Ledger Nano X Wallet
Learn all about the Ledger Nano X bitcoin wallet, the latest model introduced by Ledger, one of the world’s leading companies in the cybersecurity and personal privacy sector.
Ledger Nano X Overview
The Ledger Nano X wallet was launched by global cyber security leader Ledger in 2019, with the new model being a follow-up to the Ledger Nano S, which has sold more than 1.4 million units worldwide. The X model builds on the previous version by adding enhanced security features and an improved overall user experience and design, as well as added Bluetooth connectivity. It is also more powerful and is better in terms of responsiveness, while also having twice the number of pixels as the Ledger Nano S.
Ledger was first founded back in 2014 when a group of cryptocurrency specialists came up with a clever way to embed security solutions with a solid business model to create an advanced level blockchain application. Since then, the company has grown rapidly and now has more than 130 employees across more than 130 employees across three locations – Paris, Vierzon and San Francisco.
Why Ledger Nano X?
The Ledger Nano X wallet is regarded as one of the more reliable bitcoin wallets on the market, when compared with other wallets that have similar functionality. It is what is known as a cold wallet, as it provides offline storage for all the assets that are transferred to it.
Advantages and Disadvantages
Advantages
Good security
The wallet passes one of the key requirements that cryptocurrency investors and traders demand – security. As it is a hardware wallet or cold wallet, the offline storage of data allows the user to store their bitcoins or any other cryptocurrency type safely away from potential hackers.
Display screen
A new and improved screen makes it easier for users to view their wallet addresses, along with other important details, without the need to log in on a desktop computer or other device.
Disadvantages
Expensive option
The Ledger Nano X wallet is one of the more expensive options currently available to purchase, and costs nearly twice the price of the S version. Indeed, many wallets are completely free, so this is an option that may exclude some users who may have a limited budget.
No touchscreen
Unfortunately, despite many aspects of the previous model being upgraded, the Ledger Nano X wallet does not feature a touch screen, but keeps the two confirmation buttons. For the price, it might be expected to have touch screen functionality.
How to Set Up
The first step to take is to set a 4 to 8-digit PIN code, before writing down the all-important seed phrase, which is a 24-word phrase that can be used to recover lost or stolen funds.
Next up, the wallet can be paired with a mobile device and controlled via the Ledger Live mobile app, which is a relatively straightforward process.
Lastly, once the device is paired and ready, the user can download and install apps, as well as add specific accounts, with a complete onboarding process being made available on the Ledger website.
Bluetooth
The Ledger Nano X wallet provides Bluetooth compatibility, allowing the user to manage their Ledger wallet from a mobile device.
Applications
This wallet has the storage capability for up to 100 crypto applications to be stored on the device, with more than 1,500 coins and tokens also supported.
Design
Its design is more advanced, in comparison to the S version, as it features a larger screen, while retaining the portability of the previous model.
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