Cryptocurrency

Ledger announces next-generation cryptocurrency hardware wallet

Written by Adeel Aslam ·  1 min read >
Ledger

Cryptocurrency provider Ledger, known for its hardware wallets, announced the release of Ledger Nano X, an upgrade to its previous flagship device, the Ledger Nano S.

The older Ledger Nano S is the world’s best-selling cryptocurrency hardware wallet to date, but it’s time for an upgrade. Ledger is delivering that upgrade, and the next generation Ledger Nano X is a Bluetooth enabled wallet, which means that you will be able to send and receive tokens from your smartphone.

Switching to Bluetooth and opening it up to smartphones, is certainly going to help the new hardware wallet manage your cryptocurrencies. Leger Nano S is essentially a high-security USB stick that requires you to hold private keys, to plug into your computer in order to execute a crypto transaction.

The major difference between Ledger Nano S and Ledger Nano X is that the users will be able to use Ledger Nano X with a cellphone, unlike Ledger Nano S which required a laptop. The new Ledger Nano X also has a redesigned interface, a larger screen and six times the storage capacity of the old Ledger.

Ledger is going to launch a mobile app called Ledger Live. You’ll find the same features like the ones in the desktop app. You’ll be able to install new apps, check your balances and manage transactions.
“With its Bluetooth connect-ability and increased capacity, the Ledger Nano X provides an enhanced user experience while delivering the mobility and state-of-the-art security that customers expect from Ledger,” said Eric Larchevêque, CEO at Ledger.

Ledger Nano X will also help reduce the chances of any mishap, by preventing users from accidentally losing funds by trying to send the wrong cryptocurrency to an incompatible address. It will also store private keys in a secure chip that never leaves the device. As such, if the Bluetooth connection were compromised, no hacker would be able to extract private keys or remotely sign transactions.

The Ledger Nano X however, won’t be the first Bluetooth hardware cryptocurrency wallet to hit the market. The first Bluetooth hardware cryptocurrency wallet CoolWallet S, was released in 2018. But despite being the only two Bluetooth hardware wallets out there, they are still far from identical.

The Ledger Nano X device itself is expected to ship in March but its application will be available on January 28th and existing Ledger users will be able to check their balances in read-only mode thanks to public addresses.

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