To use different cryptocurrencies on the Ledger Nano X, the app for that coin needs to be installed on the Ledger first. This is done via the Ledger Live app on either Windows, MacOS, Linux, Android or iOS. First install Ledger Live, connect the Nano X and enter the “Manager” interface. The app will require you to unlock the Ledger by entering your pin and entering the home screen.
Hardware wallets can protect you against these things. They add an extra layer of security by storing the private key on the device itself. The only way to hack it would be to have physical access to the hardware wallet or with the backup phrase. The smartest choice when securing your crypto is using a hardware wallet that stores private keys offline, making them independent of third parties and resistant to online threats. Software wallets store private keys on systems that are connected to the internet, making them susceptible to all kinds of attacks.
Manage 5,500+ coins and tokens
Today, you’ll be learning a lot of cool things about wallets, like what they are, their types, and what kind of wallets are suited for beginners. With the Ledger Nano X, you can secure and manage over 5,500 coins and tokens. You can stake Tezos, Tron, Cosmos, Algorand or Polkadot directly via Ledger Live. You can also lend DAI, USDC and USDT and let your crypto do the work.
It’s a bang for the buck
Your wallets can be easy prey to the greedy clutches of hackers that want to take away your crypto-goods. When what is a devops engineer you own crypto, what you really own is a private key that gives you access to your coins. Ledger wallets are the best way to own and secure this key.
It helps you seamlessly manage cryptocurrencies while the Ledger Nano S securely stores your keys offline, away from harm’s way. Meaning that any action taken through the software will require a confirmation from your device. what is a cryptocurrency exchange To send cryptocurrencies, the device must be present to sign the transaction via Bluetooth.
When you’ve checked them all, scroll right until the device shows “Confirm your recovery phrase”, and press both buttons. You’ll then verify each word, in order, from 1 through 24. Starting with Word 1, use the buttons to scroll until the how to short cryptos correct word is shown. Press both buttons to confirm, then you’ll move on to confirm the next word.
Safety first and always
- With the Ledger Nano X, you can secure and manage over 5,500 coins and tokens.
- After plugging the Nano S into your computer via USB, you can easily follow the on-screen instructions to set up your wallet.
- So please, whatever you do, do not use apps, screenshots, or password managers to store this phrase.
- Scroll right, then press both buttons to access the dashboard.
Once it powers up, use the black and gray buttons on the front of the device to scroll through the navigation instructions. Use the button to scroll right, until it says “Set up as new device”. Press both buttons simultaneously to make that selection, then you’ll see it’s time to set a new PIN code.
This means it will never give any control to other external devices and communication is limited to transaction signing only.
There will be a sheet where you can write down your 24-word recovery phrase. This is the most important part because it acts as a backup to the device. You will need to keep it very safe because if someone gets access to that paper it is essentially the same as stealing your wallet. It’s only natural that you’ll need the freedom of a smartphone to buy and trade your assets while you’re on the move.