Image provided by Ledger.com
It is widely accepted that cold storage is the most secure way to store your cryptocurrenices. Cold storage wallets are essentially cryptocurrency wallets which are not connected to the internet; the opposite being hot wallets, which are connected to the internet. Cold storage wallets are also referred to as hardware wallets, and include a hardware device which can be connected to your computer or mobile device, or even exist as a paper wallet. These methods for storing Bitcoin and other cryptocurrencies keep your data free from online vulnerabilities and allow for you to physically store them at a level of security of your choosing.
Dominating the space has been Trezor and Ledger, which are the most widely known and trusted cold storage wallets. Announced today, Ledger has introduced a newer, upgraded version to its popular Nano line of hardware wallets. Ledger is currently accepting preorders for the new Ledger Nano X. Using the same flip-open USB design as the Nano S, the new Nano X offers some unique features, increasing the security and simplicitiy of its predecesor.
Nano X's New Features
- Supports Multiple Currencies: The New Nano X can store up to 100 different cryptocurrency applications. This is a major upgrade from the Nano S's ability to store 40 different cryptocurrncies.
- Bluetooth Mobility: Ledger's other devices, and all other devices of which we're aware, require a physical connection to a computer via some form of USB port. The new Nano X allows users to access their wallet via a secure, end-to-end ecrypted Bluetooth connection. This will require use of their Ledger Live mobile app to access, and is a very nice conveniece to add to a hardware wallet.
- Cutting-edge Security: Private keys (tied to your respective cryptocurrency wallets) on the device are very securely stored on a CC EAL5+ chip; which offers the same level of security as those chips found in credit cards and passports.
At CoinNinja we proudly support products seeking to simplify the usability of cryptocurrencies, while in tandem make them more secure, and we think Ledger has a winner here. We've ordered a couple Nano X's here, and look forward to updating on what we think of them, once they arrive.