Earlier this year in April, Ledger, the cryptocurrency cold storage wallet company, released the latest model of their hardware wallet called the Ledger Nano X. There have since been contemplations in the crypto community surrounding whether it is worth buying because it comes at a price of $119 without VAT. For that reason, this article will highlight some of the features of Nano X, showing the benefits and why you need to get it.
What’s In The Box?
First, we have to tell you what’s inside the box when you order from Ledger.
Note: do not buy your Ledger Nano X or any other Ledger hardware wallet or any hardware wallet at all from eBay, Amazon, or anywhere else. You should only buy from the official website of Ledger which is ledger.com, to avoid buying an already bugged hardware wallet.
When you buy the Ledger Nano X, you will get
- One Ledger Nano X
- One USB-C cable
- The device Keychain
- Three recovery seed cards
- A set of instructions
- Ledger stickers
Nano X Improved Features, What’s New?
If you use the Nano S or any previous Ledger hardware wallet, you can only control it while using the ledger desktop app, known as Ledger Live. Now, with Nano X, there’s a smartphone app you can use for that, it is called Ledger Live mobile app. Another thing you will definitely like about Nano X over Nano S is the processing speed when using it. Nano X is not only incredibly fast when using, but also seamless, so it doesn’t lag like the way Nano S does.
- Stores Up To 100 Assets
While both Nano X and Nano S support more than 1100 coins, only Nano X can store up to 100 assets at once. This is a significant upgrade from the previous wallet, the Nano S, that can only store up to three assets at once.
BTC, BCH, BTG, ETH, ETC, XLM, XRP, LTC, DOGE, ZEX, DASH are the top supported coins, and they can be accessed, that is sent or received using the Ledger Live app interface. The other coins which are mainly ERC-20 tokens mostly used for ICOs such as DAI, USDC and TUSD require third-party apps, so you will have to install either MyCryptoWallet or MyEtherWallet.
- Improved Verification Process
Compared to previous Ledger wallets, Nano X has a bigger screen, although the device is still the size of a flash drive. The bigger screen will let you see the full wallet address of the coin you’re trying to do a transaction with, so that makes the verification process better. Of course, you still have to confirm transactions on the Nano X device itself even though it has Bluetooth support. This prevents a situation where your phone or PC is hacked and someone tries to steal your crypto coins. They won’t be able to confirm the transaction because of the 4 – 8 digit pin you choose when you’re setting up your Nano X device, which is why you must choose a secure pin and never tell anyone your pin.
Why Buy Ledger Nano X?
To answer this question, we will first talk about why you need to use cold storage means to store your cryptocurrencies. Cold storage means of storing crypto coins means that you keep your crypto coins in a wallet that is not connected to the internet. It means you’re not storing your assets on the cloud, unlike when you save your Bitcoin, Ethereum, or any other crypto coin on wallets provided Coinbase or Blockchain, you are using hot storage wallet. You will need the internet to access your cryptocurrency and in a way that makes your wallet vulnerable to hackers. Any wallet that requires the internet to be accessible is a hot storage wallet. On the other hand, when you make use of cold storage wallet, which is also known as a hardware wallet, you’re storing your cryptocurrency on the particular hardware and not on the internet. So, that gives it better security.
Everyone who has cryptocurrencies needs to keep them safely in a hardware wallet. Ledger released their first hardware wallet in 2014 and since then there has not been any report of a case of a hack. Therefore, the safety of your assets is guaranteed if you use Ledger Nano X.
- Nano X vs Nano S
In comparison to Nano S, we can see that it is by far better although that also makes more expensive – Nano S costs $59 without VAT. However, it is the best hardware wallet for professional crypto traders who sometimes need to do transactions with multiple crypto coins at the same time. It is fast, and easy to access, it is also easy to use when you get familiar with it. Although many people think that UI/UX needs to be a bit better. Ledger has promised to keep supporting Nano S, so that means it can be used as storage wallet, unlike Nano X that is better for on-the-go transactions. Not to mention that Nano S still remains beginners’ favourite hardware wallet because of its price.
- Ledger Nano X vs Trezor Model T
Ledger Nano X offers a complete improvement over all other Ledger hardware wallets. In fact, some believe that it is better than the Trezor Model T, which costs $165 without VAT, making it more expensive than the Ledger Nano X.
Another advantage Ledger Nano X has over the Trezor Model T is its Bluetooth support. Our favourite reason for choosing Ledger Nano X over Trezor Model T is not only because it is cheaper, but also because Ledger supports more decentralized coins quicker than Trezor. Ledger adds new tokens and coins every month, which makes it the only hardware wallet with such massive support for cryptocurrencies.
As we said earlier, don’t buy your Ledger Nano X from unauthorized third-party sellers, it is not safe. You should buy directly from Ledger – Ledger also offer free shipping worldwide. Your Ledger Nano X comes with the following features:
- Bigger OLED screen
- Faster processing
- Bluetooth support
- Stores up to 100 assets
- Supports IOS, Android and Desktop
- Compatible with iOS 9 upward and Android 5 upward, and Mac OS, Windows 8 upward and Linux 10.8 upward