Cryptocurrency—3 Benefits of the Ledger Nano X

Posted December 21, 2021 by in Lifestyle

Cryptocurrency has become commonplace in today’s financial landscape, but those looking to invest may not always be satisfied with holding their assets on a cryptocurrency exchange. The good news? You can always hold your crypto in a physical wallet instead. High-quality wallets like those offered by Ledger make it easy for you to keep your crypto safe.

If you’re interested in getting a physical wallet, here are three benefits of the Nano X and why you should consider it for keeping your crypto assets safe.

Cryptocurrency coins

1. You Can Store Nearly Every Digital Asset with Ledger

One of the reasons why some investors and traders may be hesitant to keep their digital assets in wallets is due to the fact that not all wallets offer support for all cryptocurrencies. If you find that you have to put some of your assets in other wallets, things can get messy and confusing fast.

Fortunately, the Ledger Nano X offers support for over 1,300 digital assets. Whether you invest in Cardano, Dogecoin, or Ethereum, this Ledger device can hold all of your tokens so that you can maintain your peace of mind knowing that your crypto assets are safe. Additionally, the Ledger Nano X is compatible with all major PC operating systems so that you don’t end up purchasing a physical device that you can’t use. With support across the board, there’s no reason not to have a Nano X for assets you don’t want to keep on exchanges like Coinbase.

2. The Nano X Offer an Extra Layer of Security to Keep Your Assets Safe

While modern exchanges and software wallets are fairly safe, they’re still susceptible to hackers. Why? Unlike hardware wallets, software wallets or hot wallets are always connected to the web, and the private keys are typically stored somewhere on your computer or on the exchange where you purchase crypto. Should hackers somehow get their hands on your private keys (through phishing attacks, for example), they can end up draining your wallet in a transaction that can’t be reversed.

So, what makes the Ledger hardware wallet different? Unlike a software wallet, a Ledger wallet is a physical device that holds your private keys in the device, making it so that hackers can’t infiltrate your wallet. Additionally, the Nano X offers an extra layer of security by requiring you to insert a PIN when you want to access your assets, enter another password to keep your assets protected in the event that your PIN is discovered, and press two physical buttons on your device when you wish to engage in a transaction. Put simply, the likelihood that your assets will be stolen is extremely low. Just make sure to write down your recovery phrase and keep it in a safe place in case you lose your Ledger Nano X.

3. The Ledger Nano X Offers Bluetooth Capabilities for Mobile Users

Some people prefer conducting crypto transactions on their phones because it’s convenient or because they pay for some products and services using cryptocurrency. The good news is that the Nano X offers Bluetooth capabilities so that you can connect to your hardware wallet via the Ledger Live app. Whenever you need to send crypto to exchange it for cash or send it to an account where you can spend it on a crypto debit card, you can do it without having to jump onto your laptop or desktop computer.

Hardware wallets are generally the safest crypto storage methods, as they’re secure, versatile, and easy to use, just like the Ledger Nano X. If you’ve considered getting a hardware wallet, the three benefits of the Nano X outlined above will help you make a more educated buying decision if you think the Nano X is right for you!