The Ledger Nano X is worth considering if you’re looking for a top-of-the-line cryptocurrency wallet. This hardware wallet has many features that stand out from the competition, including Bluetooth connectivity, a large storage capacity, and advanced security features. In this Ledger Nano X review, we will take a closer look at some of the key features of this popular wallet.
What is a Ledger Nano X?
The Ledger Nano X is a hardware wallet for crypto that enables offline, secure storage of your crypto assets and NFTs. The Ledger Nano X supports over 5,500 different types of digital assets, making it one of the most versatile cryptocurrency wallets on the market. The device itself is designed to be compact and easy to use, with a color touch screen and an intuitive user interface.
The Ledger Nano X also features Bluetooth connectivity, so you can use it with your mobile device or computer without worrying about loose cables. And if you’re ever worried about losing your device, you can always restore your account on another Ledger Nano X using the 24-word recovery phrase.
What’s Inside the Box?
Well, the Nano X Ledger is delivered in a white, well-designed, and packaged box. Inside the box, you should expect to find;
- A USB Cable
- Ledger Stickers
- A keychain strap
- Three recovery sheets
- The Ledger Nano X
Pros
- It supports multi-signature
- The wallet is very user friendly
- It has a USB-C cable for easy accessibility
- It is Bluetooth enabled to help with wireless connections
- It has an improved display compared to the previous versions
Cons
- It more expensive than its predecessors
- You cannot change addresses on the device
How Does the Ledger Nano X Work?
The Ledger Nano X is simple to set up. If you have a phone, a tablet, or a computer. Nano X has its own operating system, Bolos, but it is also compatible with Microsoft Windows, Android, Linux, iOS, and macOS.
This means using these operating systems can use the wallet with any device. Because it also syncs with other online wallets, you can also use wallets like MyEtherWallet.
What you need:
- The latest version of the Ledger Live App can be downloaded from the Ledger website
- USB cable that came in the box
- The Ledger Nano X
Step 1: Download the Ledger Live App
The first step for you is to download Ledger Live, an app available on iOS and the Google Play Store.
Please note: Different scams have managed to infiltrate the internet. When downloading the app, ensure you only do so from the Ledger website.
Step 2: Set Up the Device
Once you have the app, open it and choose the device you want to set up. Ledger has three devices listed, and the one you need is the Ledger Nano X. Select the part that says “initialize as a new device.” Here, you will only follow the steps the app provides.
Step 3: Set up your PIN and Seed Phrase
The next step is to set a PIN code that ranges from 4-8 digits. In this step, you don’t have to use the app.
The monochromatic screen will light up, and you can input your pin. After you have set the pin, write down the 24-word mnemonic seed phrase that will come up on the Nano X’s screen. This mnemonic phrase will help you recover your crypto if you lose your Ledger Nano X.
Step 4: Synch your Phone and the Ledger Nano X
Proceed to pair your phone and the Ledger Nano X via Bluetooth. After a successful pairing, set the password on the Ledger Live app to keep anyone who wishes to gain access to your account from doing so.
Choose the data you would like to share with Ledger Live. When all is done, the device is ready to be used. All this will take about five minutes. When transacting, you will need to download an app for each currency you need, like Bitcoin. The app will have an account that you can use to send and receive these currencies.
Ledger Nano X Supported Coins
Holding your cryptocurrency in a Ledger Nano X hardware wallet is equivalent to keeping it off the internet. The Ledger website states that Nano X supports more than 5,500 coins. Some popular coins you can store here include;
- Bitcoin
- Etherium
- Ripple
- USD Tether
- Bitcoin Cash
- Polkadot
- Litecoin
- Binance Coin
- EOS
- Tezos
- Stellar
- Shiba Inu
- Link
- Compound
Ledger Nano X Fees
The Ledger Nano X fees are not generally defined as they depend on the currency you transact with. With this wallet, you also have the option to choose between high, standard, or low. If you are a more advanced cryptocurrency user, you can have a custom fee.
What to Consider When Buying Hardware Wallet Cryptocurrency Wallet
Price
Before buying anything, one of the first considerations is the price and value you will get from the device. The Ledger Nano X is a popular device because it delivers on each aspect it is designed for.
When considering buying a hardware wallet, you want something that will serve you but is also within your budget. Nano X Ledger has quickly scrambled and placed itself within the best hardware wallet list. The Ledger Nano X costs about $149 on the official website, including free shipping.
Design
In the cryptocurrency industry, you need a hardware wallet designed to suit your personal and financial needs. Ledger has been putting a lot of effort into the design of its latest release.
Like its predecessor, the Ledger Nano X retains a USB stick’s exemplary design. This means you can hide it in plain sight as a keychain or something else. Furthermore, the screen has been upgraded to a better design. The type C USB cable is shorter and has an intricate nylon braid. The confirmation button is bigger and produces a softer sound when a notification pings.
Its buttons have been designed better so you can easily use them with your thumbs. The exterior design is also built to withstand some levels of pressure. If you sat on the device, it would most likely survive.
Easy to Use
You may find things a little complicated if you are new to the cryptocurrency industry. The Ledger Nano X was created with the user in mind. There are no hidden buttons or complicated steps since the design is as simple as possible. All of this is accomplished while maintaining high levels of security.
The interface is simple to use, and the screen is well-lit. Each and every number is clearly visible. Additionally, the companion app will help you navigate since you are not required to use it alone. The Ledger Nano X is also synced via Bluetooth to the Live app, something other competitors cannot boast of.
Anonymity
One of the most popular features of cryptocurrency is anonymity. There are no paper trails, and you can be assured that your money is safe every time. As with all the Ledger devices, you are assured of the utmost anonymity with all your funds.
With more than 5500 currencies supported, you do not have to worry about any of them being tagged with your name. Even with the app, the security that comes with anonymity is guaranteed.
Security
When cryptocurrency users select a wallet of their choice, security is one of the most important considerations. The Ledger Nano X provides security both online and offline. The device cannot be easily hacked or broken.
The security feature they take great pride in assures users that their assets are safe both when the device is plugged in and when it is not. Even when you connect it to the app, your crypto is protected by a cutting-edge security system. Whatever currency you have in your wallet will be accessible only to you or someone to whom you have granted the password.
Features and Benefits
Ease of Use
The Ledger Nano X, an upgrade from its predecessor, the Ledger Nano S Plus, is one of the most user-friendly hardware wallets available today. You can use it with the Ledger Live app to better navigate transactions. You can easily use the wallet and app as a beginner or advanced user.
Full Node Support
Ledger now has full node support that is live through the Satstack software. With Satstack full-node support, users can connect the full node to the app and the native wallet software. With this possible, you can be assured you cannot expose the XPUB and possibly their blockchain activity.
Coin Control
Coin control is an aspect that allows you to select the Unspent Transaction Output (UXTOs) so you can decide between the Last In, First Out, or the First In, First Out arrangement.
Considering the tax implications accompanying it, you also need to think about the security intricacies it might involve. This means you do not have to spend any little bitcoins you have. This feature ensures you are not “dust attacked,” a move that allows people to track you.
This feature is now available in the advanced settings of the Ledger Live app, making it the only hardware wallet that supports native coin control.
Multiple Currency Control
The Ledger Nano X can support at least 550,000 different coins, which covers many of those in the industry. Their coin support is always expanding, and they are always adding more.
It supports popular coins such as Bitcoin, Litecoin, ZCash, and more. Users can send and receive numerous cryptocurrencies, verify accounts, and manage their addresses from the Ledger Nano X.
NFT’s Support
Ledger announced native NFT support with the X series! This is a significant advancement for the cryptocurrency and NFT communities. Ledger is the most popular hardware wallet in the world, and the addition of native support for NFTs will make it much easier for people to securely store and use their tokens. This is a massive win for the NFT community.
Is the Ledger Nano X Safe?
The Nano X Ledger is one of the market’s most popular hardware wallets due to its security. When you purchase that device, you can be assured that all your money is well-kept.
Ledger’s ‘Security Element’ is one of the most sought-after, and it guarantees that all of your coins are untouchable by any unauthorized access. This is made possible using Ledger’s software “Root of Trust.” This software also helps you determine if the hardware you are using is genuine and if it has been tampered with before.
Conclusion
When considering buying the best cold wallet on the market, the Ledger Nano X is one of the top choices. The device is one of the most secure. It has a very stylish design and supports multiple currencies. Due to its compatibility with Bluetooth, you can enjoy the convenience and flexibility that comes with that.
FAQS
Is Ledger Nano X Safe?
Yes, it is. The Ledger Nano X is one of the best hardware devices. Its “Root of Trust” software allows users to tell whether their hardware has been used before or not.
Which is better, Trezor or Ledger?
The Ledger Nano X is a very secure wallet, but unlike the Trezor, its use of Bluetooth opens up room to attackers. Also, going with the model T, you might have a better screen to work with.
Does the Ledger Nano X Have a Touchscreen?
At the moment, no, it does not. The gadget uses buttons, and the monochromatic screen only works for display. There might be upgrades in the coming models, so watch out for that.
How Much Storage Is on the Ledger Nano X?
The Ledger Nano X has a 1.8 MB storage capacity, and you can store up to 70 coins at the same time.
What Happens if There are New Cryptocurrencies – Do I Need a New Hardware Wallet?
No, you do not. Ledger already supports up to 5,500 coins and is always working to increase its cryptocurrency portfolio.
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