What this guide will teach you:
Everything to know about the Ledger Nano X and Nano S Cold wallets.
Things to know before commenting on this guide:
No prior knowledge is needed before reading this article.
A Little Bit of History… What is Ledger?
Ledger is a leading French start-up in the cryptocurrency industry. The company was founded in 2014 and has since experienced amazing success in the crypto space. Ledger offers two cold wallets: Nano S, created in 2014, and Nano X, launched in 2019.
With over 1.5 million active users, the Ledger hardware wallet is a popular multi-currency wallet due to its high security and offline asset storage. The wallet can store cryptocurrencies and trade NFTs by connecting to marketplaces via Ledger Live.
The Different Types of Ledger Wallets
The Ledger cold wallet is a must-have tool for investors in the cryptocurrency space that offers premium security of crypto assets and funds. The company markets two versions of its crypto storage portfolio: Nano S and Nano X. Here’s what they look like and how to use them.
The Ultimate Guide on How to Use Ledger Live and Ledger Nano S/X
Ledger cold wallets are a way to store your cryptocurrencies offline on physical media, such as a USB key or hard drive. The wallet provides an extra layer of protection against crypto hackers and thieves. What sets the Ledger cold wallet apart from other crypto wallets is that your digital assets are not connected to the Internet, so no one can access them from a computer.
There are two main types: paper and hardware. Paper wallets can be printed from your computer, while hardware wallets plug into your PC’s USB port. Hardware devices generally offer more features than paper wallets, but they are also more expensive to purchase.
The major concern of cryptocurrency owners and investors has always been the security of their crypto portfolio because they are not protected by any specific organization. It is typically up to you the user to ensure the security of your wallet. With the Ledger hardware wallet, your assets remain offline and therefore out of reach of hackers of all kinds. You can think of the Ledger crypto wallet as your very own private bank.
- Low fees
- One of the largest crypto exchanges
- Fee discount for using native BNB
A Minimum Investment for Serious Investors
As a crypto investor, purchasing a cold wallet is considered a rather small price to pay for invaluable security. The ownership of this tool opens up the doors to all markets and allows you to launch yourself seriously and professionally, without any fear of total loss of assets.
Obviously, there are already well-secured desktop wallets or mobile wallets that can be used on your computer or your smartphone. However, only the wallet that allows the backup key to be taken offline truly protects you from any risk and gives you complete peace of mind.
Nano S vs Nano X: Ledger Wallet Review
Before we get into the difference, you should know that Ledger’s two cold wallets share a few things in common:
- Both Ledger wallets allow you to manage 27 assets and ERC20 tokens using the Ledger Live App, whether from your computer or a smartphone. They are also compatible with more than 50 wallets and up to 1,100 cryptocurrencies.
- With the use of Either of these Ledger wallets, safety is guaranteed:
- by Pin code;
- the secure assets are CC EAL5+ certified;
- certification is ensured by ANSSI (National Agency for Information Systems Security);
- a recovery phrase containing 24 words.
Ledger Nano S vs Ledger Nano X
The first difference between the two devices is their connection: Nano S establishes a wired link via USB cable with your computer, while Nano X communicates via Bluetooth (you can however keep a traditional cable connection).
Another major difference is the number of applications that can be stored on the device. The Nano S and Nano X supports up to 20 and 100 applications. The precise number of apps that the devices can store depends on the size of each app.
While Ledger is known for their security, the chip on the Nano X assures more security than that of its Nano S counterpart. The Nano S integrated an ST31 chip, while that of Nano X is an ST33.
The Nano X is also more pleasant to use, with a larger, easier-to-read screen.
Naturally, due to the improvements made to its Ledger cold wallet, Ledger markets Nano X at a higher price than Nano S.
Let’s highlight some key differences between these two wallets in the Ledger wallet review below:
|Ledger Nano S||Ledger Nano X|
|Capacity||3 to 20 applications installed (depending on the size of each application)||Jusqu’à 100 applications (en fonction de la taille de chacune d’elles)|
|Connexion||Via USB Port||Bluetooth avec Ledger Live Mobile ou par port USB|
|Connector||USB Type-B||USB Type C|
|Screen Size||128 x 32 pixels||128 x 64 pixels|
|Dimension||57 x 17,4 x 9,1 mm||72 x 18,6 x 11,75 mm|
|Weight||16,2 g||34 g|
What is Ledger Live?
Ledger Live is an application (compatible with computers and mobile phones) that allows you to easily install or uninstall cryptocurrency applications, otherwise known as DApps, on the Ledger Nano S wallet. As a user of the Ledger Live platform, you can configure the applications as you wish and protect your private keys. Your account remains safe, even if you delete the application.
Follow the link to find complete instructions on how to use the software and hardware wallet.
Do I need a subscription to use the Ledger wallet and services?
No. You only pay once for the Ledger hardware wallet. After your initial purchase, you will always have access to all its features and associated software.
The Ledger Nano S wallet only has two buttons. How to use it?
The Ledger Nano S hardware wallet has two buttons. They can be pressed individually or simultaneously. Pressing the buttons simultaneously can be used to confirm transactions and open applications. Alternatively, by pressing the buttons individually, you can navigate the wallet interface.
I purchased an initialized Ledger Nano S. What do I do?
Never use cryptocurrencies that come with a recovery phrase and/or a predefined PIN. It is not safe for your crypto assets. If such a wallet is sold to you, please contact Ledger Support immediately.
Managing Altcoin Portfolios
The list of assets supported by Ledger is constantly expanding to include new cryptocurrencies. The Ledger wallet allows you to directly manage: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Dash, Ethereum Classic, Zcash, Dogecoin, Bitcoin Gold, Qtum, Digibyte, Komodo, Stratis, Peercoin, and Horizen.
If you currently hold crypto in your portfolio that is supported by Ledger Liver and are not under any direct asset management, visit the Ledger website for specific guidance on how to proceed depending on the type of the crypto asset.
- Wide range of cryptocurrencies
- Low fees
- Over 160 trading pairs
Step-by-Step Guide on How to Use Your Nano S Cold Wallet
Step 1: Initialization
Connect your Nano S to your computer via the USB cable with both buttons facing up.
- Click both buttons simultaneously, twice in a row, to obtain the message “Set up as new device?”.
- Press the right button to initialize your PIN code, then press the right button to display the first number.
For each number:
- click on the left button to decrease the number and on the right to increase it;
- Press both buttons simultaneously to confirm and move on to the next digit.
Your PIN code must contain between 4 and 8 digits. Confirm your PIN code by entering it once more. Your 24-word recovery phrase will now be displayed on the screen. In the event that your device is stolen, lost, or faulty, the 24-word phrase must be submitted in the right order to recover your funds. As a precaution, write down the phrases in the correct order on the “Recovery Sheet” provided by Ledger, and store in a secure place.
At the end of the process, click on both buttons, then confirm your recovery phrase.
The device will display processing and then you will receive a “Your device is now ready” message when the process is finished.
Step 2: Installing the Ledger Live Application
- Go to the Ledger Live page to download the app.
- Connect your Nano S by USB cable, then click on the instructions: “Get Started”, then “Use as an initialized device”, and finally “Ledger Nano S”.
- Confirm “Yes” for numbers 1 and 2 on the “Security checklist” page, then “Check Now” to “Is your Ledger device genuine”. Click on the right button to move to the next step.
- At this point, you have the option to create a password that allows you to access the application. This is not compulsory.
Step 3: Add Wallets and Create Crypto Accounts
You can wallets from the “Manager” function and add crypto accounts by selecting the “+” command on the Ledger Live app.
Select the asset you want to add from the drop-down menu. The right and left buttons allow you to navigate to the wallet and then select it by clicking both buttons.
By clicking on “Add accounts”, Nano S automatically detects funds during blockchain synchronization and allows you to recover your wallets. When doing this, you need to check the receiving address that appears on the app when you click “Receive”.
This address must be provided to receive funds, as well as to purchase crypto assets. To send funds, select the “Send” button, and enter the recipient’s address and the amount. A confirmation will be sent to you once you have clicked to validate the transaction.
How do I change my PIN Code?
To change the PIN of your Ledger Nano S wallet, firmware version 1.3.1 or higher is required.
Connect your wallet to your computer using a USB cable and enter the PIN code. Go to Settings > Security > Change PIN. Enter a new PIN and confirm it the same way you did when initializing the wallet. Make sure that you memorize the new PIN code, or store it in a secure place.
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