Ledger Nano X – a new mobile crypto wallet announced

A crypto wallet company Ledger announced on CES its newest device Bluetooth-enabled Ledger Nano X.

The device is similar to the old Nano S, but is allowing more support for multiple wallets and coin types.

Bluetooth will allow Nano X work directly with mobile devices. The process will be operated through Ledger Live app. The idea is to enable accessing hardware wallets through mobile devices.

Hardware wallets are meant to be the safest way of storing cryptocurrency. They allow you to hold assets as Bitcoin locally, which makes you independent from exchanges. Alternatively, a Bitcoin holder could write the key on a piece of paper.

A typical wallet requires a PIN to unlock with different physical device tied to the same key.

Adding a Bluetooth protocol to a crypto wallet is a bold move as this kind of devices usually connect over USB. Lack of wireless communication is considered to be a safe solution to mitigate the risk of unauthorized access. Ledger representatives argue that the company came up with security and authenticity solutions that would make this kind of attack practically impossible.

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The Nano X costs $119 and will be available for pre-order tomorrow, to ship in March. The corresponding app is expected to go live on January 28th in the iOS App Store and Google Play Store.