Ledger Nano X is Ledger’s new generation hardware wallet. Ledger Nano X allows users to manage their cryptocurrencies anywhere with its bluetooth feature and store up to 100 coins at the same time.
Ledger Nano X is a great hardware wallet especially for traders and dapp users. In this article, I’ll explain why you should have a hardware wallet in the first place and why Ledger Nano X is the best cryptocurrency wallet for traders and dapp users.
Why you need a hardware wallet?
If you are a trader and store your coins on the most trusted exchanges like Binance and Coinbase, you will likely to be fine even if such big exchanges get hacked. But, once you deposit your cryptocurrencies into centralized exchanges, you no longer own them.
Many people use MetaMask, MyEtherWallet and desktop wallets. Considering how much cryptocurrency lost to hacking attacks so far, you should really not be typing your seed phrase or uploading keystore file online or even on computer.
If you have a hardware wallet like Ledger Nano X, you can also use MetaMask and MyEtherWallet securely with your hardware wallet. Thanks to the secure chip that stores and protects your private keys, you don’t need to worry about external threats with a Ledger Nano X.
Users use such software wallets like MetaMask without ever experiencing problem and they are indeed secure for an average user.
But, when it comes to keeping coins and tokens on your own wallet, you always need to be careful, any hacking attacks whether related to your computer, mobile device or the exchange / dapp you use may end up with an emptied wallet and leave you with no fund as well as no hope.
But, always watching out for risks and threats is practically not possible for any person, be it a techie person or not, and not worthwhile while there are hardware wallets like Ledger Nano X which will take care of the security of your private key and allow you to focus on other things while trading cryptocurrencies and using dapps.
Ledger Nano X features – Why Ledger Nano X is the best wallet for traders and dapp users?
Certified secure chip
The private key and the seed is stored in the secure chip. Isolated private keys are never exposed to the internet or any device such as computer the wallet is connected to.
The only thing that you need to do protect your cryptocurrencies is keeping the recovery seed in a safe place, which you will use to access your funds or recover your wallet if it is stolen or damaged.
The point of switching to a trusted hardware wallet like Ledger is about leaving fear of hacks behind as we mentioned above. What most people in the crypto need is not a trusted wallet but not needing to trust it. You probably realized how messy the crypto space is, and serious too, there is no turning back after you are hacked.
Using Ledger Nano X with dapps and MetaMask
Ledger Nano X is one of the best cryptocurrency wallets to access dapps. You can use your Ledger Nano X to access and use many dapps such as DeFi applications, decentralized exchanges and blockchain games.
Using DeFi apps with Ledger Nano X
Ledger Nano X is compatible with most DeFi applications. With a Ledger Nano X, you can securely access and use many popular DeFi apps such as Compound.
Using Ledger Nano X with decentralized exchanges – Ledger Nano X compatible decentralized exchanges
For the most popular decentralized exchanges that support Ledger Nano X, check out this list.
Using Ledger Nano X with blockchain games
Just connect your Ledger Nano X to your MetaMask wallet and play blockchain games or use any kind of dapps.
You can make transactions, send and receive ERC 721 tokens securely with MetaMask while your private key is safe in your hardware wallet.
Ledger Nano X supported coins
You can store up to 100 coins at the same time among 1100+ supported cryptocurrencies in your Ledger Nano X wallet.
Some of the supported coins by Ledger Nano X:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- EOS (EOS)
- Binance Coin (BNB)
For all of the supported coins and tokens by Ledger Nano X, check out this list.
Ledger Nano X price
Ledger Nano X costs $119 USD (VAT not included), it also includes free shipping.
If you are a resident of an EU country, Ledger Nano X will cost you €119, and shipping and VAT are included in the price.
Ledger Nano X prices in different countries
If VAT is not included in the Ledger Nano X price, Ledger Nano X price might vary depending on the country you live in and the local currency.
To check out the Ledger Nano X price, just go to Ledger’s website while your VPN is disabled (if you use one).
Does Ledger support ERC-721 tokens? Storing ERC-721 tokens on Ledger Nano X
As Ledger Nano X is compatible with wallets such as MetaMask and MyEtherWallet, you can easily view, manage and transfer your ERC-721 assets using external wallets.
It is currently not possible to manage ERC-721 tokens in Ledger Live. But, you can store ERC-721 tokens in your Ledger Nano X and manage them using MetaMask.
Ledger Nano X bluetooth feature
Ledger Nano X allow users to manage their cryptocurrencies anywhere they go with its bluetooth feature. You can make transactions, install & remove assets and discover apps anywhere with Ledger Live app, which is available on iOS and Android.
Encrypted bluetooth connection between your wallet and Ledger Live app only involves public data. Private keys never leave the device or exposed.
Hardware wallet mobility matters. You can manage and transfer your cryptocurrencies everywhere with Ledger Nano X.
Besides that, mobile dapps are no longer a big deal, you can already access many dapps and even trade them on crypto collectible marketplaces such as OpenSea with Trust Wallet, Coinbase Wallet or MetaMask. So, you can also enjoy security on your mobile device by using Ledger Nano X in conjunction with such mobile Web 3 DApp browsers.
In short, Ledger Nano X is one of the best hardware wallets and a must for cryptocurrency traders and dapp users. If you don’t have a hardware wallet, you should definitely consider getting a Ledger Nano X to avoid future regrets.
Ledger Nano X unboxing
Ledger Nano X comes in a small package and includes the following: A Ledger Nano X, a USB C cable, a keychain for the device, 3 recovery sheets, a user guide and Ledger stickers.
Ledger Nano X vs Trezor Model T
In terms of security, both Ledger Nano X and Trezor Model T are the most secure hardware wallets in the market.
Trezor Model T has a touchscreen which is a cool addition to the hardware wallet. If you are interested in the touchscreen feature and open source devices, you may get a Trezor Model T.
You can safely store and transfer cryptocurrencies with a Ledger Nano X or Model T. But, Ledger Nano X, with its bluetooth feature and compatibility with exchanges, wallets etc. is a more useful device for those who are interested in dapps.
It is also possible to use Trezor Model T to access and use almost all Ethereum dapps through MetaMask integration. Overall, both hardware wallets are very secure, ultimately which one you should get is up to what you will do with a hardware wallet.
When it comes to price, Ledger Nano X is no doubt the best option among all hardware wallets considering other factors as well. Ledger Nano X costs $119 dollar while Model T costs 149 EUR. If you prefer buying Model T, you’ll be paying for the touchscreen feature which does not make sense me to me.
Check out our Trezor Model T review for more information:
Ledger Nano X vs Ledger Nano S
The problem with Ledger Nano S is that you can’t store more than 18 apps at the same time. You need to delete existing apps to install new ones to overcome this problem, which might be annoying for some users.
If you don’t want to deal with such problems and are interested in Nano X’s bluetooth feature and increased capacity, you should get a Ledger Nano X.
But, if you are ok with it and want a cheap hardware wallet that would protect your cryptocurrencies, you can get a Ledger Nano S.