Setting up your Ledger NANO S - cryptocurrency storage.

(7)
  • Published At: 03.02.19 16:43
  • Last Updated At: 24.07.19 05:43
  • Total Views: 337
Firebeard Jeff
  • 132
Edit

So here you are, you have in your grasp some precious bitcoin, or if you so choose an equally valuable Alt coin, but it’s still on an exchange, do you keep it on there? It has a wallet, it seems secure…NOOOOO! Unless you are day trader, remove it NOW and get it safe! If you are not looking to sell anytime soon, get it into an offline wallet. This is the only sure-fire way of ensuring your crypto destiny is solely in your hands. You are the bank and you have control of your money.

So the million dollar question (literally quite possible) how do get your coins safe and in your control. In this short guide you will learn how to set up a ledger, the most reputable and secure wallet out there and within a good price range - a Ledger Nano S.

 

Starting your wallet.

The first step is to create your wallet. Upon unboxing you will find this:

In the box

 

If you don’t find these items, do not send a single coin to your ledger, it is likely to be a fake.

 

Nano design.

 

Get used to the design of your ledger Nano, the two buttons on top are important for navigation within the console. Then once you've turned the little beauty over in your hand a few times and marveled at its simplicity, begin......

 

1.       Take your USB cable and plug it into the ledger Nano and then into your computer. This will boot the device.

 

2.       It will come up with a screen saying ‘press both buttons to begin’ press both buttons

 

3.       READ THE INSTRUCTIONS ON THE LCD DISPLAY – take the time to do this, you wont actually be able to use the device until the instructions pass.

 

4.       ‘To begin configuration press both buttons’ will display on the screen. Press both buttons. Then the right button to confirm the action.

 

 

5.       ‘1. Choose your PIN code’ – Choose wisely, you will need this to unlock the ledger each time you use it.  – Press both buttons to confirm the action.

 

6.       Next you will need to enter your pin code, take your time and use the top two buttons to navigate through the numbers, pressing both at once moves onto the next number entry. WRITE DOWN YOUR PIN CODE!!!!!

 

7.       ‘2. Confirm your PIN code’ – re-enter the same PIN code as before. Press both buttons to move to the next screen when complete.


8.       ‘3. Write down your recovery phrase’ – Use the recovery sheet for this, write down simultaneously in a notebook. It is not advised to store it on a computer, as this recovery phrase is your ticket to recovering your wallet on any new Ledger.

 

9.       TAKE YOUR TIME!! Make sure your recovery phrase is accurate, you can use the top two buttons for navigation forwards and backwards.

 

10.   ‘4. Confirm your recovery phrase’  This step will ask you for a few words to confirm from your recovery phrase.

Your Ledger is now set up! The next steps are to download the correct firmware and official app ‘LEDGER LIVE’ from www.ledger.com  - Once this is downloaded it is a simple plug in and play.

Follow the instructions in the ‘LEDGER LIVE’ app and install the relevant wallets.

Courtesy of hardware-wallets.net/ledger-nano-s-review/  

 

And there you have it, your ledger is set up and ready to go. Easy as pie! Just remember, store all your passwords offline, in a secure place, and take your time. For any problems, Ledger support are excellent and very attentive. Just navigate to their website and they can help you from there.

!HAPPY TRADING!

 

* 'In the box' and 'Nano design' pictures courtesy of coinsutra.com/edger-nano-s-setup-guide/  

Contributors

There are no approved edits.

Table of Contents