Complete Ledger Nano X Review 2020

Ledger Nano X is one of the most popular and most advanced hardware wallets for storing digital assets, and with good reasons. It’s secure, it features an increased capacity for cryptocurrencies, and it has Bluetooth connectivity.

That’s not to say there aren’t some shortcomings too. In this article, I’m going to share my personal experience with you so that you can decide for yourself whether or not it’s the best on the market.

What Is A Crypto Hardware Wallet?

Ledger Nano X

From Ledger.com

You’ve likely heard about online crypto wallets and how they can help you store your cryptocurrency. A hardware wallet shares the same purpose, but it does things a little differently.

It’s a physical device, often a USB drive or some sort of external device, that stores your private key. Hardware wallets are intended to be much more secure than an online wallet, because they never share your private key.

When you want to send money, it signs the transaction on the device rather than on the computer where it’s connected.

Keeping your private key offline means you don’t run the risk of it getting exposed to any malicious activity online like getting your crypto stolen by hackers. Hardware wallets are very popular choices for a lot of people storing their crypto because they’re not constantly connected to the internet.

Who Are Ledger and What Is Ledger Nano X?

Ledger nano X

From Ledger.com

The Ledger Nano hardware wallet (including the Nano X and the Nano S) and the TREZOR hardware wallet, always top online lists of the best hardware wallets available.

This makes Ledger the leading manufacturer of hardware wallets, with Satoshi Labs (who manufactures TREZOR) being a close second. Ledger was founded in 2014 as a security and infrastructure company specializing in crypto storage solutions.

A current team of more than 130 experts leads development of products and services to help you keep your cryptocurrency safe and secure. The Nano X is their latest hardware wallet release, but they’ve been at this gig a while.

In fact, Ledger defines what they do as protecting what you can’t see. Our lives are becoming more digital, and we do more things online everyday. Defining trust is harder for intangible objects. They’ve dedicated their company to conquering one of the most important challenges of our generation, and that is securing your digital assets.

One of the most notable differences between the Nano X and other models from Ledger is that the Nano X includes bluetooth connectivity. This feature allows you to control your hardware wallet from your smartphone in addition to your computer.

Another upgrade users enjoy is the fact that, while it supports roughly the same number of coins, it also includes storage for 100 apps, rather than the 18 that the Nano S was capable of.

The beauty of the Nano X, and most other hardware wallets, is that it’s compact enough to fit in your pocket. Its sleek and attractive design is much better, in my opinion, than a lot of other hardware wallets and the digital display is easy to read.

My Ledger Nano X Unboxing

Ledger Nano X Unboxing

From Ledger.com

When you first receive your Ledger Nano X, you’ll notice that the packaging is sleek and sophisticated. It’s simple and white, and reminds me of the packaging you might see when purchasing an Apply product. It comes with the device, a USB-C cable for charging, a set of recovery seed cards, and instructions for setup and use.

The device contains seamlessly integrated buttons that aren’t bulky or in the way. It’s a beautiful and intelligent-looking design that’s easy to appreciate.

How To Set Up Ledger Nano X

Ledger Nano X and app

From Ledger.com

To set up your Ledger Nano X, you’ll have to go through a series of steps, but they’re all relatively straight forward. Just power on your device for the first time and plug it into your computer to get started.

Setting your PIN

The first thing you’ll want to do is choose a 4-8 digit PIN that only you know or have access to. Toggle through the numbers using the two buttons on top and press them both simultaneously to select each one.

Recording the seed phrase

Your seed phrase is your wallet password. You must keep it hidden and safe. Memorizing it is ideal, but because you don’t get to choose your own seed phrase, that’s a bit risky. Your best bet is to write it down if you think you’ll forget it and then lock it away in a safe somewhere.

When you initialize the device, you receive this 24-word seed phrase. You need this phrase to recover all of the funds stored on your device in case it gets broken, lost, or stolen. After you record your seed phrase, you’ll be asked to confirm it in its entirety.

Some hardware wallets, like the Trezor, allow you to skip the seed phrase step and come back to it later. However, it’s an important step, so Ledger requires it up front. It might be annoying for those who are excited to get up and running quickly, but it’s the best way to keep your crypto secure.

Pair your Nano X to a smartphone.

Ledger nano X App

From Ledger.com

Unlike any other hardware wallet on the market, you can connect your Nano X to your mobile phone so you won’t want to skip this step. Other Ledger devices can only be controlled via a desktop computer, but connecting the Nano X to your phone is a big plus.

Unfortunately, it’s not quite as easy as you might think. The process tends to be buggy and you might have to try it more than once to get it connected. Just download the Ledger Live software on Ledger’s website. Once it’s connected, using the app itself could stand to be a bit smoother.

Anytime you do something on the app, you have to wait for bluetooth to connect and then approve the action. Sometimes it won’t prompt you to approve the action, in which case you have to wait for it to auto approve, which takes a few more seconds.

Given that this is the only hardware wallet with bluetooth, there’s nothing to compare it to, so it’s still far superior to any other device. However, the clumsiness can be annoying and you may find that it’s not worth messing with at all. If that’s the case, you can always plug it into your computer to use the desktop app instead.

Installing apps

Fortunately, the light at the end of the bluetooth tunnel is that apps are way easier to get installed. Just choose which apps you need based on what coins you want to store. Download them and install them from the Ledger Live app, and hit the Receive button to move your coins onto the device.

Adding accounts

After you install the coin apps from the Ledger Live app, you also have to connect your accounts. For instance, if you download the Bitcoin app, you need to also set up or connect your existing Bitcoin account.

This part was confusing, because I thought for sure that after I downloaded the Bitcoin app I would be able to receive funds, but I wasn’t quite ready yet. After you download your apps of choice, you’ll have to sign in to any accounts you have with those coin’s apps.

Instructions for this part are provided in detail on Ledger’s website, but it could be much more intuitive. Once you know you have to complete this step, it’s easy to do.

Thoughts On The Hardware Wallet

For the price, I have some conflicting emotions regarding the Nano X. The bluetooth connectivity is nice in theory, but it was harder to work with than it should have been. However, I still do have the option to control it from my smartphone, even though it’s cumbersome, which is more than any other hardware wallet out there.

I really like the design of the Nano X more than any other hardware wallet, and the sheer number of coins supported and stored on the device simultaneously is incredible. It might be worth the cost just for the storage alone.

By holding 100 apps, it provides significantly more functionality than any other hardware wallet, which ultimately makes your life easier. By comparison, the Nano S can only hold 18 and the Trezor can only store 4 at a time.

I would venture to say that if you don’t need to store up to 100 coins simultaneously and you don’t care about trying to navigate the bluetooth issues, the Nano S might be a better purchase. It’s still just as sleek, it comes in 6 colors, and it’s a lot cheaper.

Which Crypto Does Ledger Nano X Support?

The Ledger Nano X supports more than 1000 tokens and coins, so it would be almost impossible to list them all here. The top supported coins include:

  • Bitcoin
  • Bitcoin Gold
  • Bitcoin Cash
  • Ethereum
  • Ethereum Classic
  • Ripple
  • Stellar
  • Litecoin
  • Zcash
  • Dogecoin
  • Dash

Other coins you may have heard of but that are a little less popular are EOS, Cardano, Tezos, Tron, Vechain, and Nano. You can check out a full list of what the Nano X supports here. Keep in mind that these are the coins supported, but the Nano X can only hold up to 100 assets simultaneously.

Ledger Nano X Price

The Ledger Nano X is slightly more expensive than other hardware wallets. At $119, you get the physical device with added bluetooth functionality that allows you to control it from your smartphone.

It can hold 100 different assets at the same time. Just download the apps you need to store the crypto you want and you’re ready to go. While the price is steep comparatively, the added functionality and capacity is well worth it.

Ledger Nano X Vs Ledger Nano S Vs Trezor

Trezor hardware wallet

Photo by Kolar.io on Unsplash

As mentioned, the Ledger Nano X is the most advanced hardware wallet with bluetooth connectivity, support for over 1000 coins, and storage for up to 100 assets at the same time. However, there are other hardware wallets out there.

Ledger Nano S

The Ledger Nano S retails for $59. It supports all of the same coins as the Nano X, but it can only hold up to 18 coins simultaneously. With no bluetooth support, you can only control the Nano S from your desktop, but the significant reduction in cost might be worth it for you.

To enhance the looks of the device with slightly less functionality, Ledger has included a variety of color options to make it a little bit more personal. You can choose from matte black, saffron yellow, flamingo pink, jade green, lagoon blue, or transparent.

Trezor One

The Trezor One is the primary competitor for the Nano S. Their features are nearly identical, but they look very different. They’re both small enough for the palm of your hand, but the Nano S is more slender. However, the Trezor One feels a bit more durable because you have the option to purchase a metal casing.

While the Trezor One supports over 1000 coins, many of those it doesn’t support directly, so you need a third party wallet app to handle it. Both are easy to use, and the Trezor One rings up at $55, so they’re both affordable.

Trezor T

The Trezor T kicks it up a notch with a full color touchscreen. It has a microSD card for password storage in addition to the cloud backup that comes with the Trezor One and it also supports even more than the 1000 coins from Trezor One.

You get enhanced usability because your PIN and password entry as well as device recovery is all stored on the device itself rather than having to connect to a computer to use it. However, at $169 it’s more expensive than the Nano X, and it doesn’t have bluetooth connectivity.

  • Ledger Nano X
  • 💡 Additional Feature: Bluetooth
  • 💰Coins Supported: 1,000+
  • 💲Price: $119

  • Ledger Nano S
  • 💡Additional Feature: None
  • 💰Coins Supported: 1,000+
  • 💲Price: $59

  • Trezor One
  • 💡 Additional Feature: None
  • 💰Coins Supported: 1,000+
  • 💲Price: $55

  • Trezor Model T
  • 💡Additional Feature: Touch screen
  • 💰Coins Supported: 1,000+
  • 💲Price: $169
    💲Price: $169

Frequently Asked Ledger Nano X Questions

Here are some frequently asked questions that you may have when shopping for a hardware wallet like Ledger Nano X.

What is Ledger Live?

Ledger Live is the support behind controlling your entire Ledger Nano X hardware wallet. You can download the software to your computer or your mobile phone via the app. It’s compatible with all of the major platforms like iOS, Android, and Windows, so you shouldn’t have a problem accessing your wallet from any device.

How do I move my coins from Coinbase to Ledger Nano X?

Moving coins to your Nano X hardware wallet is easy. You can move any coins supported by the Nano X from anywhere they’re stored now, including Coinbase, in just a few simple steps. Setup your Nano X, connect your Ledger, and choose the app for the coin you want to transfer.

Once you’ve downloaded the coin’s app to your Nano X, you can access your account and click Receive to generate an address to transfer the coins to your Nano X device.

Does my Ledger Nano X have to be plugged in to receive coins?

Not at all. You can transfer any coins to your Nano X without plugging it in to your computer. Once you have an address for your coins, you can send them to your Nano X at any time. And because you can manage your Nano X from your phone, you don’t have to be plugged in to use it.

Can the Ledger Nano X be hacked?

It’s important to keep in mind that given enough time, anything can be hacked. You can read more about Trezor’s critical flaw here. However, the Nano X is one of the most secure hardware wallets you can buy.

Everything is stored directly on the device, and even when it’s plugged into your computer, it doesn’t transmit any of that data to online sources. This means you’re generally safer than if you were using an online wallet.

To date, there have been no reported hacks of a Nano X, but hackers are clever. The best thing you can do is to keep your device safe and hidden.

Can I use my Ledger Nano X with my iPhone?

Yes. Ledger supports iOS, so if you have an iPhone, you can control your Nano X via bluetooth from your smartphone.

Is Ledger NanoX Worth The Money?

The verdict here is that the Ledger Nano X is absolutely worth the money. If you’re looking for superior security, support for a ton of coins, and storage for a lot of apps, this is the hardware wallet for you. It’s a small price to pay to keep all of your digital assets safe.

  • Ledger Nano X
  • 💡 Additional Feature: Bluetooth
  • 💰Coins Supported: 1,000+
  • 💲Price: $119

  • Ledger Nano S
  • 💡Additional Feature: None
  • 💰Coins Supported: 1,000+
  • 💲Price: $59

  • Trezor One
  • 💡 Additional Feature: None
  • 💰Coins Supported: 1,000+
  • 💲Price: $55

  • Trezor Model T
  • 💡Additional Feature: Touch screen
  • 💰Coins Supported: 1,000+
  • 💲Price: $169
    💲Price: $169
DISCLAIMER: Be aware that the activity of cryptoassets mentioned in this article is unregulated. This article must not be construed as investment advice. Always do your own research.

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