Ledger Nano X in 2021 – What’s New and Methods to Not get Scammed – My Up to date Overview

This evaluation is NOT sponsored and comprises affiliate hyperlinks.

I’ve been a consumer of Ledger {hardware} wallets since 2017, and as we speak I’d wish to put up my up to date evaluation on the Nano X.

On this evaluation, I’d wish to introduce the pockets to those that are new to the product, in addition to speak concerning the options which were added since 2018. Since my principal focus is safety, I might be additionally sharing some crucial data that may hopefully enable you to keep protected and keep away from getting scammed.

What’s a Ledger Nano X?

The Nano X is a {hardware} pockets that helps over 1500 totally different belongings, and might retailer as much as 100 of them on the similar time. It helps the entire mainstream cryptocurrencies comparable to Bitcoin, Ethereum, Ripple, Litecoin, Stellar, Monero, in addition to many alt cash and their derivatives. Right here’s a full listing of the supported belongings.

On the surface, the Nano X appears to be like like a pen drive with a stainless-steel cowl. The physique of the Nano is made from plastic nonetheless, it feels manner sturdier than that of the common pen drive. The system includes a 30×13 mm display screen, and two buttons. It may be related through USB to your desktop (MacOS or Home windows) or through Bluetooth to your telephone (iOS 9+ or Android 7+).

Regardless of its seeming simplicity, the Nano X is a sophisticated system that includes a high-end ST33J2M0 safe aspect, in addition to its personal working system. This makes the system resistant to any distant assaults, in addition to makes it extremely immune to assaults even within the unlucky case a hacker will get their fingers on the bodily system.

Observe: I say “extremely immune to assaults” to keep away from confusion. In case your system will get misplaced or stolen, it’s crucial to revive your funds with the restoration seed and switch them to a unique pockets asap. Irrespective of how safe the system is, you don’t need hackers to own the chip that has your encrypted keys on it.

What does the Ledger Nano X do?

The system has two features:

The primary one is to retailer your private keys. As you most likely know by now, the entire cash are on the market within the blockchain; your pockets simply holds a set of keys that show your possession of these cash.

You’ll be able to clearly create a so-called software program pockets in your PC and again up your keys on an USB stick, and even create a cloud pockets and belief a 3rd social gathering to retailer the keys for you. Whereas not a very dangerous concept for small sums of cryptos, this technique is way from protected.

You most likely understand how weak are computer systems and smartphones to hacker assaults. Quite a few keyloggers and trojans stay undetected even by the most effective antiviruses, and might leak your private keys to the hacker as quickly as they seem in your system.

Right here’s the place the Nano X comes into play. Its second operate is to authorize transactions whereas holding the non-public keys secret. This manner, you possibly can function a cryptocurrency pockets even from an contaminated laptop or smartphone safer, so long as you comply with sure tips (as detailed within the sections beneath).

The Nano X has signing authority for transactions. When you can not provoke transactions straight from the system, you do use it to manually verify each transaction you do by pushing one of many two bodily buttons on the system.

Right here’s the way it works:

  • You begin by creating your pockets on the system, and also you write down the restoration phrases someplace protected.
  • Then, you hyperlink a software program pockets of your option to your Ledger system. This manner, you should utilize the interface of that software program pockets to handle the funds in your Ledger.
  • Each time you ship crypto to somebody, you’ll have to both verify or deny the transaction by urgent one of many two buttons in your Nano X. The display screen will show the recipient tackle, which is able to mean you can confirm that you just’re sending the funds to the proper individual.
  • If a transaction was initiated by a hacker, it is possible for you to to say no it, and preserve your cash protected.

Merely put, if a hacker will get to provoke a transaction out of your pockets, they received’t have the ability to full it with out you bodily pushing the button in your Ledger.

Observe: Although the Ledger does supply an additional layer of safety in opposition to hackers, it’s nonetheless a good suggestion to solely join it to a PC that has a freshly put in operative system on it to forestall MITM assaults. Extra on that beneath.


What’s New: Ledger Stay

The Ledger Stay is a brand new software that’s being developed and hosted by Ledger. As its description states, Ledger Stay is “the one-stop store to your crypto”.

Initially, all Ledger gadgets solely operated with third-party wallets and exchanges. A lot of the largest wallets and websites mean you can hyperlink your ledger system to them so as to add that additional layer of safety.

Now, Ledger determined to make life simpler for his or her clients and launched their very own app that provides a easy interface for storing, shopping for, promoting, swapping, and stacking your crypto. The app is accessible for Mac OS, Home windows, iOS, and Android.

Observe: Although the app is developed by Ledger, two of its key features are nonetheless powered by third events – the purchase/promote possibility is powered by the Coinify gateway, and the swap possibility by Changelly.

Be certain to obtain the app from the official Ledger web site to keep away from scams.

Frequent Questions

What occurs in case your Nano X will get stolen?

Within the unlucky occasion this occurs, you’ll most definitely have a while to make use of your 24 phrase restoration phrase on a brand new system to entry your funds once more, and switch them to a brand new pockets. Right here’s how. As you realize, the pockets operates with a 4- or 8- digit pin. The seed will get worn out from the system if a improper pin is entered 3 times in a row, so the system is protected in opposition to brute drive assaults. There are talks about different strategies a hacker can doubtlessly use to entry the info on the chip nonetheless, these require time and specialised gear.

What occurs when you lose your 24 phrase restoration phrase?

Should you nonetheless have entry to your ledger, you possibly can create a brand new pockets (ensure that to jot down down the brand new restoration phrase), and switch all of your funds there.

Professional Tip: You’ll be able to again up your restoration seed on a tool comparable to a Cryptosteel Capsule Solo or billfodl


The Nano X is the most recent mannequin, and it gives extra options, and an general higher consumer expertise in comparison with that of the Nano S. Each gadgets are nonetheless manufactured and supported by Ledger, with consumer expertise being one of many key variations between the 2: Additionally test on official web site!

Ledger Nano X Ledger Nano S
Apps put in concurrently As much as 100 As much as 20
Suitable crypto belongings 1,500+ 1,500+
Suitable wallets 50+ 50+
Bluetooth Sure, could be related to smartphones
Display screen measurement 128 x 64 pixels 128 x 32 pixels
Connector USB Kind-C USB Kind Micro-B
Battery 8 hours
Worth €119 €59

Ledger Nano X Hacks and Scams – All You Must Know

Since its launch, there have been fairly a number of makes an attempt to each hack the system itself, in addition to trick Ledger customers into sharing their non-public keys in a technique or one other. None of this was recognized to the early adopters of the Ledger, and tons of of customers misplaced their cryptos. Should you’re new, you’ll have the privilege of studying from different’s errors, and have a extra nice expertise together with your Ledger.

Please learn this part rigorously to get a greater understanding on what to, and what to not do:

Man within the Center Assaults

It’s no rocket science that malware can infect your PC with out you or your antivirus noticing it. As soon as a PC is contaminated, you possibly can now not belief what’s displayed in your laptop display screen. Whereas your Ledger will stop hackers from accessing your restoration seed and wiping your pockets utterly, they’ll nonetheless reroute your cost to a unique tackle when you’re not cautious sufficient.

Answer: When making a transaction, ensure that to comply with the steps detailed right here. Additionally, ideally you wish to preserve your pockets accessing PC offline and just for that function, and have a unique PC for normal internet browsing.

Observe: Please don’t confuse a MITM assault with a standard BTC tackle change resulting from UTXO. If confused, learn this matter.

Chrome Extensions

9 months in the past, a person created this thread the place he claimed that his Ledger bought hacked remotely. After some investigation, it grew to become clear that the person downloaded a third-party Chrome extension for the pockets, and launched his 24-word seed there.

Lesson discovered: the official Ledger app won’t ever ask you to your 24 phrases. Apart from, there is no such thing as a official Ledger Chrome extension, in order that app the person downloaded was clearly made by scammers.

Third-Celebration Sellers

Some individuals purchase their gadgets from websites like eBay and Craiglist. You will discover some actually “candy” offers there however right here’s the factor – nothing comes at no cost.

Again in 2018, a younger hacker named Saleem Rashid claimed to have having the ability to hack a Ledger system. His technique requires him to have the bodily system in an effort to set up a customized firmware on it by way of USB.

So far as I do know, this difficulty has been addressed, and the Saleem Rashid now seems on Ledger’s corridor of fame. Now, it’s unknown whether or not there are different methods to use a Ledger system so the lesson is fairly clear: keep away from third-party sellers.

Don’t get me improper – the Ledger Nano X is a really safe system that additionally has an inbuilt integrity test system. Nonetheless, it’s a good suggestion to play it as protected as doable.

Provide Chain Assaults

As this weblog put up by Kaspersky Labs particulars, a hacker might doubtlessly set up a {hardware} implant on the Ledger to make it leak your funds. Whereas it’s definitely not simple for a hacker to get their fingers in your system when you order it immediately from Ledger, it’s at all times higher to be protected than sorry.

Answer: Ledger gadgets are simple to open, and this quick tutorial reveals how you can simply disassemble your Ledger Nano, and test whether or not it’s been tampered with.

Pre-Made Non-public Keys

As this video explains, some third-party sellers change the unique Ledger documentation with their very own.

What they do is that they mainly pre-set the system for you. They create a personal key and print two copies of it. They put one copy within the field and canopy it with scratch-off ink, making it appear to be that is the way it got here from Ledger. The second copy stays within the possession of the scammer, permitting them to entry your funds except you reset your system and create a brand new set of restoration phrases.

You would possibly suppose “who will fall for this?”. Factor is, with over two million Ledger gadgets being offered worldwide, you possibly can wager there’s an excellent share of people that might doubtlessly fall for this.

Phishing Web sites

There have been (and possibly nonetheless are) fairly a number of phishing web sites that look precisely like Ledger’s. The primary purpose of these web sites is to lure you into sharing your 24 phrase restoration phrase.

Takeaway: Ledger won’t ever ask you to your 24 phrase restoration phrase, neither it’s going to ask you to ship them cryptos. Please, take a minute to test this screenshot compilation to get a greater concept on how inventive scammers could be.

Information Breaches

Again in June of 2020 there was a information breach on Ledger’s e-commerce web site API that leaked the contact data of over 8500 Ledger system homeowners. The leak consisted of strictly e-mail addresses, telephone numbers and names. No cost or bank card data was compromised. Nonetheless, this allowed scammers to ship each emails and textual content messages to Ledger customers, prompting them to click on on hyperlinks that will cause them to phishing web sites.

Takeaway: Whereas this specific breach was mounted, it’s a good suggestion to take any emails and messages with a grain of salt, even when they include your full title. Information breaches occur even to the largest firms, so please don’t click on any hyperlinks from emails no mater how credible they appear to be.

Getting your personal Ledger Nano X

The entire main on-line shops promote the Nano X. As we noticed earlier although, a talented hacker can doubtlessly tamper with the system, so it’s at all times a good suggestion to keep away from third events as a lot as doable.

I personally purchased my Ledgers from their official retailer, and bought it shipped to me through DHL Categorical.

I do know €119 for one Nano X isn’t precisely low-cost however for all of you seeking to getting your personal Ledger, right here is the hyperlink. Additionally contemplate the Cryptosteel Capsule Solo to retailer your seed phrases.

There may be additionally a chance to purchase a again up pack that consists of a Ledger Nano X and a Nano S. You get each for a complete of 20% low cost. You’ll be able to retailer the Nano S in your house protected, and take the Nano X with you to make transactions on the go.

In Conclusion

At this cut-off date, it’s widespread data that {hardware} wallets are a should for protected cryptocurrency storage. The extra beneficial cryptocurrencies turn out to be, the extra consideration they get from all kinds of thieves.

There are a number of firms that make {hardware} wallets, and whereas I don’t doubt that almost all of them make good and dependable merchandise, I personally lean in direction of Ledger. Ledger merchandise have an excellent observe report, and the corporate’s energetic bounty system helps to enhance its merchandise continually.

Once more, this evaluation was not sponsored by Ledger.

Disclaimer: This isn’t monetary advise, I’m not a monetary advisor, that is for academic functions solely. If you wish to spend money on cryptocurrency please do your personal analysis and make investments at your personal threat, 1stMiningRig isn’t answerable for any choices you make. 1stMiningRig might obtain donations or sponsorships in affiliation with sure content material creation. 1stMiningRig might obtain compensation when affiliate/referral hyperlinks are used.

Thanks for studying. As at all times, your feedback, options and questions are welcome.

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