Scorecard
Scored on how well the device protects keys, what you get for the money, how hard it is to use correctly, and how well the company supports owners after the sale.
Pros
- Certified secure element, with a long and consistent record of firmware maintenance
- The widest asset coverage of any mainstream hardware wallet, managed from one application
- Bluetooth signing from a phone, which removes the laptop from everyday use
- Clear, guided setup that beginners genuinely complete without help
Cons
- The secure element firmware is proprietary, so the security model cannot be independently audited end to end
- A 2020 breach of Ledger's e-commerce database exposed customer contact details, which are still used in phishing today
- The 2023 Ledger Recover announcement changed what many owners believed the firmware could do with a seed
- Storage limits how many asset apps can sit on the device at once
Verdict
If you hold a wide mix of assets and want to sign from a phone, the Nano X is still the most convenient way to get keys off an exchange. If your priority is an auditable, fully open stack, or you hold only Bitcoin, an open-source or air-gapped device is the better fit. Neither answer is about the hardware failing; they are different threat models.
What it is
The Nano X is a hardware wallet: a small dedicated device that stores private keys in a certified secure element and signs transactions internally, so the keys never reach an internet-connected computer or phone. It connects over USB-C or Bluetooth, and is managed through the Ledger Live application on desktop and mobile.
Its distinguishing feature is breadth. Through installable asset apps, it covers a far wider range of chains and tokens than most competing devices, which is why it remains the default recommendation for people holding more than Bitcoin and Ethereum.
Security
Key storage is handled by a certified secure element, the same class of chip used in payment cards and passports. Transactions are confirmed on the device screen, which is the part that matters: malware on your computer can propose a transaction, but it cannot approve one.
The honest limitation is auditability. Ledger's secure element firmware is proprietary, so independent researchers cannot verify the full stack the way they can with open-source devices. That is a deliberate trade: the certified chip brings hardware protections that open chips do not have, at the cost of transparency.
Two events belong in any assessment. In July 2020, Ledger's e-commerce database was breached, exposing customer names, addresses, phone numbers and around a million email addresses. No device or funds were compromised, but the leaked data has fuelled targeted phishing and, in some cases, physical intimidation, for years afterwards. In May 2023, the announcement of Ledger Recover, an opt-in service that shards an encrypted seed backup across third parties, prompted a serious backlash because it demonstrated that firmware could in principle export seed material. The service is optional, but the episode changed how many owners think about trusting a closed firmware update process.
Ease of use
This is where the Nano X earns its reputation. Setup is guided, the recovery phrase step is difficult to rush past, and Ledger Live presents accounts in a way that does not assume prior knowledge. Bluetooth means an ordinary transaction is done on a phone in under a minute, which matters more than it sounds: a wallet that is inconvenient is a wallet that quietly stops being used.
Who should buy it
Buy it if you hold a diverse portfolio, want one device and one application for everything, and value signing from a phone. Consider an open-source alternative such as Trezor or BitBox if independent auditability is your priority, or an air-gapped device such as Keystone, Passport or Coldcard if you want no radio and no cable path into the device at all.
Whatever you choose, buy directly from the manufacturer or a listed reseller. Never buy a used device, and never accept a device that arrives with a recovery phrase already written down.
Compare current offers on our deals page, or work through the cold storage guide first if this would be your first hardware wallet.
How we review. Ledgers Academy buys or independently evaluates the products it writes about and takes no vendor payment for coverage or scores. Pages may contain affiliate links, which are marked as sponsored and never affect a rating. Scores reflect our editorial judgement at the time of writing and are revisited when a product or its maker materially changes.