Ledger Nano X Wallet
4.0 ⭐⭐⭐⭐
Ledger Nano X
- Ledger was founded in 2014. It is headquartered in Paris, France, but it has offices across the globe. The company has 700 employees worldwide.
- The company has shipped millions of crypto hardware devices. While it has rivals like Trezor, Ledger is clearly one of the market leaders in cold wallet solutions. It is one of the most prominent – and trusted – names in the crypto sector.
- Ledger was one of the early pioneers of cold wallets for the crypto and blockchain revolutions. It offers numerous crypto storage solutions, not limited to hardware. These include the Ledger Live App.
- Ledger has received heavy investment over the last decade, including the raising of $108 million from True Global Ventures, Digital Finance Group, and VaynerFund in 2023.
- The company has several partnerships and offers branding opportunities for organizations on its devices. It has also partnered with Samsung to make bespoke crypto hardware.
- Security Features: 4.5 ⭐ 90%
- Supported Cryptocurrencies: 4.5 ⭐ 90%
- User Experience (UX): 4.0 ⭐ 80%
- Integration & Compatibility: 4.0 ⭐ 80%
- Transaction Features: 4.0 ⭐ 80%
- Additional Functionalities 4.0 ⭐ 80%
- Hardware.
- Non-Custodial.
- Windows, Mac Linux, iOS, Android, Ledger Live App.
- It also offers DeFi browser integration for several products.
Ledger Nano X Wallet
Cold crypto wallets are important storage solutions for your digital assets. Cold wallets are considered the most secure way to store your crypto, as the wallets are offline – giving us the term “cold” – and thus are immune to threats like phishing and malware. There are several different types of cold wallets, including hardware wallets, paper wallets, metal wallets, and air-gapped devices. Hardware wallets are the most common, giving you convenient access to your crypto while providing security.
Security is the number one factor for choosing a cold wallet, and it is a key consideration in the debate over cold wallets vs. hot wallets (software-based wallets connected to the internet). Yet, while you will want to secure your private keys with a cold wallet, other factors like UX, accessibility, portability, and durability of the device should also come into play when determining the best crypto cold wallets.
Cold wallets are often considered a great choice for long-term crypto investors. For example, if you believe you will hold Bitcoin for several years, experts will advise you to get it off any exchanges or out of any online hot wallet and into secure cold storage. Most cold wallet providers will have a range of compatible hot wallets, so you can
Key Features & Functionalities
Bluetooth Connectivity
A key feature for the Nano X. Enables wireless mobile management via the Ledger Live app (available for iOS and Android).
5,500+ Supported Assets
Extensive cryptocurrency support, including major tokens like BTC and ETH, altcoins, memecoins, and NFTs (through Ledger Live).
Secure Element (SE) Chip
Ensures your private keys stay isolated from online threats.
Battery Life
Equipped with a rechargeable lithium battery with up to 8 hours of standby time. However, some users have cited battery issues.
Multi-Account Support
Manage multiple accounts on a single device.
Pros and Cons of Ledger Nano X
Pros:
Reputation. Trusted by millions of crypto holders worldwide. Ledger has earned its reputation as a crypto wallet leader.
Robust Security. The Ledger Nano X is on the most popular crypto cold wallets due to its bespoke security features, including SE chip, air-gapped security, and regular firmware updates.
The Ledger Ecosystem. Access Ledger’s other cryptocurrency products, including the Ledger Live app, to manage your crypto assets.
Compatibility. Securely store thousands of different cryptocurrencies. Interact with De-Fi, dApps, and other web3 products.
Cons:
Pricing
Retailing at around $149, the Ledger Nano X is at the upper-medium end of the cold wallet market.
Cheaper alternatives include the Ledger Nano S Plus or Trezor One.
Durability. The battery in the Ledger Nano X is non-replaceable and is estimated to last 5-7 years, after which the device will need to be charged by a USB-C.
Security Features
Air-Gapped Security
While Bluetooth allows wireless connection, all key generation and signing happen offline on the device itself.
Multi-Signature Support
Compatible with multi-signature wallets for additional transaction security.
PIN Protection
The Nano X requires a 4–8 digit PIN code for physical access to the device.
Open-Source Code
While the Ledger Live software is closed-source, critical parts of the firmware in the device itself are open-source.
Tamper-Proof Design
The device is built with strong physical protection to resist break-in attempts.
Supported Cryptocurrencies
Popular Coins
Supports major assets like Bitcoin, Ethereum, Ripple, Cardano, Polkadot, and many other major altcoins & memecoins.
Token Support
Full support for ERC-20 tokens and BEP-20 tokens.
Custom Assets
Ledger Live supports adding custom assets via third-party wallets like MetaMask.
User Experience (UX)
Setup & Configuration
Intuitive onboarding with step-by-step guidance offered through the Ledger Live app.
Interface Design
Features two physical buttons for navigation and transaction confirmation.
Transaction Signing
Integration with Ledger Live for managing crypto, staking, and accessing NFT products.
Setup & Configuration
Intuitive onboarding with step-by-step guidance offered through the Ledger Live app.
Interface Design
Features two physical buttons for navigation and transaction confirmation.
Transaction Signing
Integration with Ledger Live for managing crypto, staking, and accessing NFT products.
Integration & Compatibility
Exchanges & dApps
Integrates with major exchanges like Binance, Coinbase, and Kraken with the Ledger Live app.
DeFi Support
Compatible with MetaMask, WalletConnect, and other DeFi platforms.
NFT Management
Manage and view NFTs directly in Ledger Live.
API Support
Developers can integrate Ledger functionality through available APIs that complement the Ledger ecosystem.
Bluetooth Support
Allows you to manage cryptoassets without needing a USB cable.
Backup & Recovery Options
24-Word Seed Phrase
Generates a BIP39 recovery phrase during setup.
Metal Backup Solutions
Compatible with third-party metal backup plates.
Passphrase Support
Adds an extra layer of security for advanced users by creating hidden accounts accessible only with an additional passphrase.
Security & Risks Assessment
Ledger has a strong reputation for crypto security and, importantly, as an innovator of new cold wallet security techniques. However, the company and its products have experienced security incidents in the past. These include a major data breach in 2020, where Ledger’s eCommerce platform was hacked, compromising the personal details of around 272,000 customers. The data breach leaked details of names, postal addresses, and email addresses, yet crypto-focused data, such as private keys, were not compromised. While crypto credentials were not accessed directly, personal details were used in crypto phishing scams targeting Ledger users. In response, Ledger introduced a dedicated crypto security unit.
User Protection Measures
Ledger has various security measures for Nano X wallets and other products. These include:
- Regular firmware updates. Ledger constantly updates its firmware with new security protocols. Updates are confirmed directly on the device to mitigate the risk of malicious installations.
- Third-Party Firmware Audits. Ledger employs independent crypto security experts to test devices for vulnerabilities and security risks.
- Anti-tampering protection. Each Ledger Nano X device is sealed with an anti-tampering sticker to ensure no supply chain interference can occur. In addition, the SE chip will lock the device if tampering is detected.
Potential Risks
Ledger is considered one of the global leaders in crypto cold storage. However, no method for storage can be 100% secure. The potential risks for Ledger Nano X are broadly the same for any cold wallet:
- The device can be lost, stolen, or damaged. In this scenario, you can regain access to your crypto with your recovery phrase (provided for all Ledger devices).
- You can lose your seed phrase or password credentials, compromising your device.
- The device can be compromised in the supply chain. Although, Ledger has taken steps to mitigate this risk.
- Cold wallet users can still be targeted by phishing attacks, tricking them into handing over their crypto data.
User Reviews & Community Feedback
Trustpilot Ratings & Reviews
Trustpilot reviewers give Ledger 1.2 out of 5. Around 1800 reviews of Ledger (the company) have been left on the platform. We would, however, take the feedback with a pinch of salt as big names in the crypto sector can receive floods of negative reviews that don’t provide the full picture of their standing, often being ‘review bombed.’ On Amazon and BestBuy, the Nano X device specifically has received scores of 4.3 and 4.5 respectively. This has been measured across tens of thousands of reviews.
Reddit & Crypto Community Discussions
Ledger is a big name in the crypto sector. When the Nano X launched in 2019, there was palpable excitement across the web3 community, thanks to the Nano X’s pioneering features like Bluetooth connectivity. It is Ledger’s flagship product. While feedback has been broadly positive, there are some issues highlighted by real crypto users on platforms like Reddit. These include issues with the battery on the devices.
Expert Reviews & Endorsements
Among notable endorsements from crypto experts and influencers, prominent crypto analyst Willy Woo has recommended using Exodus wallet.
Woo is considered one of the most prominent figures in the crypto sector.
Pricing & Cost Analysis
Retailing at $149, the Ledger Nano X is not the cheapest cold wallet option. Budget alternatives include the Ledger Nano S Plus ($79) or Trezor One ($69). At the upper end of the range, you can purchase the Ledger Stax ($279), which offers a touchscreen display, magnetic stacking design, and improved integration with products like NFTs.
Once you purchase your Nano X, you are not obliged to pay any more fees beyond network costs for crypto transactions. The Ledger Live app is free to use. The company does offer some subscriptions, including Ledger Recover, which is a premium service to back up and restore your recovery phase with third-party custodians. Additional costs like metal wallet plates and carry cases are fully optional.
| Feature | Ledger Nano X | Ledger Nano S Plus | Trezor One |
|---|---|---|---|
| Security Features | Yes. (Secure Element Chip, PIN, Recovery Phrase) | Yes. (Secure Element Chip, PIN, Recovery Phrase). No Bluetooth support. | Yes. (PIN, Recovery Phrase, No Secure Element chip) |
| Supported Cryptos | 5500+ including BTC, ETH, USDT, SOL | 5500+ including BTC, ETH, USDT, SOL | 1200+ lacks support for major altcoins like SOL and ADA. |
| Companion App | ✓ | ✓ | ✓ |
| Staking Support | ✓ | ✓ | ✘ |
| Price | Med-High $149 | Low $79 | Low $69 |
Final Verdict & Recommendations
The Ledger Nano X is one of the world’s most popular cold wallets, shipping millions of units since its introduction in 2019. It is a solid option for beginners looking to purchase their first cold storage solution. Users can avail themselves of the device’s simplicity and portability (it fits in their pocket), support from the Ledger ecosystem, and constant security updates.
The Nano X is not perfect, however. A common complaint from crypto holders is that the battery can experience issues. That said, it is one of the most popular cold wallets for a reason. Ledger is trusted by crypto holders around the world, and the Nano X is its flagship device. We give it 4 stars out of 5.
Our Rating
4.0 ⭐
⭐ 4.0 | Ledger Nano X Wallet
FAQs
Is Ledger Nano X the safest cold wallet?
No. There are cold wallets with more robust security features. However, the Nano X does a great job of balancing simplicity, functionality, and security.
Can I store multiple cryptocurrencies in this wallet?
Yes, well over 5,000. These include Bitcoin, Ethereum, and numerous altcoins. Further crypto management options are offered through the Ledger Live app.
How does Ledger Nano X compare to Nano S Plus?
You can consider the Nano X as an upgraded version of the Nano S Plus with more features, including Ledger’s bespoke Bluetooth capabilities. For more security and features, consider upgrading to Ledger Stax or Ledger Flex.
Does Ledger Nano X support staking and DeFi?
Yes. You can access DeFi, staking, and other web3 products through the Ledger Live app on mobile and desktop.
How can I recover my wallet if I lose access?
A recovery phrase is generated when you purchase and activate the device. Should the Nano X be lost, damaged, or stolen, you can regain access to your private keys (your crypto) using the recovery phrase.
Best Security Practices for Crypto Cold Wallets
The crypto sector is constantly innovating, bringing new security features to storage solutions like cold wallets. Ledger is certainly at the heart of that. However, crypto security should always begin and end with the user. Educate yourself on the cold wallet risks, remote as they may seem, and always follow crypto security guidelines.
How to ensure your cold wallet is secure:
- Make sure the device has not been tampered with. Only purchase from reputable sources.
- Secure your recovery phrase. Keep it in a safe place and do not store it online. Consider having multiple backups.
- Keep firmware updated.
- Enable additional protections like passphrases/PINs.
- Beware of phishing scams and malicious links when transferring your crypto to hot wallets, DeFi products, and exchanges.