Ledger Nano X: What’s in the Box?
If you want to use Ledger Nano X to keep your cryptos safe, visit their official website and purchase. It is available for $119 or £109. Here is what you can expect to receive when you order the Nano X.
- 1 USB Cable.
- 1 Hardware Wallet
- 1 Instructional leaflet
- 1 Keychain Strap
- 3 Recovery Sheets
Although you will learn everything about getting started with the Ledger Nano X’s device in our review, still, like all major companies, Ledger also provides an instructional leaflet to guide you through the process.
As Ledger Nano X is the company’s latest product, the wallet contains all the features of its sibling products; it also covers all the aspects where they were lacking and comes in a more refined shape with enhanced digital display and more intuitive and easier to use controls.
Being a hardware wallet, Ledger Nano X was designed to store all kinds of digital assets and tokens. As of writing this piece, the wallet can hold over 100 cryptocurrencies out of 1300 cryptocurrencies available in the market. Moreover, the support for the latest cryptos gets added on a regular basis.
The Ledger’s flagship product also deals with one significant problem that its sibling, Ledger Nano S, used to face. Ledger Nano X comes with an internal memory of 2048KB, which allows its users to store as large as 100 applications on the device simultaneously.
In addition, the Ledger Nano X is one of the first cold wallets embedded with a 100mAH battery, an integral update improving support of the news Bluetooth connectivity features. This allows the wallet to connect to your mobiles without cables, whereas you needed Ledger OTG cable Kit to connect in the previous version of Ledger.
With the added features such as a larger screen, enhanced navigation system, rechargeable battery, and extra storage capacity, Ledger has evidently tried to vastly improve over it’s initial products and is on the right track to facilitate its userbase to store their digital assets with a sense of complete security.
Ledger Nano X: Supported Cryptocurrencies
As we mentioned earlier, the Ledger Nano X wallet allows its clientele to choose from more than 1300 cryptocurrencies and tokens available in the market. It is an excellent wallet to simultaneously store diverse kinds of cryptocurrencies, including all the popular cryptocurrencies of modern time such as Bitcoin, EOS, Litecoin, Ethereum, and Ripple, as well as it also supports 1250 ERC-20 tokens. Furthermore, the wallet lets you operate up to 100 different crypto wallet applications as well.
Following is the list of some of the popular digital currencies that the Ledger Nano X supports:
- Bitcoin Cash
To know more about the cryptocurrencies supported by Ledger’s latest cold wallet, please visit Ledger’s official page, which enlists all the cryptos it supports.
You can purchase the Ledger Nano X for $119 or ￡109(VAT excluded) through the official page of the manufacturer, Ledger. Indeed, it is twice as costly as it’s previous model, Nano S($59 VAT excluded).
The extra features in our opinion makes it a worthwhile investment, added in the fact that you have the capacity to hold a variety of more coins.
Although Nano S is relatively cheap, in comparison, the insufficient lack of storage for coins can be a big drawback for you. While on the other hand, through Ledger Nano X, the ability to access your cryptos on the go via your smartphone is a big Plus.
Ledger Nano X: Advantages and Disadvantages
- Significantly improved version of Nano S
- Improved Display
- Bluetooth connectivity enabled
- Available on both desktop and smartphone operating systems.
- Stores your private key inside cold wallet’s chip
- Supports up to 100 wallets applications simultaneously
- Safe and secure delivery upon purchase directly from the manufacturer
- Supports 1300 digital assets and 1250 ERC-20 tokens
- Facilitates high-end security due to the certified SE chip
- Bluetooth connectivity with mobile applications only
- Cannon buy cryptos and tokens directly from the wallet.
- Fairly Expensive
- Tutorial may be needed for user interface
Ledger Nano X: How to set up your wallet?
Although Ledger Nano X hardware wallet uses its own operating system dubbed Bolos, it still works with all the major operating systems of mobile and desktop such as iOS, Android, Windows, macOS, and Linux.
Whether you are using mobile or desktop, you need to follow the below simple steps to activate your wallet.
Step 1. Download and Install Ledger Live
The Live software enables you to activate your device and manage your assets. It is available on Ledger’s official website for all OS’s, i.e., Windows, macOS, Linux. Mobile users can download it easily from Google Play and App Store.
Once installed, add the account, which will enable you to manage your cryptos.
Step 2. Set up as a new device
To create a new device, first, you need to turn it on by pressing the hold button given next to the USB port as long as you see the Ledger’s official logo. Once it starts, you are to follow the on-screen instructions. When you see “Set up as new device,” you will then need to press both right and left buttons, given on the device, simultaneously.
Step 3: Set up a PIN code.
At this point, you need to set up your pin code by the device. To set up your PIN code, you again need to use any of the buttons to select a number and press both buttons altogether to confirm it.
Mandatory, you are to set up a pin code of 4-8 digits. Once done, you will then need to reconfirm the PIN code.
Step 4: Note down your 24-words recovery phrase.
Once your PIN code is set up, you will see a 24-word long recovery phrase on display next. You should note it down as you will not see it next time. Press both buttons, and the first word will be showing on the device, write it and press on the right button to move on to the next word. Keep on writing every word until you reach the last word. After that, you will need to press both buttons to continue the process.
At this stage, you will need to confirm your recovery phrase. Once you confirm your 24-words phrase, your device is ready now!
Press on both right and left buttons to access the Dashboard.
Step 5: Install Applications.
Once your Leder Nano X device is ready, you can now begin installing applications on it. You need to go to Ledger Live Manager and choose the application you want to install. As we have discussed earlier, you can install applications regarding all the major cryptos on the market, such as Bitcoin, Ethereum, XRP, and many other cryptos.
Ledger Nano X: How Secure is it?
To talk about the Ledger Nano X wallet’s security aspects, Ledger successfully maintains an excellent reputation it has achieved so far from its earlier products.
First of all, the Ledger Nano X wallet entails two Built-in chips, making it almost unhackable. One security chip (STM32WB55) is responsible for its operating system, BOLOS. The other one, certified as CC EAL5+, ensures private key encryption and signing of the crypto transactions (ST33J2M0).
Moreover, Ledger also sustains the native SegWit(or Bech32) address standard. SegWit address, which is one of the address formats that start with the prefix “bc1” in achieving faster transactions and reducing both the amount of block size they hold and costs per transaction.
Like its predecessor, Ledger Nano S, Ledger Nano X also enables you to create a paraphrase, protecting your assets against unauthorized access.
Finally, the Bluetooth connection between your device and your desktop or smartphone is ensured by end-to-end encryption. In this way, your connection cannot be infiltrated by cybercriminals. Besides this, your connection also works as an add-on to the physical buttons as it is only established to confirm transactions. In other words, if there is any possibility of hack in the future, your assets are safe.
No doubt, Ledger has made a significant effort to construct their latest hardware wallet model to the next level. The mixture of sleek design and a larger screen and features on its native Ledger Live software makes the device like a powerhouse to manage your cryptos.
The Ledger’s flagship product, Ledger Nano X, is undoubtedly an alluring addition to the market of cold wallets. It is a highly secure, friendly user wallet that enables you to store your digital assets with a sense of peace in mind about their safety.
To compare it with other cold wallets in the market today, its accompanying app, Ledger Live, facilitates you to purchase your assets directly and convert tokens into one another with quite an ease.
Moreover, if we compare it with its predecessor model, Ledger Nano S, the latest model ensures better usability. It allows you to manage your assets using your smartphone and comes with a larger screen, which helps better navigation.