Ledger Nano X Review: The Best Cold Wallet in July 2024?

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Top Hardware Crypto Wallet Lets You Store 5,500+ Digital Assets

Ledger Nano X is a popular cryptocurrency hardware wallet, where one can store more than 5,500 tokens. This is a good way to safeguard your digital assets, by accessing private keys. The platform supports token swaps, staking, and gives access to DApps.

While the wallet costs a hefty $149, it offers Bluetooth security, multi-chain support, and unparalleled security. Thus, Ledger Nano X is one of the leading hardware wallets in the crypto space.

Pros

  • Unparalleled security options
  • Bluetooth connectivity
  • Access to over 5,500 cryptos

Cons

  • Costs $149
  • KYC is mandatory
  • Complex to use for beginners

Ledger Nano X Wallet Review

As cryptocurrencies gain popularity and their adoption increases, so do scams and fraud. The main weapon to protect your digital assets is a hardware wallet, which requires that you physically press buttons to approve transactions. Also, a hardware wallet keeps your private keys safe and offline, making it almost impossible for someone to steal your funds.

Our Ledger Nano X review goes through the features and functionalities of this must-have cold wallet, as well as how to set it up in four simple steps.

What is the Ledger Nano X Wallet?

The Ledger Nano X crypto hardware wallet is a security solution designed to keep your digital assets safe. You can store coins, tokens and NFTS from various blockchains, including Bitcoin, Ethereum, Solana and more. This crypto device supports a Bluetooth connection, which simplifies the management of your crypto portfolio by connecting to your smartphone on the go.

Number of supported coins 5,500+
Price $149
Bluetooth Yes
Connection method USB-C, Bluetooth
Seed phrase recovery Optional Ledger Recover subscription feature for $9.99 per month

Ledger Nano X Supported Coins

You can store over 5,500 coins and tokens on your Ledger Nano X wallet from various blockchains. This includes the best cryptos like Bitcoin, Ethereum and Polkadot, as well as more obscure ones. The cool thing about the Ledger Nano X is that you install the blockchain app you want – via the Ledger Live app – and you can then store all tokens on that particular blockchain.

For example, install the Solana app, connect your Ledger Nano X wallet to your Solana wallet like Phantom, Backpack or Solflare, and that’s it. You can now safely and seamlessly store any of the thousands of tokens from the Solana blockchain, such as BONK, MYRO, RNDR, HNT, PYTH, JTO and WIF. Repeat the same process for any blockchain ecosystem you want.

Note, not all coins are supported directly in the Ledger Live app. Luckily, you can use the same trick as with the Solana example and connect your Ledger Nano X wallet to the supporting wallet of that particular blockchain. For instance, Internet Computer (ICP) isn’t supported on the Ledger Live app, so connecting to the NNS dApp wallet fixes the issue.

Understanding Ledger Nano X’s Pricing & Fees

Through our extensive Ledger Nano X review, we found that the price of this popular crypto wallet may not be justified for everyone. For $149, you get the same experience as the Ledger Nano S Plus – you store the same number of coins and tokens, you use the same Ledger Live app for all it offers, and you approve transactions the same way with both devices.

The main difference between the Nano X and Nano S Plus is that the first uses a Bluetooth connection. It’s also slightly bigger and feels more robust, but that doesn’t play a role in protecting your coins. The Bluetooth connection, however, is important if you want to connect to your iPhone or iPad as this is the only way to connect to an iOS device. Connecting to Android devices can be done via cable, and the Nano S Plus is good enough in that case.

When you’re looking at Ledger Nano X vs S Plus consider whether you need the Bluetooth connection or not. This will drive your decision on which one to get.

Of course, personal preference also comes into play. In reality, the Nano X feels better and looks sturdier compared to the Nano S Plus. If you’re storing tens of thousands of dollars or more in digital assets and it doesn’t play a role in which hardware wallet to get, the Ledger Nano X is the way to go, no doubt. But if you’re on a tight budget, go for the Nano S Plus and you won’t regret it.

Is Ledger Nano X Safe?

The Ledger Nano X crypto hardware wallet is one of the safest wallets you can get to safeguard your digital assets. Even when a software hack happened recently that was not directly affecting Ledger devices, Ledger said it would reimburse the victims.

Industry-Leading Software and Hardware

The Ledger Nano X wallets contain a secure element chip CC EAL5+ and a proprietary operating system called BOLOS (Blockchain Open Ledger Operating System). The first is designed to isolate cryptographic transaction signing from the rest of the wallet, thus minimizing points of failure.

The BOLOS software, on the other hand, is what gives the Ledger Nano X multi-chain support. Because of that, you can install various blockchain apps and store a variety of promising cryptos and NFTs in your Nano X.

To update your BOLOS, you need to connect your wallet with the Ledger Nano X app on your desktop.

PIN Protection and Physical Buttons

To activate your Ledger Nano X wallet, you need to enter a PIN combination of up to eight numbers. What further increases your protection is that all numbers are laid out from zero to nine on your OLED screen and you have to press the physical buttons to get to each number.

Once you select a number, the device randomly jumps to another number, making it impossible for anyone trying to figure out your PIN by looking at how you press the buttons.

Once you activate your Ledger Nano X, select which blockchain to use if you have multiple installed. Every time you make a transaction, you will have to sign it by pressing both buttons. This means, no one can drain your account unless you physically approve the transaction.

Bluetooth Security

Some users worry that a Bluetooth connection is a point of failure that hackers can exploit. However, the Bluetooth connection on your Ledger Nano X wallet is encrypted end-to-end. Moreover, your seed phrase always remains on the device no matter what connection you use.

Ledger constantly makes firmware updates to patch potential vulnerabilities. Check your Ledger Live app from time to time and update your Ledger Nano X if there’s an update waiting for you.

Is Ledger Nano X Easy to Use?

The Ledger Nano X wallet is easy to use even if you’re new to crypto. The setup process is straightforward, and once you’re done – you can start sending your cryptocurrencies from exchanges into your wallet for safekeeping.

If you want to actively manage your portfolio by swapping coins, staking or yield farming on decentralized applications, you can do so through the Ledger Live app or by connecting your Ledger Nano X wallet with other wallets like MetaMask and use the latter as a proxy.

Ledger Nano X

One feature that makes the Ledger Nano X wallet easy to use on mobile is the Bluetooth connection. If you’re using an iPhone or an iPad, this is the only way to connect and manage your portfolio on your mobile device. Android users can use either the Bluetooth connection or by connecting via a USB cable.

The Ledger Nano X app, called Ledger Live, contributes to this device’s ease of use. Everything you need to do can be done via the app, including updating your wallet’s software, adding new blockchain apps, staking coins and even buying coins.

Ledger Live app

Stand-Out Features of the Ledger Nano X Wallet

Our thorough Ledger Nano X wallet review goes through all the features that make this one of the best hardware wallets you can get.

Unparalleled Security

The combination of a secure element chip and a custom operating system is the basis of the Ledger Nano X security. This means you can make cryptographic transactions and other operations – even by using a Bluetooth connection – without exposing your private keys online.

Moreover, there’s a PIN combination that locks your device. Even if someone gets a hold of your Ledger Nano X, without the PIN, they won’t be able to access it.

User Experience

Setting up the device takes a few minutes with four simple steps. This makes it easy to onboard anyone into crypto, even beginners. Once you’ve set up your device, you get access to an industry-leading companion app where you can manage your portfolio, purchase new coins, stake them or swap them, and even access decentralized apps on various blockchains.

Add in the Bluetooth connection, and you’ll be able to manage your crypto portfolio on the go by connection to your mobile device.

Ledger Crypto Card

Users who want to fully own their assets while still having access to traditional payment methods will likely find the CL Card incredibly useful. Baanx provides the card, but it’s only available to UK and EEA customers.

The card lets you spend your crypto or use your crypto as collateral with rates that start from 0%. On top of that, there are cashback rewards of 1% for Bitcoin and USDT and 2% for the BXX token, depending on which crypto you decide to use.

With the CL card, you get to use your crypto everywhere where a card is an accepted payment method. Unlike traditional banks that can freeze your assets, the CL Card provider can’t do anything to your assets as they are stored on your Ledger Nano X wallet, and you are the only one who has the keys.

Ledger CL card

Integration With Third-Party Wallets

If you already used hot wallets like MetaMask for Ethereum and its Layer 1 blockchains, or Backpack and Phantom on Solana, you can connect your Ledger Nano X wallet to either of these and use these wallets to connect to decentralized apps and act as a user interface for the assets stored on your Ledger device.

For our Ledger Nano X wallet review, we connected a Ledger Nano X wallet with MetaMask. Here’s how to do it:

  1. Select the account tab in your MetaMask wallet.
  2. Select “add account or hardware wallet”.
  3. Plug your Ledger Nano X into your computer.
  4. Select “Ledger” from the options.
  5. Follow the prompts.

You can now easily manage all of your Ethereum coins, tokens and NFTs directly from MetaMask while being stored on your Ledger Nano X.

MetaMask Connect Hardware Wallet

Customer Support

Ledger has one of the best customer support services in the industry. The team is available for contact via email, social media or live chat, whichever you prefer. There’s no phone option, but that’s not a problem given the responses and solutions you get are fast.

And if there’s a problem with your Ledger Nano X wallet, say your battery has died, Ledger will ship you a replacement device free of charge.

Ledger’s social media accounts are:

How to Use Ledger Nano X

If you’re wondering how to set up Ledger Nano X device, follow these steps:

Step 1. Install the Ledger Live App on Your Computer

Download the Ledger Live app from Ledger’s official website. It’s under the “app and services” navigation menu.

Install the app and go “Get started”.

Select Nano X device from the options, and choose “First time using your Nano X?”. Follow the prompts.

Set up nano x

Step 2. Setting up Your Ledger Nano X

Connect your Ledger Nano X to your computer. Ensure no one can read the words on your Ledger’s OLED screen.

Use the buttons on your device until you reach “Set up as new device”. Press the buttons simultaneously.

Ledger wallet get started

Set up your PIN. Choose between four and eight digits. Eight is more secure, but if you plan to use your Ledger daily, it will be a hassle to type eight digits with the buttons constantly. In that case, four digits would do just fine.

But if you’re looking to have cold storage that you’ll touch a few times each year, an eight-digit PIN will make it even more secure.

Step 3. Write Down Your Recovery Phrase

Use the recovery sheets that came in your Ledger Nano X package to write down your seed phrase. Never take a screenshot and never write it down on your computer. If your computer is compromised and someone finds your seed phrase, consider your assets gone.

Verify the recovery words on your Nano X device.

Once that’s all set, open the Ledger Live app. Click “Check my Nano” to ensure it’s a genuine device.

Step 4. Install Blockchain Apps

In your Ledger Live app go to the “My Ledger” tab. Use this section to update your firmware and install the blockchain apps. No need to install every app. Install the ones that you will use, and that concludes your Ledger Nano X setup.

If you’re wondering how to transfer crypto to Ledger Nano X, simply create a new wallet on the blockchain you want, for example, Bitcoin, and then copy the address. Use that address as a receiving address on a crypto exchange or another wallet. To ensure all is good, try it first with a smaller amount.

Is Ledger Nano X a Good Buy in 2024? Our Verdict

After going through all the details, our Ledger Nano X review concludes that this is one of the best hardware wallets you can get in 2024. Store over 5,500 coins, tokens and NFTs, and manage your portfolio on mobile via Bluetooth or your computer. You can even stake your coins and purchase more with the best wallet companion app, Ledger Live.

If you own thousands of dollars worth of assets, whether it be coins or NFTs, $149 for the Ledger Nano X is a small price to pay for peace of mind.

References

FAQs

Is Ledger Nano X still safe to use?

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Kliment Dukovski
Editor

Kliment Dukovski is a cryptocurrency and investments writer. He's written over 1,000 articles to help readers understand complex crypto and investment subjects, as well as to find the best cryptocurrency products to meet their needs. His expert commentary has been featured in Fox Business, MSN Money and MediaFeed.