Ledger introduced the Ledger Nano X second-generation hardware wallet. This article will discuss my personal experience with this device and my thoughts on whether it’s the best wallet.
The Ledger Nano X is more advanced than any other wallet on the market. Its enhanced capacity for coins and its bluetooth connectivity make it a great tool for managing cryptocurrency assets. Despite this, it still needs to improve the user experience.
Perks Hardware Wallets Can Provide
The beauty and simplicity of hardware wallets lies within their simplicity. They are simple devices that keep your private keys and never connect to the internet. That means nobody can remotely access them. Hackers can’t access them. Information needed to access your crypto is kept offline and in ‘cold’ storage.
Hardware wallets are not only able to store your private key (which proves that you own your crypto), but also can sign transactions on behalf of you before they are added to the network. The entire process of storing and using cryptocurrency is simple and secure.
Hardware wallets are often shaped like flash drives and connected to your computer the same way. However, even if the hardware wallets are connected to a computer that is infected or controlled by hackers, they can’t be accessed unless the recovery phrase is obtained. This is something only you know. You can keep these safe and hackers will not be able to access them.
Hardware wallets are the safest method of storing crypto. It’s probably high time that you get one.
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The Ledger Nano X topped the list when we reviewed five of the best hardware wallets on Coin Bureau. Its features and design made it an excellent choice for people looking to purchase a hardware wallet. Ledger products can be trusted; they are tops in the industry.
We’ve decided that we would revisit this beauty and give it a deeper look. In this Ledger Nax X Review, we will go over every aspect of the Ledger. We’ll also look at the company behind the wallet, and the software that allows you use it.
An Overview of Ledger
Ledger began its existence in France in 2014 and has since been a prominent player in the crypto industry. Inspired by the idea to ‘create secure solutions for Blockchain applications’, its founders were drawn from many backgrounds, including engineering and internet security. The company currently employs more that 300 people. It has offices throughout the world, including in Paris, Vierzon in central France and New York. Zurich and Singapore are also available.
There are currently three Ledger devices available: the Nano X (which is Ledger’s flagship model), the Nano S (a smaller version of the Nano S), and the new Nano S Plus. Nano S models cost significantly less than the Nano X and have fewer features. However, it is still an excellent option for people who want to save some money on their first hardware wallet.
Trezor, Czech company producing the Trezor One (and Trezor Model T) devices is Ledger’s main competitor in the hardware wallet market.
Setting Up Ledger Nano X
Step 1 – Set up a pin code
When you first turn on the device, it will ask you for a 4–8-digit PIN code. You can toggle numbers using the buttons. Pressing both buttons simultaneously will allow you to enter.
Step 2 – Write down a seed phrase
The seed phrase is your wallet’s password. It is important to keep it safe and secret at all time. 24 words will be sent to you upon initialization of the device. Write them down on a piece or paper and store them away. If the device is stolen, damaged or lost, you can retrieve your funds by using your seed phrase.
Because the seed phrase of your idea is so crucial, you will be asked to verify it completely after you’ve written it down. Ledger has this exact same process as TREZOR.
Step 3: Ledger Nano X – mobile pairing
Connecting your Nano X with a mobile device is now the fun part. Previous Ledger versions couldn’t be controlled by the desktop software called “LedgerLive”. The Nano X can be controlled using the Ledger live mobile app. The pairing of the device should not be difficult, but it was disappointing. It was difficult to use and buggy. It took two attempts before it worked. When you can control the device through the app, the process becomes more complex. The app will prompt you to wait for bluetooth connectivity before you can approve the action. It is more common for devices to not have an “approve” option. In this case, it will take a few seconds before the action can be approved.
Step 4 – Install apps
Once the device is paired you can install apps that are specific to the coins you use.
Step 5 – Add accounts
This was my most confusing step. After I installed the Bitcoin application, I was certain I was ready. You must also create a Bitcoin account, which is not shown in the user interface. Ledger has a detailed onboarding procedure, but I expected it to feel easier as I am a long-time Bitcoiner. After 5 minutes spent going back and forth, I finally found the missing step. Once that was done, it was easy to understand how to control your device.
Ledger Nano X Online Purchase
Hardware wallets don’t often sell at local shops. That is why you can order them online. Ledger sells its hardware wallets via its own online shop. The online shop sells accessories, as well as hardware wallets. Ledger nano X currently sells for 119,000.00 EUR (click HERE to check the price). Ledger Shop has many advantages, such as free shipping, easy returns within 14 days, multilingual customer support with crypto experts, and security that you will receive an original device. You can also order your device through any of the official resellers. Resellers can be found all over the globe.
The Ledger X Nano X comes packaged in a small box measuring 8x13x3cm. This contains the hardware wallet as well as a keychain strap. A USB C cable can be used to charge the device or connect it to the computer. A multilingual fast start guide and three recovery sheets are included for backup purposes. Stickers can also be found.
Ledger Nano X unboxed
You can open the hardware wallet again, just like the Ledger S Nano S. Simply rotate the brushed steel cover. The technology lies beneath a plastic case. By bending, the cover of stainless steel can be removed completely.
You will notice that the Ledger Neo X is slightly bigger and heavier than its predecessor, the Ledger S. This can be attributed to the internal 100mAh lithium battery. It is also available for use via Bluetooth. However, the OLED display also has a larger size. The buttons have been moved from top to front: A silver button on each side, and a black button on the left. There’s an eyelet to attach the keychain strap on the right and a USB port on the left.
Ledger Nano X Supported Cryptocurrencies
Ledger nano X supports more then 1000 coins and tokens. The Ledger Live software interface can be used to send or receive the main coins. Here’s a list listing the top supported coins.
Bitcoin (BTC), Ethereum Classic, (BTG), Bitcoin Cash and (BCH), Bitcoin Gold and (BTG), Bitcoin Cash and (BCH), Bitcoin Cash and (BCH), Bitcoin Cash & (BCH), Bitcoin Classic (ETC), Stellar XLM), Ripple XRP), Stellar XLM), Stellar XTC), Stellar XLM), Stellar XRP), Stellar XLM), Ripple XRP), Stellar XLM), Stellar ZEXCash (ZEX), Dash
ERC-20 tokens and less “popular coins” are the most popular (i.e. Alternative software is required to link to the Ledger in order to send and retrieve coins used in ICOs (e.g. MyEtherWallet, MyCryptoWallet).
I mentioned that the Ledger lets you do more than just hodl. The Ledger allows you to manage, hold, buy, sell and exchange.
Ledger Live allows users to access many NFT and DeFi apps. It unlocks the full potential of cryptocurrency. The only way for crypto enthusiasts to get into the fantastic world of DeFi was via online wallets and browser extensions wallets like MetaMask.
Ledger is a trusted provider of integration and support for many popular DeFi and NFT applications over time. To play in the cool-kids DeFi pool users don’t need to store their crypto assets in an online wallet.
Ledger Nano X NFT Support
This is a Ledger Team update. It is awesome! Ledger is able to offer the same security as hodlers for crypto, and apply it to our beloved NFTs. Ledger allows users the ability to store, visualize, control, and enjoy secure ownership of all their NFTs.
Nano X retails for $149 (VAT not included), which is twice that of Nano S ($59 GST excluded). You pay for Bluetooth support and increased coin capacity (the Nano X has the ability to hold up 100 assets simultaneously). While this is a big price hike, it’s still worth it. Nano S’s limited storage for coins can sometimes prove to be a problem. The great thing about the Nano S is that you can access your hardware wallet right from your mobile.
Ledger did a tremendous job in taking their latest hardware wallet model to the next stage. The combination of the sleek device and “LedgerLive”, a feature-rich software program, makes the Nano X a great tool for managing cryptocurrency assets. The Nano X’s interface isn’t perfect. The UX needed to set it up takes some thought. And the bluetooth connectivity experience isn’t exactly smooth. This device is recommended, despite some drawbacks. Although it isn’t perfect, it still beats all other competitors.