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Ledger Nano X Review: Everything You Need to Know

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The rapid growth of cryptocurrencies, especially Bitcoin, and the increasing number of data security breaches, have created a need for more secure wallets. 

While many people find online wallets to be convenient and easy to manage, storing your cryptocurrencies online isn’t the safest idea. Hardware wallets provide the safest way to store your valuable digital assets. 

A fine example of reliable hardware wallets is Ledger Nano X. It’s one of the latest hardware wallets available today. Ledger Nano X goes a step ahead of other popular wallets by having an increased capacity of coins and Bluetooth connectivity. 

In this Ledger Nano X review, we look at several features of the hardware wallet that make it one of the best on the market today.

What is a Hardware Wallet?

A hardware wallet is basically a small portable device that stores your cryptocurrencies’ private keys. 

As one of the safest ways to store your crypto, a hardware wallet never exposes your private key anywhere else outside the device. This means that your private key is always stored offline or in cold storage as it’s known in the crypto world. 

When you send money from the hardware wallet, the device will sign the transaction on itself, not on the computer it’s connected to. It’s, therefore, possible to connect your hardware wallet to any computer without fear of exposing your private key, whether the computer is compromised or not. 

For this reason, hardware wallets have become a popular option for storing cryptocurrencies, unlike online wallets that come with a higher risk of exposure.

About Ledger

Ledger is one of the most innovative and well-known hardware wallet companies in the world today. It closely rivals Satoshi Labs, the developers of the hugely popular TREZOR hardware wallet. 

Ledger was founded back in 2014 and has over the years emerged as a leader in infrastructure and security solutions for cryptocurrencies and other blockchain applications. 

The company has a huge team of more than 130 professionals specializing in developing products and services designed to protect cryptocurrency assets. The company’s latest product is Ledger Nano X.

Ledger Nano X 

The major difference between Nano X and previous Ledger hardware wallet models is its Bluetooth connectivity, which makes it possible to control the device by a mobile phone beside your desktop computer. 

If you’re a fan of the previous Ledger Nano S model, you’ll love the Nano X mobile support feature. 

Let’s look at some of the key features that make the Ledger Nano X the best hardware wallet available today.

What’s Included in the Purchase

 Ledger Nano X is delivered in a beautiful package that contains the following items:

  • The nano x device
  • 1 USB-C cable
  • Instruction manual
  • Recovery seed cards

Buy from the official Ledger store here

Design 

The first thing you notice in the Nano X is its sleek design compared to the previous model. 

For instance, the bulgy buttons previously located on top of the Nano S have now been integrated seamlessly on the Nano X making them less noticeable in order to enhance the overall beautiful design of the hardware wallet.

Supported Coins

One of the best things about the Ledger Nano X is the huge number of coins that the device supports. The Nano X actually supports more than 1,500 cryptocurrencies and tokens. 

You can easily access, receive, and send the most popular coins such as Bitcoin and Ethereum straight from the software’s interface. Some of the popular coins Nano X supports include BTC, BCH, BTG, ETH, ETC, XLM, XRP, LTC, DOGE, ZEX, DASH, and many more. 

Keep in mind that to receive and send some of the less popular coins such as ERC-20 coins that are used in ICOs, you’ll need to connect alternative software such as MyCryptoWallet and MyEtherWallet to Ledger. 

How to Set Up the Nano X

Setting up the Nano X is quite easy, especially if you’ve used other previous Ledger hardware wallets. 

You only need to follow these simple steps:

  • Set Up Your PIN Code

When you turn on the device for the first time, it will ask you to create a PIN code, which is basically a 428-digit security code. 

To do this, just use the buttons on the device to toggle between numbers and enter your preferred numbers by pressing both buttons at the same time.

  • Create Your Seed Phrase

The seed phrase is basically your password for the wallet. You should, therefore, keep your seed phrase safe and preferably hidden in an offline place such as your most private notebook. 

When you first use the Nano X, you’ll be given 24 words to write down and save on a piece of paper or notebook. 

The seed phrase is critically important when you want to recover your funds after losing, damaging, or misplacing your device. 

Some hardware wallets such as TREZOR skip this step but with Ledger, it’s mandatory to set up your seed phrase to help you recover your digital assets in case your device gets broken, lost, or broken. 

  • Pair the Nano X with Your Mobile Device

Unlike the previous Ledger hardware wallets that could only be controlled via desktop software called Ledger Live, the Nano X can be run on both the desktop software and your mobile device using the Ledger Live mobile application. 

To use this mobile app, you’ll first need to pair the wallet with your mobile device, which is actually an easy and straightforward process. Just follow the steps to pair the two devices via Bluetooth connection. 

After you have paired the device, you can then go ahead to install different apps and ad accounts depending on the cryptocurrencies you want to store in your Nano X. 

Ledger Nano Mobile App

Generate revenues with your Ledger Nano by lending crypto

You could participate in lending economies either as a lender or a borrower. The arrangement can work for people who have for example spare crypto and are not using it at any time.

As a lender, this could allow you to generate some interest income on your crypto – it could be an opportunity for earning passive income with assets you’re hodling.

As a borrower, it is possible to take out a leverage position on your crypto holdings or gain some short-term liquidity.

Ledger Nano X Pros and Cons

Pros:

  • Support for over 1500 coins
  • Can be controlled via your mobile device
  • The best security for your valuable cryptocurrencies
  • A compact sleek design

Cons:

  • Comparatively pricier than other hardware wallets but the security of your digital wallets is worth every cent spent on the hardware wallet

Final Thoughts

Ledger has put a lot of effort into making the Nano X more secure and easy to use, especially with the Bluetooth connectivity and Ledger Live mobile app. They’ve also given it a sleeker design than the previous versions. 

However, setting up the device may be a bit overwhelming for the first time but with a few trials, you should understand everything without a problem. Overall, the Ledger Nano X is definitely one of the best Hardware wallets you can get today. 

Buy from the official Ledger store here

 

Have you already used it? Please share with us you

9.3 Awesome

Ledger has put a lot of effort into making the Nano X more secure and easy to use, especially with the Bluetooth connectivity and Ledger Live mobile app. They’ve also given it a sleeker design than the previous versions. 

  • Setup 9
  • Handling 9
  • Features 9
  • Security 10
  • User Ratings (1 Votes) 8.2
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