- 64-bit desktop computer (Windows 8+, macOS 10.8+, Linux)
- Smartphones (iOS 9+, Android 5+)
finder.com’s rating: 4.57 / 5.0
Check out our full list of pros and cons or read on for our full review.
At the time of writing (January 2019), the Ledger Nano X supports more than 1,000 cryptocurrencies via its integration with compatible software apps.
When it arrives, your new wallet will include the following:
To set up your Ledger Nano X, you will need to connect it to either a computer or a smartphone via USB or Bluetooth.
To set it up through a computer, you will need to download the Ledger Live program. To set it up through your phone, you will need to download the Ledger app, which will be released on January 28. You may be able to import existing Ledger accounts and wallet details to your new device.
You will get step-by-step prompts on your devices during installation, and the steps may vary depending on whether you’re importing an existing Ledger account of private keys to a new device or creating an entirely new account. Regardless of which one you are doing, the process will generally involve the following:
The Ledger Nano X, like other hardware wallets, is a way of securely holding private keys so that you don’t need to expose them to the potentially dangerous environment of the Internet when making transactions.
Instead, it securely holds the keys offline and provides them on a per-transaction basis. When you want to make a transaction, you will need to physically push buttons on the device to approve the transaction. This means it’s impossible to remotely steal your cryptocurrency when you hold the keys to your crypto solely on a hardware wallet.
To use it for transactions, you’ll need to pair it with a desktop or mobile “soft” wallet of your choice. Note that not all wallets are compatible with the Ledger Nano X, and different cryptocurrencies will have different compatibility options.
You can purchase the Ledger Nano X on its official site.
Buying a secondhand hardware wallet or purchasing one from an unauthorized reseller is not recommended and exposes you to the risk of hacking and the theft of your funds.
At the time of writing, the Ledger Nano X is available for $119.
The following features are the primary differences between the older Ledger Nano S and the newer Ledger Nano X:
The Ledger Nano X is also slightly larger than the Ledger Nano S. Here’s a quick breakdown of its size and weight in comparison:
|Ledger Nano X||Ledger Nano S|
|Dimensions||72mm x 18.6mm x 11.75mm||56.95mm x 17.4mm x 9.1mm|
Even though it has new features, the Ledge Nano X may still not be the preferred option for every situation. According to Ledger, the Ledger Nano S will continue retailing at a lower price, which might make it a more cost-effective backup device or alternative hardware wallet.
As a hardware wallet, the Ledger Nano X offers a higher level of security than software wallets alone. This is because they introduce a physical security element to the process of making cryptocurrency transactions, which will protect users from a wide range of potential attacks.
The Ledger company is one of the most highly-regarded companies in the cryptocurrency world, and its products have a long track record of effective security.
Contrary to popular opinion, the addition of Bluetooth is not a significant security risk since your private keys never leave the secure element of the hardware wallet.
Essentially, the Bluetooth connection lets your phone app visit the wallet to complete a transaction rather than bringing your private keys to your phone. It’s still just as secure as the Ledger Nano S.
Plus, the Bluetooth connection is end-to-end encrypted for your privacy, and even in the unlikely event of someone hacking into the Bluetooth communications between your phone and your hardware wallet, they would still need your Ledger PIN and physical access to the wallet to actually steal your funds.
For security, it’s important to make sure you keep your backup phrase safe from damage and safe from view. You can use it to back up and restore access to your crypto if anything happens to your hardware wallet, but it will also let others access the funds on your device if it falls into the wrong hands.
As mentioned, it’s essential that your backup phrase is kept safe. The best way to do this depends on your situation and the steps you’re prepared to take, but one popular option is to use a recovery seed backup.
There are several brands of backup available, such as the Cryptotag (pictured).
These kinds of devices let you personally stamp or otherwise record your seed backup phrase in metal — without entrusting the task to a third party.
The reason it’s safer to record it in metal is because it’s more durable. It can survive fire, flooding and other hazards such as general fading or moisture where simple pen and paper wouldn’t.
Importantly, it’s also much harder to lose or misplace a solid piece of steel or titanium than a scrap of paper.
Ledger released its first hardware wallet in 2014 during a massive boom when hardware wallets and bitcoin storage systems first started hitting the market in a big way.
It quickly rose to become one of the most popular hardware wallets around, and then two years later, it cemented its reputation as one of the top manufacturers in the area with the extremely popular Ledger Nano S, which the company released in 2016.
Now, the Ledger Nano X is the long-awaited update to the Nano S, bringing mobile functionality, additional storage, a larger screen and other features to one of the most popular hardware wallets around.
At the time of writing (January 2019), the Ledger Nano X is slated to be one of only two hardware wallets in existence that uses Bluetooth to connect to mobile devices (the other is the CoolWallet S). It’s extremely difficult to build hardware wallets with extensive Bluetooth compatibility, but it gives you a much wider range of compatible smartphones.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate cryptocurrency hardware wallets by scoring each wallet out of 10 for 3 components: security, functionality and cost. Each component is weighted based on importance, as follows:
These scores are aggregated and visualised as a total score out of 5 stars.
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