Ledger Nano X is a hardware wallet and in this article, we will go over Leger Nano X Review and Comparison. Following the success of Ledger Nano S in the market, Ledger Labs introduced another hardware wallet, the Ledger Nano X, in its family of products. Ledger Nano X is an upgrade from the Nano S, but the question every prospective buyer would love to get an answer to is whether it is worth buying or upgrading to Ledger Nano X. In this brief review, we look at all that you need to know about Ledger’s second-generation hardware wallet, including the added features, design, and convenience vis-à-vis those of Ledger Nano S.
What is a hardware wallet?
A secure hardware device that stores a critical piece of information in the cryptocurrency verse, the user's private keys. This information is used to authorize all outgoing transactions on the blockchain network. Hardware wallets are popular as they never expose your private key to the outside world, not even to the computer they are connected to.
The pros and cons of Ledger Nano X
- Better/ improved display
- User friendly
- Sleek in design
- USB-C cable
- One must connect the device for all operations
- Multi-signature Support
- Device times out when inactive over some time
- Continuous development from Ledger
- Passphrase support
- More expensive compared to its counterparts
- Connection and disconnection orders unclear at times
- Does not validate the change address on the device itself
- They encourage users to reuse addresses indirectly
So, Is It Still Worth Buying Nano X? Ledger Nano X has some of the most important features added, which its counterpart Nano S lacks.
- Larger internal memory that holds more coins: Nano X has an internal memory of 2048kb, which can hold more coins, unlike its counterpart Nano S whose internal memory of 320kb is quite limiting. With this wallet, you will bid goodbye to the difficult task of installing and uninstalling apps on the older Nano S, which holds only about 4-5 apps. With Nano X, you can install up to 100 apps, which means it can hold the entire app library simultaneously. Even better is the fact that Nano X is compatible with practically every major crypto asset. It also supports new crypto assets released in the market.
- Multi-signature support: While most traditional hardware wallets rely on a single signature key where an individual can sign and verify a transaction, Nano X allows multi-signature support. Single keys may seem to give full autonomy to you as the owners of the funds, however, it can be very risky in reality. This is because it puts a lot of power in one little string of alphanumeric numbers (i.e., your private key). A multi-signature wallet like Nano X solves this problem. Multi-signature refers to requiring more than one key to authorize a crypto transaction. This type of signature is generally used to divide up responsibility for possession of crypto coins. The multi-sig technology fuels multis-signature wallets, which require an M-of-N signature. This is very useful in case you want to recover your funds when you lose your one key or if you are running a startup and don’t want to put the spending power in the hands of just one person.
- Bluetooth functionality & mobile support: Modern tech devices are becoming more minimalist, and Nano X is not left behind with its Bluetooth and mobile functionalities. You can transact with your crypto without plugging in your hardware wallet to your computer every time.
- Priority software and firmware updates: Ledger Nano X is Ledger’s latest product, and the company prioritizes its updates every time they roll out new improved features. This makes it a good purchase because you are likely to receive better support than those with Nano S.
Ledger Nano X is priced at $149, which is almost 3 times the price of the Nano S counterpart selling at $59. It means that if your budget allows, you can enjoy new updates, hold a large variety of coins, and make use of Bluetooth or wireless services of Nano X.
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