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The Ledger Nano X is a great way for someone with a large number of tokens and other holdings to secure their cryptocurrency. This hardware wallet lets you grow and manage your cryptocurrency while keeping it secured on the wallet.
AT A GLANCE
- Buy, exchange, and grow your crypto
- Mobile friendly
- All your digital assets in one place
- Connect to other services
Best Crypto Wallet
Pros & Cons
There is a wide range of crypto hardware wallets out there. Each one has its pros and cons, and the Ledger Nano X is no exception.
Hardware wallets are one of the main ways that a cryptocurrency holder can secure their holdings. However, with the growing number of manufacturers, it’s hard to know which one is the best.
As the most popular manufacturer, Ledger offers their Ledger Nano X model hardware wallet to those looking to hold and manage a large number of crypto assets.
In this Ledger Nano X review, we’ll take a look at how this wallet manages to be both a security device and management ecosystem all in one package.
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About Ledger Nano X
The Ledger Nano X is a cryptocurrency hardware wallet that helps you secure a wide range of crypto assets, including coins, tokens, and NFTs.
Thanks to a wide range of third-party integrations and the Ledger Live ecosystem, the Ledger Nano X has a wide range of functionality beyond the standard features of a hardware wallet.
Now it’s time to talk about the main features of the hardware wallet in this Ledger Nano review. The main feature of any hardware wallet is the ability to secure your cryptocurrency.
Hardware wallets do this by being able to disconnect from the Internet, and thus the blockchain. When a transaction comes in asking for coins from the disconnected wallet, the blockchain eventually fails the transaction since the wallet address can’t be reached.
However, the Ledger Nano X offers more than just the usual security in this regard. When Ledger manufactures a wallet, they never pre-install an application or use the wallet before packaging.
This practice keeps the wallet from having any seed phrases associated with it before the customer opens the package, reducing the chance of a security fault.
Normally, a hardware wallet has to be plugged into an Internet-enabled device to work. The Ledger Nano X also has an optional Bluetooth connectivity feature that lets you use the wallet with approved devices, helping to cut back on cables when you use your crypto.
The Bluetooth connectivity makes this hardware wallet the perfect choice for folks that do most of their cryptocurrency management on mobile devices.
Not all of these devices can accept a USB-C cable, making the Bluetooth connection a nice backup plan. To keep the connection secure via Bluetooth, Ledger programs their crypto wallets to require a PIN to use the wallet.
This feature prevents someone else from grabbing the wallet instead and using your funds. But, the Ledger Nano X is more than just a hardware wallet.
Thanks to the Ledger Live platform, users can manage their crypto assets within their Ledger wallet outside of sending or receiving funds. Millions of folks use Ledger Live to buy, sell, trade, borrow, lend, and participate in all sorts of decentralized finance (DeFi) options.
As the more expensive version of the Ledger wallets, the Ledger Nano X has a higher price tag than other models. Coming in at $149, the Ledger Nano X is more expensive than most other hardware wallets, including Ledger’s budget hardware wallet: the Nano S.
However, that initial cost is the only price you’ll have to pay. Once you buy a Ledger wallet, you don’t need to buy into any subscriptions or pay additional fees to use the wallet.
Customer service comes with the purchase of your device and the applications are all offered as part of the Ledger platform.
Who Should Use Ledger Nano X?
For someone looking to fully explore the world of DeFi securely, or if you already have a large number of crypto coins and tokens, the Ledger Nano X is perfect.
Thanks to its high-security features and wide range of integrations, the Ledger Nano X lets a crypto expert do their thing from inside the Ledger Live service.
However, this wallet isn’t for everyone. Folks that have just one or two cryptocurrencies that they prefer to hold might not get the most out of the expanded application storage for the Ledger Nano X.
Plus, the higher price point will probably feel like a stretch to those that have a small number of holdings.
Should I Use Ledger Nano X?
If you have a large amount or number of cryptocurrencies that you want to secure, a Ledger Nano X could be right for you. Having the option to manage everything from the Ledger Live application is great for those that want a hands-on approach to managing their crypto, too!
We recommend that you check out what Ledger has to offer, including the Nano X. Securing your cryptocurrency is one of the best moves you can make to ensure no malicious actors can get to your coins.
Ledger Nano X FAQ's
Here are some of the big questions we’ve seen out there for the Ledger Nano X:
While Ledger saw a personal data breach in the summer of 2020, the Ledger Nano X device is secure. The OS, as well as the PIN and seed phrase requirements to set up the wallet, meaning that the Ledger Nano X device is secure and near impossible to hack.
For crypto holders with a wide range of coins, the Ledger Nano X is a simple and secure device that will help keep your crypto safe.
The Naxo X supports over 5,500 coins and tokens and lets you use many of those cryptocurrencies with staking and DeFi, all while keeping them safe.
While the Nano X can’t be hacked, Ledger saw a data breach in 2020 that resulted in 272,000 customers having their personal data leaked.
One million email addresses were also released from this incident. All of these customers saw their crypto untouched, but some received threats or extortion due to contact info becoming released by the 2020 incident.
Ledger does a great job of making their devices easy to use no matter what your experience with cryptocurrency is. However, for those that just started their crypto journey, the Nano X may not be the right choice given the price tag.
With support for over 5,500 coins and tokens and the ability to install up to 100 applications on the device, you can store a large amount of crypto on a Ledger Nano X.
The Ledger Nano X does use any storage space on your crypto as all the coins and tokens are stored on the blockchain’s ledger.
Compare to Other Wallets
Ledger Nano X
Secure, buy, exchange, grow your crypto and manage your NFTs with our new Bluetooth-enabled hardware wallet. All your digital assets secured in one place.