Ledger Nano X Review

The Ledger Nano X is a hardware wallet designed to store crypto assets securely, including Ethereum and ERC-20 tokens. It was released by Ledger in early 2019 as an upgrade to the popular Ledger Nano S.

Overview

The Ledger Nano X provides cold storage and secure access to the Ethereum blockchain. Its key features include:

  • Secure element (ST33 chip) to protect private keys
  • Bluetooth connectivity to use with smartphones
  • Support for over 1500 cryptocurrencies, including Ethereum, ERC-20 tokens, NFTs
  • Easy to set up and use with Ledger Live mobile and desktop apps
  • Robust build quality with 100% French design and engineering

With the Nano X, users can safely store, send, and receive ETH and other assets directly from their smartphone or PC without exposing their private keys. The private keys are stored only in the secure element chip on the device. Even if your phone or computer is compromised, your keys remain secure.

Using with Ethereum

To set up the Nano X for Ethereum, simply go through the onboarding process in the Ledger Live mobile app. This involves setting a PIN code, noting down the 24-word recovery phrase, and installing the Ethereum app on the device.

Once set up, you can receive ETH by clicking the “Receive” button in Ledger Live, which displays your public wallet address for deposits.

To access your ERC-20 tokens or NFTs, you’ll need to connect the Nano X to MetaMask or another dapp browser. The device will then prompt you to confirm transactions via the buttons and display. This keeps your keys safe while giving the dapp limited access to sign transactions.

Ledger Live also supports interacting with some DeFi protocols for basic actions like lending and borrowing. But for more advanced DeFi use, a connection with MetaMask is required.

Security

As a hardware wallet, the Nano X provides excellent security for Ethereum and crypto assets in general. The private keys are stored on the certified secure element chip and never exposed to any connected device.

The PIN code on the device prevents unauthorized access if someone gets physical possession of the Nano X. Additionally, the recovery phrase gives you a backup to restore your keys on a new device if needed.

Ledger’s proprietary operating system (BOLOS) is also extensively audited for vulnerabilities, protecting the Nano X against sophisticated attacks.

So you get the security of cold storage with the convenience of a connected wallet for managing Ethereum and assets on the go.

Cost

The Ledger Nano X retails for about $149 excluding taxes or duties. This is towards the higher end compared to other hardware wallets.

However, given the quality of security and convenience features like Bluetooth support, the cost can be well worth it for Ethereum power users or large asset holders.

The price tag makes the Nano X more suitable for higher value portfolios compared to basic options like the Ledger Nano S or Trezor One.

Verdict

Overall the Ledger Nano X achieves its goal of providing uncompromising security in a convenient connected package for Ethereum and other crypto assets.

While the user experience has some rough edges, Ledger continues working on improvements with firmware updates and Ledger Live enhancements.

For investors with medium to large Ethereum holdings, the peace of mind and mobile flexibility provided by the Nano X is compelling. It’s the top choice among hardware wallets for use with Ethereum today.

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