Ledger is a company that specializes in safe cold storage devices, and Ledger Nano X is their most recent hardware wallet. The Nano X is outfitted with the newest and most sophisticated security features and was created to be the most safe and convenient hardware wallet in the cryptocurrency world. Due to receiving the prestigious CES Innovation Honoree Award before it was formally introduced, the product caught the interest of the entire cryptocurrency community.
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Gеnеrаl Infоrmаtіоn
The startup company Ledger created the Ledger Nano X. The company was founded in 2014 by a group of experts with backgrounds in entrepreneurship, embedded security, and cryptocurrencies. The team came up with the concept of developing secure solutions for blockchain applications. Ledger has offices in Paris, Vienna, and San Francisco.
Trezor and Keepkey are the two main rivals of the Ledger Nano X.
The oldest hardware wallet of the three is Trezor. It has been around since 2014 and was created by Satoshi Lab, the business that runs Slush Gaming Pool.
On the other hand, KеерKеу is thе “premium” wаllеt. It feels sturdy and has the nicest feel to it in your hands. The primary criticism of KeepKey is that it offers little support for numerous transactions.
What’s New In The Ledger Nano X?
When compared to the Nano S, the Nano X’s visual design and features are nearly identical. The wallet’s Bluetooth connectivity, which makes it more accessible, mobile, and user-friendly, is the Nano X’s most notable feature. Once you pair the Ledger Nano X using Bluetooth with your iPhone or Android, you will be able to check your balance, send & receive assets, install apps and add accounts. All of this is possible with a few simple smartphone taps.
First, you need to download and install the Ledger Live mobile app. The final authentication for your transaction must come from your Nano X, just like with the other Ledger products.
It is important to note that Ledger has made it possible to turn off Bluetooth from the Control Center for users who don’t trust it. If you decide to disable this feature, you can connect your device to a computer with a USB cable.
The Nano X comes with its own, built-in rechargeable battery, which is very convenient and makes the devices truly portable. There is no longer a need for users to carry the USB cable if they choose to connect via Bluetooth. Ledger Nano X owners don’t even need a Wi-Fi connection as they can make use of the mobile’s 3, 4 or 5G internet connection to make secure transactions on the go.
The Nano X is designed to store up to 100 applications simultaneously thanks to its increased storage size. For users who want to store hundreds of assets on a single device, this feature is very useful because it enables quick access to all assets with just a few taps.
Pros & Cons Of Ledger Nano X
Pros
- Can be managed from mobile device
- Very secure
- Supports more than 1500 cryptocurrencies
- Comfortable design
Cons
- Relatively expensive
Ledger Nano X Fееѕ
The network fees you choose when you start a transaction will affect how quickly it completes. Additionally, users have the option to select a custom fee if they are an advanced user from one of three fee levels (high, standard, and low) for a transaction.
Ledger Nano X Price
The price of the Ledger Nano X is $140 according to the official Ledger website, though prices may vary depending on the retail outlet. The less expensive Ledger Nano S, also known as the Nano X, costs USD 70.
Ledger Nano X Eаѕе Of Uѕе
Starting up with cryptocurrency can be challenging. Due to this, the Ledger Nano X was designed to be as simple and user-friendly as possible while still incorporating highly sophisticated security to protect your assets.
The wallet has a user-friendly interface that doesn’t require complex technical knowledge to operate. The device also has intuitive navigation. The company app for the Ledger Nano S, Ledger LIVE, includes easy, step-by-step procedures created to improve user experience in a safe manner.
Here are the steps tо gеt you started with Ledger Nano X:
- Establish a connection to your computer using the supplied USB cable. To set up your device, go to https://ledgerwallet.com/start and select Nano X.
- Set up your PIN by following the instructions on the screen. Your device is protected from unauthorized access thanks to the pin. Be careful to keep this in mind because three consecutive incorrect pen entries will cause the Ledger Nano S to be erased. And if the device is being used to store assets, you definitely don’t want that!
- Write down the 24-word recovery phrase and keep it in a safe place on your recovery sheet.
- Improve the software. Ledger provides a thorough and simple guide on how to do this, which can take up to 15 minutes.
- Install thе Lеdgеr аррѕ you need аs soon as “Your dеvісе іѕ now rеаdу” арреаrs оn thе screen. Download the Ledger Wallet Ethereum Classic or Bitcoin Classic apps.
Can I Replace The Nano S With The Ledger Nano X?
The quick response is “no”! Ledger has clearly stated that it will continue its support for Ledger Nano S as both models have their own separate features. The Nano S can serve as a backup and be kept at home in a safe or other secure location while the Nano X can be used to manage your crypto assets while you’re on the go. Due to its competitive price, the Nano S will remain the popular choice for novice traders whereas the Nano X is ideal for professional or serial traders who want to manage their digital assets anytime & anywhere.
Hence, the Nano X can be dubbed “A Bluetooth enabled Nano S on the go”
The good news for those who already own the Nano S is that they can easily transfer their assets to the Ledger Nano X using the companion app for Ledger Live.
Ledger Nano X Supported Cryptocurrencies
Ledger Nano X wallet supports more than 1100+ digital assets, with new assets added constantly. The list of top coins and tokens includes:
As of this writing, the following cryptocurrencies are listed in alphabetical order:
- 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
Click here to view the most recent and comprehensive list of digital assets that the Ledger Nano X wallet supports. The Nano X supports every coin that is supported on the Ledger Nano S.
How Do I Set Up Ledger Nano X?
There are six steps to follow when setting up Ledger Nano X.
Get Ledger Live as the first step.
The software required to configure your device and manage cryptocurrencies is called Ledger Live. You can download the desktop app for Windows, Mac and Linux on Ledger’s official site, and get a mobile app from Play or the App Store.
When you’ll download an app, add an account that will allow you to manage crypto.
Create a new device in step two.
To set up a new device, you need to turn it on first. Just press and hold the button next to the until the Ledger logo appears, plug it into a USB port. Once it’s done, you’ll need to read the on-screen instructions. By pressing the right or left button, you can move forward or go back. When you’ll see “Set up as a new device” on the screen, you need to press both buttons simultaneously.
Pick a PIN number in step three.
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.
To validate a digit, press both buttons at once after choosing it with any of the buttons. Your code should consist of 4-8 digits, so once you’re done, press “✓“. To verify the pin, type it in again.
Write down your 24-word recovery phrase in step four.
After entering the pin code, you will see the recovery phrase on the screen. You must make sure to carefully record it because it will only be given once. To begin, press both buttons and you’ll see word #1. Make a note of it and press the appropriate button to advance to word #2. Continue until you have all 24 words. To continue, press both buttons once more.
Select the #1 recovery phrase by clicking the right and left buttons at this point. Keep going until you have verified all 24 words. Your device is also prepared! Access the Dashboard by pressing both buttons.
Step 5: Install apps.
You can install applications on your device once it is prepared. Just navigate to the Ledger Live Manager and select the required apps to get started. You can find apps for Bitcoin, Ethereum, XRP, Litecoin, and many other well-known cryptocurrencies.
Access to the Ledger dashboard is now available.
How To Receive Funds
You must have Ledger Live, a created account, the required app, and all other prerequisites before you can receive crypto assets. 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: Decide which account to use.
Step 4: Verify that the address displayed in Ledger Live corresponds to the one displayed on the device.
Step 5: Copy the address and share it with a person that will send you funds.
Even though we already determined that the Ledger Nano X wallet is secure, you should exercise caution and make sure that the address you share with others is the same as the one you initially provided.
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: You should enter the amount 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: Verify the accuracy of all transaction details by going over them one more time. Press two buttons to confirm it once you’re ready.
Step 5: Your purchase has been confirmed!
Using this hardware wallet might seem a little difficult at first, but if you read this Ledger Nano X review carefully, you shouldn’t have any problems.
Whеrе Tо Buу Lеdgеr Nаnо X
The Ledger Nano S hardware wallet is available from a wide variety of retailers. But getting your gadget straight from the maker is always safer. Ledger Nano X can be purchased at https://shop.ledger.com/products/ledger-nano-x.
Check out Trezor or Ledger’s other model, the Ledger Nano S, for additional hardware wallet choices.
Comparison
So, is purchasing Nano X still worthwhile? Some of the most crucial features that the Ledger Nano S lacks have been added to the Nano X.
- Larger internal memory that holds more coins: Unlike its counterpart, Nano S, which has an internal memory of 320kb and is quite constrained, Nano X has an internal memory of 2048kb, which can hold more coins. With this wallet, you can put an end to the challenging process of installing and uninstalling apps on the older Nano S, which can only store about 4–5 apps. The Nano X can hold the entire app library at once because it can install up to 100 apps. The compatibility of Nano X with virtually all of the major cryptoassets is even better. Additionally, it supports recently introduced cryptographic assets.
- Multi-signature support: Nano X supports multi-signature support, in contrast to most traditional hardware wallets that only support a single signature key. Single keys may appear to give you, the fund owners, complete autonomy, but they can actually be very risky. This is due to the fact that it concentrates a lot of power into a small group of alphanumeric characters (i.e., your private key). This difficulty is overcome by multi-signature wallets like Nano X. When more than one key is needed to approve a cryptographic transaction, this is referred to as multi-signature. Usually, this kind of signature is used to assign ownership of cryptographic coins to different parties. Multi-signature wallets, which demand an M-of-N signature, are powered by the multi-sig technology. This is extremely helpful if you want to recover your money if you lose your only key or if you’re starting a business and don’t want to give one person the authority to make purchases.
- Bluetooth functionality & mobile support: With its Bluetooth and mobile functionalities, Nano X keeps up with the trend of modern technology devices becoming more understated. Without constantly connecting your hardware wallet to your computer, you can conduct transactions with your cryptocurrency.
- Priority software and firmware updates: The company gives priority to updates for Ledger Nano X whenever it introduces new, improved features. This makes it a wise investment because you’ll probably get better support than those who have Nano S.
Conclusion
Therefore, Ledger Nano X is one of the most reliable hardware wallets in the market. Hackers cannot access it because it is a cold wallet and your private keys are stored offline.
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.