The Ledger Nano X is a high-end cryptocurrency hardware wallet that offers an impressive amount of features as well as top-tier security. The device is a hardware wallet, meaning it is a physical piece of technology that you can connect to your device through USB or Bluetooth. Ledger was founded in 2014 by eight experts with backgrounds in embedded security, cryptocurrencies, and entrepreneurship. Their goal was to create secure solutions for blockchain applications. Ledger now has over 130 employees. They developed their own operating system for their wallets and are the only cryptocurrency wallet provider in the market to do this. The Ledger Nano X, along with the rest of Ledger’s products, such as the Ledger Nano S, have been extremely well received in the cryptocurrency community. The security of the hardware wallet, and its ability to support over 1300 crypto tokens and assets make the Ledger Nano X, and the rest of the Ledger product line, extremely popular, having already sold 1.5 million Ledger wallets.
By: Evan Jones | Dec 12, 2019 | Modified May 25, 2020
|Platforms supported:||Windows, MacOS, Linux, Android, iOS|
|Cryptocurrencies supported:||Bitcoin, Litecoin, Bitcoin Cash (1,337+ others)|
|Pin code protected:||Yes|
The best features of the Ledger Nano X cryptocurrency hardware wallet are its security, its asset and token support, and its technical support. The Ledger Nano X currently supports over 1300 crypto assets and tokens, meaning that almost any cryptocurrency you can think of can be stored on the wallet. Ledger provides detailed technical support, as both physical instructions included with the wallet, and online instruction and troubleshooting.
The main feature of the Ledger Nano X, and any other hardware wallet, is the extra security it provides. Ledger has created its own operating system that the hardware wallet runs on and is the only company to provide this. A PIN code is required to access the hardware wallet, and all transactions and changes made to the wallet’s settings must be confirmed by pressing the two physical buttons on the wallet.
In addition to the PIN code, the Ledger Nano X allows for a passphrase to be created. Using this feature creates a separate account on the wallet, meaning even if your PIN is compromised, whatever accounts you have stored with the extra passphrase cannot be accessed. Finally, the Ledger Nano X uses a 24-word recovery phrase, rather than the standard 12-word phrase frequently seen for software wallets. This makes it even harder for your device, and therefore your assets, to be compromised.
The Ledger Nano X supports over 1300 crypto assets and tokens including all the major ones such as Bitcoin, Ethereum, EOS and Litecoin. Keep in mind that it also natively supports 100 different cryptocurrency applications, which makes cryptocurrency much easier to manage.
Here are some of the big-name cryptocurrencies that the Ledger Nano X supports:
For a full list of supported crypto assets and tokens please visit the official Ledger website.
Ledger has created its own operating system that the hardware wallet runs on called BOLOS and is the only company to provide this. Your private keys are stored and isolated inside the device on the most secure chip on the market. A PIN code is required to access the hardware wallet, and all transactions and changes made to the wallet’s settings must be confirmed by pressing the two physical buttons on the wallet. In addition to the PIN, the Ledger Nano X allows for a passphrase to be created. Using this feature creates a separate account on the wallet, where you can store whichever assets you want, meaning even if your PIN is compromised, whatever accounts and assets you have stored with the extra passphrase cannot be accessed.
Finally, the Ledger Nano X uses a 24-word recovery phrase, rather than the standard 12-word phrase frequently seen for software wallets. This makes it even harder for your device, and therefore your assets, to be compromised.
The Ledger Nano X cryptocurrency hardware wallet supports 64-bit desktop computer operating systems Windows 8 and up, macOS 10.8 and up, and Linux. It is also compatible with phones with either Android 7 and up, or iOS 9 and up.
The main downside with using the Ledger Nano X cryptocurrency hardware wallet is that it costs money to buy. Unlike software wallets, where you only have to pay transaction fees required to trade assets and tokens, the Ledger Nano X costs more than $150 before tax. For someone new to cryptocurrency, or simply comfortable with the security of another wallet, they may prefer to spend that money on acquiring extra tokens and assets, and simply use a free software wallet. Apart from the cost, there is little downside to the Ledger Nano X, as it is extremely secure. The only other potential downside being the same as with all software and hardware wallets: losing your recovery phrase with no contingencies results in losing your assets.
The Ledger Nano X is so expensive because you are buying a physical piece of technology, rather than a downloadable application. Ledger’s software wallet is free to download like Exodus or Jaxx Liberty Wallet. You are paying for the extra security provided by the technology, including Ledger’s own operating system, contained within the Ledger Nano X. If the Ledger Nano X is out of your price range, Ledger also offers the Ledger Nano S, which has less storage capacity but is almost half the cost. For users not planning on storing many types of assets and tokens, and not interested in Bluetooth, the Ledger Nano S may be a better option.
No, the Ledger Nano X does not have a touch screen. It has a built-in display which can be navigated with the two buttons on the top of the wallet.
No, the Ledger Nano X is not safer than the Nano S. Both hardware wallets use the same security chip, require a PIN code for access, and have a 24-word recovery phrase as backup. The main advantage the Ledger Nano X has over the Nano S is its ability to use Bluetooth and its increased storage capacity for applications.
No, Bluetooth does not make the Ledger Nano X hackable. This is because regardless of whether a transaction is sent via Bluetooth or through a software wallet app on your desktop, it still only exposes the public key required to fulfill the transaction. Your private keys are never exposed whether a transaction is done wirelessly or wired. In addition, all the communications are encrypted, and even if someone were to decrypt the wireless data, they would only have access to your transaction data that contains public keys, which is useless to a hacker.
Some people buy both the Ledger Nano X and the Nano S because they already had a Nano S but would like the upgraded features of the Nano X, such as Bluetooth or added storage space. Additionally, someone may want to use separate wallets for separate crypto assets and tokens but may not need or want to buy two Nano X’s or S’s due to cost differences.
No, the Ledger Nano X is not shockproof or waterproof. Dropping the wallet could cause damage to its internal technology. Should the Ledger Nano X break, you can still recover and access your assets using your 24-word recovery phrase and a new Ledger Nano X. If it is dropped in water the same contingencies apply.