If you have made up your mind to invest in a Ledger Nano S, I would say it is a great decision and one you will never regret.
Also, it makes sense in investing a few bucks in storing your cryptocurrencies such as BTC, ETH, LTC, etc. in a hardware device like Ledger Nano S because they might increase by leaps and bounds in the future.
Caution: Only buy ledger Nano S from its official store and avoid other eCommerce stores including Amazon because you can lose your currencies like this man.
Once you have laid hands on your Ledger Nano S, self-educate yourself on how to use it because understanding its functionality is, well, a learning curve.
Keeping this learning curve in time, I thought of writing on a few things that you might need after you have your device in your hands.
Stick around and read this post so you can shorten your learning time and enjoy using Ledger Nano S.
Unboxing Ledger Nano S
The first step towards setting up your device is unboxing your prolific Ledger Nano S device and checking if you have received all the accessories with the device.
In the box, you will typically find these things:
We did an unboxing of our first Ledger Nano S around a year ago, and it was quite fun. Here is a sneak peek:
Configuration Of Ledger Nano S (DIY)
Once you have unboxed your device, you need to configure it and initialize it before being able to use it. The process is quite simple and will hardly take about 20-30 minutes post which you will be set to use your Ledger Nano S device.
First of all, hold the device in your hands and get used to its hardware design. It looks just like a flash drive.
Once you have done that, you should plug-in your device in your desktop or laptop using the USB cable. Now you need to follow the instructions displayed on the screen with the help of the instruction sheet received in the box.
Remember, this is the most important step, and you will be initializing your device with a seed. This seed is everything. You need to guard it with your life because using this seed anyone can steal your coins. This is also known as recovery phrase. Always store your recovery phrase on an offline sheet.
For simplicity, we have done a comprehensive video on the same which I am sure you will thoroughly enjoy.
Note: You will get a 24-word seed or recovery phrase; always keep it safe, away from anyone’s reach if you want the safety of your funds.
Installing Apps On Ledger Nano S
Great! You have done the hard part but you need to do a few more things before being able to use your Ledger device, and that is installing apps.
This is the second most important thing while setting up your Ledger Nano S. Let’s see how to do this efficiently.
In the video below, you will learn how to install:
Note: Ledger manager app is used to install other wallet apps so make sure you look at this video carefully and learn the know-how. You cannot use Ledger manager and wallet apps simultaneously, so you need to close one of them to use another app.
So that’s pretty much everything you can do once you have got your Ledger Nano S device. There quite a few more features and use cases that you might want to explorer with Ledger Nano S in time.
Namely, these are:
You will be required to do these things in various scenarios. Therefore, as a bonus**, I will cover briefly about them and leave you with a DIY video on each of these items.
How To Reset Your Ledger Nano S
Did you know you can make an unlimited number of wallet sets using a single Ledger Nano S device?
For example, you might be required to reset your device if you want to set up a new wallet or wish to have multiple wallets for multiple currencies.
This reset feature will help you reset your device each time you want to do so. But make sure you are keeping track of seed/recovery phrases that you will be generating. Here is a short video on how to reset your Nano S device:
How To Restore A Wallet Using Your Seed or Recovery Phrase
Let us say you were using a mobile or desktop wallet previously and you have the seed or recovery phrase of that and want to move to Ledger Nano S.
So, in this case, you can use this seed to configure Ledger Nano S to restore your coins on it.
Also, let’s say your Ledger Nano S is damaged or lost but you still have the recovery phrase. In this case, you can buy a new Ledger Nano S and restore your all the coins in the new device.
Here is how you can do the same explained in a short video:
How to Upgrade Your Ledger Nano’s Firmware
The Ledger team keeps updating its firmware to enhance its security features and to release new features. They do it also for optimization of the software on the device to increase its effective memory sometimes.
Is it vital to know what a firmware update is? How can you check your firmware version? How can you upgrade your firmware?
To answer these questions, we have recorded a dedicated video to understand the same.
Note: Updating a firmware resets the whole device, so you need to have your recovery phrase to recover your coins post firmware update. If you don’t have recovery phrase stored with you, do not proceed with any firmware update.
How To Use Ledger Nano S With Your Android Devices
Lastly, in this mobile-centric world, of course, you want a device that also works with your mobile. So keeping that in mind Ledger team provides you the option to use Ledger Nano S with your Android mobiles using.
But for that you need some more things and here is short video guiding you on the same:
Ledger Nano S is undoubtedly the leader in the hardware wallet space.
Plus, it is a multi-currency wallet that allows you to store more than 25 cryptocurrencies in a single place which is quite cool.
Also, their development team is very active and enthusiastic about continuously improving their product.
Lastly, the idea of being able to take millions of dollars in your pocket anywhere and anytime in a flash drive-like the device is pretty awesome.
So go ahead and get your device now if you haven’t got it until now and also read: Why Should You Order 2 Or More Hardware Wallets At The Same Time?
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