ledger nano x vs bc vault

BC VAULT vs Ledger Nano X (2020) | Are These Hardware Wallets Worth It?

BC VAULT vs Ledger Nano X! In this comparison, we are going to do a head-to-head of two of the most competitive and popular new cryptocurrency hardware wallets in this edition of the hardware wallet roundups.

I am going to dive into which of these hardware wallets is better and more secure. How big is your portfolio? Do you need mobile AND desktop support? Do you use any 3rd party wallets for integration? Do you need web-based access instead of a required download? 

These are all questions you will need to consider when deciding which of these wallets will be best for you. At the end of the day, the coin support is one of the most important factors (besides security) when deciding which hardware wallet is best for you. 

Ultimately, if it doesn’t support the coins you want to store offline, it won’t work for your particular situation. So keep that in mind as we dive into what I consider to be the most important factors when making such an important decision, such as choosing a cryptocurrency hardware wallet.

 

Ledger Nano X: Overview

 

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 Nano X: 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 next 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. 

 

According to Ledger:

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.”

 

Ledger Nano X: User Experience (UX)

 

ledger nano x

 

Honestly, the user experience is a massive upgrade from the Ledger Nano S. With that said, It has a few usability issues that I find to be quite difficult to overcome. Although this device is physically larger than it’s predecessor, it still has a fairly difficult to use early experience.

For example, the screen is still fairly small and still cannot accommodate a QR code for scanning. This may not seem like a big deal, but after using several hardware wallets, it really does make a big difference. Using a QR code is not only safer (because it removes the chance of error from manually typing in a wallet address), but it is incredibly faster and makes the entire of transacting offline, a much easier experience. 

Although this device has stepped up the quality considerably from it’s latest iteration, I still feel that utilizing an all new form factor could have been beneficial and a little more innovative than replicating their 1st generation device with a few small tweaks.

 

 

Ledger Nano X Coin Support

 

The Ledger Nano X utilizes the “Ledger Live” dashboard which is a desktop application that allows you to manage all of your coins, portfolio, and potential trades in an easy to use application. You can use this on both an iOS or Android app as well as a desktop.

This app allows you to manage up to 1,100 coins that are supported by the device. However, only about 200 of them are “native” apps. This means that you can manage them directly within the Ledger Live app, without having to connect to a 3rd party wallet, such as MyEtherWallet or MyCrypto. I will leave a link HERE with a list of fully supported coins.

 

BC VAULT: Overview

 

 

Unlike most other popular cryptocurrency hardware wallets, like Ledger Nano X and Trezor Model T, you do not set up a recovery seed card before you initialize the device. In fact, there is a gyro sensor for you to randomly generate private keys by physically shaking the device (seriously).

You can also hold more than 2000 unique wallets within the web app, and can granularly set specific passwords for each one and setup multiple PIN’s to not only make it more secure, but also allows for an easy way to share the device and use Multi-Sig. In fact, this is the first device that natively allows you to use Multi-Sig on a per wallet basis and set multiple PIN’s.

This wallet does not use HD wallets, so each wallet has its own unique backup. This does make it more secure, however, if you lose or forget the global PIN and global password for the device, your funds are locked inside forever. They do have an encrypted QR code backup for each individual wallet, or you can create a backup on the included micro SD card that comes in the box.

 

 

BC VAULT: Security

 

The storage is reliable. The BC Vault’s private keys have complete encryption and they are stored in the FRAM device. The FRAM is fully tamper-resistant and thanks to the reversible USB 3.0 Type-C connector any damage occurring from mechanical error is fully prevented.

In addition to the secure FeRAM that is securely encrypted, and the large display which is useful when confirming transactions, you have peace of mind not having to worry about anyone locating or using a recovery seed phrase to render your funds useless.

You can also import any private keys you have elsewhere via the SD card as well, so you can easily interchange private keys from other wallets if you have them in the correct format.

 

BC VAULT: User Experience (UX)

 

 

This wallet has some pretty unique features I will admit, and it’s pretty refreshing. For example, you can use multiple cryptocurrencies at once. There are no “apps” you need to install or fear or worry of running out of space that most wallets have when upgrading the firmware.

Additionally, the amount of coins and wallets that can be used/stored simultaneously is astounding. As mentioned above, you can have up to 2000 unique wallets and can interchange multiple cryptos in multiple wallets.

 

 

BC VAULT: Coin Support

 

This is usually one of the most important factors when deciding on a hardware wallet (with the exception of security). If the wallet doesn’t currently support the coins you need to store offline, you can’t really take it too seriously as a deciding factor for purchase. Regardless of whether or not they claim to add more coins in the future.

 Needless to say, they have some unique choices for coin support HERE.

 

BC VAULT vs Ledger Nano X: Conclusion

 

Overall, these are two highly regarded hardware wallets with unique properties in its own right. If you want to have the flexibility of being able to use this device on the go and utilize it via a smartphone app, then you should go with the Ledger Nano X. If you want something that has a MASSIVE portfolio support and lots of customizable security, you should go with the BC VAULT.

At the end of the day, it really depends on your personal preference and what your immediate needs are. Now, I have used both of these devices extensively and I have a clear favorite (check out the details in the above video). If I only had to choose one of these devices, I would choose the BC VAULT, it has a very unique and strong security model, it can hold up to 2000 wallets simultaneously, and can support multi-sig, which allows for mutliple users to securely use the same wallet and requires a set number of users in order to send money.

Not only that, you can SECURELY share this device with multiple people as all of these wallets are encrypted and can have multiple custom passwords. I would truly feel confident handing this hardware wallet to my friend with over 10 BTC on it, because I know he will have no way to access the funds within my wallet. I can’t say that about the Ledger Nano X.

All in all, these both are great wallets and you ultimately need to decide what coins you need to store offline, how many coins you need to store at once, and if you need mobile support. These are all very personal, and in my case, I would rather sacrifice the mobile support to have a very easy to use multi-sig hardware wallet with the ability to share it with family, friends, or even a new business.

 

 

 

What do you think? Would you choose the BC Vault over the Ledger Nano X? BC VAULT vs Ledger Nano X! Let us know down below in the comments!

 

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 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.

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