Ledger Nano X Review: Top Hard Wallet In June 2024?
As web3 and particularly cryptocurrencies are going more mainstream and their adoption increases, so do scams and fraud. The main weapon to protect your digital assets is a hardware wallet, which is a very powerful tool to stay safe against online theft threats. Also, a hardware wallet keeps your private keys safe and offline, making it almost impossible for someone to access, manipulate or steal your funds.
In this article we are reviewing the Ledger Nano X wallet by exploring the features and functionalities of this must-have cold wallet, as well as how to set it up in four simple steps.
What is the Ledger Nano X Cold Wallet?
The Ledger Nano X crypto wallet is a web3 security solution designed to keep your digital assets safe. You can store coins, tokens and NFTS from various blockchain networks, including Bitcoin, Binance Chain, Ethereum, Solana, Dogecoin, Ripple and more. This cryptocurrency wallet supports also Bluetooth connection, which simplifies the management of your crypto portfolio by connecting to your smartphone on the go.
Who is behind Ledger Nano X?
Ledger Nano X was shipped firstly on May 15th 2019 by Ledger -- a fast paced, growing company developing a variety of products and services to enable users and companies to securely buy, store, swap and manage their digital assets. Ledger has also created:
- Ledger Live, a multiplatform app where you can safely manage your digital assets and explore a growing number of Web3 apps,
- Ledger Enterprise a branch of the Ledger company dedicated to businesses, which helps hundreds of exchanges and corporations to leverage their digital value with the proper governance and security frameworks.
- Ledger Stax, a whole new fresh look hardware wallet created with Tony Fadell (the creator of the iPod and the co-creator of the iPhone) to bring your experience to a whole new level.
How Does Ledger Nano X Work?
Ledger Nano X is an hardware wallet which comes with an external app available for multiple platforms such as your smartphone and your laptop and within multiple operating systems like iOS, Windows, Mac and Android. Later we will go in depth on how to setup your Ledger on any of devices mentioned above.
Ledger Nano X Supported Coins
With Ledger’s crypto wallet users can store over 5,500 coins and tokens from various blockchains. This includes the best cryptos like Bitcoin, Binance Chain, Ethereum, Solana, Dogecoin and more. With Ledger Nano X you install the blockchain app you want – via the Ledger Live app – and then store all tokens on that particular blockchain without the need of any technical knowledge.
For example, by installing the Ethereum app, you can now safely and seamlessly store any of the thousands of tokens from the Ethereum blockchain, such as ETH, SHIB, TMC, RNDR, CGPT, USDT and SAND. You can repeat the same exact process for any type of blockchain ecosystem you want. It’s important to understand that not all coins are supported directly in the Ledger Live app, but you can still safely store them in your Ledger Nano X.
Is The Ledger Nano X Safe?
The Ledger Nano X crypto cold wallet is one of the industry-leading most safe wallet you can get to safeguard your digital assets and stay protected against the malicious attacks online. Even when a software hack happened recently that was not directly affecting Ledger devices, Ledger said it would reimburse the victims.
Industry-Leading Safety With Software and Hardware
The Ledger Nano X hard wallets contain a secure element chip called CC EAL5+ and a proprietary operating system called BOLOS (Blockchain Open Ledger Operating System). The first element is designed and built to isolate cryptographic transaction signing from the rest of the wallet, thus to minimizing points of failure. The BOLOS software, on the other hand, is an element what gives the Ledger Nano X multi-chain support. Because of that, you can install various blockchain apps and store a variety of promising cryptos and NFTs in your Nano X available on the Web3.
PIN Protection and Physical Buttons
To access your Ledger Nano X wallet, you need first to enter a PIN combination of up to eight numbers that you can enter only three times otherwise you will need to reset your Ledger and re-enter your secret-phrase. What further increases your protection accuracy is that all the numbers are laid out from zero to nine on your OLED screen and you have to press the physical buttons to get to each number. Once you select a number, the device randomly jumps from the selected number to another number, making it impossible for anyone trying to figure out your PIN by looking at how you press the buttons. Once you access your Ledger Nano X, select which blockchain app to use if you have multiple installed. Every time you make a transaction on the blockchain, you will have to sign it by pressing both buttons. This means, no one can drain your account unless you physically approve the transaction.
Bluetooth Security
Some users worry that the Bluetooth connection is a point of failure that hackers can exploit. However, the Bluetooth connection on your Ledger Nano X wallet is securely encrypted end-to-end. Ledger is constantly updating their firmware to patch potential vulnerabilities. Check always the Ledger Live app from time to time and update your Ledger Nano X wallet if there’s an update waiting for you.
Is Ledger Nano X Easy to Use?
The Ledger Nano X wallet is easy to use whether you’re newbie or pro in crypto. The setup process is straightforward, and once you’re done – you can start store your cryptocurrencies into your cold wallet for safekeeping. If you want to actively manage your Web3 portfolio by swapping coins, staking or yield farming on decentralized applications, you can do so through the Ledger Live app or by connecting your Ledger Nano X wallet with other wallets like MetaMask and use it a proxy.
One feature that makes the Ledger Nano X hard wallet easy to use on mobile is the Bluetooth connection. If you’re using a mobile device like an iPhone or an iPad, this is the only way to connect and manage your portfolio on your mobile device. Android users can use either the Bluetooth connection or by connecting via a USB cable. The Ledger Nano X app, called Ledger Live, confer ease of use of the hardware wallet. Everything you need to do can be done via the Ledger Live app, including updating your wallet’s software, adding new blockchain apps, staking coins, swap between blockchains and even buying supported coins.
Stand-Out Features of the Ledger Nano X Wallet
Our thorough Ledger Nano X wallet review goes through all the features that make this one of the best hardware wallets you can get.
Unparalleled Security
The combination of a secure element chip and a custom operating system is the basis of the Ledger Nano X security. This means you can make cryptographic transactions and other operations – even by using a Bluetooth connection – without exposing your private keys online. Moreover, there’s a PIN combination that locks your device. Even if someone gets a hold of your Ledger Nano X, without the PIN, they won’t be able to access it.
User Experience
Setting up the device takes a few minutes with four simple steps. This makes it easy to onboard anyone into crypto, even beginners. Once you’ve set up your device, you get access to an industry-leading companion app where you can manage your portfolio, purchase new coins, stake them or swap them, and even access decentralized apps on various blockchains. Add in the Bluetooth connection, and you’ll be able to manage your crypto portfolio on the go by connection to your mobile device.
Ledger Crypto Card
The ussers who wants to fully own their assets while still having access to traditional payment methods will likely find the CL Card incredibly useful. Baanx (a fintech company) provides the card, but it’s only available to UK and EEA customers.
The crypto card lets you spend your cryptocurrencies or use your crypto as collateral with rates that start from 0% of commissions. On top of that, there are cashback rewards of 1% for Bitcoin and USDT and 2% for the BXX token, depending on which crypto you decide to use. With the CL card, you can use your crypto everywhere where a card is accepted as a payment method. Unlike traditional banks that can freeze your assets, the CL Card provider can’t touch your digital assets as they are stored on your Ledger Nano X wallet, and you are the only one who has the keys.
Integration With Third-Party Wallets
If you already used hot wallets like MetaMask for Ethereum and its Layer 1 blockchains, or Backpack and Phantom on Solana, you can connect your Ledger Nano X wallet to either of these and use these wallets to connect to decentralized apps and act as a user interface for the assets stored on your Ledger device. For our Ledger Nano X wallet review, we connected a Ledger Nano X wallet with MetaMask. Here’s how to do it:
- Select the account tab in your MetaMask wallet.
- Select “add account or hardware wallet”.
- Plug your Ledger Nano X into your computer.
- Select “Ledger” from the options.
- Follow the prompts.
You can now easily manage all of your Ethereum coins, tokens and NFTs directly from MetaMask while being stored on your Ledger Nano X.
Customer Support
The Ledger company has one of the best customer support services in the industry. The support team is available for contact via email, social media or live chat, whichever you prefer. There’s no phone option, but that’s not a problem given the responses and solutions you get are fast. And if there’s a problem with your Ledger Nano X wallet, say your Ledger got an issue like the battery has died, Ledger will ship you a replacement device free of charge.
If you are intereste in the Ledger’s social media accounts, these are the main channels you can check:
- Ledger Support on Twitter
- Ledger on Reddit
- Ledger on Facebook
- Ledger on Instagram
- Ledger on TikTok
How to Use Ledger Nano X
If you’re wondering how to set up Ledger Nano X hardware wallet, follow these steps: Step 1. Download the Ledger Live App on a device You will need to download the Ledger Live app from Ledger’s official website. You can find it under the “app and services” navigation menu.
Install the app and go “Get started”. Select Ledger Nano X device from the options, and choose “First time using your Nano X?”. Follow the indications.
Choose between four and eight digits to setup your cold wallet PIN. By choosing eight digits PIN will make your device more secure.
Step 3. Write Down Your Recovery Phrase Use the recovery sheets that comes in your Ledger Nano X package to write down your secret 24-word seed phrase. Never take a screenshot and never write it down on your computer. If your computer is compromised and someone finds your seed phrase, consider your assets gone.
Now verify the recovery words on your Nano X device. Once that’s all set up, open the Ledger Live app. Click “Check my Nano” to ensure that the device is correctly working and it’s a genuine device.
Step 4. Install Blockchain Apps In your Ledger Live app go to the “My Ledger” tab. From this section you can update your firmware and install the blockchain apps. There is no need to install every single app. Install only the ones that you will use, and that concludes your Ledger Nano X setup.
If you’re wondering how to transfer your cryptocurrencies to your new Ledger Nano X cold wallet, simply create a new wallet on the blockchain you want, for example, Bitcoin, and then copy the address. Use that address as a receiving address on a crypto exchange or another wallet. To ensure all is good, try it first with a smaller amount.
Is Ledger Nano X a Good Buy in 2024? Our Verdict
Our detailed Ledger Nano X review reveals it to be the top contender for the best hardware wallet in 2024. With support for over 5,500 cryptocurrencies, tokens, and NFTs, you can control your entire portfolio directly on your mobile device via Bluetooth or through your computer. Ledger Live, the user-friendly companion app, even allows you to stake your assets and seamlessly purchase new crypto assets.
Whether it be coins, tokens or NFTs, in the ever fast-pacing Web3 protecting your digital assets is the most important step and it costs just $149 for the Ledger Nano X, a small price to pay for the peace of mind.