Ledger Nano X Review: Is It Still Worth It for Canadians in 2026?
How we reviewed this: from the manufacturer’s own documentation and published security research.
The Nano X remains the best-known hardware wallet in Canada - but it has also had more headline-grabbing security incidents than any competitor. Here is what actually happened, what it means for your funds, and where it now sits against the Trezor Safe 3, which we name best overall.
By the CryptoNorth Team
What the Ledger Nano X Is
The Ledger Nano X is a hardware wallet that stores the private keys to your crypto offline, on a dedicated secure chip, so they can never be extracted by malware on your phone or computer. It connects over USB-C or Bluetooth 5.2 and pairs with the Ledger Live app for managing, staking, and swapping assets [1].
Unveiled at CES 2019, it was Ledger's first wallet with Bluetooth and a battery, aimed at people who wanted cold storage without being tied to a desktop. It still sits in the middle of Ledger's lineup - above the budget Nano S Plus, below the touchscreen Ledger Stax [1].
Security Architecture
- Secure Element chip: ST33J2M0, certified to CC EAL5+ - the same certification standard used for banking cards and passports [2]
- Operating system: Ledger's proprietary BOLOS OS isolates each crypto app so one compromised app cannot read another's keys [2]
- Key custody: Private keys are generated on-device and never leave the chip; every transaction requires a physical button-press confirmation on the device screen [2]
- Storage: 128x64 monochrome OLED screen, room for up to 100 installed apps, ~100mAh battery [2]
In over six years on the market, the secure element itself has never been remotely compromised. Every publicized Ledger incident - covered below - happened outside the chip, in software, marketing systems, or human behaviour.
Ledger's Security Incident History, Explained
Ledger has had more publicized incidents than Trezor or Coldcard - but almost none of them involved the hardware itself. It's worth separating "customer data was exposed" from "crypto was stolen," because they are very different risks.
Attackers used a leaked API key to access roughly 1 million email addresses and around 270,000 customer records (names, phone numbers, mailing addresses). No passwords, seed phrases (the recovery words that control your coins), or funds were exposed. Fallout: victims later received phishing letters and fake replacement devices by mail [3][4].
Ledger announced an optional paid backup service that could split an encrypted copy of your seed phrase across three custodians. No funds were ever lost, but the announcement revealed the firmware technically had a pathway to export key material off the chip, contradicting Ledger's earlier "keys never leave the device" marketing. Ledger paused the rollout and committed to open-sourcing the relevant code amid the backlash [4].
A former employee's NPM account was phished, letting attackers push a malicious version of the Connect Kit library used by many DApps (Zapper, SushiSwap, Kyber, and others). It tricked users into signing token-draining transactions - roughly $484,000 was stolen. This was a software supply-chain attack on a web library, not a hardware compromise; Ledger devices still require a physical confirmation, which is why on-device transaction verification matters. Ledger shipped a genuine replacement build within about 40 minutes of becoming aware, with the draining window under two hours [4].
A breach at Ledger's third-party checkout partner, Global-e, exposed customer order data - names, contact details, and purchase history. Once again, no crypto assets, passwords, or seed phrases were involved. Ledger reiterated that it never mails hardware unprompted or requests seed phrases [4].
The practical takeaway: if you own a Ledger device, expect to occasionally receive phishing emails or physical mail referencing your real name and address - that data has been exposed multiple times. Ledger will never contact you asking for your 24-word seed phrase, and no legitimate support process ever needs it. Treat any such request as a scam.
Features and Ecosystem
The Ledger Live app is the main draw for most Canadians: portfolio tracking, in-app buy/sell/swap, staking for major proof-of-stake coins, and NFT management, plus WalletConnect and MetaMask integrations for DeFi. Ledger lists 500+ assets supported natively in the Ledger Wallet app, with thousands more reachable through third-party wallet integrations [1][2].
Bluetooth 5.0 lets you manage the wallet from the Ledger Live mobile app without a cable - useful if you check balances or stake on the go, though many security-conscious users prefer the wired-only Nano S Plus or Trezor for a smaller attack surface.
Pricing and Where It Fits
Higher-certified EAL6+ element (ST33K1M5), USB-C only, no Bluetooth. Best value if you don't need mobile access.
Bluetooth + larger battery. Best for iPhone and mobile-first users.
Fully open-source firmware and a color touchscreen, for users who prioritize auditability over Ledger's ecosystem size.
Pros and Cons
Frequently Asked Questions
Yes. The secure element chip has never been remotely hacked. Every past incident involved customer data, a paused optional feature, or a compromised third-party software library - not the device itself. Buy only from ledger.com or an authorized retailer, and never enter your seed phrase anywhere except the device.
Not for your crypto - no funds or seed phrases were exposed in either incident. Do be alert for phishing emails, texts, or physical mail that references your real contact details and asks for your recovery phrase or claims to be a "security update." Ledger will never ask for your seed phrase.
Both use EAL5+/EAL6+ certified secure elements and are safe choices. Choose the Nano X for broader coin support and Bluetooth convenience; choose the Trezor Safe 5 if fully open-source, independently auditable firmware matters more to you than ecosystem size.
If you don't need Bluetooth and mostly manage your wallet from a desktop, the Nano S Plus uses a higher-certified ST33K1M5 (CC EAL6+) rather than this device’s ST33J2M0 (CC EAL5+), at CAD $74. The Nano X is worth the upgrade mainly for the mobile app convenience.
This page is for informational purposes only and is not financial, security, or legal advice. Hardware wallet security depends heavily on how you use the device - always buy directly from the manufacturer, verify your seed phrase offline, and never share it with anyone. CryptoNorth may earn a commission if you buy through links on this page, at no extra cost to you. This does not affect our assessment of the product.
Buy new, direct from Ledger. Never from a marketplace or reseller — a tampered device looks identical to a genuine one.
