ledger live

Ledger Nano X Review (2020) | The “Best” NEXT-GEN Wireless Hardware Wallet?

In this review, we are going to dive deep into the newest hardware wallet from Ledger, the Ledger Nano X! Is it the best bluetooth hardware wallet out there? Is it much of an upgrade from the Ledger Nano S? Is there any other hardware wallet that is close to this one in terms of security and price that I should be considering? We are going to address all of these questions and more in this review, so stay tuned!

Ledger has always been a well-respected company in the crypto community and has been shipping hardware wallet products since early 2015. Their first flagship product, the Ledger Nano S, was a runaway hit and sold over a million units throughout 2017. The problem was though (at the beginning) is that you had to download a chrome app for each wallet and was a real pain to try and manage your assets.

Then, they came up with a desktop app called Ledger Live that unified all the apps in one easy-to manage-dashboard and supported many native apps, which was a much needed upgrade. So they solved the user experience issues they had and continued to innovate. As they started rolling out new coins and blockchains being supported, they had another hurdle they faced and that was the amount of space or apps that were supported on the Ledger Nano S (See full review HERE). You could only hold 3-4 coins at once on the device and users who wanted to expand their portfolios and use a hardware wallet that didn’t integrate with 3rd party wallets, like MyEtherWallet.

This is where the Ledger Nano X comes in, solving this problem and more! This device can support up to 100 apps (coins) simultaneously and solved a major usability complaint that many customers had. Mobility. People wanted to manage their crypto on the go and not be tethered to a computer to safely manage their assets. Out of this, the Ledger Nano X was born. Let’t take a look!

 

 

Ledger Nano X Design

 

 

The Nano X comes beautifully packaged with the device itself, a USB-C cable, a set of instructions and recovery seed cards. The previous bulky buttons that were on top of the device are now seamlessly integrated on it in a way that’s even a bit hard to notice. All in all a beautiful design. The primary features of this device are the bluetooth connection which allows you to manage this device using your smartphone via the iOS and Android app.

Additionally, you can now hodl, store, or manage up to 100 cryptos simultaneously, all without access to your desktop or laptop computer. This is easily it’s best new features, but aside from the upgraded storage capacity and the wireless connectivity, the device itself is now larger, has an integrated 2-function button, and an overall larger screen for verifying transactions. With a trusted device and a more universal charging cable, this makes it much more compelling to spend the extra money to store more coins and one that you can easily take with you as you travel.

 

 

Ledger Security

 

 

Ledger is at the forefront of developing the industry’s device security. How? And in what ways?

CC EAL5+ Secure Element

 

Only Ledger’s devices can claim the French cybersecurity agency ANSSI’s full certification.
The Nano X and Nano S both feature what is called a ‘secure element’. The chip seen below is the nest generation chip that comes in the Nano X:
The secure chip meets the CC EAL5+ certification and run’s Ledger’s proprietary BOLOS operating system. 
A Secure Element is a secure chip that…embeds intrinsic countermeasures against many known attacks. This kind of chip is tamper-resistant and protects your device to a range of different attacks.”
This secure chip differentiates the Ledger’s method of key storage from its competitors’ hardware wallets (with the exception of coldcard).

 

 

Ledger Live Update – App + ERC 20 Support

 

 

 

This was a MASSIVE upgrade from the chrome apps they were utilizing before. This new desktop app is very clean and seamless. They also have a new mobile app designed for use for the next generation product the Ledger Nano X (We will go over that in a future review) for wireless management. However, the desktop app is very clean and easy to navigate. The first thing once you connect and authenticate your device is a dashboard if you had already have an existing device, showing you your balances and charts on a single screen.

You can see your accounts on the left hand side, and you also see the “Ledger Manager” which is where you add and remove apps. When you perform any firmware upgrades, it requires you to delete the apps on your device (don’t worry your coins are safe) and you re-install them after it is done.

When you first plug in and install the app on your desktop, it will ask you if you want to setup a new device or if you have a device that is already setup and then have you authenticate with the PIN. It will then check for any updates or firmware upgrades that are necessary for you to view your account. Once you have access, it’s pretty easy to manage everything overall, and they have even introduced a way to “Buy Crypto” from such partners as “Coinmama” where you can purchase directly with a debit or credit card, and “Coinbase“, which you can do they same and also use your bank account directly via ACH.

There is also a pricing history dashboard built right in, thanks to an integration with “Kraken” and “Bitfinex“. This allows you to see trends and historical data, which may help you decide at-a-glance what you would like to do for managing your next transaction. Once you install an App, you can create multiple accounts and label them if need be, for managing and organizing your portfolio. The only one complaint I have with it, is if you do use a 3rd party wallet, like “MyEtherWallet“, you have to leave the app and manage your funds on a 3rd party site. Overall, all the native apps work beautifully, and they are adding new coins and assets all the time.

 

 

Ledger Nano S vs. Ledger Nano X

 

 

 

I’ll keep this section pretty straight to the point. Other than the price, the primary difference is two-fold. One, on the Ledger Nano S only holds about 3-4 apps (coins) at a time. This is ok if the you only plan to hold 3 or 4 total coins on your hardware wallet and you are ok with only working on a desktop computer to manage your crypto. The primary selling feature of using the Ledger Nano X is the wireless support and smart phone support for managing crypto on the go. The second is the fact that it can hold up to 100 apps simultaneously.

It really just boils down to how many coins you want to store securely offline on the device, and if you need to flexibility to use it when you’re on the go and do not have access to the computer. They both use the same ledger live app (mobile for Nano X and desktop for Nano S), although you can still use a cabled connection with the Nano X if need be. It also has a fairly large battery life.

 

 

 

Ledger Nano X Review Conclusion – Bottom Line

 

Overall, the Ledger Nano X is surely a nice upgrade from the Ledger Nano S that has been a top seller in the hardware wallet space for many years. By listening to it’s customers, it’s crafted a way for people who enjoy the software, coin support, and overall user experience of the first generation product and allow it to wirelessly connect to your smartphone and conduct safe transactions.

If you are someone who wants to use and store your cryptocurrency safely and completely unconnected in a way that is fairly satisfying. Is the user experience perfect? No, but they are continuously working out the bugs and adding consistent fixes to their user flow and adding new coin support and security upgrades on a continual basis. This is still much cheaper than it’s closest competitor (Trezor Model T) and now manages a lot more “Native” apps than it’s counterpart, which honestly is a huge plus. Native app support is a feature that many take for granted, but it significantly improves the user loyalty and experience using the branding and platform of any company or product.

Additionally, it allows for a more “unified” experience that doesn’t require additional 3rd parties to ultimately control the support you need and pay for. It’s inclusive. Personally, this still has an advantage over the Trezor Model T, but if you want another competitor that will surely give this device a run for it’s money that matches all of it’s features and more (although at a higher price), I would check out the Ellipal Titan. If you’re interested in learning about that product’s unique features, you can read the full review I recently wrote HERE.

The Ledger Nano X is a sleek, powerful, and very competent device that includes the wireless functionality that most end users need these days to properly manage and secure their crypto!

 

What do you think? Is this a new contender for mid-level hardware wallets? Let us know what you think down below!

 

Cheers,

 

The Crypto Renegade

 

 

NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.

Ledger Wallet Ripple: How To Store Ripple (XRP) On The Ledger Nano S (2020)

In this article, I am going to explain how to store Ripple (XRP) on the Ledger Nano S in the Ledger Wallet Ripple. Most people I speak with talk about whether or not XRP is safe to leave on exchanges for storage. The simple answer is no. Under no circumstances is it safe or even a slightly good idea to leave ANY coins your have on an exchange. “Not your keys, not your crypto” is a statement you’ll hear repeated throughout the crypto ecosystem. If you are unsure about the safest ways to store and secure your cryptocurrency private keys, then grab my free e-book that gives you some in depth resources on how to manage your crypto safely. I also wrote a comparison review of the major differences of hot vs cold wallets, in case you are unsure. ledger wallet ripple

Now, as Ripple is a top 3 market cap coin, it is imperative to know how to properly store it on a hardware wallet, and the one wallet that can easily store this right now is the Ledger Nano S. You can also store it on the newly released successor to this wallet known as the Ledger Nano X, if you want a larger storage capacity and a wallet that is wirelessly capable. Let’s get to it below!

 

WHAT IS RIPPLE (XRP)?

 

Ripple is both a platform and a currency. Let me explain. Ripple itself is platform and open source protocol which is designed for quick and cheap transactions. This was “invested” as a resource for efficient, cross-border payments that is intended to be used by big banks. The Ripple platform is very very cheap and efficient and unlike bitcoin, it is designed as a payment machine and nothing more.

XRP (the token that is represented on the ripple platform) is designed to transfer value across the Ripple platform. The intention behind this is to be able to transfer value from either cryptocurrency or fiat from peer to peer in the fastest way possible. That is it’s only function.

The other noteworthy aspect of this is, there is a predetermined amount and it is not mined or staked, like it is on POW and POS networks. In fact, there is no blockchain for this token at all. This has been the source of a lot of criticism in the ecosystem that this is not really a “crypto” currency, but rather, just a digital version of fiat.

 

HOW DO I BUY RIPPLE (XRP)?

You can buy ripple directly at many OTC exchanges, or other trading exchanges like Coinbase or Binance. When using Coinbase, you can link up your bank account and/or major debit card to process the transaction and if you’re not verified, it can take up to 7-10 business days to process.

If you plan on buying XRP with a credit card directly, you can use either Paxful or Changelly and use this as an OTC exchange to buy it directly (although paying with credit card will incur some extra fees). You can also go through a 2-step process and buy bitcoin with a credit card on Coinmama, and then use one of the above exchanges to swap it.

 

LEDGER WALLET RIPPLE: HOW DO I MOVE RIPPLE TO THE LEDGER NANO S?

 

  1. Open up Ledger Live, and make sure it’s software version is up to date.
  2. Head over to the Manager section on the left side bar, and search on “XRP”, then click on Install.To create an XRP wallet on your Ledger device, we first need to create an “account” for you to be able to have access to your wallet’s XRP address.
    1. Click on the rounded + symbol on the left portion of the Ledger Live app to add an account.
    2. Type in “xrp” on the search bar to easily find XRP on the list, then click on “Continue“.
    3. Open the XRP app on your Ledger device, then click on “Continue“.
    4. Wait for Ledger Live to synchronize.
    5. Choose a name for your wallet. For this example, we’re just going to name our wallet “My XRP Wallet“.
    6. Tick the blue checkbox , then click on “Add account“.
    7. Account successfully added!Click on “Add more” if you want to create more XRP wallets, or if you want to head over to moving your funds to your XRP wallet, just click on the small x on the top right corner of this popup.
    8. Your XRP wallet is now ready. Simply click on the XRP wallet you made on the “Accounts” section on the left, then click on the blue “Receive” button.
    9. Click on “Continue“.
    10. Click on “Verify“.
    11. For security purposes, check if the same wallet address is being shown on the Ledger Live app, and the address shown on your physical Ledger device.If everything’s fine, you can now copy the wallet address shown on Ledger Live, and you can now use that address to move your funds from other XRP wallets, or from the exchange you’re using.

 

WHAT ABOUT THE NEW LEDGER NANO X?

The Ledger Nano X has the same process as above for adding it to your hardware wallet using Ledger Live, the only difference is it is primarily done via the mobile app. You can still plug this device in and manage this the same way as the Ledger Nano S, however, it is able to connect to the app and manage this wirelessly, which is the major advantage.

 

CONCLUSION

 

Bottom line, if you’re in the market to acquire this coin, you will absolutely need to store it on a Ledger device. Keeping all your private keys (of any coin) on a trusted hardware wallet is imperative. Period. I will say that with the Ledger Nano S specifically, is the cheapest and is the best entry level hardware wallet if you want to store ripple at only $59. The one caveat is that you can only store 3 or 4 different coins on the app at once, that’s it. If you plan to grow your portfolio, you may want to spring for the extra money and go for the Ledger Nano X, which can hold up to 100 coins or “apps” at once. I will leave the full review of the Ledger Nano S here.

 

What do you think? Is there a better offline wallet to store your XRP? Let me know in the comments below!

 

Cheers,

 

The Crypto Renegade

 

NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.

Ledger Nano S Review: 7 Things You Need To Know Before You Buy (2020)

In this article, I will go into depth of the Ledger Nano S Review: 7 things you need to know before you buy it. The Ledger Nano S was the first (but definitely not the last) hardware wallet I ever bought, and the experience actually led me to create this website as I started learning more and more about crypto security. ledger nano s review

It was the second hardware wallet that came on the scene after the Trezor One device and implemented a new security structure and a new form factor to try and compete directly with the only trusted hardware wallet at the time.

When the Ledger Nano S started picking up momentum, it was because they started adding altcoin support at a rapid pace. This was exponential as Trezor only supported native apps for Bitcoin, Litecoin and Dogecoin by the time that Ledger had over 20 native apps for alt coin support with hundreds of new coins that were already in development.

This was a HUGE deal at the time, and only picked up steam as the 2017 bull run started and people began accumulating a wide array of altcoins for speculative investment. Today, the other competitors have caught up pretty well for the same level of support, but the Ledger Nano S still has an edge for certain coins that are supported, and that is a HUGE reason that I use this device on a semi-weekly basis to this day. There has been lots of progress and development on the device itself, the massive altcoin support, and the introduction of Ledger Live. Lets check it out below!

 

WHAT IS A HARDWARE WALLET AND WHY DO I NEED ONE?

 

For those who are new to the cryptocurrency landscape, you may have heard that you need a hardware wallet. But, why? Well, when you receive your first bitcoin, whether it be in a mobile, desktop, or web wallet, you have the public key (your bitcoin address) and the private key (the secret key required to control (send/receive) your bitcoin. your PRIVATE KEY is the MOST important piece of this process, because without the private key, you do not own or have control of the coins in your wallet.

When you have your private keys connected to a “Hot Wallet” or a wallet that is directly connected to the internet, you run the risk of them being hacked or compromised. This is where hardware wallets come in. These are known as “Cold Wallets” or “Cold Storage” and has your private keys stored securely offline, so they are impervious to attack or compromise.

When becoming your own bank, this is a vital part of properly managing and securing your cryptocurrency. Hot wallets are good for everyday spending and ease of use (much like a fiat wallet you keep in your back pocket), but it is NOT ideal for longer term storage.

ledger nano

The Ledger Nano S is a very compact, sleek, and secure device that allows you to store over 1,100 cryptocurrencies at the time of this writing. This is crucial as more altcoins gain acceptance and you need a wide portfolio to protect longer term. Ledger takes their security very seriously and for good reason. There have been a number of exchange hacks and reports of people losing or having their wallets hacked by nefarious individuals throughout history. This is why having this device is so crucial.

Ledger Nano S is a device that is upgraded frequently with new features and firmware upgrades to ensure that it has the latest security protections and new assets being added every single month. Not to mention, it is currently the cheapest among the 3 best-known hardware wallet companies, starting at only $59 USD!

 

LEDGER NANO S REVIEW: HOW IS THE SECURITY?

 

The Ledger Nano S has an A-grade security setup which sets it apart from the competition. It uses a secure element which holds and stores the private keys in a separate and secure environment from the rest of the operating system. This ensures that if for any reason the rest of the device is somehow compromised, you precious private keys are safe.

It also supports the standards BIP-39 protocol that requires you to setup a recovery seed phrase of 24 words during the initial setup, that allows you to restore your coins to any other wallet in the event you have broken, lost, or somehow cannot gain access to the device itself, so you have a fail safe.

 

(PRO-TIP: If you lose, rip, tear, get wet, or otherwise destroy your recovery seed, you are in serious trouble. I would recommend obtaining a CryptoSteel device as a metal backup for your recovery phrase that protects you against a fire, flood, earthquake, or your brand new puppy. This is STRONGLY recommended if there is ANY amount of cryptocurrency you would be financially damaged by losing. This is a literal metal vault for your backup system) 

 

Additionally, they have a proprietary operating system known as BOLOS (Blockchain Open Ledger Operating System) that allows developers certain access to develop applications and a framework for them to add support for a wide spectrum of coins and stacks for scaling up. It is built with security in mind and to work comprehensively with the secure element by ensuring there is a smooth delivery of sensitive data when making a transaction using the Ledger Nano S.

In my opinion, this is one of the most secure devices out there, as it has built in several security checks for every action taken on the device, and if those checks have not been successfully executed, it will not move on to the next phase, making it even more secure. To me, this extra attention of securing my private keys provides me peace of mind even with an entry level device.

 

WHAT MAKES THE LEDGER NANO S DIFFERENT THAN TREZOR OR KEEPKEY?

 

I get this question a lot, as I use all three of these devices on a regular basis. Not only is this device the smallest of the bunch, it is the only one that has a built in screen protector in the form of a polished aluminum cover for ensuring the OLED display avoid scuffs and scratches during transit. The smaller form factor is an advantage and a disadvantage. The disadvantage to me if not being able to see the full address in one place when verifying a transaction.

It does end up scrolling to reveal the full address, but that can be difficult if you are trying to verify letter for letter for confirmation. The advantage would be it’s very discreet and transportable. It slips easily into your pocket, or your keychain if you’re so inclined. But, the largest notable difference is the specific coin support you can’t get anywhere else on a hardware wallet.

As a HUGE advocate for privacy coins, I tend to favor these and accumulate them for personal investment and also private transactions, and as a result, I need a secure place to store them. To their credit, the other hardware wallets are working towards supporting these coins, but Ledger already has support for 2 of my favorite coins, Monero (XMR) and Zcash (ZEC).

Ledger also supports Zcoin (XZC) and a few others as well. These are support by Ledger Live (which I will go over in a minute), which is the native dashboard for managing native applications for these coins which is very convenient.

Additionally, this is the only hardware wallet (currently) that supports Tezos (XTZ), which has a very bright future in my opinion. Tezos is a POS coin that has a new unique blockchain consensus that rivals Ethereum on a number of levels, and I personally believe will be a top 10 coin very very soon.

Not only that, when using Tezos you can “Stake” your coins while holding your private keys while ON the Ledger Nano S. This is HUGE, and is a main reason I use Ledger Nano S, since I like to participate in this process personally. No other hardware wallet has even announces plans for this kind of native support for this at the moment, which gives Ledger a massive edge over the other two in my opinion.

 

LEDGER NANO S DESIGN

 

I will keep this section short and sweet, as I addressed above, this is a sleek and compact device, which make its very stable and durable. It has a small OLED screen and 2 physical buttons. This is used for navigating apps, verifying your pin to access to the device, confirming a transaction, and generating the recovery seed words upon first time setup.

When entering in your PIN on the device, the right button will function as the “Up” arrow, and the left button the “Down” arrow for scrolling through your selections, then pressing both at the same time will confirm your selection, so it’s pretty intuitive. It has a one port which is micro USB that connects to a cable to a standards USB port that can be used on a MAC or PC.

 

CLICK HERE TO BUY THE LEDGER NANO S

 

LEDGER LIVE – IS THE UPDATE WORTH IT?

 

This was a MASSIVE upgrade from the chrome apps they were utilizing before. This new desktop app is very clean and seamless. They also have a new mobile app designed for use for the next generation product the Ledger Nano X (We will go over that in a future review) for wireless management. However, the desktop app is very clean and easy to navigate. The first thing once you connect and authenticate your device is a dashboard if you had already have an existing device, showing you your balances and charts on a single screen.

You can see your accounts on the left hand side, and you also see the “Ledger Manager” which is where you add and remove apps. When you perform any firmware upgrades, it requires you to delete the apps on your device (don’t worry your coins are safe) and you re-install them after it is done.

When you first plug in and install the app on your desktop, it will ask you if you want to setup a new device or if you have a device that is already setup and then have you authenticate with the PIN. It will then check for any updates or firmware upgrades that are necessary for you to view your account. Once you have access, it’s pretty easy to manage everything overall, and they have even introduced a way to “Buy Crypto” from such partners as “Coinmama” where you can purchase directly with a debit or credit card, and “Coinbase“, which you can do they same and also use your bank account directly via ACH.

There is also a pricing history dashboard built right in, thanks to an integration with “Kraken” and “Bitfinex“. This allows you to see trends and historical data, which may help you decide at-a-glance what you would like to do for managing your next transaction. Once you install an App, you can create multiple accounts and label them if need be, for managing and organizing your portfolio. The only one complaint I have with it, is if you do use a 3rd party wallet, like “MyEtherWallet“, you have to leave the app and manage your funds on a 3rd party site. Overall, all the native apps work beautifully, and they are adding new coins and assets all the time.

CONCLUSION – BOTTOMLINE

 

PROS:

-Very easy to setup if you have never used a hardware wallet before, you just need to download the desktop app from Ledger’s website and follow the prompts once you connect it for the first time.

-It’s the cheapest hardware wallet as of this writing at $59.00 USD. If you are just getting started and you only need a few coins to hold at once, this is easily the best intro wallet to keep your private keys stored offline.

-It has the widest range of native apps and newest coins being added all the time and being supported. You can click HERE to view their roadmap to see if your favorite coin is currently in development of being added to the platform.

-It is currently the only hardware wallet that natively supports Tezos (XTZ) and Monero (XMR) if you’re a fan of those coins and other privacy coins in general.

 

CONS:

-The screen is small and if you’re verifying your transaction address using the small screen, you have to wait for it to scroll, and then verify quickly the characters match before you can authorize the transaction. This is not ideal for a quick at a glance process to ensure the address you’re sending to on the app, matches what shows on your device (VERY IMPORTANT).

– You can really only hold 3 or 4 apps on the device at once. I originally only kept 3 apps on the device, as those were the only coins I needed to add at the time. However, when I went to add a 4th, it told me I needed to remove an existing app to make room. The RAM or space is on the device is very limited, so it’s good if you have only 2-3 coins you want to manage at once.

-They require you go through the process of removing and uninstalling all apps and then going in and reinstalling them for EVERY firmware update. This is tedious and really obnoxious for the serious hardware wallet user. I understand you need to have backups and be careful with every upgrade but c’mon, this is the only device I have this issue with.

As you can see, overall this a is a very solid entry level wallet with top notch security. I recommend if you are a brand new hardware wallet user and you are just dipping your toe into this large pond, this is your best bet. It has a clean, easy to follow interface and you can get started at the cheapest price of only $59.00 to start.

If you do not plan on holding MANY different coins at once on the same wallet, this is the wallet for you. Now, you can use 3rd party wallets to integrate it with, but that’s an entirely different learning curve. If you want to hold 3-5 coins to start and get it done simply and effortlessly, this is where I personally started and I recommend you start.

 

PURCHASE LEDGER NANO S FROM LEDGER’S OFFICIAL SITE

 

What do you think? Is there a better wallet you recommend for people getting started? Let me know in the comments below!

 

Cheers,

 

The Crypto Renegade

 

NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.

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