The Ledger Nano X is a hardware wallet for cryptocurrencies and one of the most popular models by the company Ledger. Compared to the others on the market, it is certainly of a higher level because it has a greater capacity for coins and offers Bluetooth connectivity.
This makes it one of the best tools for managing your crypto assets. In the next paragraphs, we will provide you with a detailed guide on the hardware wallet in question. Through our analysis of its operation, pros and cons, supported cryptocurrencies, and reliability, you’ll be able to decide if this is the right crypto storage for you, or not.
What Is Ledger Nano X Hardware Wallet?
Compared to other models, the Ledger Nano X is an even more compact and lightweight hardware wallet. It weighs just 34 grams, making it a perfect pocket device. In addition to the latter, the package includes a USB cable for connection to a PC or smartphone, the illustrated sheet with instructions for using Ledger Nano X, a strap to hang the device around the neck, and three sheets for password recovery with instructions in case of loss.
How Does Ledger Nano X Work?
Ledger Nano X is used to manage your operations with cryptocurrencies: with this device, you can store, swap, or send crypto. To add a cryptocurrency just access the Ledger Live software from any device, and once opened you need to authenticate with your credentials, through the main panel, where all the wallet functions are available.
Once this is done, you need to go to the catalog of available crypto, choosing the one you want to add to your wallet. After selecting the cryptocurrency you are interested in, the application will start downloading. The code will be transferred to the Ledger Nano X, which from that moment will be ready to host wallets of the selected cryptocurrency. To complete the storage on the device you will have to provide your private keys to the wallet.
By clicking on the “Receive” button, we will display a unique code that can be used as the destination address for sending the crypto of your choice directly to the Ledger Nano X. The procedure for sending cryptocurrencies is identical, with the only difference being that you need to click on the “Send” button .
Ledger Nano X Operating System
The operation of Ledger Nano X is based on the BOLOS operating system, developed by the same company. It doesn’t have open-source code, so it can’t be customized by developers. However, this also means that it is not accessible to potential attackers looking for bugs. That’s why the company guards every string of BOLOS code, the security of the Ledger Nano X is absolutely at the highest level.
There is no need to do any external installation by downloading to the PC and transferring via USB cable because the operating system is already installed inside the wallet microchip. This is good for its security – this step, foreseen in some competing products, allows on the one hand to download the firmware versions that you prefer, but on the other hand, it unnecessarily exposes the hardware wallet to an Internet connection, thus increasing the risk of the user being hacked.
That said, Ledger Nano X is compatible with Windows PC (8 or newer) and MacOS (10.9 or newer), and mobile devices (Android 7.0 or newer; iOS 9 or newer). This means that it can be connected to all operating systems released or in any case updated after 2017. Before buying it, it’s best to check the characteristics of the system installed on your device.
Cryptocurrencies Supported by Ledger Nano X
The Ledger Nano X hardware wallet can handle a large number of cryptocurrencies. It starts with Bitcoin and Ethereum, which are obtained when the device is first set up. Then, you can add via the wizard:
To make it work, the device doesn’t need you to install all the cryptocurrencies, only the ones you need for your investments. In fact, the hardware wallet allows you to manage up to 100 cryptocurrencies at the same time.
Where to Buy and Pricings
The Ledger Nano X can be found on the company’s official website, in computer stores, and on the most famous online stores such as eBay which at the moment offers it for 119.00 euros.
For the security standards that the hardware wallet has, the quality/price ratio is excellent. As this is a highly appreciated product, however, it, unfortunately, has a high risk of falsification. That’s why it’s recommended to use the official channel, or Amazon, which also offers reviews on the wallet’s sales page as a guarantee.
Is Ledger Nano X a Reliable Wallet?
Yes, considering its characteristics, the Ledger Nano X is a reliable device. Obviously, no method is 100% secure, but the key, and hardware wallets in general, have the advantage of having limited access to the network. Therefore they guarantee a lower risk of being attacked by hackers.
Note: Losing the block sheet or not remembering the phrase of your wallet, or even losing the USB stick, means losing all your data. In this case, the company will not be able to do anything to help you. Hence, reliability also depends on how you handle your device.
Is Ledger Nano X Safe?
The hardware wallet is secure, thanks to several tools. The first is 2Fa two-factor authentication, which materially creates difficulty in the event of an attack. Another useful tool for device security is the Secure Element chip – a safe and certified chip, inside which your private keys are stored and protected.
Advantages and Disadvantages
The Ledger Nano X is the enhanced version of the S model, and for this reason, some flaws found in the use of its predecessor have been overcome. Among the significant additions, stand out Bluetooth connectivity and a further reduction in size.
In general, it is an easily configurable and manageable hardware wallet – you just need to use the Ledger Live application, which allows you to securely use a wide variety of cryptocurrencies directly from your smartphone or desktop. With Ledger Live you can manage more than 1100 cryptocurrencies, and thanks to the large capacity of the hardware wallet it is possible to manage up to 100 cryptocurrencies simultaneously on a single device.
Ledger Nano X does not have many cons: It lacks the hole for the lace, and the holes inserted in the narrow part of the Ledger are not as comfortable as in the S version. There is some doubt about the durability of the device: the battery life exceeding two years could have deteriorated considerably, even if the company speaks of a total duration of five years. But for that moment it could also be the case to buy a new model just released.
Ledger Nano X vs Ledger Nano S
Obviously it is also right to compare Ledger’s two flagship devices – the Ledger Nano X and the Ledger Nano S. The latest model certainly has features that meet the needs of the most committed brokers. If you have a frenetic pace of trading, the Nano X is to be preferred. In any case, this device can also count on a more valid battery over time (estimates are talking about at least five years of use without any problems). The Nano X, compared to the Nano S, also has a screen that is twice as large.
If you notice that you need a larger ROM to use many more apps at the same time, then you should use the Nano X. It depends on the frequency of transactions. As mentioned already, all investors who work every day with exchanges and need a wallet continuously should prefer Nano X, but if instead you simply need to secure the private key, then you can choose the Ledger Nano S.
In case you need to connect an iPhone for your operations with the hardware wallet, you can only use the Nano X. In fact, only this device allows you to connect a smartphone via Bluetooth. If you have an Android device, you can do without it and connect the USB cable of the Nano S. Using Bluetooth, although encrypted, is a little riskier. Of course, the chance that someone will be able to crack the encryption in the exact 2 seconds you are using the Nano X for an iPhone operation via Bluetooth is small but still should be considered.
Ledger Nano X characteristics make it seem like a very compact, valid, and safe device. It is also simple to use as everything is explained when switched on. Of course, a minimum of study on cryptocurrencies is necessary in order to make the most of them. Furthermore, the connection to a smartphone is very fast and stable, and the app works well. This hardware wallet is highly recommended for those who use and manage different cryptocurrencies. If you use one or at most two, the S version is still worth it at half the price.
While this hardware wallet seems like a reliable choice, we recommend conducting your personal research and not relying solely on reviews. Always put the safety of your funds first and make informed decisions.