How To Set Up Your Ledger Hardware Wallet? - Ledger Walletby Sara Billy Java Developer
What is Ledger Hardware Wallet?
Whenever thinking about the security of cryptocurrency, you will get several options to protect your crypto coins. One of the best ways to keep your cryptocurrency safe and secure is by accessing the hardware wallet. It helps you to avoid losing your assets. It renders high security against hacking your crypto assets because you need to have the device to get the private key. It makes hacking more difficult. If you look for the best hardware wallet, you will end up at the ledger hardware wallets.
Ledger is the reliable and registered trademark of the hardware wallet. It helps you store, send and receive cryptocurrencies without compromising safety. This wallet is not a space where you store your crypto coins. Instead, it is the script of the private key. The crypto assets store on the network through the blockchain. Ledger wallet is available for Mac, Windows and Linux systems. At present, it allows trading with the Bitcoin, Ether, Dogecoin, Litecoin, Stellar, and Polkadot networks.
Ledger is a well-known and established manufacturer of hardware wallets. It is also one of the leading and reliable solutions in the blockchain industry. Ledger renders two different devices, such as Ledger Nano S and Ledger Nano X. These hardware wallets are multicurrency wallets accessed to store private keys for cryptocurrencies offline.
Since a ledger wallet is the smartest way to buy, secure, exchange and grow crypto assets, millions of people trust this wallet. Apart from keeping your crypto safe for the future, this wallet helps you manage it daily.
How to set up the Ledger Wallet?
Are you decided to use a ledger wallet to store your coins? Well! It is mandatory to set up the Ledger hardware wallet to make transactions. Here are the steps to follow to set up the wallet.
1. Open the hardware wallet box
Get the Ledger’s box in which you will find the ledger wallet, micro USB cable, recovery sheet for writing down the recovery seed, and lanyard to wear the device around your neck.
2. Download and install Ledger Live
Next, visit www.start.ledgerwallet.com to get started with your device. Then, download, install and open Ledger Live on your computer and choose your favourite theme. Then, click on “get started”. Tap on set up as the new device and choose your hardware wallet. Finally, you have to press continue. Ledger Live is the software that allows you to set up and manage your assets on your device. So, install it on your device properly.
3. Connect your device to the computer
Use the USB cable that you get with the hardware wallet to connect Ledger to your company. Upon successful connection, you will get the welcome message on your device. In your device, you have two buttons – left and right. Use these buttons to navigate through the on-screen instructions. Press both buttons simultaneously to move on to the next step. Next, choose a PIN code to unlock your device every time you use it. Ensure you write down the PIN code and keep it safe. Even though you can choose a PIN code of 4-8digits, it is always recommended to use 8-digit PIN for added security.
4. Recovery seed
Next, you have to write down your 24-word recovery seed/phrase. The recovery seed is the readable form of your device’s private keys, and it is the only backup of the device. So, you should not share it with others and do not save it in your phone or system because hackers will get easy access to the recovery seed.
Always write down the recovery seed in the recovery sheet and keep it safe. If someone gets access to the recovery seed, they will utilize your funds. Then, navigate through the security reminders and tab both buttons to continue.
Your device says it is ready to go, and the tab continue button in Ledger Live. Then unplug the ledger Nano X wallet from your computer and plug it in again to check the security. Enter your PIN Code and allow the Ledger Manager to run the integrity check on the device.
5. Set the password for Ledger Live
Set up a strong password to secure your Ledger Live data on your computer. Remember that Ledger Live includes your account names, transactions, balances, and public addresses. Ensure you use the mix of upper and lower case letters, symbols and numbers.
After setting the password, you should press continue. Then, you will ask about the bugs and analytics information. It is completely up to you, and thus, choose your favored settings and then click continue.
6. Ready to use the device
That’s enough! You have set up your Ledger hardware successfully. Navigate to the manager section of your Ledger Live menu to start using the wallet on your device. It is highly recommended to upgrade to the latest version when you get a new Firmware update. Now, your device is set up.
Install the applications you want to use by choosing “add account”. Confirm you have chosen the correct asset, and then press continue. Open the corresponding cryptocurrency app on your device. Then, your accounts will synchronize. Your account has been successfully, and thus, you are ready to start receiving and sending cryptocurrency from your ledger crypto wallet.
Benefits of choosing the ledger hardware wallet
- The Ledger hardware wallet combined with the Ledger Live app is a reliable way to secure your funds. Your hardware wallet keeps your private key safeguarded, and thus your wallet renders you the freedom to manage your cryptocurrency on your own. Within one app, you will purchase, exchange and grow your cryptocurrency securely.
- Ledger hardware wallet acts as the one-stop-shop destination for your cryptocurrency. It helps you manage more than 1800 coins and tokens with the app from your phone or desktop. It gives you access to several different crypto services. It allows you to grow your assets and manage all your actions.
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Created on May 20th 2022 06:19. Viewed 158 times.
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