For those wanting more control and security of their crypto assets, Ledger can be a great solution. When you own crypto, keeping your private key secure is absolutely crucial. Losing a private key, or someone else getting hold of it will give them access to your crypto holdings. It would be the same as someone having your bank details, passwords, PIN numbers, and other security details.
With Ledger, your private key is stored offline, safe from cybercriminals and data breaches, with you in complete control, for greater peace of mind.
So, let’s dive into this Ledger Nano X Review, to help you work out whether the Nano X is the right wallet for you.
Ledger Nano X Review: How to Setup a Ledger Nano X
Ledger Nano X Pros & Cons
Who is Ledger?
Ledger was launched in 2014 and is a leader in cryptocurrency security, securing crypto assets such as Bitcoin, Ethereum and Litecoin.
In 2014, the company behind the Ledger Nano X and other hardware and software solutions was a team of eight with similar backgrounds and interests. Since then, Ledger SAS, a Paris-based company, has grown rapidly, now employing over 300 around the world, with employees in Paris, Vierzon, New York, Zurich and Singapore.
Ledger developed a proprietary operating system (OS) called BOLOS; an OS that’s integral to the hardware wallets they’ve developed, and Hardware Security Module (HSM) for various enterprise solutions. Ledger is a market leader because they’ve developed this unique technology for keeping crypto assets secure.
Since launching, Ledger has sold over 3 million hardware crypto wallets, have customers in 200 countries, and over 100 resellers stock Ledger products.
What is a Ledger Hardware Wallet?
A hardware wallet is a secure way to store crypto private keys. Your crypto assets aren’t stored on this wallet, as these are stored on the decentralised blockchain. However, to access these crypto assets, you need a secure private key.
When this is stored offline, in a secure hardware wallet, such as the Ledger Nano X, no one else can access this private key. Making it safe from cybercriminals and potential data breaches. This is sometimes known as “cold storage”, and is the most secure way to prevent private keys from falling into the wrong hands.
What is the Ledger Nano X?
One of Ledger’s most popular hardware wallets is the Ledger Nano X. It allows customers to install over 100 crypto apps, and it currently supports over 5,500 crypto assets, coins, and tokens, including Bitcoin, Ethereum, XRP, and Litecoin.
With the Nano X, you can secure, buy, sell, exchange crypto anywhere you go. With added Bluetooth connectivity, the Nano X can be connected to the Ledger Live and Ledger Nano X mobile apps, giving you the ability to safely manage your crypto from your smartphone. Plus you can still connect it using the cable provided so that you can manage your crypto from your computer.
Ledger Nano X: Specification
- A hardware wallet where you can buy, sell, and exchange crypto on the go (buying, exchanging and lending are all supported through third-party services);
- Install up to 100 apps, able to support up to 5,500 different cryptocurrencies, tokens, and NFTs
- Connect to your phone using Bluetooth, or use a USB to connect to a laptop
- Weighs 34g, stainless steel, comes with three recovery sheets, and the size is: 72mm x 18.6mm x 11.75mm
- Compatible with iOS (13+), Android (7+), Mac (macOS 10.14+), Windows (8.1+), and Linux devices, either through Bluetooth or USB connections
- Use the Ledger Live app to get the most from it, and manage your crypto
- It also comes with a large screen to make it easy-to-use.
Ledger Nano X Supported Cryptos
One of the most important questions, when it comes to buying a hardware wallet is: Does this support the cryptocurrencies and tokens I’m going to buy, sell, exchange, and stake?
The good news is, with the Ledger Nano X you can buy, sell, exchange, stake, lend and manage 27 coins and over 5,500 tokens and NFTs directly from your smartphone or computer. These include popular cryptocurrencies, including Bitcoin, Ethereum, DogeCoin, Litecoin, Ripple and Stellar.
Ledger has worked hard to increase the number of coins, tokens, NFTs, and other digital assets it supports. When first launched, it only supported around 1,500 coins and tokens. Plus, the number of apps it supported was limited. Now you can download and connect to over 100 apps. You can find a full list of Ledger supported cryptocurrencies here.
Ledger Hardware Wallet Features
Ledger Live is an easy-to-use gateway for managing your Ledger hardware device. You can download this secure cloud-based software onto your desktop or your mobile phone from the Ledger Nano X app. The Ledger Live software is free to use and supports both the Ledger Nano S and the Ledger Nano X.
With Ledger Live you can send, receive, stake, and swap your crypto assets. With the recent addition of Bluetooth connectivity, you can perform all these actions on the go, with access from a mobile device.
Ledger Live App for Nano X
The Ledger Nano X app, allows Ledger Nano hardware device users to manage their crypto on a mobile device. This is known as Ledger Live (Mobile), which we explain in more detail below. With the app, you can buy crypto such as Bitcoin and Ethereum via their partner Coinify. You can also use the app to send and receive your crypto on the go. Plus you can swap, stake and lend your assets too.
Ledger offers several layers of support, with a Live Chat feature, active social media channels (where you can also ask for help), a Help Center, Frequently Asked Questions (FAQs), and a Contact Us option.
They don’t say how quickly they answer questions, but customers shouldn’t wait for more than 24-hours for a response.
Ledger is known for its security. Not only do they sell a popular range of hardware wallets, but other companies in the crypto space actively work with them to provide security solutions for crypto exchanges, apps, and platforms.
Even with the cyberattack in July 2020 (more on that below), the hardware wallets themselves remained secure, behind layers of encryption and security. Ledger then took action to increase security within other internal systems.
Within the wallets, Ledger uses a secure chip, “a tamper-resistant platform capable of securely hosting applications and data in accordance with the rules and security requirements set by pre-authorized applications and people.” Not only that, but Ledger has created “a distinctive operating system called BOLOS, which we integrate [into the] secure chip for the Ledger wallet line.”
Because Ledger uses a system they have designed, customers don’t share the same risks as they do on other platforms and with other wallets when software is open source, as is often the case in the crypto sector.
Are Ledger Hardware Wallets Safe?
Yes, Ledger puts great efforts into ensuring their wallets are secure, using a secure chip and proprietary operating system. Even when the hack happened in 2020, the wallets remained secure, and there have been no cyber-breaches since. Hardware wallets from Ledger are some of the safest wallets currently on the market.
Ledger actively warns against scams on the Contact page, saying; “[The] Internet is full of scammers. They might contact you by pretending to be someone from Ledger Support and asking for your 24-word recovery phrase. Never share your 24-word recovery phrase, even with Ledger Support. Ledger will never ask you for your 24-word recovery phrase.”
Receiving Phishing emailing from fake Ledger accounts? Learn How to Protect Yourself from Ledger Phishing Scams?
Unfortunately, one of the reasons for this warning is in July 2020, Ledger suffered a serious cyber-breach. A total of 272,000 customers were affected, with 1 million email addresses, postal addresses, names, and other details leaked online.
However, the devices themselves were unaffected, and customer funds remained secure behind layers of encryption. Affected customers were contacted, and shortly after, Ledger took steps to ensure a similar attack wouldn’t happen again.
Ledger Nano X Price
The Ledger Nano X is currently priced at $150 (£136). Some reviews consider this price a bit high, and it has gone up recently. However, Ledger regularly runs promotions for their devices which you can check out over on our deals and promotions page.
You can also make savings by purchasing bundles, which you can then use as additional or backup devices.
Ledger Nano X Discount Code
If you’re interested in purchasing a Ledger Nano X, or any other Ledger product, they regularly run promotions where you can pick up some great deals. Ledger offers their biggest discounts during Black Friday and Cyber Monday. In 2021, you could have saved a massive 45%, and we expect Ledger to run similar deals this year.
Ledger Nano X Alternatives
Given the range of hardware wallets on the market, it’s important to compare the Ledger Nano X with other devices. Let’s take a look at how it compares with another Ledger device, the Nano S, and competitors the Trezor Model T and Keevo.
Ledger Nano X vs Ledger Nano S
The Ledger Nano X and S both come from the same family of hardware wallets; but how do they compare? Well, the Ledger Nano S has been around since 2016 and some users didn’t like the clunky buttons on top of their device. Plus, the number of coins, tokens, and supported apps was fairly limited.
With the Ledger Nano X, there have been significant upgrades and improvements. The Ledger Nano X has buttons on the front of the device (making it easier to use) and five times more storage space for over 100 apps. It also comes with a larger screen, Bluetooth and wired connections, and a more powerful secure element chip.
All these new features do come at a price though, with the Nano X costing $150 (£136). As opposed to the cheaper price tag of $59 (£54.50) for the Ledger Nano S.
Colour Touch Screen
Cheapst Hardware Wallet
Trezor Model T
Ledger Nano X
Ledger Nano S
Ledger Nano X vs Trezor Model T
First up, let’s talk about the price. The Ledger Nano X will cost you roughly $150 (£136), while the Trezor T is $159. Although both regularly run promotions for their devices which are worth checking out.
The Trezor Model T has a really nice colour display and touchscreen which is very easy to use. Whereas the Ledger Nano X has a digital black and white display with 2 external buttons to operate. Both have a wide range of supported cryptocurrencies.
However, where Ledger takes the lead is with the Ledger Live management software and Bluetooth connectivity.
Should you Buy the Ledger Nano X?
When it comes to the number of apps, supported cryptocurrencies, tokens, and NFTs, the Ledger Nano X is miles ahead of competitors and Ledger Nano S Plus. Plus, with the Ledger Live and Ledger Nano X apps, there are nice easy ways to manage your private key, and buy, sell, swap, and stake cryptocurrencies on these apps, your computer, and the device itself.
It’s not just the convenience factor, it’s the security too. With proprietary software and a secure chip, it’s one of the safest ways to manage your crypto assets.