The Ledger Nano X is the upgraded hardware wallet from the Ledger family. Coming from one of the two most popular cryptocurrency hardware wallet companies, Ledger, the Nano X is undoubtedly a massive upgrade from its predecessor. As a fan of the previous version, I was hyped when this new hardware wallet model was announced. In this article, we will have a look at the major upgrades and see if this is worth the bumped-up price.
Bluetooth Features. The new Bluetooth connectivity on the device helps avoid the need to carry extra accessories.
Large Display Interface. A larger display on the device helps to verify a transaction before it goes out.
Various Crypto Support. The support for 100 different cryptocurrencies simultaneously helps you save a lot of money by safely storing all your crypto assets in a single hardware wallet.
Takes time to get used to. If you are coming from using the Ledger Nano S, you would need to get used to the new way of doing things on this device.
High price for new users. Priced at $119, this device might be too much for beginners in cryptocurrency.
Ledger Nano X might be jarring and expensive for new users, but it provides impressive functionality to people who decide to invest in it.
Despite the cons, the benefits of having a good hardware wallet can never be denied. Thus, Ledger Nano X is a product that is worthy of your investment, especially if you use your crypto wallet daily.
Why Do We Need Hardware Wallets?
Cryptocurrencies are digital financial assets that can be stored on software wallets for free. Software wallets are available free of cost and might only need you to install an app or software to start using. (Some like MyEtherWallet are completely web-based).
So, you might be thinking that hardware wallets are simply a waste of money, right? Wrong!
The problem with software wallets is that they are always connected to the internet. Thus, making them vulnerable to an attack from a hacker. With cryptocurrencies gaining massive popularity lately, it has become crucial to safeguard our digital assets.
Remember, if you end up losing your cryptocurrencies to a hacker, there is no way you can retrieve them. So, it is your responsibility to keep your crypto assets safe.
The main point of weakness for a software wallet is that it is always connected to the internet. This is where hardware wallets have the upper hand. These devices are connected to the internet only when you want to make transfers out of your wallet.
So, to begin with, an attacker will not be able to always access the wallet. Secondly, hardware wallets conceal the private keys within the device itself. At no point will the private keys ever leave your hardware wallets. Whenever an outgoing transaction is made, the wallet signs the transaction within the device itself. Thus, making it very hard for an attacker to gain access to your funds.
These features make hardware wallets a great addition to your crypto inventory.
Like any other wallet, the Ledger Nano X has its fair share of good and bad sides. Let us look at them
My Experience With Ledger Nano X
What Are the Contents of the Ledger Nano X Box?
The Ledger Nano X, like its predecessor, comes in a very well-packaged box. Hologram seals are used to indicate if the device was previously used or not. Inside the box, you have a set of user manuals, seed phrase cards that you will need to fill out later, the Ledger Nano X itself, and a USB Type-C cable.
I like the upgrade from the traditional USB Type-B to USB Type-C port, as it makes the device a lot faster.
Before I get into the details of setting up your brand new Ledger Nano X, let me give you an overview of the features that I was very excited about.
Feature Upgrades of the Ledger Nano X
The Ledger Nano S (The predecessor of the Ledger Nano X) has been a highly loved cryptocurrency hardware wallet. However, it greatly struggled when you wanted to store more cryptocurrencies simultaneously.
At the most, the Ledger Nano S could support only up to 18 different cryptocurrencies. The Ledger Nano X, on the other hand, supports a massive 100 different cryptocurrencies simultaneously.
So, you would no longer need multiple Ledger Nano S wallets to store all your crypto assets.
Another feature that I'm very excited about in the Ledger Nano X is the Bluetooth connectivity that it has to offer. With the Ledger Nano S, I could connect the wallet with my phone using an OTG cable. However, this meant that I had to carry extra accessories for the device to work with my mobile phone.
The Ledger Nano X comes with an in-built Bluetooth connectivity feature that allows you to pair and connect the wallet to your phone and use it on the go.
Getting Started with the Ledger Nano X
The steps involved in setting up a brand-new Ledger Nano X are:
Step 1: Set a PIN
When you turn on the Ledger Nano X for the first time, you will be prompted to set a 4-8 digit pin. The whole process of setting up the PIN is done on the device itself.
The device has two buttons that can be used to toggle between the numbers. By clicking on both the buttons at the same time, you can select the number. Once you have set up your PIN, you can go ahead and backup your wallet.
Step 2: Backing up your wallet
Backing up the Ledger Nano X means that you need to safely keep a backup of the 24-word seed phrase. The box comes with a card to write down the 24-word seed phrase in the right order.
You can then keep this in a secure location that only you can access. Remember, anyone who has access to this seed phrase has access to your entire hardware wallet. So, ensure that no one else gets to your seed phrase.
The 24 words appear on the screen of the device one by one. Once you have written down and safely stored your seed phrase card, you are ready to set the cryptocurrencies you would want to use simultaneously.
Step 3: Pairing with your PC(Personal Computer) or Mobile Phone
The Ledger Nano X can connect to your mobile phone over a Bluetooth connection. Alternatively, you can also connect it to your computer using a USB cable.
After you have successfully connected to your device, open up the Ledger Live app/software, and ensure that the pairing was successful.
Step 4: Installing apps on the Ledger Nano X
The various cryptocurrencies that you would want to use on your Ledger Nano X are available in the form of apps, i.e., you would need to install the Bitcoin app on the device to start using Bitcoin from the Ledger Nano X.
You can install the apps on the device only through the Ledger Live interface. When connected over Bluetooth, this can feel a bit buggy. Every action that you execute over Bluetooth would need to be approved, which feels like an extra step that not everyone would appreciate.
Once you are done installing the apps of the cryptocurrencies you use, you would think you are ready to start making transactions from your device. However, there is one last step that you need to take care of.
Step 5 Adding accounts
After you have successfully installed the app on your wallet, you will need to add accounts for the respective cryptocurrencies. However, this step is not conveyed by the User Interface. Even though it is mentioned in the user guide, it would have been a much better experience if the device's User Interface conveyed this extra step.
While I was initially very excited to start using the Ledger Nano X, I now have a bit of a mixed feeling. The device is indeed an upgrade from its predecessor. However, it would take some getting used to if you are coming from the Ledger Nano S. Compared to the predecessor, it has double the storage and processing power. It has also added support to many crypto wallets.
I feel that if this wallet is your very first hardware wallet, then you would not have any issues with this device.
On initial look, the Ledger Nano X doesn't appear very different from its predecessor. The device is slightly bigger and still flaunts an excellent build quality. So, you don't have to worry about the durability of this device.
Some of the instant differences that I noticed include the placement of the on-device buttons and the larger on-device display. With the Ledger Nano S, the controls were bulging out from the side of the device. The Ledger Nano X has its buttons next to the display. The bulge is not that very evident. So, this makes it look a lot sleeker.
Both Ledger devices support the same cryptocurrencies. So, you can expect support for over 1,500 different cryptocurrencies from both these devices. However, the newer Ledger Nano X allows you to use 100 different cryptocurrencies simultaneously.
With the Ledger Nano S, you could only use up to 18 different cryptocurrencies simultaneously. So, this definitely would avoid the need for you to carry multiple Ledger wallets with you.
Some of the most popular cryptocurrencies supported by the Ledger nano X include:
- Bitcoin Cash
- Cardano and many more
However, the company is expanding supported wallets in the device. This means that there will be more to come as time passes by. Thus, it is clear that more and more people will rely on Ledger Nano X in the future.
The Ledger Nano X is pricier than the Ledger Nano S, costing you around $119. This is double the price of the Ledger Nano S. If you are holding a wide range of cryptocurrencies, then the Ledger Nano X would save you a lot of money while also keeping all your assets safe.
If you think that this cost is too much, you can choose the previous versions of the device. However, this means that you will get fewer benefits compared to Nano X.
With both the Ledger devices, you would not find yourself trying to contact customer care very often. The website hosts very detailed explanations to common queries that users frequently ask.
However, you can always drop your details and the problem that you are facing in the chat section of the website. The customer care representatives would then get back to you with a solution within 24 hours.
You can also request the team to add more cryptocurrencies, and depending on the demand for the particular cryptocurrency, it would get added. Below are some FAQs from the website.
Frequently Asked Questions About Ledger Nano X
No! this feature will never affect the wallets' security in your Ledger Nano X. Bluetooth connection is encrypted for both receiver and sender, which means that it can never negatively affect transactions.
The Ledger Nano X has a battery life of 100 mAh. This means that it can last for up to a few hours in active use and a few months in passive mode. Take note that it can always be recharged through a USB-C port using an adapter or connection through a laptop.
A total of up to 100 installed apps can be supported by Nano X. However, this number will depend on the apps' size. Ledger Nano X can support every single app as long as it is connected to the device using a cable and Desktop computer.
The Ledger Nano X is an excellent value for money. However, if you are coming from the older Ledger wallet, it would take some time to get used to. With Bluetooth connectivity and 100 simultaneous cryptocurrencies support, this device is worth a chance if you intend to store a diverse range of cryptocurrencies. The security features are also top-notch, and one can even say that it has the safest features when it comes to wallets. If you are looking for a hardware wallet, then this is the best choice for you.
Ledger Nano X Reviews
Ledger Nano X Review – January 25, 2021
The product was quick to transfer different wallets such as ETH, Bitcoin, and Bitcoin Cash. The set-up took some time, but it was partly due to my knowledge of the device. It has INSANE security features, and the app is very accommodating to users. Props to the team!
Review from John
Ledger Nano X Review – December 9, 2020
For anyone who uses cryptocurrency and crypto wallet in everyday transactions, I recommend you buy this product. When I got my Nano X, I can't stop using it since everything is so smooth and fast.
Review from Ann
Ledger Nano X Review – November 18, 2019
I think the people who don't appreciate Ledger Nano X are those who do not know how to use it. It serves as a physical security device to help confirm crypto transactions. This makes up for more safe and secure cryptocurrency processing throughout your wallets. For me, this is the best mode to protect your assets.
Review from Wyatt
Ledger Nano X Review – December 3, 2019
I have used the S version for some time now, so when I got the news that the X version came out, I quickly hurried to the online store. It is a good upgrade from the previous version due to added support, ports, and software updates. It is also compatible with many operating systems like Android, iOS, and Windows.
Review from Mae
Ledger Nano X Review – October 27, 2020
As a first time Ledger user, I am satisfied with what I got. However, I noticed that one button is jammed in my product, which poses some difficulty during usage. I found it irritating as time passed by, and I hope it will get unjammed.
Review from Frank
Ledger Nano X Review – January 5, 2020
Ledger Nano X does what it says it does. It is a suitable crypto storage device and holds more accounts than the previous version. However, I find the price kinda expansive, and there are some hardware problems. Maybe it was because of the shipping service.
Review from Kai
Ledger Nano X Review – June 18, 2020
I should have checked compatible wallets beforehand. I thought it would store Vechain and Cardano, but it did not. I hope more functionalities for such wallets will be available soon since the product has the potential to dominate the market.
Review from Jeff