Starting with Ledger involves a few straightforward steps to ensure your device is ready for secure use.
Unbox and Inspect Your Device
Upon receiving your Ledger device, inspect the packaging for any signs of tampering. Ledger devices come sealed to guarantee authenticity and security. Only use devices from official sources to avoid counterfeit risks.
Install Ledger Live
Ledger Live is the official companion software for your hardware wallet. It allows you to manage your cryptocurrencies, install apps on your device, and perform transactions. Download Ledger Live from the official Ledger website on your computer or smartphone.
Initialize Your Device
Connect your Ledger device to your computer or smartphone using the provided USB cable or Bluetooth for the Nano X. Follow the on-screen instructions in Ledger Live to set up a new wallet. You will be prompted to create a PIN code, which protects access to your device.
Backup Your Recovery Phrase
Ledger generates a 24-word recovery phrase during initialization. This phrase is the ultimate key to your funds and must be stored securely offline. Write it down on the provided recovery sheet and keep it in a safe, private location. Never share this phrase with anyone or store it digitally to avoid hacking risks.
Install Cryptocurrency Apps
Ledger devices use apps to manage different cryptocurrencies. Using Ledger Live, you can install the apps corresponding to the coins you own or plan to buy. This modular system ensures your device only contains what you need, optimizing security and performance.
Once your Ledger device is set up, managing your crypto assets becomes seamless and secure.
Receiving Cryptocurrency
To receive funds, open the Ledger Live app, select the cryptocurrency, and generate a receiving address. Confirm the address on your Ledger device screen to ensure it matches the one shown in the software. This step prevents man-in-the-middle attacks.
Sending Cryptocurrency
When sending funds, input the recipient’s address and amount in Ledger Live. You must then physically approve the transaction on your hardware wallet by pressing the device buttons. This confirmation step adds a crucial layer of security.
Checking Balances and Transactions
Ledger Live allows you to track your portfolio balance in real-time and review transaction history for all supported cryptocurrencies. You can also set price alerts and monitor market trends directly from the app.