Today Ledger revealed its new hardware wallet device, Ledger Nano X. It features a mobile app for iOS and Android smartphones and provides Bluetooth support. This is the latest technology of hardware wallets, which are used to store your cryptocurrency private keys offline, safe from the reach of hackers.
“The Ledger Nano X includes all of what you loved about your Nano S, but with new and improved major features.”Eric Larchevêque, CEO at Ledger
Ledger is using state-of-the-art technology to ensure the secure storage of the assets, while providing an enhanced user experience. Security is always the No. 1 priority when it comes to online transactions, as digital currencies are becoming part of everyone’s everyday life.
The Ledger Nano X will support 1200 cryptocurrencies with more expected to be added in the future. Users will be able to store up to 100 cryptocurrencies on the device, meaning 6 times more capacity than the Nano S. Ledger Live mobile app offers a new way to easily manage all of your crypto accounts and transactions through one app, everywhere you go. On Ledger Live’s dashboard you can view the balance of your crypto assets in real-time, on desktop or mobile.
To set up a Ledger device you have to choose a pin-code, enter your recovery phrase and you’re good to go. Your accounts can be restored on any Ledger device, using the 24-word recovery phrase. The Ledger Nano X will recover the private keys backed up by your confidential recovery phrase. With Ledger you can create unlimited accounts for all the supported currencies. The private keys are stored in a protected area and cannot be transferred out of the device in plain text, thanks to this technology:
✓ Secure Element Chip
Ledger hardware wallets make use of a specialized secure chip called Secure Element. These chips provide the highest level of security, and are much stronger than traditional chips. Secure Elements are used for high-end security solutions such as credit cards and passports. It is the standard technology for banks to protect credit card information and for governments to protect the biometric data in passports.
The company also announced that the Ledger Nano X has been awarded the CES Innovation Award in Cyber Security and Personal Privacy for 2019. The CES Innovation Awards honor outstanding design and engineering in consumer technology products that protect and enhance digital security.