Ledger Nano X Review 2021
- 1 First Impression
- 2 Setting up the Ledger Nano X
- 3 Ledger Nano X Handling
- 4 Supported cryptocurrencies and devices
- 5 Documentation and Support
- 6 Safety aspects of the Ledger Nano X
The hardware wallet Ledger Nano X is the latest hardware wallet from Ledger. It was officially announced in early 2019 and can now be ordered for 119,00 € (click here to check the current price) here. Ledger Nano X ensures the secure storage of the private keys that give you access to the crypto assets.
Compared to the previous model Nano S, this now has Bluetooth and a built-in battery for mobile use via smartphone. There is also more space for apps. Everything you need to know about the Ledger Nano X can be found in the following review.
Buying the Ledger Nano X online
Hardware wallets are rarely available at local shops, which is why ordering via the internet is common. Ledger sells its hardware wallets itself through its own online shop. In addition to the hardware wallets, there are also accessories to buy there. The Ledger Nano X currently costs 119,00 € (click here to check the current price) there. The advantages of the Ledger Shop include free shipping, 14-day easy return, more than 15 secure payment methods, multilingual customer support with crypto experts and the security that you will receive an original device.
Of course, you can also order the device through one of the many official resellers. There are resellers all over the world.
Hardware Wallets should preferably be ordered directly from the manufacturer or official resellers if possible. Dubious stores or private sellers on platforms like ebay or amazon could manipulate the devices for their own purposes or trick the buyer. This way, the thieves can steal all the coins from your hardware wallet at a later time. Unfortunately there have been cases like this in the past.
What’s in the box?
The Ledger Nano X comes in a small 8x13x3cm box, which contains the hardware wallet, a keychain strap and a USB C cable for charging or connecting to the PC. There is also a multilingual fast start guide, three so-called recovery sheets for the backup of the hardware wallet and stickers.
Ledger Nano X
As with the Ledger Nano S the hardware wallet can be opened again by rotating the brushed stainless steel cover. Underneath, the technology hides in a plastic case. If you want, you can also remove the stainless steel cover completely by easy bending.
What is directly noticeable is that the Ledger Nano X is slightly larger and heavier than the Ledger Nano S This is due to the internal 100mAh battery, which is now additionally installed for mobile use via Bluetooth. But also the OLED display is a bit bigger. The buttons have been moved from the top to the front: A black button on the left, and a silver button on the right. On the right side there is also an eyelet for the keychain strap and on the left side a USB-C port.
Setting up the Ledger Nano X
Never use a hardware wallet that is already set up. You must choose your own PIN code or password and do the backup yourself. This is not given by anyone!
The setup of the Ledger Nano X has become much easier. First, turn on the hardware wallte by pressing the left button for 3 seconds. An English welcome message appears on display. You will then be prompted to download the associated Ledger Live software.
Ledger Live is compatible with Windows/Mac/Linux computers as well as iOS/Android smartphones and supports setup and will later be used to manage most crypto currencies. To install the corresponding device, visit the page www.ledger.com/start, download and install the software Ledger Live and continue following the instructions on the hardware wallet . Now the operation of the buttons is explained:
- Click left or right to scroll through menus or list
- Press both buttons briefly at the same time to select an item
- press both buttons simultaneously for a long time to reach the control center
Finally, you are asked to open the Ledger Live application for more information. In principle, the setup is also possible without the application, but the additional hints supported the setup.
The application now takes you through the entire setup process, which consists of a total of 7 steps.
The first thing to choose is whether you want to set up the device as a new device or already have a backup of another wallet you want to import. The latter is conceivable, for example, if you want to switch from Ledger Nano S any other hardware wallet to the Ledger Nano X. In this case, you enter your existing backup hardware wallet and the management of the existing cryptocurrencies is possible via the new hardware wallet .
Then a PIN code is selected. This can be 4 to 8 digits long and is typed in directly via the two buttons on the hardware wallet. For optimal safety, Ledger recommends using all 8 places. This PIN code is queried every time the hardware wallet is started in order to avoid unwanted access.
The recovery phrase is then displayed. This consists of 24 words and is the only backup of the hardware wallet and must be carefully stored.
Your Recovery Seed is the backup key to all your cryptocurrencies and applications. The Recovery Seed (backup) can only be viewed once. Never make a digital copy of the Recovery Seed and never upload it online. Keep the Recovery Seed in a safe place, ideally also safe from fire and water. Special backup products, for example Cryptosteel Capsule or Billfodl are suitable for this.
No one but yourself can be held liable for any financial losses caused by improper handling of sensitive data.
Each word must then be selected from a list and confirmed. This process can be a bit tedious, but this is the only way to ensure that the backup has been correctly written down.
The device is now ready for use and the PIN code can be entered to unlock the device. Ledger Live asks some security questions to verify that the setup process has been done correctly. Then the Ledger Nano X can be connected to the corresponding device. With a computer, it is enough to use the USB cable. For mobile devices, the Bluetooth connection must first be set up. For this purpose, a code is displayed on both devices, which is confirmed in each case if it is agreed.
When you play this YouTube video, data is transmitted to Google.
If you want, you can now rename the device to keep several hardware wallets separate and protect the Ledger Live software with a password so that nobody can see the current account balance. Depending on the smartphone support, facial recognition or a fingerprint sensor can also be used here.
Ledger Nano X Handling
Once the Ledger Nano X is set up, you can play on the hardware wallet via Ledger Live apps. These are necessary to manage appropriate cryptocurrencies . To do this, you use the manager who is integrated into the Ledger Live software.
The Control Center
The Ledger Nano X Control Center can be reached at any time by holding both buttons down for several seconds. Here you get information about the state of charge of the battery, you can turn off the device or change settings. These include, for example:
- Turn off Bluetooth
- Increase or decrease time of automatic switching off
- Change device name
- Reset Bluetooth connections or the entire device
- Set up additional passphrase for increased security
Use Ledger Nano X on the go
The Ledger Nano X is bluetooth-capable and mobile thanks to the built-in battery. The hardware wallet is connected to the smartphone and then managed through the Ledger Live mobile app. With the app, it’s possible to display the real-time balance of all the crypto assets no matter where you are, either with a computer or smartphone (via Bluetooth), even if the device is not connected right now.
The app also has a simple, step-by-step process that helps you easily manage transactions while keeping an eye on the cryptocurrencies at all times.
Supported cryptocurrencies and devices
As already mentioned, the Ledger Nano X is compatible with all common operating systems, whether mobile or on a desktop computer:
- Chrome OS
The Ledger Nano X can store up to 100 applications at a time, including Bitcoin, Ethereum, XRP and many more. That’s another advance from the Ledger Nano S model. As a result, it is possible to manage all assets on the same device and at the same time, the storage will no longer run out. Currently, the following cryptocurrencies are supported:
- Bitcoin Cash
- Ethereum Classic
- ERC-20 Tokens
- Bitcoin Gold
- Bitcoin Private
- FIC Network
- POA network
Here at Inivty you can see all Bitcoin and Altcoin prices from many exchanges in real time, compare rates and buy instantly. You can then easily send the purchased cryptocurrencies to your hardware wallet: compare prices here.
All more than 1000 supported cryptocurrencies can be found here: Ledger Nano X cryptocurrencies. It should be noted that not all cryptocurrencies can be managed with Ledger Live. For many coins, you need third-party software that offers the functionality for this coin. As a result, the crypto assets are just as optimally protected, only another software is necessary. If and which extra software you need for a cryptocurrency can also be found here in the Ledger Nano X cryptocurrencies list.
In addition to cryptocurrencies, the Ledger Nano X is also integrated into other services and applications. Some of them are these:
- SSH Agent
- Password Generator
Documentation and Support
Ledger offers an extensive support area. This includes help articles for all of Ledger’s devices, software and apps. A status page also shows whether services are currently unreachable. The support helps with special questions in writing on weekdays. It consists of 10 crypto experts and offers multilingual support. Phone support does not yet exist and the waiting time can be a few days.
Safety aspects of the Ledger Nano X
Like Ledger’s other hardware wallets, the Ledger Nano X offers state-of-the-art security: the private keys are securely isolated inside the device’s certified security element (CC EAL5+), the same chip used in high-security applications such as credit cards and passports.
The bluetooth connection is only used as a transport layer for public information and therefore does not represent a point of attack. The secret keys or seed never leave the secure element. Even if the bluetooth connection is hacked, the security of the Ledger Nano X relies on the secure element, which will seek approval for any action. In addition, Bluetooth can be deactivated at any time in the settings, so that only use via cable is possible.
The hardware wallet is protected by a PIN code by unauthorized access. Ledger Live can also be secured with a password.
CES-the world’s largest annual technology fair-honours products that stand out from others. The CES Innovation Honoree Awards are presented to products or technologies that are above a certain standard in this category. In 2018, this award was only awarded to 31 products, while there had been over 4400 exhibitions at CES this year.
Ledger has received the hardware wallet CES Innovation Honoree Award in the Cybersecurity and Personal Privacy product category for its Hardware Wallet, underscoring the innovative power it brings to the hardware wallet market. It combines the security of secure elements and the custom operating system with the ease of use and flexibility that bluetooth and more storage space provides.
FAQ 27Ask your own question
The private keys never leave the secure chip, so Bluetooth communication does not expose the Ledger Nano X to any additional security threat. The connection is continuously encrypted to protect the privacy of users. In the unlikely event that the transport is compromised, an attacker would never be able to extract private keys or get users to sign a transaction that they do not want to sign.
Ledger Live, the companion application for a ledger device, was released on the phone on January 28, 2019. With the Ledger Live app for mobile phones, users can seamlessly manage their Ledger Nano X and the cryptographed for them, no matter where they are located. Ledger Live Mobile requires smartphones with at least iOS 9 or Android 7.
That is not a problem. You can restore your accounts to a new hardware wallet using the recovery key you wrote down when you set it up.
Those who already own a Ledger Nano S and want to upgrade to the successor Ledger Nano X can do so without any problems. There are two ways to go about this.
Transfer cryptocurrencies to the Ledger Nano X
One option is to set up the Ledger Nano X like a new hardware wallet. This gives you a completely new wallet with new private and public keys. Now you can start transferring coins from the old Nano S to the new Ledger Nano X hardware wallet. To do this, create a new account on the Nano X for the corresponding cryptocurrency and generate a receiving address. Save them temporarily and switch to the Nano S. There, open the account of the same cryptocurrency and send it to the cached address. Once the old Ledger Nano S is “emptied”, you can reset it to factory settings and sell/give it away or dispose of it.
The advantage is that with the Nano X a new setup is carried out and you are in possession of a new recovery seed. This increases safety. The disadvantage is that transferring the coins from the Nano S to the new addresses of the Nano X incurs fees.
Transfer existing wallet of the Nano S to the Nano X
To avoid the fees you can transfer the already existing Recovery Seed of the Nano S to the Nano X instead. When setting up the Nano X, simply indicate at the appropriate point that you already have a Recovery Seed. You can then import this and have access via the Nano X to all existing accounts set up via the Nano S.
You can even continue to use the Nano S in parallel. In this case, both hardware wallets can be used interchangeably with Ledger Live. For example, you then take the Ledger Nano S for use at home or as a backup device safely stowed and the Nano X for on the go. Both then operate the same wallet.
The Ledger Live application can be used with multiple ledger devices. If the different devices have the same recovery seed, they can be used easily interchangeable. If the devices have different seeds, the appropriate hardware wallet must always be connected in order to be able to make transactions with the account.
Bitcoin SV (Bitcoin Satoshi Vision, or BSV) is a cryptocurrency formed on November 15, 2018 by a hard fork from Bitcoin Cash. Bitcoin Satoshi Vision is the fourth largest cryptocurrency and has thus overtaken Bitcoin Cash (Source: Wikipedia).
Users who have secured their Bitcoin cash before the hard fork with a ledger hardware wallet automatically own the same amount of BSV as BCH.
BSV is not supported in Ledger Live. Instead, users can manage their BSV using the Bitcoin Cash app on their ledger device in conjunction with Electrum SV, as described below: https://electrumsv.io/.
If you buy cryptocurrencies through Coinbase and store them there, Coinbase is in possession of your private keys and could theoretically disappear with your cryptocurrencies at any time.
Therefore, it is recommended not to keep the coins on exchanges, but to transfer them to wallets, where one is the only one in possession of the private keys.
You should therefore consider sending the coins from your Coinbase Wallet to your Ledger Wallet. For a possible later sale, you can simply send the coins from the hardware wallet back to Coinbase.
This is how you transfer coins from Coinbase to your hardware wallet
- Generate a new address from your hardware wallet. For example, open the Ledger Live software and select the “Receive” option for the corresponding account. Copy the displayed address to your cache.
- In Coinbase, you now navigate to your portfolio page and select the appropriate wallet from which you want to send.
- In the Send dialog box, select the wallet address option because you want to send to a wallet outside of Coinbase. Copy the address of the hardware wallet to the appropriate field.
- Enter the amount of cryptocurrency you want to send into the Amount field.
- Select Next and confirm the transaction details to complete the sending. Make sure that the address matches the one copied from the hardware wallet
Install the Stellar app on the ledger device to manage Stellar (XLM) with the Stellar Account Viewer or StellarTerm. The Stellar app is developed by the Stellar community. To manage the transactions you have to use the Stellar Account Viewer, because Ledger Live does not currently support this cryptocurrency itself.
The IOTA Foundation announced on November 2, 2018 that Ledger hardware wallets now support the storage of IOTA tokens.
To do this, the IOTA app must be installed on the Ledger hardware wallet to manage MIOTA with the official Trinity wallet. The IOTA app is developed and supported by the IOTA community. How to use your ledger with the Trinity Wallet is described on their website: https://trinity.iota.org/hardware.
Ledger Nano X supports up to 100 applications installed at the same time. Compared to the Ledger Nano S it has five times more available space for applications, with the number of applications that can be installed depending on the size of the applications.
Switching off is only possible via the Control Center. To get there, you can hold down both buttons for 3 seconds at any time. Or you can navigate manually to the Control Center via the menu. There you can then choose the option “Power off”.
You can easily install Ledger Live on a new computer and link your old hardware wallet again. Ledger Live is just the interface for managing cryptocurrencies All necessary keys are on the hardware wallet itself.
Ledger Live provides the ability to change the language. The language settings of the hardware wallet itself cannot be changed. There, the menu and all settings are only available in English. The same applies to documentation and support.
Most wallets support more than just one cryptocurrency, but only generate one backup. Nevertheless, this one backup is sufficient to restore all cryptocurrencies as all private keys of the different wallets result from the seed that is backed up as a backup during setup.
Ledger hardware wallets (Ledger Nano S or Ledger Nano X) support over 100 different cryptocurrencies. Among them are all the well-known coins like Bitcoin, Ethereum or Ripple. A complete overview can be found here:Ledger supported cryptocurrencies.
In principle, as many supported coins/cryptocurrencies can be stored on the Ledger Nano S as you like. The hardware wallet only stores the private keys that ensure access to the coins. To manage the coins, the corresponding app must be installed on the device.
However, you can only install a certain number of apps at a time on the Ledger Nano S or Nano X. This is because the memory of the Ledger Nano S and Nano X is limited. However, it is not a problem to switch apps by un- and install, so the coins are not lost.
The safest option is to purchase the hardware wallet Ledger Nano X directly from the manufacturer. This reduces the risk of manipulation. It can be ordered worldwide here: Ledger Shop.
The hardware wallet Ledger Nano X is the successor to the bestseller Ledger Nano S. Both are subject to the same high security standards and are both managed with the Ledger Live software. However, the Nano X ledger can offer some improvements, including:
- more storage space for more than 100 apps instead of 3 to 20 for Ledger Nano S
- Bluetooth and battery allow use on the go
- USB-C port
Those who can do without the new features are still well advised with the Ledger Nano S A backup pack with both hardware wallets is also recommended: the Ledger Nano X for on the go and the Nano S as a backup for safe storage at home.
All the differences can be found here: Ledger Nano X vs Ledger Nano S.
Hardware Wallets such as the Ledger Nano X, TREZOR Model T, BitBox02 or KeepKey all work according to the same principle. They are a special form of a so-called wallet, which is used to manage cryptocurrencies. A hardware wallet is a physical device that securely and inisolationly generates the private keys to the cryptocurrencies. Due to the extra hardware, they have some advantages over software wallets:
- Private keys are often stored in a protected area of a microcontroller and cannot be transferred out of the device in clear text.
- Hardware wallets are immune to computer viruses that steal from software wallets.
- They can be used securely and interactively, private keys never need to come into contact with potentially vulnerable software.
- The software is in most cases open source, so that the user or professionals can validate the entire operation of the device.
However, it is important to understand that hardware wallets are an attractive target for attackers and depend on several assumptions to maintain security. They are not a miracle weapon, and there are several realistic ways to hack a hardware wallet Especially if someone has physical access to the device.
Can I restore the recovery seed of the TREZOR Model T with a newly purchased Ledger hardware wallet?
The hardware wallet TREZOR Model T generates a 12 word recovery seed in conjunction with the TREZOR Wallet. This is a generally accepted standard that is also supported by ledger hardware wallets. This allows you to use an existing recovery seed from TREZOR for all hardware wallets of ledgers such as the Ledger Nano X or the Nano S at the setup. This gives you access to all your accounts that were originally created with the TREZOR Model T via the Ledger hardware wallet
A new cryptocurrency is rarely supported directly by a hardware wallet at the beginning. However, most providers such as Ledger or TREZOR are constantly working to support new cryptocurrencies. Therefore, it is often worth waiting until the desired currency is supported by your hardware wallet.
Currently, the language of the hardware wallet menu cannot be changed. It is set to English by default.
However, you can change the language of the Ledger Live software. The current selection there is:
In late 2020, Ledger announced plans to add more languages.
No, the required software Ledger Live is only available for the following operating systems:
- Windows 8+
- macOS 10.8+
- 64-bits desktop computers excluding ARM processors.
However, the Ledger Nano X can also be used with a smartphone via app. Requires Android 7+ or iOS 9+.
Yes, you can set up multiple accounts with a hardware wallet Ledger Nano X. For each cryptocurrency, you can set up multiple sub-accounts and label them as well.
For example, you can set up an extra account for your life partner. However, it should be noted that the pin and recovery seed is the same for both and also any authorized person has full access to all accounts. If you want to have a complete separation, you should buy two hardware wallets.
I would like to give a hardware wallet as a birth gift. Do I need this every time I want to deposit coins or is there another way?
No, you don’t need the hardware wallet every time you want to make a deposit. It is only necessary to set up the hardware wallet and generate an address of the corresponding cryptocurrency.
Cryptocurrency can now be sent to this address on the desired cycle on a regular basis without the need for the hardware wallet. The address does not expire.
Setting up a Ledger hardware wallet is done in 4 simple steps.
- Download Ledger Live to begin the setup process. This is also where cryptocurrencies will later be managed.
- Select PIN code write down the recovery seed – the 24-word recovery seed is the only backup of the private key. Never give it to anyone else!
- Installing applications on the hardware wallet via Ledger Live, for example the Bitcoin application.
- Adding an account to manage cryptocurrencies.
The complete setup process for all models is clearly explained with videos here: Ledger Getting Started.
Are my cryptocurrencies stored in the hardware wallet, or where exactly are they? This is a very good question because the answer defines what your wallet actually needs to protect.
Cryptocurrencies are so named because they are secured by cryptography. For this you need a set of digital keys, for example your (very secret) private key. With this key you can encrypt and digitally sign things.
Let’s take Bitcoin as an example (other cryptocurrencies work in a similar way). The entire Bitcoin network is kept up to date by a common data structure called the blockchain. It contains records of all transactions ever made and is publicly accessible online, so anyone can read it. When you receive some bitcoins, say 0.1 BTC, you see them in your bitcoin wallet, listed under a bitcoin address.
At the same time, the bitcoins are not actually stored in the wallet, they are just an entry in the public blockchain. What the wallet stores is your secret private key that belongs to that address. Since you control that private key, you can spend those Bitcoins again: that’s how “Bitcoin ownership” is defined. Anyone can see these bitcoins, but only you can spend it, so they are yours. But that also means that *anyone* with the right private key can spend those bitcoins. Therefore, it is very important to keep this key secret.
What stops the manufacturer of your hardware from using a backdoor and simply stealing your cryptocurrencies? How much do you have to trust hardware wallet manufacturers?
While a completely “trustless” solution is probably not possible, manufacturers are doing everything they can to minimize the need to trust them.
Most of the software code of many hardware waller manufacturers is open source, i.e. publicly available. Anyone can check how the device works and how secrets are handled. Of course, not everyone has the ability to review code: that’s why independent researchers are often encouraged to analyze, and are often rewarded by bug bounty programs when they find something. This does not limit their ability to publish a full independent report without permission.
The essentials to go: A wallet manages your secret private keys and requires full access to them. You can and should demand full transparency about how a wallet works and ensure that independent public audits are encouraged.
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|Compatibility||Mycelium, MyEtherWallet, FIDO/U2F, Bitstamp, SSH Agent, Password Generator, OTP|
|Cryptocurrencies||Bitcoin, Tezos, Monero, Ethereum, Litecoin, Dogecoin, Zcash, Dash, Stratis, Ripple, Komodo, Bitcoin Cash, Ethereum Classic, ERC-20 Tokens, PoSW, ARK, Expanse, PivX, Vertcoin, Viacoin, NEO, Bitcoin Gold, Stellar, Hcash, DigiByte, Qtum, Bitcoin Private, ZenCash, Nano, Nimiq, Peercoin, Zcoin, Tron, Ontology, Hycon, Pirl, Akroma, Vechain, Icon, Stealth, Woleet, Wanchain, Kowala, Particl, Rootstock, Waves, Rise, FIC Network, EOS, POA network, IOTA, Lisk, Musicoin, Factom, Gamecredits, MIX, ethergem|
|Platform||Windows, Linux, Mac, Android, Chrome OS, iOS|
|FIDO U2F Authenticator|
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