that can recover your wallet using any Ledger device, or for that matter Trezor device, or other wallet. 

They are using the BIP39 standard, and you need to use the correct derivation path.

Ledger Nano X Features

The Ledger Nano X comes with a range of useful features and that makes it one of the most complete hardware wallets on the market.

For example:

  • Smart pin features – Set your own personal pin as another pass protection. But you can also set up additional pin codes that would lead to another dummy account. In the case of you needing to keep your main account hidden and only share limited information (under threat for example)
  • Passphrase security – A random passphrase made up of 24 words that acts as your backup and keys to your wallet. With these securely backed up you can always reset and access your wallet again and from any Ledger devie (or other devices too)
  • Bluetooth –  This means that you can use your hardware device now with other mobile devices. And no need to use the USB cable (unless you prefer). Now you can easily connect your Ledger Nano X with mobile iOS and Android devices.
  • Bigger storage space – Now, with the added storage space you can download additional crypto wallet applications onto your Ledger device. So you can now use the Nano X with many more applications and cryptocurrencies.
  • Ledger Live wallet application – This new wallet application from Ledger makes it so much easier for you to interact with your Ledger device and your cryptocurrencies. Now you can access your coins and tokens and easily track your portfolio balance, send and receive cryptos more easily and manage all your crypto needs
  • 3rd party application support – You can easily use your Nano X together with other wallet applications (MEW, MyCrypto, etc). And most cryptocurrency and blockchain projects build for Ledger. Meaning that you can buy a Ledger and know it will be good for the long term.

Ledger has recently added their “all in one companion” application for the Ledger Nano X hardware wallet called Ledger Live find out more about how it works here

Why you should get a Ledger Nano X

Why choose Ledger Nano X

  1. Increased storage and cryptocurrency capacity. One of the biggest reasons for getting a Ledger Nano X over the S model is the increased capacity of course. The Ledger Nano S is still a great crypto hardware wallet. But the storage is a bit too small. Which means that you can have fewer crypto wallets supported on your device.
  2. Wireless connection. With the Ledger Nano X model, you can connect your device to your computer wirelessly. Which adds an extra dimension to the user experience and makes operating your device a bit easier.
  3. Ledger Live. The recently added new portfolio feature called Ledger Live has been a well-received addition. From it, you can easily view the value of your portfolio
  4. It’s also password protected and it comes with an interesting feature where it allows you to log in to a ‘dummy’ account using a separate password.
  5. It is easy to set up and install. With clear instructions available both on their website and in the shipping box.

Frequently asked questions about Ledger Nano X

  • How does the Ledger Nano X work?

These hardware wallets can be used either via Bluetooh connection or USB to connect them to a mobile device or computer. And then you can use it to generate your new crypto wallet addresses. Send your cryptocurrencies to these addresses. You can use Ledger Live or many other 3rd party applications to interact with your coins and tokens stored on the wallet addresses you sent them to.

  • Can I use Ledger Nano X with mobile devices?

Yes you can! Not only does it has Bluetooth supported so you can connect it with your mobile iOS or Android devices (mobiles + tablets). But you can also download Ledger Live now for your mobile devices too. So you can track your portfolio in real-time from your phone (without actually connecting to your hardware device)

Ledger Live support for desktop and mobile devices

  • Is Bluetooth less secure than using the USB cable?

No it is not. The Bluetooth-feature only gives more connectivity options but it doesn’t really affect the core security of the Ledger devices. Which means that your private keys never leave the device. And Bluetooth doesn’t change this fact.

“The private keys never leave the secure chip, therefore Bluetooth communication (BLE) does not expose the Ledger Nano X to any additional security threat”

  • How many apps can I use with Ledger Nano X?

You can today use 100 different wallet applications with the Ledger Nano X. That is five times the support the Nano S has! You can use any crypto app that exists for Nano S on the Nano X. And that gives you one of the best supports for all hardware wallets on the market.

  • Is the Ledger Nano X better than the Nano S?

Well it comes with additional storage space. With Bluetooth, and with upgraded security chip. So yes on paper it is a better, more responsive and richer wallet to pick. But that doesn’t make the Nano S are worse wallet. It really as good and secure wallet today as it was a couple of years ago.

It just makes the Nano X slightly better.

  • Where do I buy Ledger Nano X?

You should only buy the Nano X and Nano S from the official Ledger shop. Don’t buy it from anywhere else as there are always risks for it being tampered with otherwise.

So check out the official support to buy a Nano X or Nano S!

So make sure you keep your coins and tokens safe and be wise to invest in a safe hardware wallet like Nano X. That’s what I’ve done!

Conclusion - is the Ledger Nano X worth it?

Hands down I think this is the best hardware wallet around. But that is a personal opinion due to my own experience. I’ve been using the Nano S for a while, I preferred that over the Trezor devices.

But maybe you are in the Trezor camp? But let me tell you that with Ledger Live, the added storage space and mobile-enabled I really like the Nano X.

It is a great hardware wallet, and yes it is worth the extra money if you are just about to buy a new hardware wallet.

I am thinking if you are curious about cryptocurrencies and you can see yourself invest in a few then right there you need the X over the S. Due to the added storage space.

Sure if you only wanted to use it with Bitcoin and Ethereum the S would be fine. But more than 4 or 5 cryptocurrencies at the same time? Get the Nano X.

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