France-based startup Ledger has unveiled its latest hardware wallet with capabilities to manage cryptocurrencies. The wallet dubbed Ledger Nano X is actually a Bluetooth-powered wallet. This means that the wallet can be used for receiving and sending tokens from the Smartphone.
The previous version of the wallet required the clients to access the wallet by plugging a key to the computer by using a microUSB cable. The Bluetooth is the latest technology to have integrated into the crypto wallets. It is, in fact, being considered as the next logical step in the cryptocurrency wallet.
The company is in news for its plans to launch a complete mobile app dubbed Ledger Live. The features of the mobile app will be similar to that of the desktop app. The new Ledger Live will allow the user to install new apps, check balance, and manage transactions right through the screen of the smartphone.
The app is slated to be available starting from January 28. The existing users of Ledger will be able to check the balance in the read-only mode. According to reports, the company has booked a sale of 1.5 million Ledger Nano S till now. There is also news of certain companies working towards developing mobile apps with Nano X compatibility. The appearance and appeal of Nano X are similar to the Nano S. It device has USB-key design with a small screen and certain button. The screen, however, is slightly bigger in the latest device.
Nevertheless, Nano S is said to have one major issue. It is limited to only 18 different cryptocurrencies. However, Nano X has fixed the issue as it comes with the capability to store up to 100 different crypto assets on the device. The device, on the whole, is capable of supporting as many as 1,100 different tokens.
Similar to other Ledger devices, the private keys stay with the Ledger wallet which means they never leave the wallet. This ensures the safety of the wallet as well as the crypt assets from hackers. The firms are said to unveil the new devices at upcoming CES.
The Ledger Nano X is not the first Bluetooth mobile hardware crypto wallet to enter the industry. In 2018, a swish CoolWallet S was released with similar composition and function. Although the latest development is likely to benefit Ledger, the reasonable price tag is yet another thing that has helped keep the company popular among its customers. CoolWallet S carries a huge price tag which has turned down some of its prospective customers. Ledger is expected to keep the prices comparatively low to gain maximum returns.
But despite being the only two Bluetooth hardware wallets out there, they are still far from identical. Ledger’s biggest strength has always been its accessible price tag, while the CoolWallcret S is a more high-end piece of engineering, managing to be the size and shape of a standard credit card but carrying a higher price tag as a result.