The Ledger Nano S is one of the most popular cryptocurrency hardware wallets out there. As any seasoned cryptocurrency owner will tell you, either due to personal experience or “stories” they have heard, the safest way to store your cryptocurrencies is using a hardware wallet. Using a hardware wallet adds a number of steps to a typical cryptocurrency transaction, however, the security provided is vital, especially when big amounts are being exchanged and stored.
Below you will find a detailed guide on setting up your Ledger Nano S and using it for your first transaction.
Step 1: Unbox Ledger Nano S hardware wallet
Step 2: Connect the USB cable included in the package to your Ledger and your computer
Step 3: Go to https://www.ledgerwallet.com/start/ledger-nano-s and install Ledger Live
Step 4: After completing the installation, click on ‘Initialize a new Ledger device’
Step 5: Select your device and click continue
Step 6: Follow the instructions on Ledger Nano s as described on its screen
Step 7: It is now time to create your personal PIN
Step 8: Write down the 24 security words and then confirm again.
IMPORTANT NOTICE: A recovery sheet is included in the Ledger Nano s package. Write the 24 words in the correct order and keep this sheet safe. These words are essential in case of the ledger recovery.
Step 9: Complete the security checklist
Step 10: Confirm that your device is Genuine
Step 11: Reconnect your device to pc and unlock with your PIN
Step 12: Navigate to the Dashboard on Ledger Nano S. A few clicks on the screen will finalize this step.
Step 13: Allow Ledger Manager on your device. If your device is Genuine, you will be able now to proceed to the next step by clicking continue
Step 14: You can now set a password to prevent unauthorized access to ledger Live data stored on your computer. However, this step is optional and you can skip if you wish (we strongly suggest to complete this step for extra security).
Step 15: Click continue to finish the setup
Step 16: Before adding new add accounts, you will need to find and install the respective wallet app. Click open manager.
Step 17: Find the app of the coin you are interested in making a transfer. Let’s say we are interested in Komodo.
Step 18: Click on ‘Install’ next to Komodo. Remember that your device must be unlocked at that point. After a few seconds, Komodo wallet app will be installed on your device.
Step 19: Go back to Portfolio and click ‘Add Accounts’
Step 20: Find and click ‘Komodo’ from the drop-down menu or type the name and click continue
Step 21: Now follow the 2 steps to add the account
Step 22: Reconnect your device and enter your pin
Step 23: Now go to your device and open Komodo. Then click continue to proceed to the next step.
Step 24: Tick Komodo account and go to the next step.
Step 25: The Komodo account has been successfully added to your portfolio. You can now add more accounts or quit and go back to your portfolio.
Step 26: When you go back to the portfolio, you will be able to see the total balance and all the accounts at the bottom. You can also check the percentile change or total change per week, month and year. This can be sorted on the top right corner.
Step 27: Let’s suppose that we want to send Komodo tokens from Binance to our Ledger Nano S.
Click on ‘Receive’ and select Komodo account to credit. Then click continue.
Step 28: To proceed further, you will have to reconnect the device and enter your pin. Then open the Komodo app on the device. Click ‘continue’ to proceed to the next phase.
Step 29: In this step, you will have to verify the Komodo receive address. This will appear on your device when you click ‘Verify’. Please double check that it matches the address on your computer.
Step 30: Copy the address and go to Binance.
Step 31: Login and go to Funds and Balances.
Step 32: Find Komodo and click ‘Withdraw’
Step 33: Paste the address from Ledger Live to KMD Withdraw Address and select the amount you wish to send to your Ledger.
Step 34: For security reasons, you must enter the authentication PIN and confirm the email Binance sent to your email address.
Step 35: Withdrawal request has been successful, and your tokens are on their way to your ledger.
Step 36: You will receive the tokens after a few minutes.
Disclaimer: We advise all readers to conduct careful due diligence before investing in any digital asset, company or other product. Tokens24 is not accountable for any damage or loss incurred, alleged or otherwise, in connection to this publication. The guidelines published in this article are indicative of the process of setting up and using the Ledger Nano S device as experienced by a Tokens24 team member during September of 2018. We will try our best to keep this guideline updated but the information included in this article may become non-valid due to future software updates and changes.