Ledgerwallet Nano X Review
1. Overview of the hardware wallets
A hardware-wallet is a small device, the private key for your Crypto Currency stores.
Even if you want to send money so from this unit, it signed the transaction on the device itself and not on a computer, with which it is connected. These are so-called "Cold Wallets"
For this reason, it is possible, to connect their hardware wallet with each compromised computer, without running the risk, reveal your private key.
This makes hardware purses to a very popular choice for storage of crypto-currencies as opposed to software Wallets, who are constantly connected to the Internet (also known as Hot Wallets).
If you are new to the crypto Money wallet, I suggest, to watch this video, to obtain a complete overview of the topic:
2. Ledger and the Nano X
Ledger is one of the largest hardware wallet company, available today (the other is Satoshi Labs, the TREZOR manufactures).
The company was 2014 founded and is the leader in security- and infrastructure solutions for crypto-currencies and block chain applications.
Ledger has a team of over 130 professionals. They specialize in the development of a variety of products and services for the protection of crypto-currency assets. The latest product is the Ledger Nano X.
The main difference of Nano X to previous models is its Bluetooth connection, which allows, to control it via a mobile phone and not only from a desktop computer.
3. My experience with Ledger Nano X
I'm a really big fan of Nano S (the previous model Ledger), so I was expecting the arrival of the Nano X awaited. The mobile support was probably the last feature, was missing, to make it a truly perfect hardware wallet.
What's in the box?
The Nano X is beautifully packaged with the device itself, a USB cable C, delivered a manual and the recovery Seed Cards. The previous bulbous knobs, which were located on the top of the unit, are now seamlessly integrated on the device, can so that they are difficult to perceive. All in all a nice design.
Setting up the Nano X
There are different phases, you have to go through, to your Nano X set.
step 1 - Setting a PIN code
When you turn on the device for the first time, You will be asked, a 4-8 digit PIN code to choose. You can switch the buttons between the digits, while "Enter" by simultaneously pressing both buttons is achieved.
step 2 - Write your "Seeds" on
The Seed password as the password for your bank account. It's something that you should never give out another person.
When initializing the unit, please contact 24 words, you should write down on a piece of paper and store. If the device is lost, broken or stolen, you can get your money using your phrase
step 3 - Pairing the Nano X with your mobile phone
Previous versions were ledger than just about the "Ledger Live" controlled familiar desktop software. The Nano X can also be controlled via the mobile application Ledger Live.
The coupling of the device should be fairly simple and straightforward, but unfortunately this is not the, what I have experienced.
Almost every time, if you perform an action on the app, You have to wait for the Bluetooth connection and approve the action on the device itself.
In many cases, the unit displays the option "Approve" not to, and you have to wait only a few seconds, automatic approval to the action.
step 4 - Installing Apps
Once the device paired and ready, You can install it according to the different applications to use coins.
step 5 - auxiliary accounts
This was by far the most confusing step for me. After I Bitcoin app installed, I was sure, I was ready, to go. Apparently, one must also be a Bitcoin account on the Add Device, and is not mediated via the user interface.
Once I have the Nano X set up and used for a while, I must say, I have mixed feelings about the device. On one hand, this is definitely an upgrade from previous models and other hardware Wallets.
On the other hand, the interface is not as intuitive, as I would like to, and the Bluetooth connection seems to impede every action.
Perhaps these are the result of technical limitations, that I have not known, but if this product is intended for the general public, it must ultimately be a little more polished.
4. Ledger Nano X Compatible Coins
The Ledger Nano X supports over 1000 Coins and tokens. The main coins can be sent / received via the Ledger Live software interface. Here is a list of the most supported coins:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Bitcoin gold (BTG)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Stellar (XLM)
- Ripple (XRP)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Zcash (ZEX)
- Dash (DASH)