The first name that comes to mind when thinking about cryptocurrency storage must belong to Ledger Nano S.
In this article, I will show you how to install and use Ledger Nano S wallet as detailed as possible.
Before I begin, I want to STOP that this article is for:
- You want to hold the cryptocurrency for a long time (> 1 year).
- You have knowledge and AWARENESS about the importance and security of the Private Key / Seed Phrase.
- Proficiently used Mobile storage wallets such as Coin98 Wallet or Trust Wallet ...
If you have not experienced the Mobile wallet proficiency, you should download Coin98 wallet, experience before deciding to buy Ledger Nano S wallet and long-term storage of cryptocurrencies.
OK, got it Let's get started.
What is the Ledger Nano S?
Ledger Nano S is a hardware wallet developed by Ledger. It is used to store cryptocurrencies (cryptocurrency) with very high security.
Review of Ledger Nano S wallet
- Support many different cryptocurrencies, this number reaches up to 1250+.
- Simple easy to manage assets.
- Extremely high security.
- The price is quite cheap compared to other hardware wallets.
- Support many languages (with Vietnamese).
- Only 3-4 apps can be installed at the same time.
- Not Mobile friendly.
- Difficult to manipulate for newbies.
Instructions for installing Ledger Nano S wallet
Step 1: Check the device
When you buy the Ledger Nano S hardware wallet, open it to check if the following four components are available:
- Ledger Nano S device (including USB cable).
- Two (02) paper cards, including: 01 manual card and 01 attention card.
- One or three blank "Recovery Sheets". Note, if there is words written on it, you should immediately report to the Ledger Nano S team for assistance.
- Attached devices such as locking straps, pillars ...
After a full inspection, without any doubts, you can proceed to step 2.
Step 2: Activate Ledger Nano S wallet
To start activating the Ledger Nano S wallet, you connect the Ledger device to the computer via a USB cable.
Once connected, the device will display the words "Welcome to Ledger Nano S". You simultaneously press two buttons on the device to begin the installation process.
In case, your device requires you to enter your PIN the first time it boots up. You should not continue to use that device, but immediately contact Ledger's team for assistance.
Step 3: Choose a PIN
After booting, you need to set a PIN (4 or 8 digits) for the device by:
- Press the LEFT button (-1), press the RIGHT button (+1)
- After entering the desired PIN, you press both buttons to confirm that PIN.
- Repeat until the PIN is completed.
- When you have confirmed the last PIN, you press both buttons simultaneously to confirm the PIN.
- After that, you need to re-enter the confirmed PIN to make sure you set up the PIN correctly.
- You absolutely must not forget your PIN because when you trade, transfer coins will need to enter this PIN.
- If you enter wrongly 3 times, all information in the device will be reset ie lose all.
- In case you know you can't remember your PIN, use the 24 characters in step 4 to recover your wallet data.
Step 4: Backup 24 character restore
This is the step EXTREMELY IMPORTANT, it may affect your ASSETS when stored in the Ledger Nano S. wallet. Therefore, please read carefully.
- After completing the PIN setup, 24 recovery words in English will appear on the device one by one.
- Get a pen and paper, and write down ACCOUNTLY the serial number and every letter of each word.
- After making sure you write it correctly, you press the RIGHT button to move to the next word.
- Repeat until the end of 24 characters.
- After making sure to save 24 characters, you press 2 buttons on the device simultaneously to CONFIRM completed.
- Next, the device will ask you to confirm a few random words by giving the number of the word, your job is to press the left / right button to select the correct word with that number.
- Then, simultaneously press 2 buttons to confirm. Repeat for each word required.
When the confirmation is completed, your device is ready for use.
Instruction for using Ledger Nano S wallet
Step 1: Install Ledger Live
After the device has been successfully set up, you need to perform the Ledger Live software installation to begin the process of using and managing assets inside Ledger Nano S.
The installation of software "Ledger Live" is quite simple like other software, download and install it here: https://www.ledger.com/ledger-live/download/
Step 2: Sync devices and Ledger Live
After installing Ledger Live, you need to conduct the Ledger Live device and software synchronization.
Follow the instructions below:
- Open Ledger Live, click "Get Started"> select "Setup as new device"> select "Ledger Nano S" and press "Continue".
- Next, you just click Continue 2 times.
- Go to the "Security Checklist", you need to connect the Ledger wallet to the computer and enter the PIN above to unlock the Ledger device.
- Then, you choose as shown below and click "Check Now".
Next, brothers wait for notification “Allow Ledger Manager” appears and press the RIGHT button on the device to confirm as shown below.
Continue, you need to set a password to access Ledger Live application on the computer.
This is an optional step, so you can set it or not. Then, click Continue to complete the installation of Ledger Live.
Thus, the brothers have completed the synchronization of Ledger Live and equipment.
Step 3: Install the application
After synchronization, you click Open Ledger Live at the end of step 2. Then, look on the left hand side of the screen and select "Manager".
Here, appear the application of each coin, you want to store it, install it.
note: Only installed applications can be stored on your Ledger device.
I will install it Bitcoin, the other fellow brothers do the same.
Meanwhile, you will see on the ledger device will display "Processing". Brothers wait a bit, the installation process will be completed.
So, you have installed the Bitcoin application and can proceed to other coins.
note: Each Ledger device can only install 3-4 coins.
Step 4: Create Account
The purpose of this step is to make it easier for you to manage assets according to your specific purposes.
For example: Account A only receives coins from the company, account B only receives Airdrop rewards ...
- To create account settings, you look on the left hand side of the screen, select "Accounts"> select "Add Account".
- Immediately, a menu window appears for you to choose the coin you want to create an account with.
- Here I will choose Bitcoin, then press "Continue".
- Next, in the "Navigate to the Bitcoin App on your Device" section will show a synchronous rotation.
- You need to select the Bitcoin icon on the Ledger device and press the 2 buttons simultaneously to confirm the synchronization.
- Then, press "Continue" on the computer screen and wait for the synchronization to complete.
- After synchronization, the window allows you to set the account name appears.
- You name your account and click on the box to the right, then click "Add Account".
So you're done setting up your Bitcoin account.
Next, click on the Bitcoin account you just set up on the left and click Received to create the Bitcoin wallet address of that account.
After clicking Received, you need to confirm the Bitcoin icon on the Ledger device, then click Continue> Verify.
In the Receive section, you will see the Bitcoin wallet address for that account and you need to record or save to match the address that appears on the Ledger device.
If it matches, you must press the RIGHT button on the device to confirm and can use that wallet address to receive / send Bitcoin.
Step 5: Receive and send coins from Ledger
Here, I will take Bitcoin as an example. Other brothers do the same.
Receiving Bitcoin is very simple, you just need to give the Bitcoin wallet address created above to the sender.
To send Bitcoin, you click on the "Send" on the left hand side of the screen. Then a window appears.
Here, you need to fill in the following information:
- Account to debit: Choose a Bitcoin account to send.
- Recipient address: Bitcoin address of the recipient.
- Amount: The number of Bitcoin to send.
- Network fees: transaction fee, the default is Standard.
After completing, you click Continue.
On the Ledger device now, you need to check the transaction information. If everything is TRUE, you only need to press the RIGHT button to confirm the transaction. It's done!
How to update the Ledger Nano S Firmware
Firmware updates on Ledger Nano S are like brothers updating iOS for iPhone. The latest version always has better experience and security.
Therefore, if you have Ledger Nano S, you should update the Firmware if possible to ensure the security.
Here, I only instruct to update version 1.5.5 to 1.6 (other versions, you can contact the Ledger support team).
The update is quite simple, you do the following:
Access to Manager, select "Update Firmware" then you must carefully read the displayed message.
note: Any App installed in your wallet, may need to be reinstalled after your update and this will not affect your property.
Next, if you have saved 24 recovery characters please tick the box "I have my recovery phrase" and click "Continue".
Ledger device will display "Processing".
On the Ledger device, the device will display in turn: Update Firmware, Version and Identifier in a loop.
You need, double-check the identification code on the Ledger device to match the code shown on the computer screen.
After confirming that the code is correct, you must press the RIGHT button on the device to start the update.
Next, you need to enter a PIN to confirm and your device will reboot and show Update.
The brothers then disconnected the Ledger device and the computer.
Next, hold the LEFT button and reconnect the device. When the device shows Bootloaders, release the LEFT button.
The update process will automatically continue, your device will show Update and Processing.
After a while the device update process will complete and you need to reinstall the apps in step 3 above.
Maybe you are interested in: Top 4 PRESTIGE Bitcoin wallets on mobile should use
At the end of this article, I hope that the newcomers who can participate in the crypto market can install and use the Ledger Nano S. themselves.
If you have any questions when installing, please leave a comment below so that the Coin98 team can assist you as soon as possible.
Hello and see you again in the next article.