What is the Ledger Nano S

If you are reading this guide it is because you will surely have in your hands your new Ledger Nano S.
Congratulations on your purchase !! Now you can secure your Bitcoins and all other crypts in just a few steps. If you do not even know what a Ledger Nano S is, then read our previous article HERE.
But come to us, here is a picture of our “little game”:

You will notice that the Ledger Nano S is characterized by two buttons that we will call the left button and the right button. Their function is to navigate through the multi-selection list, change values ​​or confirm a decision.

Pressing the two buttons at the same time means that you want to confirm / continue and go to the next step or you want to open an application.

Create a new portfolio

Now let’s see how you can create a new wallet with your Ledger Nano S.

▪ Connect your Nano S to the PC via the USB cable.
▪ The “Welcome” message will appear on the small display and then the request to press the two buttons at the same time to continue
▪ Once the two buttons are pressed, a text will appear describing how the buttons work. At this point press the two buttons at the same time to continue
▪ You will be asked if you want to create a new account or restore an existing one. If this is the first time you use the Nano S you will want to create a new account by clicking on the button above the checkmark ✓
▪ Choose your PIN, note that the PIN protects your wallet and will serve you every time you connect the Ledger Nano S to your PC. To enter the values ​​of your PIN you have to choose with the right or left button and press them together to confirm them. For security reasons you will have to re-enter the PIN a second time;

▪ At this point you have to write down the 24 words of security necessary to restore your wallet (useful if your Nano S were lost, broken, corrupted …). To facilitate this, you will be provided with a recovery ticket inside the box and on which you can report the 24 words. The 24 words will be shown in succession on the display of the device. Once you have written the word on your ticket, press the two buttons and confirm the operation. You will have to continue like this until you have written all the 24 words of security.

NOTE: The recovery ticket with the safety phrase is an extremely important element because it must be kept hidden and at the same time must be recoverable because it is the only way to restore your wallet in case the Nano S is lost or damaged .

Guide to the creation of the Wallet with Ledger Nano S.

To use the services of our it is essential to use Google Chrome as a browser. I should download some extensions like the Ledger Manager, the Ledger Wallet Ethereum and the Ledger Wallet Bitcoin (of course it depends on which token you will need to support).

This way you can easily manage everything from Google Chrome applications.

Here is the direct link to the Bitcoin extension:

https://chrome.google.com/webstore/detail/ledger-wallet-bitcoin/kkdpmhnladdopljabkgpacgpliggeeaf?hl=en

Once the extension is installed, here’s what to do when:

YOU WANT TO DEPOSIT BITCOIN ON YOUR LEDGER NANO S:

1. Connect the Ledger device
2. Enter your PIN
3. Open the Bitcoin app on your device
4. Launch the Bitcoin Chrome application on your computer
5. Click on “Receive”, a popup will open
6. Copy the “Bitcoin” address displayed

Please note that Ledger generates a new address every time you wish to receive a payment, thanks to Hierarchical Deterministic (HD) support. Every address generated by your wallet is yours forever, you can use it multiple times or just once at your leisure.

7. Paste the address displayed in the application from where you want to transfer the funds (in your Coinbase wallet for example, or Xapo)
During the reception of payments, the Ledger device can be disconnected because the transactions remain traced on the Blockchain. These operations will be synchronized the next time you connect your Ledger Nano to the internet.

YOU WANT TO MAKE A BITCOIN PAYMENT FROM YOUR LEDGER NANO S:

1. Connect the Ledger device
2. Enter your PIN
3. Open the Bitcoin application on your Nano S (right click)
4. Launch the Bitcoin Chrome application on your computer
5. Click “Send”, a popup will open
6. Fill in the required data: amount, destination bitcoin address, commission level
7. Click on the “Send” button.

Your Nano S will require your manual consent to authenticate this transaction: press the right button (above the “V” control icon) to confirm after verifying that the transaction details are correct and wait for the Chrome application to display the written “Validated”

8. The validated transaction will be entered on the Blockchain as soon as confirmed by the miners in accordance with the Bitcoin protocol. Waiting for this confirmation, the Ledger device can be disconnected because the transactions are monitored on the Blockchain. These operations will be synchronized to your wallet when you open it.

Investing in cryptocurrencies and other initial coin offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation of Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since the situation of each individual is unique, a qualified professional should always be consulted before making any financial decision.



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