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Everything You Need to Know About Ledger Nano X

Updated: Apr 10



Ledger Nano X is the newest wallet by Ledger. The primary idea behind the device is to make it easier to store and secure Bitcoin and other crypto assets. The wallet is designed simply and can be understood by beginners as well. Many people call it the smoothest hardware wallet ever.


The Ledger Nano X is a Bluetooth enabled device that securely stores private keys. You get state-of-the-art security with this hardware wallet since private keys are isolated inside the certified secure element (CC EAL5+) in the device. This chip is used by some other highly secure applications, such as passports and credit cards.


Pros

  • Large screen

  • Ergonomic buttons

  • Multi-signature capabilities

  • Increased app capacity

  • Easy mobile usage


Cons

  • Expensive

  • Bluetooth is vulnerable

  • Closed-source


What Coins Are Supported by Ledger Nano X?


Ledger is known to support the most diverse range of cryptocurrencies, including NEO, Vechain, and Monero. Ledger Nano X supports over 1100+ digital assets, some of which are not found with its major competitor Trezor T or KeepKey.


Step-by-step Guide for Setting up Ledger Nano X




This easy guide will have your Ledger Nano X device configured in no time.


Step 1: Ledger Live


Install the Ledger Live app on your mobile phone. It is available in both the Apple store and Google Play store. Run the app to see a welcome screen. Click the button that says Getting Started. The app will ask you to pick a device. Select Ledger Nano X. You will see the following four options:

Import desktop accounts

Initialize as a new device

Restore from recovery phrase

Use the initialized device

Select option number 2 if this your first time with the Ledger Nano hardware wallet.


Step 2: Initializing your device


You would be asked to fire up your Nano X device. There are two big round buttons on the side - one black and one grey. The box doesn’t give any instructions about how to use the device. Just asks you to download the Ledger Live app and follow instructions.


You would need to click the right button to continue. There will be certain on-screen instructions that would follow. If you want to confirm or accept anything, you would have to click both buttons together.


You would get a message saying Set up as a new device when you have walked through all instructions. Again, click both buttons to start the setup process.


Step 3: PIN code


Enter a PIN of 4 to 8 digits. This is your passcode to your device. Make sure you don’t forget this. Use the left and right button to browse up and down in the numbers menu. Press both buttons together to confirm a number.


Step 4: Recovery phrase


Nano X will prompt with a recovery phrase next. This phrase will contain 24 words, which function as a key to your device. Anyone with this recovery phrase can gain access to your device and steal all your assets. Once you are done writing the phrase down exactly as you see it, you can click Continue.


Nano X will take you through a short quiz session to ensure that you got all the words down in the correct sequence. You will see a message saying your device is now ready if you have done everything correctly.


Click the right button to continue. The screen will show the Access Dashboard. To enter the dashboard you need to press both buttons together.


The device initialization is now complete. But, you still need to connect it with the Ledger Live app.


Step 5: Connecting Nano X and Ledger Live


Pick up your phone and access the Ledger Live app. It would ask you to continue from where you left off.


You will see some additional information about the backup codes. Click continue since you have already been through these in the device. You will need to answer some security questions next. If you proceed correctly you will see a picture on your Ledger Live app. Make sure you enable Bluetooth on your phone before you continue.


Connect the devices by clicking on Add new Ledger Nano X. It would take up to 10 seconds for the Live app to connect to your Nano X.


The app will ask you to input a password. This is not your device PIN. Create a separate password. This is to maintain security if you ever lose your phone.


Step 6: Creating accounts


That’s it. Your Ledger Nano X is not initialized and connected to the Live app. Now, all you need to do is create a crypto wallet.


Open the Live app and select Manager from the footer menu. Select your Nano X device from the options. You will see a list of all crypto coins supported by Nano X. Begin the installation, which should not take more than a minute.


You will see a small app icon for the crypto on your Nano X. Access the Live app and click Go to accounts. The app will prompt you to open the crypto app from Nano X. This will begin the synchronization process.


The Ledger Nano X setup is now complete!



How Is the Ledger Nano X Design?


Ledger Nano X has a larger screen and a more sleek design. There are two large buttons hidden in the circular design. The screen also has a better resolution allowing addressed to be displayed without scrolling.



Nano X vs. Nano S

There are several additional features in the Ledger Nano X that are not available with Nano S. Nano X can hold up to 100 apps as compared to the 4 – 5 apps in Nano S. Nano X also has Bluetooth support. The buttons are more ergonomic with a stronger build.

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