If you think about possessing digital currencies, you will need a hardware wallet. A crypto wallet will store money as you do with your pocket wallet. The device uses a secure element to resist physical attacks and improve security. When you need it, it’s easily accessible while remaining safe from hackers. The Ledger Nano X is a wallet that, in terms of simplicity and security, does an excellent job of balancing both.
Digital currency is not physical like the money we purchase goods in physical stores. When you purchase a cryptocurrency, you are also purchasing a public and private key pair that will both be generated cryptographically on the blockchain.
Ledger Nano X was released in 2019 and is among the fresh hardware wallets in the Crypto and Bitcoin markets. It borrowed ideas from the Nano S hardware wallet to create an improved version. This is the hardware to utilize if you want to secure your Bitcoin safely offline. This Ledger Nano X review will cover all you need to know about Ledger’s top-of-the-line product.
Ledger Nano X supports over 1300 crypto assets and tokens
The hardware has private keys stored in the wallet chip
Support 100 applications
It is Bluetooth enabled
It supports most desktop and mobile OS
The device is relatively new, so it may have some bugs
It is expensive compared to similar devices in the market
It is limited to 100 applications
The Bluetooth feature is only compatible with mobile apps and fails to connect with the desktop
Ledger Nano X doesn’t support the purchasing of any tokens
Unique Features of Ledger Nano X
The Nano X features Bluetooth connectivity, and a rechargeable battery, making it one of the market’s most user-friendly and convenient hardware wallets. The setup is straightforward and smooth. Nobody wants to deal with hardware that is hard to operate or understand. Ledger Nano X also supports over 1300 different cryptocurrencies, so you can be sure that your favorite coins are supported.
Regarding security, the Ledger Nano X features a built-in secure element chip that stores your private keys in a secure environment. The wallet also features a backup and restore feature, so you can always recover your funds if your device is lost or stolen.
The vast storage space for up to 100 applications enables you to retain most of your crypto assets on one device. Overall, the ledger nano x is an excellent option for those looking for a secure and user-friendly hardware wallet for their cryptocurrency holdings. What operating system does Nano X support? The hardware supports 64-bit desktop operating systems Windows 8 and up, macOS 10.8 and up, and Linux. It also works with phones running iOS 9 and higher as well as Android 7 and higher through Bluetooth connection. Every communication from the Ledger Nano X is sent through its exclusive Ledger Live software.
The Ledger website states that the Ledger Nano X currently supports more than 1,300 coins and that this figure is always rising. Additionally, Nano X assists any ERC20 willing to be made available on the Nano hardware wallets. It supports cryptocurrencies like.
What’s in the Box
Nano X is commonly supplied in a small cellophane-wrapped box. Ledger company doesn’t use tamper-evident seals on its packaging. This is because the box is simple to counterfeit, which may be misleading. Inside the box, you will find the Nano X device. There is also a USB A to USB C. For the documents, you will find a getting started pamphlet, three recovery sheets, and various stickers bearing the Ledger logo.
Before opening the box when your gadget is delivered, be sure it doesn’t appear to have been tampered with. It is advisable to download Ledger Live before the configuration process. It is commonly used for verifying addresses and authorizing transactions.
Start by turning your device on. Press the left and right buttons simultaneously until you reach “set up as a new device.” Choose your pin, and then l select a pin code by changing the digits with the left and right buttons. For confirmation of the pin, press both buttons. Your pin code can be any length between 4 and 8 digits.
You must write your 24-word recovery phrase down. Ledger devices come with practical cards to record them on, so retype each word in your recovery phrase to confirm it. Ensure you are putting the write; otherwise, you will have to repeat the process after two failed attempts. The dashboard statement will appear on your screen if you have done everything correctly. The recovery phrase, also known as word seed, will help you access and control all of your crypto assets.
Your whole cryptocurrency portfolio is kept on the blockchain. This means anybody with your word seed can access your crypto assets that correspond with it.
Warning: Avoid taking a snap of the word seed, entering it in a computer or mobile device, and never entering the word seed into any device linked to the internet. As long as you have the word seed, you can regain access to all of your crypto assets if your Ledger Nano S is destroyed, lost, stolen, or reset.
Download and install Ledger Live
The Ledger Live is the official desktop application for the Ledger corporation and serves as an interface for the Ledger Nano S hardware wallet. The Ledger Live application will guide you through setting up your Ledger device and configuring the app. Your accounts and settings are saved in Ledger Live on your computer or mobile device. Any extra computers or phones you use will require you to re-set up your accounts.
Create new accounts and set up a new device to produce fresh private keys.
Use your (24-word) recovery phrase to restore your device by selecting the option Restore device from the recovery phrase.
Sync your gadget.
Click Continue on Ledger Live after your Ledger hardware wallet is ready.
Complete the security checklist. This will ensure you receive the highest level of security.
Once you notice Your device is authentic, click Continue.
Set password (optional).
Bug and report analytics. Ledger will require some mandatory technical data. In addition to that, you can decide which anonymous data to share with Ledger, which it collects automatically. You can opt-out at any time from sharing anonymous information.
Whether it is iOS, Android Mac, Windows, or Linux installation, the guidelines are available on the Ledger website. What does the Ledger live interface look like? The Ledger Live user interface is made up of four primary components.
The application controls involve,
Network status. It will show how well your newly added crypto assets are synchronized with blockchain networks. If not synchronized, click to force the process.
Information center. It keeps you updated with the most recent Ledger news and service developments.
Toggle discreet mode. Help you hide your balance.
The menu helps you navigate to the main sections, like,
Portfolio. Shows a summary of your account.
Buy/sell. It helps in buying and selling crypto. Ensure you know how to buy and sell crypto before jumping into the idea.
Accounts. Help in managing your account.
Swap. Help in swapping your crypto assets.
Lend. You can earn interest by lending assets using the Compound protocol directly from your Ledger account.
Discover. Visit the web3 apps’ catalog right from Live to discover new things.
Send. It helps you send crypto anytime.
My Ledger. Help in managing your ledger device.
If you have favorite accounts, you can manage them through the starred account option. How do you go about it?
Open Ledger Live and select Accounts.
Click on its star icon to add your favorite account.
The main viewer helps you interact with Ledger Live’s primary components. The following sections are displayed in Portfolio’s main viewer,
Portfolio balance. This includes a summary of your balance. This involves the overall amount, counter value, and changes during the chosen period.
Asset location. This involves a summary of your asset allocation. The allocation includes the amount of counter value and the percentage allotted to each asset.
Latest operations. Your most recent operations will be shown here.
Prior to using your device, Ledger advises updating the firmware. When Ledger Live is operational, you can turn on the Ledger Nano X device by pressing and holding the left button. From there, you can go through the starting panels to customize the device. Even though the Nano X is heavier than the Nano S, it is still a little gadget. This makes it hard to navigate, given that only two buttons exist.
After confirming everything is working, you can start installing apps. You should install the Ledger Nano S apps that are compatible with the currencies or tokens you want to store on it. Commonly most investors have majored in Bitcoin, followed by Ethereum. So, you will need a Bitcoin app if you plan on using these coins: Bitcoin Cash, Bitcoin Gold, Bitcoin Private, Bitcoin testnet, Dash, etc. You can install various apps with Ledger Nano X supporting more than 1300 crypto assets. The steps appear automatically after each step is completed.
You can do an additional recovery check to ensure you accurately copied the word seed. The process can be tedious, but ensuring your assets are safe is worth it. You should use only the two buttons to select each letter of the entire word seed. The recovery check may be found in the app catalog and all the apps for the different coins and tokens. Follow the steps generated by Nano X to carry out the recovery process.
Setting up accounts
You will need to set up at least one account for each crypto asset you use with Ledger Live. Make sure you are signed in and connected to Ledger Live before setting up an account. You can set up several accounts and name them according to your preference. A good example is setting up a different account for saving or spending. You are now prepared to set up accounts and send and receive transactions after installing and setting up accounts.
Receive Digital Assets
You should create a receive address in the Ledger Live app to receive cryptocurrency on accounts handled by your Ledger device. When everything is set up, you can move your crypto assets to your Ledger Nano X. It is advisable to transfer a small portion of the assets before depositing big amounts. This is to see if you thoroughly understand all the procedures. Click the Receive icon on the Ledger live. Pick the account you want to transfer your assets now.
Select the cryptocurrency asset you are receiving, then click Verify. The public address will, after that, be shown on the screen. Make sure the address displayed on your Nano X Screen corresponds to the Ledger Live address. You can opt for an external wallet if Ledger Live does not support an asset. Using the wrong network exposes you to misinformation about your crypto assets.
If the details don’t correspond, you will receive a rejection notification. If everything is fine, approve the address on your device. Go ahead and copy the address and give it to the transaction sender. Double-check the address to be sure it has not changed. Once you have accepted a transaction or validated an address, you can safely disconnect your hardware wallet.
Cryptocurrency assets are transferred to the address created by your device via their blockchain network. This means nothing is transported physically. If you are operating with BTC, you will notice the receiving address keeps on changing. Bitcoin-based blockchains are open networks. The IP of those digital assets should not be used again for the sake of privacy.
Ledger Nano X uses two chips: 1 Secure Element and 1 MCU chip (STM32WB55) (ST33). The Secure Element chip secures your 24-word recovery phrase, private keys, and PIN code. Secure Element chips are quite resistant to numerous physical threats; that’s why Ledger company adopted it.
The MCU chip handles no sensitive data. It only links the Secure Element and your computer or smartphone interface. The MCU chip cannot access all your private information in the Secure Element chip. A specific parameter is left unlocked on the MCU chip, or the knowledgeable personnel checks the code running it. This setting is known as JTAG/SWD debugging. The setting is only turned on when you want to install an app, and it becomes locked after installing it on your Ledger Nano X. The debug feature is activated by default.
So far, Ledger has not fully trusted the use of MCU chips for security purposes, which is why it can’t access your data. If someone has your physical address on your device, they can take advantage of the debugging function being enabled to try and mess with your accounts. They may modify the MCU chip’s firmware so that the debugging option continues to be enabled. This cannot be done online; physical access to the device is required. The company is yet to find out whether you can lose funds through such an attack. This is because no personal data is available on the chip.
Only get your Nano X from Ledger directly. Any other source can be susceptible. Although there appears to be a legitimate Ledger shop selling the Nano X on Amazon, make Ledger your priority. The Ledger Nano X is priced at $149, including free shipping to almost every country.
Ledger has developed an online test that helps in knowing whether the sticker on their device is genuine. The test is known as the Root of Trust. There are private and public keys for every ledger. Nano sends the public key to the ledger server, which responds to the challenge with a number chosen at random. If your device provides a valid signature, it is recognized as authentic; otherwise, it is blocked.
Ledger Nano X vs. Ledger Nano S
Crypto hardware wallets Nano S and Nano X provide cold, offline storage. The Nano X is better if you have a variety of crypto holdings, while the Nano S will suit you if you want to invest in a small quantity of cryptocurrency. You should note that Nano X is not a replacement for Nano S. Each hardware wallet has unique features. The Ledger Nano X is almost twice as big and more than twice as hefty as the Ledger Nano S, measuring 72mm x 18.6mm x 11.75mm and weighing 34g. Nano S weighs 21 g. Why is it heavier and larger?
Built-in 100mAH battery. You can use it on the go, unlike its predecessor, which required a USB cable to be connected.
Increased memory and a bigger OLED screen
The Ledger Nano X also supports almost all crypto assets supported by the Ledger Nano S. Due to its larger internal capacity, it can hold more relevant wallet apps at once, which makes it cost twice as much as Nano S. This makes the Nano X hardware wallet preferred for safeguarding various portfolios. If you are planning to store any recently launched crypto assets, you will have to wait until they are incorporated into the Nano X system.
The larger screen and controls make for a noticeably less challenging user experience than the Ledger Nano S. User experience matters in all software and hardware a developer makes. Even if the device might be expensive compared to other hardware wallet clients will always go for one with great user experience. Navigating the device’s menu involves scrolling left or right using the left and right buttons, respectively, or selecting options by pressing both buttons simultaneously.
Due to the larger screen on the Ledger Nano X, crypto addresses are displayed wholly without having to scroll. This was one of the common complaints about the Nano S. However; Nano X comes with a shorter cable that can pose challenges if you want to use your computer. Nano S is not compatible with iPhones, while the Nano X is compatible with desktop, Android, and iOS devices.
Both hardware wallets accept Credit cards, PayPal, Bitcoin, Cryptocurrency as payment methods. Nano S has no Bluetooth function, and users from all countries can purchase Ledger devices. No earning interest is gained by purchasing or using the Ledger devices. Both devices support the 24-phrase backup method.
The goal of the ledger hardware is to ensure that your crypto assets are secure and not limit yourself from different cryptocurrencies. Ensure that you read all the instructions to get your hardware waller going. Ledger company partners with renowned developers to bring you the easiest and most secure wallet for your business. Cyber attacks have been on the rise calling for all crypto investors to adopt secure methods to safeguard their crypto assets.
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