How to Setup Ledger Nano S - Cryptocurrency Hardware Wallet Complete Setup

I will show you how to setup Ledger Nano S. It will be a Complete Setup of a leading Cryptocurrency Hardware Wallet.

What is a Hardware Wallet? Hardware wallets keep cryptocurrency in offline or “cold” storage, meaning they’re not connected to the internet. Hardware wallet are physical devices. They typically resembling a USB stick, which function as stripped-down, single-purpose computers. With a hardware wallet, crypto transactions are digitally signed within the device using your private key, then securely uploaded to the blockchain via a crypto bridge. In Ledger they use Ledger Manager as a crypto bridge.

What happens if you lose your hardware wallet? During the Ledger Nano setup (detailed explained later), you will be back up Ledger wallet seed phrase on a paper and stored in safe. Without it your will you will not able to recover your funds. You must never lose your seed phrase or your funds will be lost forever!

Install Ledger Live Go to start.ledgerwallet.com Download Ledger Live app. Depending on your Laptop or desktop operating system, pick your Ledger Live version. I am on a Windows PC. So, I picked the Windows Ledger Live App. I download it and run the install and Setup it up.

Getting Started with Ledger Setup Click Get Started on Ledger Live. When the Ledger Live says What is your device? Pick Leger Nano S. If you want to recover the Nano S, you can restore with Nuemonics or the 24 seed phrase.Your Private key is stored in nano. Nano acts as a cold storage.

You validate every transcation with Ledger wallet. The whole Ledger wallet installation will take 20 minutes. Make sure you are in a private area away from prying eyes from others because you have to physically write down the private seed phrase in the paper. You do not want anyone to see your seed phrase!

Click I am ready. You need to plug in Ledger Nano S to USB power. It needs the USB power to start up Nano S. It needs USB Power to keep it powered up.

Remember pressing both button is to accept change. Left button to go back. Right button to go forward. When you are in bold face type phase.

Pin Code and 24 word recovery phrase setup Choose your Pin. Pin should be 6 digits. I prefer 4 digit pin because I have to enter every time I plug wallet into the computer because it is a pain. 4 digit pin increase Nano been compromised if you ever get it lost. You can go up to 8 digits. If you enter your pin wrong more than 3 times your Ledger Nano resets itself. Neumonic is your only recover key. Write down the 24 recover phrase from the Ledger Nano stick in order one by one on the sheet provided. Store it in a secured place. Confirm your recovery phrase on the decide. To prevent security risk, you must only connect your nano to Ledger Live when you are offline never when you are online. With your Ledger Nano Seed Phrase, it give access to all your Private Keys for all your Metamask Ledger wallets. After you wrote down the Recovery Phrase, you are ready to Perform a Genuine check before you can use the Ledger Nano on any Defi Platform.

Ledger Nano Genuine Check Ledger Nano Genuine check is important because during you purchasing Ledger it could be infected or compromised. I would as a Safety rule never buy a Second hand Ledger Nano because it could get infected with virus or Malware.

After you have verified Genuine check, you are ready to install app on Ledger apps. Without apps installed Ledger Nano has no use.

How to add Apps to Nano Ledger Nano S? Go to add accounts. Add accounts to get started. This device has 300k bytes of free space for apps. It allows up to 6 apps. In reality it is only 4 or 5 apps. Cardano uses 84k per apps. I am using Ledger Nano S app because almost all my crypto is in Ethereum or Ethereum Virtual Machine supported chains. So, I really need one app for Ethereum and another for Bitcoin.

Next I will show you how to install Bitcoin app. Open Bitcoin app. Add accounts. Open Ethereum app.

Trading crypto assets with the Ledger Nano S Open the Ledger Live wallet. Go to for example the Ethereum. Click Copy Ethereum Address in the Ledger Live Ethereum public address go to centralized exchange to send the Ethtereum and paste the address and send it out.

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00:00 What is a Hardware Wallet? 00:41 What happens if you lose your hardware wallet? 01:07 Install Ledger Live 01:27 Getting Started with Ledger Setup 02:21 Pin Code and 24 word recovery phrase setup 03:18 Ledger Nano Genuine Check 04:19 How to add Apps to Nano Ledger Nano S? 05:03 Trading crypto assets with the Ledger Nano S 06:12 Ledger Nano S Security Consideration from Hacking

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