In the thrilling world of cryptocurrency, security stands tall as the pinnacle of every crypto enthusiast’s checklist. From the modest Satoshi holders to the crypto tycoons hoarding coins worth millions, ensuring the safety of these digital assets becomes a top-tier priority.

That’s where hardware wallets like the Ledger Nano X and other Ledger products come into play, earning a special place in the hearts of crypto holders.

The Simplicity and Security of Hardware Wallets

Hardware wallets are the embodiment of simplicity and security. They store customer private keys offline, providing a barrier to remote access attempts. With no internet connection, these wallets make it practically impossible for cybercriminals to break in, keeping the crypto information of investors in cold storage.

Apart from storing user private keys, these wallets also handle transaction signing before they are added to the blockchain network. This two-step process bolsters the safety and simplicity of managing crypto assets.

Hardware wallets usually resemble flash drives, allowing customers to connect to the user’s computer similarly. Even if the hardware wallet is connected to a malware-infected computer or one under hacker control, the wallets cannot be affected. The reason for this phenomenon lies in the need for a recovery or seed phrase known only by the owner of the hardware wallet.

The History of Ledger

Founded in France in 2014, Ledger emerged as a prominent player in the crypto sphere. With a vision to build secure solutions for blockchain applications, the founders, hailing from diverse backgrounds such as engineering, internet security, and cryptocurrency, paved the way for Ledger.

Today, the company has grown, employing over 300 individuals and having offices in Paris, Vierzon, New York, Zurich, and Singapore.

Ledger’s product lineup includes three devices: the flagship product Nano X, its smaller counterpart Nano S, and the newly released Nano S Plus.

While the Nano S models are more affordable than the Nano X, they offer fewer features. However, they make a fantastic choice for those dipping their toes into hardware wallets for the first time and wanting to save some money.

The Ledger Live App – A Powerful Companion

Hardware wallets, despite their simplicity, require robust software to handle the complex side of operations. Ledger devices rely on the Ledger Live app for this purpose.

The app not only manages the coins and tokens stored on the device but also enables secure crypto purchases through partnerships with Coinify and MoonPay. An additional collaboration with Wyre provides US residents with extra buying options.

The app supports a list of over 5,500 coins and tokens. Moreover, Ledger also supports staking for popular Proof-of-Stake assets, offering a convenient way to earn interest on your crypto.

It is worth noting that Ledger cold wallets also support non-fungible tokens (NFTs). Ledger Nano X Hardware Wallet

The Nano X is a small, light device, weighing a mere 34 grams, which adds to its convenience.

A standout feature of the Nano X compared to its predecessor is Bluetooth connectivity, enabling control from the user’s phone. It is a marked improvement from the Nano S, which only allows computer access.

The Nano X also sports a larger built-in screen. While the Nano S could only store 3-5 wallet apps, the Nano X can hold up to 100. However, the updated Nano S Plus matches the Nano X in terms of app capacity and screen size but lacks Bluetooth and mobile compatibility. The Nano X also has a battery, making it operable without being plugged in.

Setting Up Nano X

Unboxing it, users will find the device itself, a USB Type C cable, an instruction booklet, a keychain strap, and three separate sheets for the recovery phrase.

Once unboxed, the first task is to connect the wallet to either computer or smartphone, using the provided USB cable or Bluetooth connectivity. Then, customers will be prompted to set up a pin code, an essential security feature to guard against unauthorized access. This is particularly useful if the Nano X ends up in the wrong hands.

Next, customers will be presented with the seed phrase. The latter should be written down and kept in a secure place. It’s recommended to have multiple copies stored in different locations. If the customers lose their seed phrase, accessing the hardware wallet will be impossible.

Once the security protocols are in place, customers can pair the Nano X with their device. If Ledger Live is already set up, customers can start transferring their coins onto the device.

Buying Ledger Nano X

To buy a Ledger Nano X, it’s best to go directly to the manufacturer. This is to avoid instances of fraud where thieves buy a device, note down the seed phrase, and then sell it.

The Nano X is priced at $149 (£136/€149), including VAT, and shipping is free. Discounts are available with a Ledger promo code at checkout. Despite being double the cost of the Nano S, the Nano X justifies its price tag with its extra features and enhanced storage.

In the world of cryptocurrencies, hardware wallets are equivalent to bank vaults. Ledger, with its cutting-edge technology and user-friendly approach, certainly leads the race in this arena.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
• Source: Plato Data Intelligence: PlatoData