You should order a replacement and use your recovery seed phrases into your new device. If you don’t want to use Ledger Live, and you’ve already got your full node connected to Electrum, you can also use the Nano there as well. I just wanted you to know that if you are running a full node, it is possible to verify your transactions on your Nano device with it natively via Ledger Live.
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Ledger provides a couple of pieces of paper to write down this series of words during device setup. This is a topic that isn’t easy to show off since there are so many places you can send coins from so they end up on your Nano. The Ledger software will make sure that the device is genuine and has not been tampered with through a process called Root of Trust. Click both buttons on the Nano at the same time to confirm.
Once you write down the final word, scroll back through your words to check for spelling and word order one last time. When you’ve checked them all, scroll right until the device shows “Confirm your recovery phrase”, and press both buttons. You’ll then verify each word, in order, from 1 through 24. Starting with Word 1, use the buttons to scroll until the correct word is shown. Press both buttons to confirm, then you’ll move on to confirm the next word. When you confirm the last word, you’ll see “Your recovery phrase is set”.
Keep your Recovery Phrase Safe!
Make sure you wrote them down correctly, and try to confirm again until you get success. The left and right buttons are useful for navigation and changing values. Next, you will receive on-screen instructions about how the buttons work. Next you’ll be taken to a screen that tells you to connect your Nano device to your computer. To setup your Ledger Nano, the first thing to do is go to the Ledger Live download page on Ledger.com and download the software.
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Ledger Live™ is the companion app to your Ledger wallet. Download to set up your Ledger wallet and begin securely managing all your digital assets in one place. Yes, Ledger Nano S is a cold wallet that can store Bitcoin, Ethereum and other supported coins. Ledger Nano wallets also support passphrases (aka ‘25th word protection’). This is why many people choose to use a device called a Billfodl to store this series of words on pieces of stainless steel, impervious to fire and flood.
- First install Ledger Live, connect the Nano X and enter the “Manager” interface.
- Pay extra attention to this step and make sure you write down every word as written on screen.
- When you’ve checked them all, scroll right until the device shows “Confirm your recovery phrase”, and press both buttons.
- After inputting all the transaction details on your computer, as an additional security measure, you can double check the details on the device.
- This is a topic that isn’t easy to show off since there are so many places you can send coins from so they end up on your Nano.
Use the button to scroll right, until it says “Set up as new device”. Press both buttons simultaneously to make that selection, then you’ll see it’s time to set a new PIN code. Ledger Nano S works works pretty like any hardware wallet. First, you plug it into your computer, set it up, then you choose a PIN code to protect the device from unwanted access. Then you will receive a 24-word seed phrase whici is your private key. They add an extra layer of security by storing the private key on the device itself.
It is almost always that simple, but if that was confusing, the Coinbase to top 10 most profitable crypto coins to mine in 2020 Ledger guide below really shows it in much greater detail. You can have multiple different “accounts” for different pools of that coin. This is purely for your own organization and how you want to spend it. It’s all one big pile of money, but you separate them into savings and checking based on your needs.
You will need to keep it very safe because if someone gets access to that paper it is essentially the same as stealing your wallet. To use different cryptocurrencies on the Ledger Nano X, the app for that coin needs to be installed on the Ledger first. This is done via the Ledger Live app on either Windows, MacOS, Linux, Android or iOS.
Wallets for different coins on Ledger Live are created by installing “apps” on your device via Ledger Live. If you have made any mistakes when you wrote down your recovery phrase, you want to figure that out now, instead of later on when you try to recover your coins. This step is the most time-consuming and annoying of of this setup, but it’s also an essential one. On the Nano, scroll through the explanation by tapping the right button until you see the first word, labeled “Write Word #1”.
You have to make sure that your device was not preconfigured with a PIN code that you did not choose yourself. When you turn it on for the first time, the device should display ‘Welcome to Ledger Nano S’. Here is a great guide from Ledger on how to set that up. That said, if you forget your 25th word and need to recover your wallet, you are screwed. So keep that in mind when deciding whether or not to use this feature. And we also now know that if you Nano is ever lost, stolen, or destroyed (or you forget your PIN), you will need those 24 words to get your coins back.
Through the Ledger Live app and our partners, you can securely buy, exchange and grow your crypto. Some advanced crypto investors use more than one hardware wallet to sign transactions. You might add a 25th word if you want to add extra security to your recovery phrase in case someone finds your 24 words. Because of that, I recommend you check out my other article on how to send coins from Coinbase to a Ledger Nano (linked below). We need to set up an individual wallet and send coins to it.
One of the biggest features of the Ledger Nano X is the support for mobile phones (both Android and iPhone). The new Ledger Live app allows for both sending and receiving of all supported cryptocurrencies on the go. We have now covered all of the basics, but before I conclude, I want to talk about a couple of other features you might want to consider when setting up your Nano hardware wallet. In my experience, it is best to unlock Nano, then create the receive address in Ledger Live, then open the app on the Nano once Ledger Live instructs you to do so.
Transactions must always be physically verified on device by pressing both buttons. Moreover, on the Nano X screens and buttons are directly connected to the Secure Element (single chip architecture), which is also an enhancement of the general security design. Ledger Live Mobile also supports the installation of various apps for different cryptocurrencies via Ledger Manager, just like the desktop version. The mobile app boasts the same functionality as the desktop version with the notable exception that it does not yet allow firmware updates. Another reason to add a 25th word is to create a “dummy account” in your device that holds a small amount of coins. This protects you from what is called a “$5 Wrench Attack”.
