Ledger Nano X Review 2022 - Comparewise
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Ledger Nano X Review 2022

  • Transfer and receive 1300+ crypto assets and tokens
  • Satisfies the strictest criteria for hardware wallet security
  • Option to use it with your phone using Bluetooth

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The Ledger Nano X is a high-end cryptocurrency hardware wallet that provides an incredible number of features in addition to cutting-edge security. The crypto community has given only positive reactions to this hardware wallet. In our Ledger Nano X review you’ll learn all about it.

The Ledger Nano X and the rest of the Ledger product line are incredibly popular because of the high level of security provided by the hardware wallet as well as its capacity to transfer and receive more than 1300 different crypto assets and tokens.

Any person who has cryptocurrency needs to make maintaining its safety their top priority at all times. Investors, who are lucky enough to hold hundreds or even millions worth of cryptocurrency, should think about the safest way to store their fortune and choose the wallet as their number one priority for their assets. Let’s get into our Ledger Nano X review.

That’s why investors love, and give positive reactions to Ledger Nano X, because it’s very secure for their assets. As holders of cryptocurrencies, we should constantly be asking ourselves how secure our assets really are and giving thought to where we are keeping them stashed.

The idea that someone may steal them or that the platform we store them on might one day be legislated out of existence is terrifying. There is nothing more devastating than seeing our hard-earned cryptocurrency go up in smoke after all of the effort and financial investment that went into accumulating it.

You are in luck because there is a solution for you to stop worrying about the safety of your cryptocurrency, and there are things that can help you get a good night’s sleep despite the fact that you are certain that your assets are safe.

Keeping your cryptocurrency stored on a hardware wallet is, without a shadow of a doubt, the most reliable and efficient method for preserving its safety. It is true that it is less difficult and more convenient to leave your money on an exchange.

However, you would need to have faith that its security mechanisms are able to survive assaults from hackers who are keen on following in the footsteps of those who stole cryptocurrency from Coinbase, Binance, and the list goes on and on. Hackers often focus their attention on cryptocurrency exchanges.

Even the most reputable and secure cryptocurrency exchanges have fallen victim to hacking in the past. Is it thus worth taking the risk to keep your money there? Utilizing software or a mobile wallet that allows you access to your private keys via the use of your phone is the next step up in security after doing so.

If you continue to keep your phone secured against viruses and malware, and if you activate additional security features like biometrics, strong passwords, two-factor authentication, and so on, this provides a respectable degree of protection against hackers and malicious software.

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If you keep your cash in a software wallet, you are at least protected from the hazards posed by third parties, such as hacks of centralized exchanges and excessive regulation of such platforms. It is important to keep in mind that both of these choices have a significant flaw, namely that they may be linked to the internet.

Therefore, hackers always have a spot to begin their attack, regardless of what security measures are in place. That leads us to the greatest degree of crypto security, which is also the aim of this article, the powerful hardware wallet, which is the pinnacle of secure crypto storage options.

Ledger Nano X Pros as a Hardware Wallet

An important part of our Ledger Nano X review is the pros of this hardware wallet. The elegance of hardware wallets may be actually found in their simple design. They are very straightforward devices that safely store your private keys but do not connect to the internet. As a result, unauthorized individuals are unable to log in remotely.

Hackers are unable to access them, and the information that is required to retrieve your cryptocurrency is stored offline in a facility referred to as “cold storage.” This type of wallets has many benefits, they not only can story your private keys, but they have the power to also sign transactions on your behalf, which basically means that they first sign, and then they are adding them to the network.

This allows you to more securely interact with your cryptocurrency. The whole process of keeping and making use of cryptographic assets is made secure and user-friendly. Hardware wallets often resemble flash drives, and they are linked to your computer in a manner that is very similar to that used for flash drives.

Basically if your computer or some other else electronic is infected with malware or any other virus, or simply is under the control of some experienced hacker, the catch is that they still can’t be accessed without the recovery phrase, which makes it this wallet so secure, the recovery phrase is also known as the “seed” in the crypto community.

And that “seed” is something that only you are aware of and nobody else can have it. If you keep this secure, the cybercriminals will be left high and dry. Hardware wallets are, by some measure, the safest method to store your cryptocurrency assets; if you don’t already use one, you should probably start using one as soon as possible if you haven’t already.

When considering which wallet is the most secure, the Ledger Nano X emerged as the clear winner. Those in the market for an investment in a hardware wallet will find that its features, design, and price make it one of the top choices. You really cannot make a mistake by purchasing anything manufactured by Ledger; there is a good reason why they are regarded as one of the best companies in this sector.

However this Ledger Nano X review, will present you all of the possible characteristics of the Ledger Nano X, including how much it will cost you, how it operates and more. In addition, we will begin by taking a cursory look at the firm that is responsible for developing the wallet as well as the software that is used to operate the wallet itself.

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Some Important Facts Regarding Ledger

Next in our Ledger Nano X review, check out the history of this company. Ledger has been around since 2014, making it somewhat of a veteran in the cryptocurrency industry. Its origins may be traced back to France. Its founders come from a variety of fields, including engineering, internet security, and cryptocurrencies, and were brought together by the concept of developing safe solutions for blockchain applications.

Today, the firm is responsible for the employment of more than 300 individuals. It also has offices in New York, Zurich, Singapore, and other places too. There are presently three different Ledger devices available on the market. These include the Nano X, which is Ledger’s most popular product, its more compact brother, the Nano S, and the most recent upgraded version of the Nano S Plus, which was just introduced.

The Nano S variants are a lot less expensive than the Nano X models, but they don’t come with as many features. In spite of this, it is still a great choice for those who are seeking to get their first hardware wallet and who are trying to save a few bucks in the process.

Trezor, a Czech startup that manufactures the Trezor Model One and the Trezor Model T devices, is also a significant competitor for Ledger in the field of hardware wallets.

The App Version of Ledger Live

When it comes to actually utilizing them, however, hardware wallets need suitable software to do the majority of the work since their ease of use is one of its primary selling points. In this regard, Ledger devices are dependent on the proprietary software known as Ledger Live, and it is well worth your time to investigate this program in further detail.

Ledger Live not only allows you to safely manage the digital currencies and tokens that are already on your smartphone, but it also makes it possible for you to acquire cryptocurrency thanks to its agreements with Coinify and MoonPay. In addition, the cooperation between Ledger and Wyre enables more purchase alternatives for those living in Canada and the United States.

If you make sure that your hardware device is connected when you are purchasing coins, then those coins will be kept on the device automatically once the purchase is complete. There is a desktop version of Ledger Live accessible for those who would rather not manage their portfolios while on the move, in addition to the mobile application that can be downloaded from the App Store and Google Play.

Regarding the minimum requirements for your operating system, you will need Android 7 or above or iOS 9 or higher. If you’re a desktop user, you have the option of using Windows 8 or later, macOS 10.10 or later, or Linux. The Ledger Live gives you the opportunity as a customer to sell your bitcoin and lock in gains, without leaving the app and that makes the app very simple. Ledger Live also enables the sale of BTC using Coinify.

Coins That Can Be Stored On a Ledger Nano X

Up next in our Ledger Nano X review, let’s check out what coins you can store on this wallet. The software supports a huge variety of cryptocurrencies totaling over 5,500 different coins and tokens. Ledger facilitates the sending, receiving, and exchanging of cryptocurrency, as well as staking for a number of well-known Proof-of-Stake assets.

This is simply known as, your coins being put to work automatically to earn interest for you, while you are doing absolutely nothing. You will earn staking incentives whenever you stake, and these rewards will be added to your holdings over time. Although not all coins may be staked, Ledger Live supports the vast majority of the primary cryptocurrencies, such as Polkadot (DOT), Solana (SOL), and a few more.

Because people are becoming more aware of the advantages of staking, its popularity is growing, and as a result, every cryptocurrency program that is worth its salt has to include this option these days. It is quite vital to point out that the claim that Ledger supports over 5,500 distinct tokens might be illusive in some ways. Ledger really only supports a small subset of those tokens.

This is a claim that Trezor makes in the same vein as well. There is a significant gap between natively supporting assets via their own software and connecting with other parties for coin support when it comes to cryptocurrency exchanges.

Ledger-Nano-X-Bluetooth-Hardware-Wallet-Limited-Genesis-Block-Edition-Comparewise

However there are consumers, who acquire these hardware wallets, but after acknowledging the situation they are instantly dissatisfied, that some supported currencies may only be supported via third party. This indicates that you will still be able to safely store these currencies with Ledger, but you will not be able to manage them using the Ledger Live platform.

If you decide that you want to store these tokens on your ledger, be prepared because it will be a bit of a struggle, and it’s not nearly as convenient as simply using the wallet’s native interface, what you will need to do is actually going to follow the instructions on their site, and after that integrate the ledger with that third-party wallet to provide the interface that is required to interact with your tokens.

Ledger Nano X Features

As part of our Ledger Nano X review, we’re proud to highlight some important features that you can benefit from. Because of its diminutive size and the fact that it weighs just 34 grams, the Nano X may be used in a manner that is both unobtrusive and convenient. Along with the actual gadget, the package will also include a USB Type C cable, an instruction manual, a keychain strap, and three different papers on which you may write down your recovery phrase.

The buttons have been tastefully incorporated, which results in a device that is both more streamlined and contoured than the Nano S. The ‘Enter’ key may be activated by pushing both of these buttons simultaneously. The gadget gives you the ability to navigate using these two buttons.

The Bluetooth connection of the Ledger Nano X, which enables you to operate it from your phone, is the primary benefit that it offers over its predecessor, the Nano. The fact that the Nano S can only be accessible via a computer represents a significant advancement in terms of ease of use.

The built-in screen of the Ledger Nano X is significantly bigger, and although the Nano S could only hold between three and five wallet applications, the Nano X has space for one hundred. Note that the upgraded Nano S Plus is identical to the Ledger Nano X in that it is capable of installing up to 100 programs and has the same size screen.

Despite this, it does not support Bluetooth or mobile devices and does not have a user interface that is optimized for mobile use. The Nano X, in contrast to the Nano S, has a battery, allowing it to operate independently of an external power source.

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This is one of the most significant differences between the two models. Because of their greater storage capacities, the Nano X and Nano S Plus are able to accommodate a substantially wider variety of currencies, including some of the less common ERC-20 tokens.

This is made possible by the fact that these two devices have a bigger overall size. The first generation of the Nano S is ideal for holders who are simply interested in keeping a small number of various cryptocurrencies in their possession.

Ledger Nano X Setup

Our Ledger Nano X review wouldn’t be complete if we didn’t walk you through how to set it up. Here’s a quick run-through. After you have removed the wallet from its packaging, the first step is to connect it to either your computer or your smartphone by using either the USB cord that is included or the Bluetooth connectivity. When you are finished, you will be given the option to set up a pin code for the device so that only you will be able to use it.

If your Nano X were to fall into the wrong hands, this additional layer of protection would be of critical importance. After this step has been completed, you will be provided with the words that comprise your seed phrase. It is essential that you put this in writing and keep it in a location that is both safe and secure.

Because if you lose this seed phrase, you won’t be able to access your wallet, it’s a good idea to create numerous copies of it and keep them in separate places. If you do lose it, though, you won’t be able to access your wallet.

Many people who have considerable holdings of cryptocurrencies resort to the extreme measure of storing a duplicate of their seed word in a bank vault for additional peace of mind. This may be a step too far for most of us, but it demonstrates how significant those recovery words are in their own right.

Although some other hardware wallets provide you the option to skip this step and finish it at a later time, doing so is not advisable. The time spent correctly configuring your equipment is not time lost, and this essential step in ensuring its safety should not be pushed off until a later date.

Therefore, finish what you started, and make sure that the crypto is safe. After you have completed the necessary security procedures, you will be able to link the Ledger Nano X with either your computer or your phone. You are able to start transferring your coins over onto the device if you already have Ledger Live set up and are doing so.

If you haven’t already, you should download and install the app first, and then install any wallet applications that you’ll need for the different aspects of your portfolio. After this has been completed, the screen of the gadget will walk you through the process of putting your coins onto it. You should now be ready to go and everything should be set up properly.

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Important Note

This applies to any and all cryptographic software. Make sure that if you download software, you do it only through the URLs that can be located on the corporate website. Under no circumstances should you browse and download applications by browsing the Apple App Store or the Google Play store.

There have been a multitude of instances of fraudulent applications that seem to be identical to the genuine version, even down to having bogus ratings and download statistics, making it impossible for users to distinguish the two. Scammers are able to steal the cash if a consumer installs a bogus app without their knowledge and then pays money to the app.

Ledger Nano X Specifications

Next in our Ledger Nano X review, here’s some specifications to keep in mind for this product. For those of you who are tech nerds, the Nano X utilizes the BOLOS operating system developed by Ledger and comprises two distinct processors. In addition, the encryption on the gadget is of such a high degree that it prevents hackers from accessing any data over the Bluetooth connection.

Therefore, despite the fact that the more complex capabilities of the Nano X should, in theory, present additional points of failure in terms of security, any possible entrance points for hackers and viruses have been sealed up, and the device is still safe.

You may configure the device to use a variety of different wallet interfaces thanks to a nifty additional feature known as a secret wallet, which is also included. For example, if someone is forcing you to give them access to your device, you can just simply misdirect them to a wallet with only a very low amount of coins contained within it by using a pin code that is different from the one they are using.

Even if they manage to get away with the device, they won’t be able to get to the bulk of your coins since they won’t know where most of them are placed on the device and won’t be able to access them. Certified Secure Element (CC EAL5+), the most stringent security standard in the business, is used by The Ledger.

In addition, the security of Ledger has been independently validated by ANSSI, which means that it satisfies the most stringent criteria that exist for the security of hardware wallets. The actual gadget is secured by a pin that the user sets, so even if someone were to get their hands on it, they wouldn’t be able to do anything with it until they guessed the pin. However, this scenario is quite improbable.

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Services that Support Ledger Wallets

Now let’s check out what services go along with the Leger wallets in our Ledger Nano X review. It’s indicated previously that you can do a lot more with the Ledger other than merely hodl the cryptocurrency. A few of the activities you are able to perform with your Ledger include holding, managing, purchasing, selling, and exchanging.

The entire potential that cryptocurrency has to offer may be accessed by users via the Ledger Live interface, which gives users access to a broad array of DeFi and NFT applications. For a long, crypto aficionados were unable to enter the wondrous world of DeFi except via the use of web wallets and browser plugin wallets such as MetaMask.

These were the only two methods available. Ledger has, throughout the course of its history, developed the ability to support and integrate a wide variety of the most popular decentralized finance and networked finance trading applications. Users no longer have to put their crypto assets at danger by storing them in online wallets in order to participate in the DeFi pool.

Ledger Nano X Review Conclusion

It’s time to wrap up our Ledger Nano X review. At this point, you should have a solid grasp of both the firm that developed the wallet and the software that runs it. Ledger is a well-known brand that has millions of users all around the globe and an impeccable track record when it comes to security.

While writing this Ledger Nano X review we had so many positive things to say, we hope they’ve been helpful for you to decide whether or not to try out this hardware wallet.

Because the Ledger Live software is intuitive and well-organized, maintaining your wallet has never been easier than it is with this product. Therefore, now that you are equipped with all of that comforting information, let’s have a look at the Nano X itself and how you may begin using it. We hope you’ve enjoyed our Ledger Nano X review.

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FAQs about Ledger Nano X

Does the inclusion of Bluetooth in the Ledger Nano X harm its security?

Because the private keys are never extracted from the secure chip, the Ledger Nano X is not put at risk of any new security vulnerabilities by the use of Bluetooth connectivity. To ensure that users’ personal information is kept private, the connection is continually encrypted. In the very unusual event that the transport is compromised, an attacker will never be able to extract private keys or coerce users into signing a transaction that they do not want to sign. This is because users will never be forced to sign anything against their will.

How much storage space do you get on the Ledger Nano X?

The Ledger Nano X has 1.8 megabytes of storage, which essentially corresponds to being able to handle up to 100 different cryptocurrencies. This is in contrast to the Ledger Nano S, which can only hold up to three different cryptocurrencies. The recently introduced Ledger Nano S Plus provides an option that is less expensive than the Ledger Nano X while offering the same amount of storage capacity.

How many digital currencies can be kept in a Ledger hardware wallet at one time?

Over one hundred distinct cryptocurrencies may be stored in a Ledger hardware wallet, such as the Ledger Nano X. There are several well-known cryptocurrencies among them, such as Bitcoin, Ethereum, and Ripple. On the Ledger Nano X, you can theoretically store an unlimited number of coins and cryptocurrencies if the coin or cryptocurrency is supported.

The only thing that the hardware wallet saves is the private keys that are necessary to access the currencies. It is necessary to have the appropriate software loaded on the smartphone in order to handle the coins. On the other hand, the Ledger Nano X only let the installation of a limited amount of applications at one time.

This is due to the fact that the Ledger Nano X has a restricted amount of RAM. However, switching applications is as simple as uninstalling and reinstalling it, and you will not lose any money as a result.

How does a hardware wallet work?

Wallets made of hardware, such as the Ledger Nano X and others like it, all function according to the same basic idea. They are a specialized kind of a piece of software known as a “wallet,” which is a piece of software used to store and handle cryptocurrency. A hardware wallet is a physical device that creates private keys to cryptocurrencies in a safe and isolated manner. These keys are known as private keys. They offer various benefits over software wallets due to the additional hardware, including the following:

  • Private keys are often kept in a secure location inside a microcontroller, and this location prevents the keys from being exported from the device in plain text.
  • Unlike software wallets, hardware wallets cannot be compromised by computer viruses that steal cryptocurrency. They can be utilized in a way that is both secure and interactive, and the private keys never have to come into touch with software that may be exploited.
  • The software is, in the majority of instances, available in an open source format, which enables both the user and qualified specialists to check the overall functioning of the device.

Nevertheless, it is essential to have an understanding that hardware wallets are an appealing target for attackers and that the level of protection they provide is dependent on a number of assumptions. They are not a magic weapon, and there are a number of possible methods that a hardware wallet might be hacked. In particular if there is someone who can physically access the gadget.

What happens if there are new cryptocurrencies, do I need a new hardware wallet if this occurs?

When a new cryptocurrency first launches, it is unusual for a hardware wallet to provide direct support for it. On the other hand, the majority of service providers, like Ledger and others are always trying to support new cryptocurrencies. Because of this, it is usually in your best interest to hold off on making any transactions until the desired cryptocurrency is supported by your hardware wallet.

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Ledger Nano X Review 2022

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July 2, 2022
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