Many people won't buy a Nexus device because of there not being an SD card slot. Well on previous models we had a feature called USB OTG and OTG stands for On The Go. Where you could plug in USB devices to your Nexus 4 with a cable and it would work great. You could use that to plug in a keyboard or a mouse or even more storage. Many people were surprised that the Nexus 4 didn't support USB OTG, which was due to both hardware and software problems. As we know, software isn't the biggest problem, but hardware was.
The Nexus 4 doesn't provide the right voltage required to power USB devices. This solution does lack some elegance, but who cares? It actually works now. By connecting a three-way Y cable, you can then plug in your USB drive, or keyboard or any other device to use on your Nexus 4. You'll need a USB power pack to carry around as well, unfortunately. Sure it's not the most convenient way of doing things, but at least it works now.
As we've said the hack isn't the best way to do it. In fact it's even called a "Dirty hack" on XDA. You can check out Ziddey's thread on XDA where he explains how to enable and use USB OTG on your Nexus 4. It's also thanks to CaptainMuon for getting this started for us all to enjoy. Of course you'll need to be rooted and running CWM or CWM touch recovery 22.214.171.124 to use this. Ziddey has noted that there have been problems with his script and some other recoveries so it's best to stick with ClockWorkMod. You'll also need to be running Android 4.2.2.
So there you have it, USB OTG is available on the Nexus 4, at least in some form. So for those that were really looking forward to using it, check out the thread on XDA for the complete instructions. Let us know how it works out for you in the comments below.