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This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
Feel free to write to us:
A wallet that is “open source” makes its software code public (e.g. on Github). Either the entire program code or at least significant parts of it are publicly accessible. This has the advantage that many parties can review the code and security gaps or other vulnerabilities are discovered and improved more quickly.
The so-called "private key" is a unique sequence of numbers and characters and the private key that gives you direct access to and control over your cryptocurrencies. The private key is used to sign transactions. In simple terms, it can be seen as a digital fingerprint that proves that you are the owner of the cryptocurrencies. If you store your cryptocurrencies on so-called "custodial wallets" (e.g. crypto exchanges), you are not the owner of your private keys.
The anonymity of “non-custodial wallets” is generally relatively high. However, there are differences between providers when it comes to collecting and storing user data. There can also be differences in the ordering process for hardware wallets as to which user data is stored and for what period of time
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
Some wallets offer an integrated trading function within the wallet to buy and sell cryptocurrencies directly. This functionality is usually made possible by a connection to the web interface of an exchange. The integrated trading function in wallets offers enormous advantages: cryptocurrencies can be bought in the same place where they are to be stored. The manual transfer of cryptocurrencies from an exchange to your own wallet is therefore no longer necessary, which can save time and money.
Multisignature wallets or multisig wallets are wallets that require at least two private keys to sign a transaction. This additional process makes it possible to greatly increase security against unwanted access, for example through personal threats. This security mechanism is particularly useful when storing particularly high assets.
If the hardware wallet or the device with the corresponding software wallet is lost or damaged, there is no need to panic. As long as you have your private key or recovery seed (also called “seed phrase”) in your possession, you can restore your wallet at any time. The recovery seed is a combination of 12-24 words and is the most common backup method for wallets. Important: Keep your recovery words and private keys secret and never share them with other people!
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Ledger Nano X
Overview
Quick Facts
The Ledger Nano X is a popular hardware wallet for securely storing cryptocurrencies, NFTs, and other digital assets. Its standout feature is the Bluetooth connection, allowing optional control via smartphone. The Nano X is the premium product from the hardware manufacturer Ledger.
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Pro's & Con's
- Excellent build quality and high security standards.
- Bluetooth connectivity for easy smartphone integration.
- Ledger Live software allows asset management and supports up to 100 apps.
- Reliable and trusted brand with a strong reputation.
- Higher price compared to the Ledger Nano S.
- Some users may find Bluetooth connectivity unnecessary.
- Beginners may find the additional features and cost unnecessary.
- Requires periodic firmware updates for optimal security.
Ledger Nano X
Hardware
Offer and features of
Ledger Nano X
Functionality
Unique Features
- Bluetooth connection
- Ledger Live App
- Up to 100 apps
Platforms
Our
Ledger Nano X
Review
Test Result
Conclusion
The Ledger brand has long been synonymous with reliable and secure hardware wallets. The Ledger Nano X, the flagship product, impresses with its excellent build quality, high security standards, and easy handling thanks to its Bluetooth connection to smartphones. The accompanying software, Ledger Live, allows users to buy and sell assets and connect up to 100 apps. While we are big fans of Ledger products and find the Ledger Nano S to be perfectly adequate for beginners, those who value superior workmanship and connectivity will find the Nano X to be the best option. We use the Ledger Nano X ourselves and highly recommend it.
Ledger Nano X
User Reviews
The Ledger Nano X is widely praised for its intuitive and sleek design and ease of use. Users appreciate the easy setup and the OLED display for its clarity. The Bluetooth feature, which allows for easy connection to mobile devices, is also highlighted positively. However, some users find navigating the two physical buttons a bit cumbersome, especially for more complex tasks.
The Ledger Nano X is praised for its support of a wide range of cryptocurrencies and integration with the Ledger Live software. Some users express a desire for more advanced features, such as built-in trading functions or advanced analytics tools.
The Ledger Nano X is praised for its broad support of over 1,800 cryptocurrencies. This diversity allows users to manage a wide range of assets in a single wallet. However, some users would like an even larger number of supported cryptocurrencies, especially when it comes to lesser-known or newer altcoins.
The Ledger Nano X is praised by users for its high security standards. As a hardware wallet, it offers an additional layer of protection compared to pure software wallets. Nevertheless, there are reports of phishing attacks. However, these seem to be mainly due to user error and not to any flaws in the design or security of the Ledger Nano X itself.
Opinions on the Ledger Nano X's beginner-friendliness are mixed. Some users find the wallet easy to use and well suited for beginners, while others find it requires some learning curve. However, the guides and resources provided by Ledger are generally considered helpful.
Experiences with Ledger support are mixed. Some users report helpful and timely responses, while others criticize longer wait times and inadequate solutions. There is a general desire for more personalized support, especially for more complex issues.
In summary, the Ledger Nano X generally receives positive reviews, especially for its high security standards and support for a wide range of cryptocurrencies. Users appreciate the intuitive operation and wireless design, although some see the two-button navigation as a potential area for improvement. Opinions on beginner-friendliness and customer support are mixed, with some users requesting some learning curve and improved support. Overall, however, experiences are mostly positive, indicating general user satisfaction with the Ledger Nano X.
About
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Ledger Nano X
About the author
Ethan is the go-to crypto guru at Exchange Flow, with nearly a decade steering traders through crypto exchange platforms worldwide, Ethan brings welcome clarity to the complex terrain of digital currencies. His hands-on approach to testing and analyzing exchanges worldwide makes his reviews and articles valuable information for readers and newcomers in the crypto world. Beyond his crypto expertise, Ethan is a retro gaming enthusiast and an explorer at heart, using his crypto gains to fuel adventures around the world. Dive into Ethan’s articles and reviews for a global perspective on cryptocurrency that’s as enlightening as it is engaging.