Ledger Nano X is Here and Exciting!

After some slight delays from its original March launch date due to quality control issues, I finally received my Ledger Nano X about two weeks ago. However, after reading a great post by @roleerob shortly after I knew that I needed to separate some time in order to carefully setup my new device as it has had some issues with setup. In addition, my plan with this hardware wallet is to take it with me everywhere as it will be the best way to safeguard my assets but also have then available to use on the go. This made me consider to move some assets to this wallet for future use.

Before getting into some of those details, an important background is that I have never had an exposure to large amounts of cryptocurrencies without hardware wallets as I learned from my research early on that control of our private keys is imperative to participate in these markets. Unfortunately, many have not learned and continue to be victim to security vulnerabilities and often lose assets due to maintaining assets on exchanges. We continue to see these issues come up almost every month as no matter the amount of security implemented, attackers find ways to infiltrate networks as we learned with the recent Binance situation.

One of the factors that most attracts me to cryptocurrencies in general is the ability to achieve monetary sovereignty with my assets. I have experienced a number of situations where this has been taking away from me by centralized financial institutions due to misunderstandings and misinterpretations of contracts, regulations and laws. For example, last year I woke up one morning to see my personal accounts embargoed by tax authorities due to an outstanding tax debt that was actually part of a formal review process for years leading up to the embargo. Without proper notice, funds were taken. This experience encouraged me even more to control my assets.

I took some time this week to finally setup my Ledger Nano X as well as shuffle some assets between hardware wallets and move some assets I have accumulated on exchanges for some time in order to protect them further as options have become available since the last time I sat to organize them. I took some tips from @roleerob and as soon as I opened the box, I connected the Ledger Nano X so that it could have sufficient charge for the period I would be working on it and others. I then organized the wallets and started to setup the device with the Ledger Live App. I found the software to be easy to manage which was expected as I have been using it for some time now. A pleasant surprise was the view and ergonomic feel the new Ledger Nano X has. It is much easier to navigate and read when using. In addition, the installation process of the app for the individual assets was pretty easy as well. The only confusion I had was the need to carefully name the accounts on the App as it consolidates multiple accounts from different devices. However, on the mobile app this is fixed with a clear indication on which device has the assets and accounts.

I was concerned with the mobile application setup as I had not set it up with thr Nano S either as I was waiting to do it all together. However, the ability to set up the mobile app was really straight forward as the app itself would walk you through the instructions in a very detailed manner (after spending five minutes looking for paper instructions). Once it was setup I tried a transfer from my Nano S to my Nano X and had some issues in signing my transaction from my Nano S and had forgotten about activating the browser support function in settings. It went through allost immediately after that.

I then started to make all the transfer I needed to make including bringing over some Litecoin to the new hardware wallet as I look to spend some soon. The wireless feature is great although I admit that it does seem that the battery does deplete quickly. I was so excited that I even went immediately online to order a case for the new hardware wallet so that it can safely accompany in my travels. While we are probably still a ways away from being able to transact often with merchants, I can’t wait to show off these capabilities with some family and friends as I remind them about crypto this summer!

I also caught up and downloaded additional wallets I needed to completely move all assets off exchanges which I was able to do. When comparing how my experiences have evolved since starting this crypto journey almost three years ago, I am extremely positive to see how well the infrastructure and the networks themselves have improved their interfaces and security which has made me even more encouraged about the future of blockchain technology and their cryptocurrencies. I feel confident that this trend will continue and enable more participants to adapt the technology which could lead to building value across not only the ecosystems but also the economy!