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Written by Sam Pennington on July 13, 2021
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Ledger Nano S vs Ledger Nano X: Best Crypto Wallet?

Cryptocurrency can be stored in a number of ways, each with unique pros and cons. First, there is hot storage, or storage that is connected to the internet. The benefit with hot storage is that it is convenient and makes trading crypto almost instant. On the other hand, hot storage is riskier.

With hot storage, you can either have your own digital wallet (where you actually manage your own private key) or utilize a digital wallet offered through an exchange (where they manage the private key for you). For example, Robinhood Crypto offers account holders access to a free digital wallet, though they manage the private key. Coinbase also offers users access to a digital wallet where they own the private key, but at least with Coinbase, you can transfer to an external wallet that you own.

The second method is cold storage, or storage that is not connected to the internet. When your private key is constantly connected to the internet, it is vulnerable to hacking, employee fraud, or phishing attempts. Cold storage adds an additional layer of security to your funds held in cryptocurrency.

For those interested in cold storage, how do you know which cold wallet is best? What features really matter?

Two of the top cold wallets on the market are actually produced by the same company: Ledger. Each of the two wallets offer crypto investors a way to feel safer about their holdings. So, which is best for you? In this article, we will review the Ledger Nano S vs Ledger Nano X and help identify features that are more suited for you.

crypto storage options

Ledger Nano S vs Ledger Nano X: The Basics

The Ledger Nano S was first launched in 2016. It was designed to be a simple way for crypto investors to secure their holdings. Since launch, the company has already sold over a million units of the Ledger Nano S. This wallet has proven itself with a solid track record and a simple setup. With compatibility with over 1,500 cryptocurrencies, this device is certainly equipped to handle popular and more obscure coins. Though it is compatible with a vast number of cryptos, it can only support up to six on the device at once.

Read our full review of the Ledger Nano S to learn more.

The Ledger Nano X, modeled after the Nano S, was launched in 2019. Building on the success and popularity of the S model, the Ledger Nano X comes with a few extra bells and whistles. First, the storage is increased over 16 times to up to 100 crypto apps at once. Second, the device is Bluetooth capable, which makes the setup even easier.

Read our full review of the Ledger Nano X to learn more.

Ledger Nano S vs Ledger Nano X: Summary

  • Both wallets feature a 24-word seed phrase to recover your assets should the device be lost, stolen, or damaged
  • Ledger Nano S is highly affordable at $59
  • Ledger Nano X is still affordable at $119
  • With the S model, you can store up to 6 crypto apps on the device at a time
  • With the X model, you can store up to 100 crypto apps on the device at a time
  • Both devices are compatible with over 1,500 cryptocurrencies (Check to see which cryptocurrencies are compatible)
  • S Model is compatible with Android 7+ Smartphones, but not iOS devices
  • X Model is compatible with Android 7+ and iOS 9+
  • Ledger Nano X has built in Bluetooth capability
  • Neither wallet is well-suited for mining
  • The Ledger Nano S must be plugged in with the USB cable to be powered on, while the Ledger Nano X uses a lithium battery
Product Features Overall Price Buy Now

Ledger Nano S Review 2021: Best Cold Crypto Wallet?

  • Affordability
  • Simplicity and Ease of Use
  • Cryptocurrency Compatibility
  • Storage
ledger nano x featured image

Ledger Nano X Review 2021: Best Cold Crypto Wallet?

  • Affordability
  • Storage Capacity
  • Compatible Cryptocurrencies
  • Ease of Use

What is the Ledger Nano S?

The Ledger Nano S was first launched in 2016 and provides investors a secure way to store their cryptocurrency offline. With over a million units sold worldwide, this device is certainly popular. Ledger, the company, has been creating various hardware relating to Bitcoin storage since 2014.

As stated on their website: "The original hardware wallet. Easily start your crypto journey: buy crypto, secure your assets and manage them in one single-app."

When you purchase the device, you will receive the following:

  • Ledger Nano S
  • 1 micro-USB cable
  • Lanyard for device
  • One keychain and key ring
  • Recovery sheet for writing down Seed Phrase

From a glance, the Ledger Nano S could easily be mistaken for an old USB stick. But upon opening the device, you will see a few unique differences. After opening the device, you will see a small analog screen with two buttons used to move through setup and options.

ledger s

What is the Ledger Nano X?

The Ledger Nano X was first launched in 2019 and provides investors a secure way to store their cryptocurrency offline.

As stated on their website: "The next level hardware wallet. Buy & Securely manage your crypto in one single-app, anywhere you go. Become the only one in charge of your assets."

The main concern with the first model, Ledger Nano S, is the storing capacity. With over 16 times the storage capacity, the Nano X is certainly well-equipped for a diversified crypto portfolio.

When you purchase the device, you will receive the following:

  • 1 hardware wallet
  • 1 USB-C to USB-A cable
  • 1 getting started leaflet
  • 3 recovery sheets
  • 1 keychain strap

Like the Ledger Nano S, the X model also features a small screen with two buttons used for navigation.

ledger x

Ledger Nano S vs Ledger Nano X: Final Thoughts

The safest way to store your cryptocurrency is through cold storage. Without a connection to the internet, you can be sure that your private key is safe from hacking or phishing attempts to steal your login information.

While cold storage may not be the most convenient, it is more secure. With this added security, investors must be aware of a couple extra pieces of information. First, a cold wallet features a seed phrase, or a 24-word combination that allows you to recover assets should the wallet become damaged or lost. This seed phrase could give anyone access to your funds and therefore should be kept secret. Never share your seed phrase with anyone and be sure to record it on a piece of paper or metal card. Second, a cold wallet does not actually store cryptocurrency, but rather the private key that proves ownership of crypto.

The Ledger Nano S and X are both great options for cryptocurrency storage.

The main difference between the two wallets is the storage capacity. They both offer compatibility with over 1,500 coins, but they differ in the number that can be held at once.

While both of these wallets offer a secure way to hold cryptocurrency, one could be better suited for you depending on your portfolio. For those with a smaller portfolio, the Ledger Nano S should certainly be sufficient. However, for investors holding a wide array of cryptocurrencies, the Ledger Nano X may be better suited for you as you can store up to 100 crypto apps at once.

Other differences include the X model having Bluetooth and compatibility with iOS devices. For Apple users, the Ledger Nano X may be better suited for you.

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Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

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