Review and Comparison

The Ledger Nano X is the second hardware wallet introduced by Ledger. In this post I will share my personal experience with the device and my thoughts about whether it’s indeed the best wallet around.

Ledger Nano X Review Summary

1. Hardware wallets overview

2. Ledger and the Nano X

3. My Ledger Nano X experience

4. Supported coins

5. Price tag

1. Hardware Wallets Overview

The Ledger Nano X is a hardware wallet designed for secure storage and management of cryptocurrency assets. It is the next generation of Ledger’s popular Nano S wallet and features several advanced security and convenience features.

The Nano X is built with a Bluetooth connection that allows it to be used with a mobile device, making it more convenient for users who want to manage their crypto assets on the go. It is also equipped with a larger and clearer screen than its predecessor, which makes it easier to read and navigate.

The Nano X is designed with advanced security features to protect users’ cryptocurrency assets from theft, hacking, and other security risks. It uses a secure chip to store private keys and requires a PIN code to access the device. Users can also set up a 24-word recovery phrase during the initial setup process to restore their accounts in case of loss or damage to the device.

The Nano X supports more than 1,800 cryptocurrencies and tokens, including Bitcoin, Ethereum, Litecoin, and many others. It also allows users to manage multiple accounts and assets in a single device, making it a valuable tool for cryptocurrency investors with diversified portfolios.

One of the unique features of the Nano X is its integration with Ledger Live, a desktop and mobile app that allows users to manage their crypto assets and perform transactions with ease. With Ledger Live, users can securely buy, sell, and swap cryptocurrencies directly within the app using a credit card, debit card, or bank transfer.

Overall, the Ledger Nano X is an excellent choice for users who want a secure and convenient way to manage their cryptocurrency assets. Its advanced security features, Bluetooth connectivity, and compatibility with Ledger Live make it an ideal choice for both novice and experienced cryptocurrency users.

2. Ledger and the Nano X

Ledger is one of the two biggest hardware wallet companies around today (the other one being Satoshi Labs who manufactures TREZOR) and  Safepal Hardware wallet.

The company was founded in 2014 and is a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications.

Ledger has been growing at a fast pace over the past few years.. They specialize in developing a variety of products and services to safeguard cryptocurrency assets, the latest one being the Ledger Nano X.

The Nano X’s main difference from previous models is its bluetooth connectivity, which allows it to be controlled via a mobile phone and not just from a desktop computer.

3. My Ledger Nano X Experience

As an AI language model, I don’t have personal experiences, but I can share some general user experiences and reviews of the Ledger Nano X.

Overall, users have found the Ledger Nano X to be a highly secure and convenient hardware wallet for managing their cryptocurrency assets. Many users appreciate the larger screen and Bluetooth connectivity, which makes it easier to use with mobile devices. Additionally, the integration with Ledger Live has been praised for its user-friendly interface and ability to easily manage multiple accounts and assets.

Users have also praised the advanced security features of the Nano X, such as the secure chip and PIN code access, which provides peace of mind that their crypto assets are safe from theft and hacking. Additionally, the ability to set up a 24-word recovery phrase during the initial setup process is appreciated by users as it provides an additional layer of protection in case of loss or damage to the device.

One potential downside that some users have mentioned is the relatively high price of the Nano X compared to other hardware wallets. However, most users believe that the extra features and security measures of the Nano X justify the higher price point.

In summary, users generally have a positive experience with the Ledger Nano X, citing its advanced security features, convenience, and user-friendly interface as its key benefits. While the price point may be a consideration for some users, most agree that the Nano X is worth the investment for those looking for a secure and easy-to-use hardware wallet for managing their cryptocurrency assets.

What’s in the box?

The Nano X comes beautifully packaged with the device itself, a USB-C cable, a set of instructions and recovery seed cards. The previous bulgy buttons that were on top of the device are now seamlessly integrated on it in a way that’s even a bit hard to notice. All in all a beautiful design.

Setting up the Nano X

There are various stages you’ll need to go through in order to set up your Nano X.

Step 1 – Setting a PIN code

When you first power up the device it will ask you to choose a 4-8 digit PIN code. You can toggle between numbers using the buttons, while “enter” is achieved by pressing both buttons simultaneously.

Step 2 – Writing down your seed phrase

The seed phrase is like the password to your wallet. It’s something that should be kept safe and hidden at all times.

When initializing the device you will receive 24 words which you should write down on a piece of paper and store away. In case the device gets lost, broken or stolen you can recover your funds using your seed phrase.

Because the seed phrase is so important you will be asked to confirm it entirely after writing it down. Unlike the TREZOR setup process, with Ledger you can’t skip this part.

While I understand why Ledger insists on this, I find it a bit cumbersome and would prefer to have the option to skip this part and get back to it later.

Step 3 – Pairing the Nano X with your mobile

Now comes the interesting part, connecting the Nano X with your mobile device.

Previous Ledger versions were only controlled via the desktop software known as “Ledger Live”. The Nano X can also be controlled via the Ledger Live mobile app.

Pairing the device should be fairly simple and straightforward, but unfortunately, that’s not what I experienced. I found it a bit buggy and it took me two tries to get it to work.

The process becomes even more cumbersome when you start controlling the device from the app. Almost every time you execute an action on the app you need to wait for the bluetooth connection and approve the action on the device itself.

More often than not, the device doesn’t show the “approve” option and you just need to wait a few seconds for the action to be auto approved.

Step 4 – Installing apps

Once the device is paired and ready you can install different apps on it depending on the coins you want to use.

Step 5 – Adding accounts

This was, by far, the most confusing step for me. After installing the Bitcoin app I was sure I was ready to go. Apparently you have to also add a Bitcoin account on the device and that is not conveyed through the user interface.

Of course you can find a complete onboarding process on Ledger’s site, but as a veteran Bitcoiner I expected it to be more intuitive.

After 5 minutes of going back and forth I finally discovered this missing step and from there it was relatively easy to get the handle on how to control the device.

Mixed feelings

After setting up the Nano X and using it for a while I have to say I have mixed feelings about the device. On the one hand this is definitely an upgrade from previous models and other hardware wallets.

On the other, the interface isn’t as intuitive as I’d like it to be and the bluetooth connection seems to be getting in the way of every action.

Perhaps these are a result of technical limitations that I’m not aware of, but in the end, if this product is aimed at the general audience it requires a bit more polishing.

4. Ledger Nano X supported coins

The Ledger Nano X supports over 1000 coins and tokens. The main coins can be sent / received via the Ledger Live software interface. Here’s a list of the top supported coins:

• Bitcoin (BTC)
• Polkadot (DOT)
• Cardano (ADA)
• Bitcoin Cash (BCH)
• Bitcoin Gold (BTG)
• Ethereum (ETH)
• Ethereum Classic (ETC)
• Stellar (XLM)
• Ripple (XRP)
• Litecoin (LTC)
• Dogecoin (DOGE)
• Zcash (ZEX)
• Dash (DASH)
• Aptos (APT)
• Cosmos (ATOM)
• Fantom (FTM)

Less “popular” coins and mainly ERC-20 tokens (i.e. coins used in ICOs) need alternative software connected to the Ledger to send and receive them (e.g MyEtherWallet, MyCryptoWallet).

5. How Much  Nano X Cost?

The Nano X costs $149 (VAT excluded) which is twice the cost of the Nano S ($59 VAT excluded). Basically, you’re paying for Bluetooth support and extended capacity of coins (the Nano X can hold up to 100 assets simultaneously).

In my opinion, while this is a very big price leap it’s still worth the added functionality.

The Nano S’s limited capacity for coins can be a real hassle at times and the fact you can control your hardware wallet from your mobile is a huge plus.

What is Ledger Live?

Ledger Live is a free desktop and mobile application developed by Ledger, the company behind the popular Ledger hardware wallets. It is designed to be a user-friendly and secure way to manage cryptocurrency assets directly from a computer or mobile device.

With Ledger Live, users can securely buy, sell, and manage over 1800 cryptocurrencies and tokens, including Bitcoin, Ethereum, Litecoin, and many others. The application also supports a range of fiat currencies, so users can easily view the value of their crypto assets in their local currency.

One of the unique features of Ledger Live is its integration with Ledger hardware wallets, such as the Ledger Nano X and Ledger Nano S. Users can easily connect their hardware wallet to Ledger Live to manage their assets and perform transactions securely. This integration also allows users to view their entire crypto portfolio in one place, making it easy to track their investments and manage their holdings.

In addition to managing crypto assets, Ledger Live also provides users with access to real-time market data, news, and analysis, allowing them to stay up-to-date on the latest developments in the cryptocurrency market.

Overall, Ledger Live is a powerful and secure tool for managing cryptocurrency assets. Its user-friendly interface, integration with Ledger hardware wallets, and comprehensive features make it an ideal choice for both novice and experienced cryptocurrency users.

How do I Transfer Bitcoins to My Ledger Wallet?

• Finish the setup for the Nano X
• Connect your Ledger and choose the Bitcoin App
• Open Ledger Live
• Choose your Bitcoin account
• Click on ״receive” – you will see your Bitcoin  address

You can send Bitcoins to this address at any time, you don’t need for the Ledger wallet to be connected to your computer or anything like that.