This is how secure the hardware wallet is

Anyone who is concerned with the secure storage of Bitcoin and Co. cannot ignore the Ledger company. The French company has been providing secure hardware solutions for crypto enthusiasts for years.

We tested the Paris-based company’s new flagship. What can the device do? How user-friendly is it to use? And is it really the nicest Bitcoin wallet on the market? The answers below.

Design and workmanship

What immediately catches the eye: the design. The Ledger Nano X comes in five colors: Onyx Black, Pastel Green, Amethyst Purple, Ruby Red and Retro Gaming.

The workmanship looks valuable. The housing is made of brushed stainless steel, the device itself, in which the Secure Element chip is installed, is made of plastic. The two control buttons also appear more robust than those of the predecessor Ledger Nano S.

There’s nothing to complain about here.

Ledger Nano X: This is what’s in the device

At 149 euros it is Ledger Nano X Although significantly more expensive than the Nano S, the device offers some features that its predecessor model did not integrate. The most obvious innovation is the Bluetooth function. Because in addition to the wired connection to the end device, you can Ledger Nano X also connect via Bluetooth. The device also has a 100mAh battery installed.

However, the setup is not trivial. The manufacturer states that Bluetooth is activated by default. However, how to establish a connection between the computer and the device was initially a mystery to us. Then the realization: The Bluetooth connection is only intended for smartphones. Aha!

So quickly download the Ledger Live mobile app in the App Store and you’re ready to go. Actually! This time it works. As a test, we transfer 10 euros in Bitcoin and after paying transaction fees that are way too high (thanks to Bitcoin Ordinals), the BTC arrive on the device in no time.

How useful is the Bluetooth feature?

Opinions differ about the usefulness of the Bluetooth function. Too unsafe, some say. A sensible extension, say others. We find: The possibility Ledger Nano X Being able to use it via smartphone is a nice extension of the range of functions. In addition, the device does not transmit critical data such as the private key via Bluetooth anyway, only publicly accessible data. Anyone who connects their device to their smartphone must confirm the connection on both devices using a PIN code. On his website Ledger writes:

If your smartphone has been compromised, the Secure Element will ask you to verify the transaction details. You will see the transaction details on the screen. No transaction signature will be issued without your express consent.

The bottom line: The private keys are on the Secure Element chip Nano X. They are safe there.

How secure is the Ledger Nano X?

The device has two different, independently acting chips installed. The Secure Element chip interacts with the security-relevant features of the device such as the keys and the information shown on the display. Meanwhile, the STM32 chip is responsible for communicating with the connected devices. Even if the latter is compromised, this will not lead to the loss of the keys, as every action must be verified again on the ledger display. We think: Ledger has built a security infrastructure that you can rely on.

But the Ledger data scandal of 2020 should not go unmentioned. At that time, unknown persons stole sensitive data from a million Ledger customers. They later made the data set available on a hacker forum. Trust in the company was massively damaged.

After all, the company vowed to improve and has since significantly upgraded its IT infrastructure.

Conclusion

Honestly? We’ll find it Ledger Nano X not only stylish, but also practical and safe. Although hardware wallets are obviously a gigantic honeypot, there is no known security hole to date. The biggest security gap in Bitcoin storage is still the users themselves. The seed phrase should therefore be stored in a safe place. It is also pleasing that the company guides users through the setup on a best-practice basis during onboarding.

In our review section you will find a more detailed test as well as first-hand user reviews.