ledger nano x – Blockchain based near-field communicatons (NFC) will revolutionize the world of retail,cashless payment and digital commerce.NFC enabled wallet is a very useful addition to the digital wallet ecosystem.
It is an innovative new generation of blockchain based virtual currency wallets that aims to facilitate near-field communication (NFC) transaction ina more secure, convenient and cost effective way than existing systems.
Ledger Nano X Review
Ledger Nano X is a Full featured hardware wallet that enables users to store the blockchain in secure, user-friendly and highly secure manner. Security should always be at the forefront of any crypto holder’s mind. From those who merely hold a few Satoshis, right up to those whales sitting on hundreds of thousands or even millions of dollars worth of coins, keeping them safe should be their number one concern which is one of the reasons people love the Ledger Nano X and other Ledger products.
As crypto holders, we should always be asking ourselves how safe our assets really are and consider where we are stashing them. The thought of having them stolen, or if the platform we hold them on, gets regulated into oblivion. There is nothing worse than losing our beloved crypto after all the work we’ve done and money spent to build up our holdings.
The Ledger Nano X
You should now have a good understanding of the company and the software behind the wallet itself. Ledger is an established brand with millions of users worldwide and a spotless safety record. The Ledger Live software is easy to use and well laid-out, so managing your wallet could not be simpler.
So, armed with all that reassuring knowledge, let’s look at the Nano X itself and how you can get started with it.
Ledger Nano X Features
Ledger Nano X is small and lightweight, weighing in at a mere 34 grams to make it relatively inconspicuous and convenient. In the box, you’ll find, along with the device itself, a USB Type C cable, instruction booklet, keychain strap and three separate sheets on which to note down your recovery phrase.
The buttons are nicely integrated, making it a bit sleeker and more shapely than the Nano S model. These two buttons allow you to navigate on the device, and pressing them both together activates the ‘Enter’ key.
The Nano X’s main advantage over its predecessor is its Bluetooth connectivity, which allows you to control it from your phone. The Nano S can only be accessed via a computer, which is a big step up in the convenience stakes.
The Ledger Nano X also has a larger built-in screen, and while the Nano S could only store 3-5 wallet apps, the Nano X has room for 100. Note that the updated Nano S Plus matches the Nano X in terms of being able to install up to 100 apps and has the same size screen, but still lacks Bluetooth and mobile-friendliness. Another major difference between the Nano X and Nano S is that the Nano X has a battery, so it can function without being plugged in.
Ledger Nano X Setup
Once unboxed, the first stage is to connect your wallet to either your computer or smartphone, using the USB cable provided or the Bluetooth connectivity. Once done, you will be prompted to set up the pin code to ensure only you can access the device. This is an important added safety feature if your Ledger Nano X falls into the wrong hands.
Once this is done, you will be given the words that make up your seed phrase. It is vital that you write this down and store it somewhere safe and secure. It’s a good idea to make multiple copies of this seed phrase and store them in different locations, as if you lose it, you won’t be able to access your wallet.
Many of those with significant crypto holdings go as far as to store a copy of their seed phrase in a bank vault for extra safekeeping. This may be a step too far for most of us, but it does show just how important those recovery words are.
Some other hardware wallets allow you to skip this step and complete it later, but this is a mistake. Time spent setting your device up properly is not wasted, and this vital security step shouldn’t be put off till later. So get it done and get that crypto secure.
Once you have your security protocols in place, you can pair the Nano X with your computer or phone. If you already have Ledger Live set up, you can begin moving your coins across onto the device.
However, if you haven’t, download and install the app, then install the wallet apps you’ll need for the various parts of your portfolio. Once this is done, the device screen will take you through transferring your coins onto it. You should now be set up and good to go.
“What is the E – Wallet for crypto currency? What’s it all about?”
E-wallet is a Secure way to store and exchange in a nano x crypto currencies.It is a digital wallet that can be used for the storage of crypto currencies and other digital assets.
Crypto currency is decentralized digital currency that uses cryptography it control creation, distribution and use. Cryptocurrencies are nat backed by any goverment and central bank, but instead relly on an open source network of users who agree to be paid in crypto currency for their work.
Ledger Nano X Specifications
For the geeks out there, the Nano X runs on Ledger’s BOLOS operating system and contains two separate chips. The STM32WB55 runs the BOLOS system, while private keys are encrypted and transactions signed by the ST33J2M0.
The encryption on the device is also of a level that hackers cannot access any data through its Bluetooth connection. So whilst the advanced features of the Nano X theoretically offer more points of failure from a security perspective, any potential entry points for hackers and malware have been sealed up, and the device remains secure.
There’s also a neat extra feature known as a hidden wallet, which allows you to set up different wallet interfaces on the device. These are accessed by a different pin code, so if you’re the victim of a $5 wrench attack and someone is forcing you to give them access to your device, you can misdirect them to a wallet with only a small amount of coins contained within.
Buying a Ledger Nano X
Before we get into prices, a word of caution, when buying a Ledger device (or any other hardware wallet), always buy it directly from the manufacturer. This is because there have been instances of thieves buying a device and noting down the seed phrase before selling it on.
They then waited for its new owner to load coins onto it before using the phrase to clear it out. For this reason, avoid buying a wallet from eBay, Amazon or any other retailer. Instead, nano x go directly to the manufacturer’s website and buy it there. It won’t be any more expensive, and if you see cheaper alternatives elsewhere, this should set alarm bells ringing.
You will also see a holographic strip on the bottom of the device when you remove it from its box for the first time. Do not use the device if this is missing, damaged, or showing signs of interference.
The Nano X is available from Ledger’s website for $149 (£136/€149). This includes VAT. Shipping is free, and discounts are available if you buy more than one.
Whilst double the Nano S cost, the Nano X more than justifies the higher price tag with its extra features and enhanced storage. It also compares favourably to its rival, the Trezor Model T, which costs around $300 (£250/€300).
I was impressed by the introduction of the Nano S Plus and think this was a smart move on Ledger’s part. The Nano X has a hefty price tag, while the original Nano S disappointed many altcoin enthusiasts with a lack of storage space. If you don’t need Bluetooth and mobile support, I would seriously consider the Nano S Plus, which has the same storage capacity with a steal of a price at a mere $80 (£69/€80).
Ledger Nano X Frequently Asked Questions:
Why is the Ledger Nano X So Expensive?
The Ledger Nano X is so expensive due to the increased storage size over the other model, the larger screen, and Bluetooth capabilities. This is Ledger’s flagship product and the price tag reflects that. If you don’t feel like forking out for the Ledger Nano X, you can opt for the Ledger Nano S which is about half the price, or check out the Trezor One.
Does the Ledger Nano X Have a Touchscreen?
No, the Ledger Nano X does not have a touchscreen, it has buttons on the side for navigation. If that is important to you, the Trezor Model T or the Ellipal Titan may be better suited for you.
Where to Buy the Ledger Nano X
It is always a good idea to purchase hardware wallets directly from the company website and never second hand. The reason for this is that many people have lost funds by purchasing second-hand wallets as the original owner kept a copy of the recovery phrase, sold the wallet, and once the new user loaded the wallet up with crypto, the original wallet owner was able to steal the funds.
How Much Storage is on the Ledger Nano X?
The Ledger Nano X has 1.8 Mb of storage which translates roughly to being able to support up to 100 cryptocurrencies, vs the Nano S which can store up to 3. The newly released Ledger Nano S Plus matches the Ledger Nano X in terms of storage space, providing a cheaper alternative.
What Crypto does the Ledger Nano X Support?
All Ledger devices support over 5,500 different tokens and coins, though the Nano S only has enough storage for up to 3 coins, while the Ledger Nano X can support up to 100. A full list of supported tokens can be found on the Ledger Supported Coins page.