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The Ledger Nano X is the industry standard for hardware wallets, building ontop of the original hardware wallet, the Nano S. Without compromising security, the Nano S was able to provide support for over 5,000 different cryptocurrencies and up to 100 different installed apps at the same time. The Nano X Ledger:
- Maintains security whilst adding bluetooth connectivity
- Provides support for thousands of different cryptocurrencies, so you are able to store even the most niche cryptocurrencies
- Offers more intuitive user interface
Cost: $169
Platforms supported: Android and iOS
Cryptocurrencies: 5,500+
Wallet type: Hardware wallet
Pros
- Industry leading security, going above and beyond expected levels
- Clean and intuitive user interface
- Support for over 5,000 different cryptocurrencies and space for 100 different simultaneous apps
- Hardware wallet from an innovator in the space, continually improving their products and service
Cons
- Expensive for beginner traders
Ledger Nano X History and Background
The Ledger brand is infamous in the cryptocurrency community, providing some of the highest quality cold-storage hardware wallets on the market. The Nano X was released in 2019 as a direct upgrade to the Nano S offering bluetooth connectivity and support for over 5,000 different cryptocurrencies.
The French hardware wallet manufacturer claims that Ledger securely stores 15% of the worlds cryptocurrencies. Slightly bigger than the Nano S, the Nano X is a titan in the industry, still remaining as one of the go-to hardware wallets three years after release.
The term ‘Ledger’ is synonymously used with ‘hardware wallet’, proving how deeply ingrained the Ledger company is in the minds of crypto investors.
The Ledger Live app is compatible with all their Ledgers and provides a one-stop platform to send, recieve, exchange, lend and buy thousands of different crypto assets. On top of this, you have access to hundreds of different dApps (Decentralized Applications), allowing you access NFTs, staking protocols and much more within the DeFi ecosystem. Ledger is not just a hardware wallet!
What is in the Box?
Upon purchasing a Nano X, you’ll receive a thumbdrive with a brushed stainless steel and plastic coating, weighing in at 34g.
Included with the Nano X will be a USB-C to USB-A cable, allowing instant connectivity between your Ledger and computer.
Moreover, you will receive a stylish keychain strap to attach your ledger to and manuals for setup and recovery.
Supported Cryptocurrencies
With improved storage capacity over the Nano S, it can support over 5,000 different cryptocurrencies and have up to 100 apps installed on it at any given time. This means, you can install Bitcoin and Ethereum apps, and still have space for 98 more.
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Bitcoin Cash (BCH)
- Binance Coin (BEP20) (BNB)
- EOS (EOS)
- Tezos (XTZ)
- Polkadot(DOT)
- Stellar (XLM)
- Litecoin (LTC)
- SHIBA INU (ERC20) (SHIB)
- LINK Chainlink (LINK)
- Compound (COMP)
- Cardano (ADA)
- TRON (TRX)
- Leo Token (LEO)
- Monero (XMR)
- HuobiToken (HT)
- Ethereum Classic (ETC)
- Dash (DASH)
Supported Operating Systems
Ledger leveled up their famous Nano S hardware wallet with the Nano X by adding bluetooth connectivity. The Ledger is compatible with both iOS 13+ and Android 7+ smartphones on top of computers with these operating systems:
- Windows 8.1+
- macOS 10.14+
- Linux
Setting Up the Ledger Nano X Wallet
Before attempting setup, ensure your compatible wallet or computer has internet connection and the Ledger Live application downloaded and ready. The Nano X comes with a USB cable which should be used for the setup process.
Step 1: Using the USB cable, connect your Ledger to your computer.
Step 2: Press the left and right button simultaneously to ‘Set up as a new device’.
Step 3: Choose your Pin code (Between 4 and 8 digits long)
Step 4: Confirm your Pin by reentering it.
Step 5: Once your Pin has been confirmed, you should receive your 24 word recovery phrase. Write this phrase down on the ‘recovery sheet’ that came with the Ledger.
Remember: Your 24 word recovery phrase will only be given you to once! Make sure you are double checking each word!
Step 6: After you have confirmed you recovery phrase, your Nano X is now ready.
The steps to open up an account on Ledger Nano X:
Download the Ledger Live application.
Connect your Ledger to your computer.
Press the left and right button simultaneously to ‘Set up as a new device’ .
Choose your Pin code and confirm it.
You should receive your 24 word recovery phrase.
Confirm your recovery phrase and your Nano X is now ready.
How do I Transfer Bitcoins to My Wallet
Before transferring any Bitcoin to your Nano X, make sure you have the Bitcoin app installed, as that is the only app that will accept Bitcoin! All Ledger wallets use Ledger Live to send and receive cryptocurrency, which is required to be installed on your computer or phone before sending any crypto assets.
Step 1: Connect your Nano X to your computer and open Ledger Live.
Step 2: Head to ‘Manager’ on the dashboard and install the Bitcoin app.
Step 3: After the app is installed, add your accounts by opening up the Bitcoin app on the device. (This can be done by clicking both buttons).
Step 4: Click ‘add account’ once Ledger Live has synced, and return to the application.
Step 5: Click ‘Recieve’ to create a deposit address, where your crypto will be sent to.
Step 6: Verify your wallet address with the address on your Nano X, to ensure they are the same.
Step 7: Finally, use your ‘recieve’ address to send your Bitcoins from an exchange or self-custodial wallet, such as Metamask, to your Nano X.
Congratulations, you now have Bitcoins stored in Cold storage on your Nano X!
How Much Does the Ledger Nano X Wallet Cost?
The Nano X is Ledgers most premium hardware wallet available, costing $149 as of writing. The bluetooth enabled hardware wallet is positioned as a market leader, but matches its price to other competitive wallets such as the Trezor Model T, which clocks in at $169.
Unlike the Nano S, included in the price is a USB-C to USB-A cable, which negates the need to purchase their OTG kit. Your wallet is instantly ready to go upon purchase.
Is The Ledger Nano X Wallet Safe?
All Ledger wallets keep your crypto assets in cold-storage, meaning they are not directly connected to the internet and able to be traded. You, the owner, are the only possessor of your 24 phrase private key, which give you access to your Ledger. Ontop of this, a minimum 4 digit pin is required to access the Ledger.
Moreover, Ledger wallets go beyond the expected security standards, providing:
- EAL5+ certified Secure Element chips for all hardware wallets, keeping your keys secure
- External audit from French security agency (ANSSI)
Customer Support
Ledger has publicly stated they are actively working on evolving their customer support. In 2021, they reduced their full resolution time by 21% and in 2022 are aiming for even higher standards such as:
- 24/7 Support worldwide, by hiring over 200+ Ledger customer support agents.
- Improving their support languages from 5 to 13 languages.
Ledger does not currently offer phone support, which they claim to be due to security reasons. However, they offer a comprehensive help center, email support and a multitiude of social media channels such as Twitter, Instagram and Facebook.
Conclusion
Frequently Asked Questions
Ledger Live is an interface application that uses the Ledger Nano S, Nano X, and Ledger Blue. The application provides several features allowing Ledger users to send or receive crypto, get real-time price updates, and set up multiple accounts.
No, the Ledger Nano X does not have a touchscreen. However, buttons at the sides of the device allow you to navigate and perform any function.
To transfer coins from your Coinbase to Ledger, you must first connect your Ledger wallet to your computer and copy the wallet address for the coin you want to use. Visit your Coinbase account and use the copied address to transfer the number of coins you want to send. Wait for a moment for the transaction to be processed, and you will see the coins in your Ledger wallet.
If you lose your hardware wallet, your coins are not lost. Your coins are stored on the blockchain, not in the wallet. The wallet is only a reflection of how many coins you have. To recover your crypto assets, you need the recovery seed of the lost wallet. When you buy a new hardware wallet, you can input the recovery seed and gain access to all the lost coins.
Yes, the Ledger Nano X works with the Ledger Live application. The mobile application is compatible with operating systems from iOS 9 or Android Lollipop 7 and above.