Ledger Nano X 2023 Review | Is Ledger a Safe Cold Wallet?

ledger nano x

Security is priority number one for crypto investors. No matter how little or how much crypto you own. The price you can pay for sovereignty can be huge if you don’t take the necessary steps to secure your funds. Keeping your crypto safe should be at the forefront of your mind. Leaving your coins on a crypto exchange is easier, but it’s not safer. It’s recommended every crypto investor uses a cold wallet, otherwise known as a hardware wallet, to keep your crypto safe.

What is Ledger?

Ledger is a hardware wallet company launched in France in 2014 by a team of eight professionals with expert backgrounds in internet security, cryptocurrencies, and business. The vision for the company is to create secure solutions for blockchain applications and that’s exactly what they have delivered. Ledger has grown to employ over 800 people worldwide and has sold over 5M wallets to over 200 countries. As of 2023, Ledger has three hardware wallets to choose from: the Ledger Nano S Plus (entry-level), the Nano X (flagship model), and the soon-to-be-launched Ledger Stax (designed by the iPod creator)—available on pre-order and launching in March 2023. All Ledger devices are compatible with Apple, Android, and Windows PCs and can be set up and managed through the Ledger Live app. 

Ledger

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Ledger Nano X: Quick Glance

The Ledger Nano X is a hardware wallet that allows crypto holders to take complete ownership of their coins via their private key. Hardware wallets are simple devices that are never connected to the internet, meaning your private keys are kept offline in “cold” storage. This stops anyone from remotely accessing your crypto. 

The Nano X resembles a USB drive, designed with brushed stainless steel and black plastic. The device opens with a switchblade swivel and features a small LED screen that allows you to buy, sell, send, receive, and swap cryptocurrencies. It’s sleek, sexy, and compact.

The table below provides an overview of the Ledger Nano X:

NANO X
AccessInternational shipping is available, and all orders are shipped from the Ledger warehouse in Viezon, France (shipping excludes some countries either internationally sanctioned or with restrictive regulations)
USB-C
iOS and Android
MacOS and Windows
Ease of use and SetupDesign: Simple with 2 buttons and 1 screen
Compatibility: Works with desktop, Android, and iOS
Box contents: 1 hardware wallet, 1 USB-C to USB-A cable, 1 getting started leaflet, 3 recovery sheets, 1 keychain strap
Getting started: Install the Ledger Live app, connect the wallet to your device using the cable, create a PIN code, note down your seed phrase, and add blockchain networks. You’re then ready to move your coins
Updates: Firmware updates require the Nano X to be connected to a computer via USB
FeaturesBuy, sell, send, receive, and swap cryptocurrencies
Available in multiple colors
Storage for up to 100 cryptocurrency apps
Staking
NFT support for Ethereum and Polygon (Ledger Live app)
Multi-chain NFT support (third-party apps)
2-year warranty (orders via Ledger website)
Built-in battery
Bluetooth connectivity
Supported CoinsOver 500 cryptocurrencies (directly via Ledger Live app)
Over 5,000 cryptocurrencies (via third-party apps)
Price$149
SecurityClosed-source technology
PIN protection
24-word Secret Recovery Phrase
SE chip
SpecificationOperating system: BOLOS, Ledger’s OS 
Chip: ST33J2M0
Size: 72mm x 18.6mm x 11.75mm
Weight: 34g
Connector: USB-C
Materials: Brushed stainless steel and plastic. The device contains a lithium-ion 100mAh battery (0.37Wh = 1 cell)
Compatibility: 64-bit desktop computer (Windows 8.1+, macOS 10.14+, Linux) excluding ARM Processors. Please note that the Nano X and the Ledger Live App are not compatible with Chromebooks. Also compatible with smartphones (iOS 13+ or Android 7+)

Ledger Nano X: Access

The Ledger Nano X is available with worldwide shipping and all orders are shipped from the Ledger warehouse in Viezon, France. However, there are some countries that Ledger is currently unable to ship to, due to international sanctions and local regulations. The countries excluded from shipping are: Belarus, Cuba, the Democratic People’s Republic of Korea, Egypt, Iran (Islamic Republic of), Iraq, Kosovo, Morocco, Myanmar, Nepal, Pakistan, Philippines, Russian Federation, Sudan, and Syrian Arab Republic. For the most up-to-date list, please visit the Unavailable Countries page on the Ledger website. The Ledger website is available for translation into 10 languages which you can select from the dropdown menu in the top-right corner.

Ledger
Source: Ledger

The Nano X works both with mobile and desktop devices via the Ledger Live app. The app is available for Apple iOS and Google Android on mobile devices, and available on both MacOS and Windows desktop computers. However, Ledger devices and the Ledger Live app do not currently support Chromebooks. 

Whilst the Ledger Nano X is available through third-party retailers such as Amazon, it is always recommended to buy directly from the manufacturer via the official Ledger website. This is to avoid buying a fake or tampered device. Thieves may have already noted down your 24-word seed phrase. Again, safety and security are your number one priority as a crypto owner. It’s not worth taking any unnecessary risks.

Ledger Nano X: Ease of Use and Setup

The Ledger Nano X has been designed to be as intuitive as possible with two buttons, one screen and an app. That’s all you need to control the device. Hold down both buttons at the same time to activate the “Enter” key.

Ledger Nano X
Source: Ledger

The Bluetooth and internal battery on the Nano X make this extremely flexible to use however you prefer. Its device compatibility means you can easily manage your crypto transactions from your phone, laptop, or desktop computer no matter whether it’s Android, Apple, or Windows PC.

To set up your Nano X, first download the Ledger Live app on your phone or computer. Then you need to connect your wallet to either your phone or computer using the cable provided or the Bluetooth connection. You will be prompted to enter a PIN for added security. This ensures only you can access the wallet. Once this is complete you will be given your 24-word seed phrase. Write this down and store it away somewhere safe. You may want to consider creating a duplicate copy and storing it away in a separate secure location. It’s always good to have backups. On the Ledger device itself, you will need to reconfirm the seed phrase. 

From here you can use the Ledger Live app to install each blockchain app you will need. You will need to head to the “accounts” tab for this. For example, if you want to manage your Bitcoin, download the Bitcoin app or if you want to manage an ERC-20 token, make sure you download the Ethereum app. 

Ledger Live app
Source: Ledger Live app

That’s the setup complete and you are now ready to start moving your coins and tokens. It’s always advised to make a test transaction first using a small amount of crypto. The Ledger Live interface is simple and easy to navigate, so it’s suitable for investors of all skill levels, whether beginner or advanced.

Ledger Live app
Source: Ledger Live app
Ledger Nano X 2023 Review | Is Ledger a Safe Cold Wallet? - - 2024

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Ledger Nano X: Features

Here are the main features the Nano X provides:

  • Simple design: The Nano X is a small and lightweight device weighing in at just 34 grams, making it portable, inconspicuous, and easy to store away. With one screen and two buttons on the side to navigate left and right through transactions, the design is simple yet effective. Hold down both buttons at the same time to activate the “Enter” key. Inside the box, you get the wallet itself, a USB-C to USB-A cable, a getting started leaflet, three sheets to write down your seed phrase, and a keychain strap.
  • Crypto staking: Ledger allows you to stake your crypto directly through the Ledger Live app to make some passive income. To see a full list of cryptocurrencies you can stake and earn rewards, please visit the Staking page on the Ledger website.
  • Bluetooth connectivity: The Nano X comes with Bluetooth capabilities which is one of three key differences between this wallet and the cheaper Nano S Plus model. The Bluetooth connection (BLE) is end-to-end encrypted to ensure user privacy and doesn’t pose any extra security risks. The private keys never leave the secure chip, so in the event that the BLE is compromised by an attacker, they wouldn’t be able to see the private keys or make users sign transactions. The Nano X can be used with or without the Bluetooth connection, as users have the choice to connect to a computer or mobile phone using the provided USB cable. To disable the Bluetooth connection, users can hold both buttons down on the wallet device to access the Control Center. 
Ledger Nano X
Source: Ledger
  • Built-in battery: Different to the Nano S Plus, the Nano X comes with a built-in 100 mAh battery. The wallet will last several hours whilst in use and a few months when idle on a full charge. The battery can’t be replaced and is designed to last up to 5 years. To recharge the battery, just connect the USB cable to a computer using the cable provided.
  • 2-year Warranty: The Ledger Nano X is covered with a 2-year warranty and Ledger advises users to reach out to its support team in the event their device is damaged or are experiencing issues. If your Ledger wallet needs to be replaced, you will need to submit proof of receipt.

Ledger Nano X: Supported Coins and Services

The Nano X supports over 5,500 cryptocurrencies in total that can be sent, received, exchanged, swapped, or staked. But one thing to bear in mind is that accessing the full range of coins and tokens requires installing third-party apps, services, and wallets within the Ledger Live app.

Using the Ledger Live interface, users can access a wide range of DeFi and NFT apps, unlocking the wallet’s full potential. These include MyEtherWallet, MetaMask, Binance DEX, Yearn, and Lido Finance. Users no longer have to risk their crypto in online wallets and protocols just to play in the world of DeFi. The Ledger Nano X allows you to download and install up to 100 crypto apps and is compatible with over 50+ third-party wallets.

Ledger Live app
Source: Ledger

The number of cryptocurrencies supported by Ledger directly is over 500. Unless you’re a complete crypto degen, it should be enough to get you started with securing your long-term HODL portfolio. For NFTs it’s the same situation. The Ledger Live app itself currently supports Ethereum and Polygon-based NFTs. To secure NFTs from other blockchains, you will need to download and install a third-party app to do so.

For a full list of supported coins, please visit the Supported Crypto Assets page on the Ledger website.

Ledger Nano X: Price

The Ledger Nano X costs $149 (£136/€149). The Ledger website will be priced in your local currency equivalent. Since the company’s inception, the Nano X wallet has been Ledger’s flagship product. Until the launch of the Stax wallet in 2023, the Nano X has been the brand’s premium hardware wallet. This is due to its extra features compared to its younger sibling, the Nano S Plus. You can read more about the Nano S Plus here.

Ledger

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Ledger Nano X: Security

The Ledger Nano X is a solid hardware wallet option offering users state-of-the-art security.

The security features include: 

  • CC EAL5+ certified secure chip: The Ledger Nano X features a CC EAL5+ certified secure chip, recognized by the industry as providing a high level of security. This means the wallet has passed rigorous verification and security testing. In addition, Ledger’s security has been certified independently by the National Agency for Information Systems Security (ANSSI). This is external, third-party confirmation that Ledger is committed to providing users with top-notch security solutions. The Nano X uses these SE chips to run the operating system, sign transactions and encrypts the private keys.
Ledger Nano X
Source: Ledger
  • Closed-source firmware: Whilst the apps and Ledger Live (the client) are open-source, Ledger’s firmware remains closed. Ledger is closed source so that the company can guarantee the supply chain and infrastructure remains secure and resilient against attempted physical attacks. The hardware is designed to avoid these risks, and whilst the code is open source, only code approved by Ledger itself can be loaded onto the device. 
  • PIN-protected: The device itself is protected by a pin chosen and set up by the user, which acts as a lock mechanism. In the unlikely event that your Ledger wallet is stolen or misplaced, the thief will need to get past your PIN first. This extra security measure is designed to make it harder for anyone but yourself to access your crypto. Users can change their PIN in the security settings. 
  • Easy Backup: As long as you have your 24-word seed phrase, you will be able to recover your crypto if you lose your wallet. Remember, your crypto always remains on the blockchain and it’s your Ledger wallet that provides you with a seed phrase so you can access your crypto. In the event your Ledger Nano X is stolen or misplaced, you can buy another one and use the same seed phrase during the set-up process to restore the old one. 

Finally, something to note about Ledger security is that the company suffered a marketing data leak in mid-2020. Customer data such as email and phone numbers were exposed, leading to phishing attacks. Whilst this is not specifically related to the Nano X, it’s something to keep in mind, especially since Ledger uses closed-source technology.

Ledger Nano X: Specification

The Nano X runs on Ledger’s own operating system called BOLOS. It was designed with security in mind. It allows third-party apps to be installed onto the device while keeping them isolated from each other, and away from accessing your 24-word seed phrase. This means if a hacker installed malicious code affecting an app that you have installed on your wallet, it wouldn’t take anything else down.

Here are the technical specifications for the Ledger Nano X:

NANO X
Operating SystemBOLOS, Ledger’s OS 
ChipST33J2M0
Size72mm x 18.6mm x 11.75mm
Weight34g
ConnectorUSB-C
MaterialsBrushed stainless steel and plastic
The device contains a lithium-ion 100mAh battery (0.37Wh = 1 cell)
Compatibility64-bit desktop computer (Windows 8.1+, macOS 10.14+, Linux) excluding ARM Processors
Please note that the Nano X and the Ledger Live App are not compatible with Chromebooks
Also compatible with smartphones (iOS 13+ or Android 7+)

Ledger Nano X: Final Thoughts

Crypto investors buy hardware wallets for security and the Ledger Nano X does just that. It gives investors peace of mind, which can’t go amiss, especially during those ugly bear markets. The Ledger Live app and the wallet itself complement each other beautifully. The sleek but simple design makes it a dream combo to work with.

The Nano X can be more than a cold storage wallet for your Bitcoin, with endless possibilities for dabbling with DeFi, NFTs, and staking. With so much depth and breadth, it’s down to the individual user to determine how much to explore within the wallet. It’s a universal crypto wallet that caters to every skill level, whether a crypto newbie, or crypto OG, young or old. 

Whilst the set-up is easy and straightforward with a simple interface, beginner investors may feel the overall concept and need for a hardware wallet are the most challenging things to negotiate. Once you can get your head around why cold storage is so important, rather than leaving your money in an exchange like you would a bank, it’s not as daunting as you might think. Regardless of who you are and how much crypto you own, a hardware wallet is a must for security, and the Ledger Nano X is a solid choice.

If you like the Nano X but don’t need Bluetooth, the Nano S Plus is a cheaper alternative. This may be the preferred choice for beginners who are just looking for peace of mind more than anything else. You get the same storage and same cryptocurrency options, for much less, making it much better value for money. 

Read a full comparison of the Ledger Nano X vs. Nano S Plus

Ledger Nano X 2023 Review | Is Ledger a Safe Cold Wallet? - - 2024

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Ledger Nano X FAQs

Where to buy a Ledger Nano X? 

Always buy your Ledger Nano X directly from the manufacturer via the official Ledger website. Whilst the Ledger Nano X is available through third-party retailers such as Amazon, this is not advised. This is to avoid buying a fake or tampered device. Thieves may have already noted down your 24-word seed phrase. Again, safety and security are your number one priority as a crypto owner. It’s not worth taking any unnecessary risks.

What cryptocurrencies does the Ledger Nano X support? 

The Nano X supports over 5,500 cryptocurrencies in total that can be sent, received, exchanged, swapped, or staked. The number of cryptocurrencies supported by Ledger directly is over 500. You can access the full range of cryptocurrencies by downloading and installing third-party apps supported by the Ledger Live app. The Ledger Nano X allows you to download and install up to 100 crypto apps and is compatible with over 50+ third-party wallets.

Does the Ledger Nano X support NFTs? 

Yes, the Ledger Live app itself currently supports Ethereum and Polygon-based NFTs. To gain access to NFTs from other blockchains, you will need to download and install a third-party app to do so.

How much storage is on the Ledger Nano X?

The Ledger Nano X comes with 2MB of storage and can hold up to 100 cryptocurrencies and apps. The Ledger Nano S Plus can also hold up to 100 apps but comes with a much cheaper price tag—almost half the price. If you don’t need the larger screen or Bluetooth capabilities the Nano X has to offer, the Nano S Plus may be a better option for you.

Read a full comparison of the Ledger Nano X vs. Nano S Plus

Does the Ledger Nano X have a touchscreen?

No, the Ledger Nano X does not have a touchscreen display. To navigate through crypto transactions, use the two buttons on the side of the device. If this is a design feature that’s important to you, I would recommend the new Ledger Stax wallet which is due for release in March 2023. Or you can try the already existing Trezor Model T.

Ledger Nano X 2023 Review | Is Ledger a Safe Cold Wallet? - - 2024

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