Hardware Wallets
Ledger Nano X Review – A Secure Hardware Wallet for Advanced HODLs
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Among hardware wallet manufacturers, Ledger remains one of the most popular. The company boasts a lineup of these devices, with the Ledger Nano X acting as the middle ground between the ‘Nano S Plus' and the premium ‘Stax'.
The Nano X is perfect for advanced cryptocurrency investors who are looking to protect their digital assets. When it comes to quality, functionality, and security, this is comparable to Trezor’s Model T but with a slicker design. This review will analyze its design, functionality, and, most importantly, security.
What is the Ledger Nano X?
The Ledger Nano X is a premium version of the Ledger Nano S Plus. This device is extremely compact, and it can easily fit in your pocket, which makes it perfect for traveling.
The first thing you’ll notice is that the device has an inscription which reads ‘vires in numeris’, this is Latin for ‘strength in numbers’. This is in reference to the cryptographic security contained in the device.
This device is an advanced option to keep security accessible for anyone with cryptocurrency, offering multiple security features and an intuitive-to-use interface.
The Ledger Nano X supports over 1,000 cryptocurrencies; this includes major tokens like Bitcoin, Bitcoin Cash, Binance, Dash, Ethereum, EOS, Litecoin, Monero, Ripple, and many more.
Ledger Nano X: First Impression
Nano X comes in a simple package, and the box contains the device itself, 1 USB cable, one keychain and a key ring, and multiple recovery sheets for writing down the seed phrase.
The advantage of this device is how it does not stand out, from a distance most people would assume it is a simple USB stick.
Operating the Ledger Nano X
Whether you are an advanced digital assets holder or a novice, you do not need to be worried. The instructions provided in the package are simple and guide you on how to set up the Ledger Nano X.
What you should always remember is to write down the recovery seed on the provided recovery sheet and save it in a safe place. It is recommended that wherever you save it, you choose to save two backups of the recovery seed. Many opt to both write this on paper, along with using a device such as Cryptosteel, storing each in a secure location. For those who are unaware, the recovery seed is what you need to access your funds in the scenario where the device is either damaged or lost – it is your final safeguard against losing access to your assets.
Again, the entire process is simple: connect the Nano X to your computer, access the Ledger website, and install Ledger Live. From there you click on ‘Initialize a new Ledger device’, and you are on your way.
Ledger Nano X: Security Features
Ledger takes security seriously, offering the CC EAL5+ Security. What this means:
CC: Stands for common criteria for Information Technology Security Evaluation. This is based on an international computer security certification standard (ISO/IEC 15408). When it comes to a particular product, it must meet the base standards of the common criteria.
EAL: The Evaluation Assurance Level is a category ranking assigned to an IT product or system after a Common Criteria security evaluation. The five levels of EAL are:
- EAL1 — functionally tested
- EAL2 — structurally tested
- EAL3 — methodically tested and checked
- EAL4 — methodically designed, tested, and reviewed
- EAL5 — semi-formally designed and tested
Ledger ensures that all of its hardware wallets, including the Nano X, are fully certified on the market by the French cybersecurity agency ANSSI.
Another security element is the device does not arrive with pre-installed software– that’s installed during the set-up process. It is PIN-protected and allows you to label your device and customize the home screen to make it unique to you. You will install Ledger Live software during the sign-up process.
Summary
The Ledger Nano X is a great way to protect your cryptocurrency by offering all of the advanced security solutions that you would find with its direct competitor, the Trezor Model T. The safety of this device and the fact that it resembles a simple USB stick make this device a popular favorite for members of the cryptocurrency community.
