Ledger Nano X Review: Ledger Nano X or Trezor Model T?
Fresh 2020 Ledger Nano X review. Leading hardware wallets comparison, Ledger Nano X vs Trezor Model T. We give you the pros, cons, and our final verdict.
About Ledger Nano X
When Ledger, a French blockchain technology company, was formed in 2014 by a close-knit team of eight encryption and security experts, no one could predict that Ledger would grow into the biggest success in the blockchain industry in less than five years, with 130 employees, sold more than 1.5 million unique hardware wallets.
Ledger Nano X review 2020
As many people will remember, 2014 was also firmly rooted in the minds of cryptocurrency investors. This year witnessed the most notorious hacking incident in the history of blockchain, which occurred in mt. Gox exchange. More than 744,000 bitcoins were lost, so 2014 became an important year for digital asset security.
The purpose of Ledger is to provide a secure storage solution for private keys of encrypted assets to deal with further loss of funds. Initially, two hardware wallet products were launched, namely the flagship product Ledger Nano S and the larger Ledger Blue, which has Own touch screen interface.
Ledger Nano S is a stylish device, only the size of a traditional USB memory stick, weighing only 16.2 grams, has become the best-selling hardware wallet on the market, and has become the largest product of Ledger, with more than 1.4 million sales worldwide.
Building on success of the Ledger Nano S, the Ledger team has launched a new product that touts the most advanced security architecture Ledger has built so far and has greater user mobility than its popular predecessor Ledger Nano S. Ledger’s new Nano X model uses absolutely cutting-edge technology in cryptocurrency storage and transmission solutions and draws on the capabilities of its Ledger Blue and Nano S models.
Ledger Nano X and Ledger Nano S
Tradecryptopro.com, compared Ledger’s latest technology with leading hardware wallet competitor Trezor Model T, to check how the Ledger Nano X has performed in the competition. However, first, let’s take a look at features and specifications that users expect to find with the new Ledger Nano X cryptocurrency hardware wallet.
Ledger Nano X hardware wallet features
Don’t let appearances deceive you. Although the appearance is similar to the Ledger Nano S, the Ledger Nano X has undergone a complete technical transformation and has adopted some serious technologies under the hood.
Ledger Nano X is neat looking device
Most notably, the Ledger Nano X now has its own battery compared to the Ledger Nano S which can only be run after being plugged into a computer, so it can be used wirelessly anytime and anywhere. Screen resolution is much better than on the previous model.
Ledger Nano X and Ledger Nano S comparison
Compared with Ledger Nano S, this is a brief introduction to the core functions of Ledger Nano X:
|Ledger Nano S||56.9×17.4×9.1 mm||16g||None||ST31H320 (secure) + STM32F042||USB Type-C||~$60|
|Ledger Nano X||72×18.6 x 11.75 mm||34g||100mAh||ST33J2M0 (secure) + STM32WB5||USB Type-C + Bluetooth||~$119|
Ledger Nano X is not only better in hardware, but also looks more fashionable than its predecessor. At first glance, the Ledger Nano X has a similar hinged metal cover and default black housing design, retaining its compact and practical beauty. However, once the user turns on the device, they will notice that the buttons on the side have been removed and replaced by more function buttons on both sides of the screen, with the left button cleverly hidden in the hinge of the lid. This gives the wallet a more simplified feel and is more ergonomic.
Unboxed Ledger Nano X
Larger screens and smaller bezels also make the Ledger Nano X an easy-to-use all-round device and easier to browse assets than ever before – this is important because, as we will discuss later, Nano X allows users to store private keys on a single device containing 100 assets.
Bluetooth functionality and security on Ledger Nano X
Adding a Bluetooth functionality is a controversial move from Ledger. Ledger Nano X uses Bluetooth Low Energy (BLE) connectivity. Compared to previous versions, the device can be connected to iOS and Android devices without using a physical cable. Bluetooth is what has caused criticism from some cryptocurrency users who believe that Bluetooth integration is a potential attack vector and an available function of new hardware wallets, which they claim may damage the security of user funds.
As you might expect, Ledger, who is proficient in cryptographic security business, totally disagrees with these concerns. For beginners, the built-in Bluetooth of Ledger Nano X is not the same as other devices. On the contrary, Ledger Nano X adopts AES-based encryption and implements the latest Bluetooth protocol.
To further expand, the Bluetooth connection is only used as a transport layer for public information, and the user’s private key and seed phrase are never exposed through the Bluetooth stack. When the transaction is indeed conducted via Bluetooth, users can carefully check transaction details and manually approve the transaction request by pressing the button on their Nano X device.
In short, no transaction signature will be issued without user consent. With the elimination of potential security risks, the new battery-powered Ledger’s Bluetooth function may change the way users use the Ledger Nano X to transfer cryptocurrencies through the Ledger Live mobile app.
Ledger Nano X Bluetooth functionality
In essence, users can enjoy all the benefits of mobile hot wallets, such as sending and receiving encryption on the go, and the security guarantee of traditional offline hardware wallets.
Still not convinced? Ledger reminds users that if they don’t want to use the Bluetooth function, they can turn the hardware wallet into a USB C-type connected device just like the previous device by turning off the Bluetooth function completely.
Ledger Live App
Ledger Nano X has the out-of-the-box function of the Ledger Live app, which is an all-in-one interface for managing cryptocurrencies. Through the application, users can access multiple types of digital assets, which can be stored on the new Ledger Nano X device.
The Ledger Live application provides real-time balance reports in the user’s domestic fiat currency and provides simple transactions. Crucially, for Ledger Nano X, users can easily install applications for new cryptocurrencies on their devices.
Unless you tend to hold the most obscure digital assets, the ledger will most likely support your favorite cryptocurrency. The largest cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) have obvious features, but Ledger Nano X also supports more than 1,100 other digital assets. If you want to hedge multiple cryptocurrencies, Ledger Nano X allows up to 100 separate digital applications to be installed on one device at the same time.
Trezor Model T vs Ledger Nano S
We have studied the main differences between the Ledger Nano X and Ledger Nano S, but how does Ledger’s latest device compare to the hardware wallet provided by the closest competitor?
Trezor is undoubtedly Ledger’s closest hardware wallet competitor. Although it has never publicly disclosed its sales data, sometimes Trezor models are out of stock due to high demand. Traditionally, the crypto world has two distinct camps, the minimalists of Trezor and Ledger, so these are the two brands with the best hardware wallets. Ledger like a Trezor also made its debut in 2014, established by development and software company SatoshiLabs. Trezor T is Trezors’ advanced hardware wallet, based on its original Trezor One wallet.
To sum up, these are the advantages and disadvantages of Ledger Nano X and Trezor Model T:
|Trezor Model T||Ledger Nano X|
|Security||Fully Open SourceDoesn’t insist on passphrase settingDoesn’t feature a secure element chip||Features a CC EAL5 + chip for storing private keysBluetooth encrypted with AES Open source apps. Non open source device code|
|Connectivity||USB-C cable for desktop and mobile devices||USB-C cable for desktop and mobile devicesLedger Live app for mobile devices Bluetooth connection|
|Supported coins||Support for over 1,000 cryptocurrencies||Support for over 1,000 cryptocurrencies|
|Appearance||A full colour touch screen Large plastic body, no cover unless purchased separately||New powered displayPremium designNo touchscreen|
|Price||More expensive than the Ledger||Reasonably priced in|
Ledger Nano X seems to provide more features in terms of security. Trezor’s commitment to open-source code may make it a favorite of some technology-centric users, but its price is bit higher.
Ledger Nano X can indeed become the most advanced hardware wallet on the market, and it is unlikely that it will be removed from the podium anytime soon. If Nano X can reflect the success of the sales of its predecessor Nano S, Ledger will find itself a big winner of the crypto hardware wallet company.
Some members of the blockchain community may need to be more convincing that Ledger’s new Bluetooth low energy technology don’t cause a security risk.
Once Ledger Nano X proves its usefulness, it is likely to become one of the most popular hardware wallets in history.