The Ledger Nano X is an affordable way to store your crypto offline. This little hard wallet is easy to use and can be safely stored anywhere in your home. We’ll take a closer look in this Ledger Nano X review.
What Is a Hard Wallet?
A hard wallet (aka ‘hardware’ wallet) is a physical device you can use to store the keys to your cryptocurrency assets. It is the safest way to store your money because it cannot be hacked. When the hard wallet is not plugged into your computer, it cannot be accessed by the web. You can learn more about holding your assets on a crypto wallet vs crypto exchange here.
On the other hand, software wallets represent lots of risks. Your crypto gets stored on someone else’s servers, and as the saying goes, “Not your keys, not your crypto.”
Why Do You Need a Crypto Wallet?
You need a hardware wallet if you’re holding significant amounts of cryptocurrency or NFTs. The fact is that too many exchanges get hacked or taken down. If you keep your money on a crypto exchange, you’re risking your entire investment.
Hard wallets offer complete security. They are not connected to the web and you can store them in a safe. Even if you lose your wallet, you can retrieve your crypto from the blockchain by using your 24-word keyphrase, so your crypto remains safe either way.
You won’t get that from a software wallet.
Ledger Nano X Review
Ledger has been in the hardware wallet game for some time now. They were founded in 2014 in Paris, France by crypto enthusiasts who saw a need for a secure method of storage.
The Ledger Nano X is the newest of Ledger’s hardware wallets. It features more security and better interconnectivity than their previous Nano S model.
Benefits and Features of Ledger Nano X Wallet
The Ledger Nano X comes with a few bells and whistles that make using it a breeze. For starters, there’s a control center where you can access the device settings. This makes the control of your wallet straightforward.
The Ledger App
The Ledger app is the hub for all of your crypto management. Your wallet will connect to this app when plugged in and turned on. Here you can buy or sell crypto, trade it, exchange for other cryptos, and keep an eye on prices.
The Nano X includes Bluetooth so you can connect it to any device. If you’re on the go and need access to your Bitcoin, simply connect it to your smartphone or laptop via Bluetooth.
Automatic Switch Off
Another security feature is the ability to set an automatic switch off. You can program this in the control center and forget about it. If you leave your wallet plugged in somewhere, the timer will switch it off and keep your assets safe.
The Ledger Nano X and the Ledger app are cross-platform. You can find them for Windows, Mac OS, Android, iOS, iPad OS, and Linux. This means you can use it no matter what device you use.
100s of Cryptocurrencies
The Nano X supports 1500 different cryptocurrencies. These include:
- Ethereum Classic
Chances are the wallet will support your crypto, no matter what you trade-in.
One of Ledger’s defining benefits is its built-in secure elements. This is a separate piece of hardware that stores sensitive information such as crypto keys. This means your device cannot be hacked, even when connected to the internet. Even if you lose your Ledger Nano X, you can recover your funds with a secure mnemonic recovery phrase. We’ve done a whole breakdown on how these mnemonic recovery phrases work here.
The Ledger Nano X interface is small and unassuming. There’s a miniature LCD screen on the thumb drive. The wallet is secured with a four-digit password which you can unlock using your fingerprint.
The screen itself is barebones. It has a soft blue glow to it and the icons and fonts stand out on the black background.
The LCD screen can rotate between different settings. There are multiple options to choose from, from Bluetooth settings to sleep options. Simply click the built-in fingerprint scanner to cycle and select options.
The Ledger Nano X faces stiff competition from the Trezor Model T. This Czech company invented the hardware wallet and the Model T is the most similar to the Nano X that you’ll find.
Ledger Nano X vs Trezor Model T
Although both models do the same thing, they have several differences that cannot be overlooked.
The Ledger Nano X costs around $100, while the Model T costs over $200.
Winner: Ledger Nano X
Both the Ledger Nano X and the Trezor Model T feature state-of-the-art security and are both unhackable. Both offer 2FA and PIN access. The Nano X features a Security Element while the Model T features multi-signature access.
The Trezor Model T supports over 1,000 cryptocurrencies. However, the Ledger Nano X supports more than 1500 cryptos, making it the clear choice if you hold some rare assets.
The Ledger Nano X is available on every platform. It also features a built-in cross-platform password manager. The Model T, on the other hand, cannot be used with Linux operating systems and comes with no other bells and whistles.
Winner: Ledger Nano X
Finally, the Ledger Nano X can connect through USB, Bluetooth, and Wi-Fi. The Trezor Model T only offers USB connectivity. That makes it tough to use on the go.
The Ledger Nano X is the better buy. It offers more connectivity to more platforms, stores more currencies, and has excellent security. Best of all, it is only half the price of the Trezor Model T.
Why You Should Buy Now
Hopefully this Ledger Nano X review has informed you about the importance of a hard wallet. You should buy a hardware wallet if you own any amount of cryptocurrency, and the Ledger Nano X is one of the best options available.
Aside from being small and stylish, it offers exceptional security for your money. The Secure Element second layer is an innovative security design, yet the interface and the ability to connect to any operating system through Bluetooth make it ultra-portable.
The Nano X isn’t just for storing your crypto. It’s for using your cryptocurrency when you’re out and about. That makes the Ledger Nano X the best hardware wallet you can buy.