Ledger’s second hardware wallet, the Ledger Nano X, was introduced in September. This post will be a personal account of my experience with the device, and my opinions about whether or not it is the best wallet.
The Ledger Nano X is a step ahead of all other hardware wallets currently on the market. It is a powerful tool for managing crypto assets because of its increased coin capacity and bluetooth connectivity. However, there are still some issues with the user experience.
Perks of Hardware Wallets
Hardware wallets are simple and elegant. These simple devices hold your private keys, but they don’t connect to the internet. This means that nobody can access them remotely. Hackers cannot access them and all information required to access crypto is kept offline in “cold” storage.
Hardware wallets store your private keys, which prove you own your crypto. They also sign transactions for your account before adding them to your network. It is easy and safe to store and use crypto.
Hardware wallets can look similar to flash drives and are connected to your PC in the same manner. The problem is that even though they may be connected to a computer infected by malware or under the control and hacker control, they can’t still be accessed without the recovery phrase or seed phrase. This phrase is only available to you. This will ensure that hackers don’t have access to your files.
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Hardware wallets are by far the most secure way to store your crypto. If you don’t have one yet, it might be time.
The Ledger Nano X was one of the top five hardware wallets we reviewed on Coin Bureau a while back. Its design, cost and features made it a top choice for anyone looking to buy a hardware wallet. Ledger products are the best in the market.
We decided to take a deeper look at this tiny beauty. In this Ledger nano X review, we’ll go over all the features of the Ledger X, including how it works and what it costs. We also will show you how to get one. We’ll also take a look at the company that makes it possible to use the wallet and the software.
A Brief History of the Ledger
Ledger was founded in France in 2014. It has been a major player in the crypto market. The idea of creating secure solutions for blockchain applications inspired Ledger’s founders, who hail from a variety of backgrounds including engineering and cryptography. The company now employs over 300 people. It has offices in Paris and Vierzon in central France.
Three Ledger devices are currently on the market. The Nano X, which is Ledger’s flagship product, the Nano S and its smaller sibling the Nano S. There has also been a recently updated Nano S Plus. Although the Nano X is significantly more expensive than the Nano S, they have fewer features. If you’re looking for a great option to purchase your first hardware wallet, the Nano S is a good choice.
Trezor, a Czech company that produces the Trezor One or Trezor Model T hardware wallets, is Ledger’s main rival.
Setting Up Ledger Nano X
Step 1: Create a PIN code
The device will prompt you to enter a 4–8 digit pin code when you turn it on for the first time. You can toggle between numbers by using the buttons. “Enter” can be achieved by simultaneously pressing both buttons.
Step 2: Write down the seed phrase
The seed phrase acts as your password. This is something you should keep secret and safe at all costs. You will be given 24 words to write down when you initialize the device. Keep it safe and secure. Your seed phrase can be used to recover funds if the device is lost, stolen or broken.
The seed phrase is vitally important and you will need to confirm it after you have written it down. Ledger is not like the TREZOR setup.
Step 3: Ledger Nano X – mobile pairing
The fun part is connecting the Nano X to your mobile device. The previous Ledger versions could only be controlled using the desktop software “Ledger live”. You can also control the Nano X via the LedgerLive mobile app. It should be easy and straightforward to pair the device, but that wasn’t what I found. It was a little buggy for me and took me two attempts to get it working. It becomes more complicated when you control the device via the app. Nearly every action you perform on the app requires that you wait for bluetooth to connect and then approve the action. The device will not show the approved option. You can wait for the action to auto approve by waiting a few seconds.
Step 4: Install apps
After the device has been paired, you can install various apps depending on how many coins you wish to use.
Step 5: Add accounts
This was the most difficult step for me. After I had installed the Bitcoin app, I felt confident that I was ready to go. You will need to add a Bitcoin account to the device. This is not done through the user interface. Although you can find the complete Ledger onboarding process, I was expecting it to be simpler for me as a seasoned Bitcoiner. After five minutes of searching, I finally found the missing step. From there, it was fairly easy to learn how to control the device.
Ledger Nano X Online Purchase
Hardware wallets are not always available in local shops. This is why it is so common to order via the internet. Ledger sells their hardware wallets through its online shop. There are accessories as well as hardware wallets available for purchase. The Ledger NanoX currently retails for 119,00 EUR (click to see the current price). Ledger Shop offers many benefits, including free shipping, a 14-day return policy, multilingual support, and secure payment options. You will also receive a genuine device. You can also order the device from one of the official resellers. Resellers are available all around the globe.
Features
The Ledger NanoX is small, measuring 8x13x3cm. It contains the hardware wallet, keychain strap, and a USB C cable to charge or connect to the computer. You will also find a multilingual quick start guide, three recovery sheets to backup the hardware wallet, and stickers.
Ledger Nano X unboxed
The Ledger Nano S hardware wallet can be opened by turning the cover made of brushed stainless steel. The technology is hidden in a plastic cover underneath. You can remove the stainless steel cover by simply bending if you wish.
It is obvious that the Ledger nano X is slightly heavier and larger than the Ledger nano S. This is due in part to the 100mAh internal battery that is also installed for mobile use via Bluetooth. The OLED display is also slightly larger. The buttons have been moved to the front from the top: A black button is on the left and a silver one on the right. The eyelet is located on the right for the keychain strap, while the USB-C port can be found on the left.
Ledger Nano X Supported Cryptocurrency
Ledger NanoX supports more than 1000 coins and tokens. You can send and receive the main coins via the Ledger Live interface. Here is a list with the most supported coins.
Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), Stellar (XLM), Ripple (XRP), Stellar (XLM), Stellar (ETC), Stellar (XLM), Stellar (XRP), Stellar (XLM), Ripple (XRP), Stellar (XLM), Stellar (XLM), Stellar (XLM), Stellar (XRP), Stellar (XLM), Ripple (XRP), Zcash (ZEX), Dash (DASH (Zcash (ZEX), Dash (DASH (DASH)
ERC-20 tokens are less popular and more common (i.e. To send and receive coins in ICOs, you will need to use alternative software to connect to the Ledger (e.g MyEtherWallet or MyCryptoWallet).
Supported Services
As I said, the Ledger is more than just a hodl. Your Ledger can be used to do many things, including managing, holding, buying, selling, and exchanging.
Users can access the Ledger Live interface to gain access to a variety of DeFi and NFT applications, unlocking all the potential that crypto has. Crypto enthusiasts had to access the amazing world of DeFi through browser extensions wallets or online wallets for a long time.
Ledger has been able to integrate many popular NFT and DeFi apps over the years. To participate in the cool-kids DeFi pool, users no longer need to put their crypto assets in online wallets.
Ledger Nano X NFT Support
This is a Ledger update, and it’s an amazing one! Ledger has made it easier by offering the same security hodlers love for crypto and applying it our beloved NFTs. Ledger allows users to securely store, visualize, manage, and enjoy full ownership of their NFTs.
Prices
Nano X is $149 (VAT exempt), which is twice as much as the Nano S ($59 TVA excluded). The Nano X costs $149 and includes Bluetooth support as well as extended coin capacity (the Nano X can store up to 100 assets simultaneously). This is a significant price jump, but I believe it’s worth it. Nano S’s limited coin capacity can sometimes be frustrating. However, you can access your hardware wallet via your smartphone.
Conclusion
It’s clear that Ledger put a lot of effort into their new hardware wallet model. Combining the sleek device and the “LedgerLive” software makes it a powerful tool for managing crypto assets. The Nano X is not perfect. We think the UX to set up the device needs a little more thought. The bluetooth connectivity experience is not very smooth. This device, despite its shortcomings, is still highly recommended. It is not perfect but it wins the battle against all competition.
