Ledger Nano X
Trezor Model T
Finally after a long waiting period, I'm back with another hardware wallet review, Ledger Nano X - Next generation hardware wallet. In this Ledger Nano X review, I will highlight highs and lows of this device and also after using it for more than 3 years I'll share my personal experience with the device.
Ledger Nano X is a new cryptocurrency hardware wallet introduced by Ledger. This device comes with some advanced features such as Bluetooth connectivity, increased storage capacity, that make it a next generation hardware wallet. But, you pay almost double the price of its previous universally acclaimed wallet, Ledger Nano S.
After reading this Ledger Nano X review post, you'll be able to decide whether Nano X is worth the money or you should but their latest model Ledger Nano S Plus which comes with almost same features except wireless connectivity.
So let's dive in!
What is next in this Ledger Nano Review:
- Company behind it
- What is hardware wallet and why should you own it?
- What's in the box?
- Design and appearance
- Security
- Supported coins and storage capacity
- Price tag
- Difference between Ledger Nano X and Nano S Plus
- Which one should you buy: Nano X or S Plus?
- FAQ section
- Final Words
Ledger Nano X Review
Highs
- Bluetooth connectivity
- Increased storage capacity, up to 100 coins
- Intuitive design
- Dual secure element chips - One Common Criteria for Information Technology Security Evaluation with 5+ Evaluation Assurance Level (CC EAL5+) certified chip
- CryptoWonk Rating for Ledger Nano X: 8.5 out of 10.
Lows
- Wireless connectivity is limited to only smartphones.
- $175 price tag
- Bluetooth connectivity is assumed vulnerable by some investors; but not true in my opinion.
Overview
Ledger Nano X is a successor to the model Nano S with a wide range of features. Its much awaited wireless connectivity feature grabbed everyone's attention and created a buzz around it.
This device is almost similar to its predecessor Nano S in terms of security but company has put a lot of efforts on its design and functionality. Earlier model has physical input buttons on top of it but in Ledger Nano X these are integrated very nicely.
Nano S storage capacity was a very big issue but company has come up with this new device who can store up to 100 coins simultaneously.
Set up process is smooth and easy. The device is compatible with Windows, Linux, iOS, Android devices.
Above was a short and quick Ledger Nano X review. Let's review this hardware wallet in detail, starting with Ledger Nano X unboxing.
Company Behind Ledger Nano X
Ledger is a renowned hardware wallet manufacturing company whose wallets exist in 165 countries. As of this writing, the company has sold 1.5 million cryptocurrency hardware wallets worldwide.
Ledger was launched in 2014 by a bunch of industry experts to develop security and infrastructure solutions for cryptocurrencies and blockchain. Now it's a team of over 200 professionals who work tirelessly to add more coin support and features to it.
Company has grown so rapidly and with no time it's become one of the top two hardware wallet companies.
What's inside the Ledger Nano X box?
When you open the package, you see nicely packed Ledger Nano X wallet. I must say presentation and quality of the box is very good. Following items are included in the box:
- Ledger Nano X
- 1 Key chain strap
- 1 USB type C cable
- Getting started guide
- 3 recovery sheets
Design and physical appearance
Ledger Nano X design is very elegant and the buttons are integrated very nicely, for this designer really deserves a thumps-up. Physical buttons make this device very secure because by any chance if anybody gets access remote to your PC then without pressing these buttons attacker will not be able to transfer your coins.
For all transactions, user has to confirm the transactions by pressing the physical buttons; which reduces chances of unauthorized transaction significantly.
Company has used premium quality stainless steel and plastic for Nano X.
Display size is very large as compared to Nano X and there is a significant overall size difference between the both devices.
Ledger Nano X comes with 100mAh non-removable rechargeable battery that is more than enough when we see size of the device and usability. Battery can last 8 hours in standby mode.
You will notice significant weight difference if you already own Nano S. Nano X weighs 34.2 grams, while the Nano S weighs 16.2 grams.
Nano X Security
Now comes the most important part of our Ledger Nano X review! This is the first and foremost reason we think of hardware wallet. Therefore, we can ignore appearance, design and the like but security is paramount.
So let's discuss how secure is Ledger Nano X?
Device is integrated with two secure chips. Manufacturer has added new secure chips: ST33J2M0 (secure) + STM32WB55. Its secure element chip is certified by Common Criteria for Information Technology Security Evaluation with 5+ Evaluation Assurance Level.
Its secure element chip, ST33J2M0 (secure), is being used in banking sector and passports. Here in Ledger Nano X device, it secures your private keys.
For your knowledge, Common Criteria for Information Technology Security Evaluation is an international standard for computer certification. In this, devices are checked up to certain levels of security against hacks, durability, functionality and the like.
Nano X is tested up to Evaluation Assurance Level 5+, which means you can rest assured that your device is a secure, not because company says it because it's rigorously tested. (Click for more information on CC EAL5+)
Apart from that, Ledger wallets run on company's own operating system, Blockchain Open Ledger Operating System (BOLOS), that makes this device more secure. BOLOS operating system is an open source project and anyone can contribute to enhance its security.
Skeptical about its Bluetooth wireless connectivity? Then, for your information, yes, Bluetooth connection leaves devices open to attacks. Anyone with appropriate knowledge can exploit your connection but this does not mean your hardware wallet can also be hacked.
Ledger has rigorously tested its Bluetooth connectivity and found that it'd be very difficult for someone to hack its devices.
However, if somehow it happens then attacker would not be able to withdraw your coins or read your private key.
How?
Because its secure element chip is designed to protect your seed and also, as discussed above, without pressing physical buttons, no data exchange process can be executed.
Ledger's wireless connectivity is secure but it requires user's participation also. For instance, user should not authorize a device or transaction without verifying the details shown on his/her hardware wallet display.
If you still have some doubts regrading Bluetooth connectivity then here is a robust solution for you, for initial setup, use USB connection which is undoubtedly secure.
After generating your private keys, you can use wireless connection to send and receive coins.
Ledger Nano X storage capacity and supported coins
Ledger Nano X supported coins list is very large. It supports over 5500 plus digital assets including prominent coins such as Bitcoin, Bitcoin Cash, Ripple, Ethereum, Litecoin, Dogecoin, and all ERC20 tokens. Ledger Nano X can store up to 100 coins simultaneously. Bear in mind, this limit may vary depending on the wallets you install for example standalone apps such as Bitcoin, occupy more space.
Latest model Ledger Nano S Plus too can store up to 100 coins; just it lacks wireless connectivity.
Prominent coins can be sent and received directly from official Ledger Live app. Following is a list of Ledger Nano X supported coins:
- Monero (XMR)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Peercoin (PPC)
- Zcash (ZEC)
- Ripple (XRP)
- Dash
- EOS
- Stellar (XLM)
- Tether (USDT)
- Tron (TRX)
Both Nano X and S Plus support same coins, click to get complete list of Ledger Nano X supported coins here.
Nano X price tag
As of this writing, Ledger Nano X price is $139 or ₹9768 or €125. Price may seem a bit high but this is the price that you pay to own a next generation hardware wallet. Its advanced features, big size and intuitive design somewhat justify its price tag.
Company is providing free shipping which is also an appreciable approach.
International customers may need to pay custom charges, if applicable.
Difference between Ledger Nano X and Nano S Plus
In terms of security both devices are same, the only noticeable difference is wireless connectivity.
Read, "Ledger Nano X vs Ledger Nano S Plus – Which One to Buy?"
Ledger Nano X
- Price $175
- Next generation hardware wallet
- Wight 34g
- 100mAh battery
- More storage space - up to 100 coins
- Bluetooth or wired connection
- Large screen and overall size
- Price is high - best for professional traders
Ledger Nano S Plus
- Price $105
- Popular wallet
- Weight 21g
- No battery
- Less storage space - up to 100 coins
- Wired connection
- Small screen
- Competitive price - best for novice traders
Which one should you buy: Ledger Nono X or S Plus?
You will need to examine your hardware wallet needs. However, for your help, I would suggest you go for Ledger Nano S Plus if you're looking for a cost effective way to cold store your cryptocurrencies. It lacks some advanced features but it's as secure as its successor.
- To know more, read Ledger Nano S review post.
If you like premium things then Ledger Nano X is for you. Nano X is a perfect solution for professional traders and investors because they can use it on the go. You don't need to carry USB cable while you're traveling. Just put this device into your pocket and whenever needed connect it to your smartphone through Bluetooth and initiate your trades.
Ledger Nano X Review FAQs
What is hardware wallet and why should you own it?
Hardware wallet is a small physical device that stores private keys for your cryptocurrencies in an isolated place.
These devices let you send and receive coins without exposing your private keys to the internet. They come with secure chips, also used in passports and ATMs, that keep your coins safe from the outside world. Your private keys remain offline all the time and this way your wallets become nearly unhackable.
Yes, these can be hacked but without physical access no one can withdraw your coins.
If you're concerned about your coins' safety then without any second thought own a hardware wallet for your peace of mind, I'm talking from experience.
Before buying my first hardware wallet, Nano S, I read tons of articles and watched plenty of videos. Now after using it for years, I can say it's worth every penny.
As of now, famous ways to store coins are exchanges (web wallet), paper wallet, software wallet, and cryptocurrency hardware wallet.
When it comes to coins' safety, exchange is a least recommended way. One can use software wallet too but it also keeps your coins online, which means it can get hacked anytime.
Paper wallet is also a very secure way to store cryptocurrencies. But make sure computer you're using to generate Bitcoin paper wallet is free from malwares and your internet connection is secure.
Don't forget, to spend your paper wallet coins you will need to pay private key sweep charges along with transaction fees. These unnecessary charges make paper wallet less likable.
Finally, if you want to keep your coins safe and at the same time you seek flexibility to spend them then Bitcoin hardware wallet is the answer.
We've discussed about this topic in detail in our top 5 cryptocurrency hardware wallets post. Now, we're up for Ledger Nano X review.
What is Ledger Nano X?
It's a small electronic device that has the capability to securely store digital currencies such as Bitcoin, Litecoin, Ripple, Ethereum and like in an isolated space. Device which serves such purposes is called a cryptocurrency hardware wallet.
Who should buy a hardware wallet?
Anyone who owns digital assets can buy a hardware wallet to safely store them. Also, these devices can be used as U2F keys for two-factor authentication.
What is Ledger Live?
Ledger Live is an official application for Ledger hardware wallets to access stored coins and send or receive the same. The app is available for desktop and smartphones.
Can I use Nano X on multiple computers?
Yes, you can use it on as many as devices you want. Just install its official Ledger Live app and configure it.
What if I lost my Nano X?
Really a nice question! If it happens then you can own a new hardware wallet to restore your wallets. At the time of setting up this device, you get a 24 words recovery seed that can be used to restore wallet accounts; if device gets lost.
If one can't afford a new device then he/she can use a free compatible software wallet to recover coins. Following are some Ledger compatible software wallets:
Final Words
If you've invested a significant portion of your investment in cryptocurrencies then a hardware wallet is must for you. As discussed above, exchanges are not safe for holding cryptocurrencies for long.
Everyday a new exchange gets hacked and at the top exchanges don't provide you your private keys. In cryptocurrency world it's often said, if you don't own your private keys, you don't actually own the coins.
A hardware wallet lets you cold store your coins and at the same time lets you spend those coins without exposing your private keys to the internet. As of writing this Ledger Nano X review, I didn't hear a single theft case pertaining to hardware wallet.
This is really a robust and convincing fact to own a cryptocurrency hardware wallet.
If you ask me then of course, it's a big 'YES'. Own it ASAP. Since I got one I hardly think of my coins security, just I keep my Ledger hardware wallet up-to-date.
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