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I’ve been a user of Ledger hardware wallets since 2017, and today I’d like to post my updated review on the Nano X.
In this review, I’d like to introduce the wallet to those who are new to the product, as well as talk about the features that have been added since 2018. Since my main focus is security, I will be also sharing some critical information that will hopefully help you stay safe and avoid getting scammed.
What’s a Ledger Nano X?
The Nano X is a hardware wallet that supports over 1500 different assets, and can store up to 100 of them at the same time. It supports all of the mainstream cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, Stellar, Monero, as well as many alt coins and their derivatives. Here’s a full list of the supported assets.
On the outside, the Nano X looks like a pen drive with a stainless steel cover. The body of the Nano is made of plastic however, it feels way sturdier than that of the average pen drive. The device features a 30×13 mm screen, and two buttons. It can be connected via USB to your desktop (MacOS or Windows) or via Bluetooth to your phone (iOS 9+ or Android 7+).
Despite its seeming simplicity, the Nano X is an advanced device that features a high-end ST33J2M0 secure element, as well as its own operating system. This makes the device immune to any remote attacks, as well as makes it highly resistant to attacks even in the unfortunate case a hacker gets their hands on the physical device.
Note: I say “highly resistant to attacks” to avoid confusion. If your device gets lost or stolen, it’s critical to restore your funds with the recovery seed and transfer them to a different wallet asap. No matter how secure the device is, you don’t want hackers to possess the chip that has your encrypted keys on it.
What does the Ledger Nano X do?
The device has two functions:
The first one is to store your personal keys. As you probably know by now, all of the coins are out there in the blockchain; your wallet just holds a set of keys that prove your ownership of those coins.
You can obviously create a so-called software wallet on your PC and back up your keys on an USB stick, or even create a cloud wallet and trust a third party to store the keys for you. While not a particularly bad idea for small sums of cryptos, this method is far from safe.
You probably know how vulnerable are…
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