As the value of bitcoin and other currencies is skyrocketing as you’re reading this article, more and more cryptocurrency investors are thinking of using a device that would enable them to secure their investment. Two of these devices that have gone mainstream are Ledger Nano S and X.
If you’ve too decided to secure your precious cryptocurrency investment and you’re wondering who is the winner in the Nano Ledger x vs s head-on confrontation, you’ve come to the right place. Below, we’ll take a closer look at all the specs and features of both Nano Ledger S and Nano Ledger X.
With the bitcoin reaching an all-time high, it becomes mandatory to protect your virtual money against cyber threats of all kinds. As the market of cryptocurrency will continue to rise, this environment will become more appealing to cyber criminals. Thus, you want to invest in a modern ledger device that will keep your investment safe and shut the door on hackers.
The Ledger is basically a physical device that allows you to keep your cryptocurrencies in a physical location. This device is way more secure than local or global servers because it is hack-proof and can only be accessed only by the user with specific crypto keys.
This company was founded in 2014 by a group of experts in cyber security, blockchain, cryptocurrency, entrepreneurship, and embedded security. While Ledger Nano S was launched in 2016, the X version was released in 2019. Both devices offer the highest security standards possible and can store a certain number of apps. However, Ledger Nano X comes with extra features and is more advanced, all with a higher price tag.
Without further ado, let’s dive deep into this Nano Ledger x vs S battle to see which one is better.
What is the difference between Ledger Nano S and X?
Ledger Nano S is a device created with the purpose of storing cryptocurrencies
in a physical way. This hardware wallet is similar to a micro PC or a large USB drive that has its own operating system (Bolos). This device stores the keys in a “tamper-proof element” and comes with its own security elements.
Even if you would connect the device to an infected computer, the security algorithm would kick in and protect your information from cyber attacks. You can use the device to sign off transactions and store information about your cryptocurrencies.
Even though the Ledger Nano X is similar to Ledger Nano S and is based on the same security tenets, it comes equipped with a more advanced security chip (ST33). Additionally, this newer version is equipped with Bluetooth communication, which means you can connect it to your smartphone or smartwatch through the Ledger Live mobile app.
Of course, the Bluetooth connection is end-to-end encrypted, so you’ll benefit of the same security levels as the ones offered by the Ledger Nano S. Even if an expert cyber criminal might be able to intercept the Bluetooth connection, he or she won’t be able to steal the keys, because these are protected by the secure chip’s blockchain open ledger operating system.
Compared to Ledger Nano S, which can only be used via its USB cable to connect to a laptop or desktop, Ledger Nano X can be used both as a USB device and as a Bluetooth device. The X version also comes with more storage space, supporting up to 100 app simultaneously. Conversely, its older brother released back in 2016 can only store between 3 and 20 apps.
In terms of wallet, both devices are the same, enabling you to manage 27 assets and ERC20 tokens. They are also compatible with over 50 eWallets. As far as security is concerned, both of these Ledger hardware wallets come with a Certified Secure Element (CC EAL5+) that is Independently certified by ANSSI. For backup, they have a 24-words recovery phrase.
As for other specs, the S model weighs 16.2 grams and has a size of 57 x 17.4 x 9.1 mm, compared to its counterpart that is heavier and larger, weighing 34g and having 72×18.6×11.75 mm in size.
Now, because these are both physical devices, it’s important to make sure they can withstand physical impact. The great news is that both devices are made of the highest quality materials possible. If you’re wondering whether “Is the Ledger Nano X safe?”, you should know that this device is protected against falls, scratches, and any other potential dangers.
Should I Buy Ledger Nano S or X?
This is quite a straightforward question, so we’ll give you a straightforward answer. If you prefer an inexpensive device that offers you good security, but only enables you to use your security keys together with your laptop or desktop, then the Ledger Nano S is an excellent choice for you. However, if you are always on the go and you perform regular transactions with cryptocurrencies on your mobile phone, then you should probably consider spending more money and investing in the Ledger Nano X.
Ultimately, the choice as whether to buy the Ledger Nano S or Ledger Nano X device comes down to your concrete needs. The S is suitable for long-term holders who rarely make transactions or for users who want to leverage the unique feature of the Ledger Nano S, which is to be used as a two-factor authentication device. The S is built in accordance with the FIDO universal U2F standard, a feature that, despite not being related to cryptocurrencies, might come in handy.
Conversely, the X version is an excellent choice for users who perform daily transactions and want to send crypto-related information while on the go, without being stuck to a laptop or a computer. For instance, let’s say you are on the beach, relaxing in the sun and drinking your margarita. If you either need to send a transaction or pay something with virtual currencies, you would definitely appreciate using this device to send transactions via Bluetooth.
Another reason to choose Ledger Nano X over Ledger Nano S is the increased storage space. Due to the generous space, you will be able to use multiple apps without having to erase old ones. With X, you can store up to 4 times more apps than with the S, which is definitely a huge advantage if you’re an avid user of crypto currencies.
Obviously, you can also opt in to go for both devices. You can leave the Ledger Nano S version at home or in your hotel room, while you keep Ledger Nano X with you for instant transactions. Needless to say, the Ledger Nano S comes in more colors, so it may look fancier in your pocket, while the X comes only in black.
Is the Ledger Nano X Worth it?
Despite the limited number of benefits Ledger Nano S has, the most important being the lower price tag, most modern users will choose the X version due to the increased storage space, mobility, enhanced security and reliability. All in all, it’s pretty safe to say that the X version is may be a bit better than the S one.
The X device is definitely worth it. It has a larger screen than the S version, displaying full cryptocurrency details without having you to scroll. The rechargeable battery allows you to use the device without powering it up with a cable. Even when we compare Ledger with other similar Ledger Nano X alternatives, we can’t but notice the obvious benefits of this modern device.
Let’s take a closer look at the features and specs of Ledger Nano X. First of all, the Live feature of Ledger Nano enables you to stake Tron, Tezos and Cosmos. You can lock up these currencies on their own networks and you’ll become eligible to earn a return on investment. This unique feature expands this tool from just a secure place to store your cryptocurrencies’ data into a system that earns your money and enables you to grow your digital assets.
Another unique feature of the Ledger Nano X is the swapping. This function enables you to exchange your cryptocurrencies using the Changelly system. The way it works is pretty simple and straightforward: you’re sending your cryptocurrency to the Changelly platform and you receive the swapped cryptocurrency back. In order to use this feature, you’ll need to install Ledger Live app and the exchange app.
Because the Ledger company is working with Compound, it allows you to lend USDC, USDT and DAI using the decentralized Compound’s finance system. This is another way to monetize your cryptocurrencies since you’ll become eligible to qualify for Annual Percentage Rate. This system gives you control and proof that the crypto you’re lending is generating a profit. Furthermore, it offers you convenience & security, since the lending feature is available right on Ledger Live platform and the cTokens are stored on your hardware wallet.
The Ledger Live app is super easy to use and install, and can be used on multiple devices at once: IoS, Android, Windows, Linux and MacOS. In addition to automating transactions and securing them using high-end encryption, this app comes with certain advanced features. For example, one advanced feature allows you to manually customize your transaction fee in byte/sat.
Can Ledger Nano X be Hacked?
Just like any other smart device available today, Ledger Nano X is not 100% hack-proof. For example, in July 2020, the security team behind Ledger X confirmed that they suffered a cyber attack. During this breach, an unauthorized third-party managed to access information related to their marketing and eCommerce platform. As a direct result, over 9,500 people had their contact information exposed, such as name and address. Another 1 million users had their email details leaked. However, no cryptocurrencies were stolen.
The team from Ledger were fully transparent during this unpleasant situation and worked closely with the Orange Cyberdefense company to further investigate the matter. Over the course of the following weeks, numerous users have received text messages and emails asking them to download the last update of the Ledger Live app, with the purpose of data steal. Unfortunately, some users felt to these phishing attacks, sending in sensitive information, which the cyber criminals were then able to use to gain access to the actual crypto currency information.
This unforeseen event can be rather characterized as a data breach than as a hacking. This breach has not impacted in any way the cryptocurrencies and sensitive data of users. Thus, you can rest assured that the Ledger Nano X is completely safe against cyber criminals, even though their servers and marketing information might be exposed.
It is very important to not order any Nano ledger from a third party website. To be safe, order the device from the official website here.
Ledger Nano X Supported Coins
The great news is that Ledger Nano X supports more coins than its older brother, the Ledger Nano S. Due to the increase in internal memory by 2 MB, the X version allows you to hold up to 100 coins. This app supports 1100+ assets, including EOS, Stellar, Litecoin, NEO, Vechain, XRP, and of course Bitcoin.
Ledger Nano X was upgraded back in the fall of 2019 to support even more coins, including the ones part of the native Ethereum wallet, such as ERC-20 tokens. Soon enough, this tool will support the new Ethereum 2.0, a welcomed upgrade for most coin users.
In the near future, experts predict that cryptocurrency users will be able to use their Ledger Nano X device to create Ethereum 2.0 public keys and validate them via Bluetooth. Additionally, there are signs that Ledger engineers will create a unique Ethereum app that will enable stakers to sign blocks securely on their own beacon chains.
Conclusion
So which device is the right one for you? Are you planning to go with the original Nano Ledger S version, which is cheaper, or do you prefer a more advanced tool that allows you to perform crypto-based transactions while on the go?
Whatever you choose, rest assured that Ledger Nano is an exceptional device for keeping your cryptocurrencies safe. I do hope that this Ledger Nano X vs S comparison was useful to you and will allow you to increase your earnings in 2021 and beyond by investing smartly in cryptocurrencies.
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