As you can see, this transaction already has 29 confirmations, so these funds are certainly visible in our Ledger by now.
As you learn more about cryptocurrencies, you will begin to see the risks of leaving your coins on an exchange for long periods of time. Exchanges act a honey pot for hackers looking to acquire large amounts of Bitcoin or other crypto. Gox is probably the the most famous example of an exchange that lost nearly every Bitcoin on deposit. Because of these risks, many hodlers opt for safer, more secure devices, such as hardware wallets, to hold their coins on.
The most popular devices are the Ledger nano S and Ledger nano X which give users full custody of the private keys of the wallet.
Where can I find my Ledger wallet address?
If you cannot see your coins at all after you have transferred them from Coinbase or anywhere for that matter , its probably because you sent them only moments ago. When you sent your coins on Coinbase to your Ledger, you were actually telling Coinbase to broadcast a transaction on your behalf to all the nodes on the network.
By default, Ledger Live sets the minimum number of confirmations to the amount of blocks that fit in 30 minutes. Now all you need to do is take your crypto security to the next level with Billfodl. The Billfodl is a way to backup your Ledger device so that you are protected from natural threats to your coins like fire and flood. You can learn more about The Billfodl or you can add it to your cart by clicking the button below.
Colin is a founder of Privacypros. In his spare time he's a PC gamer. Follow him on twitter. Author: Colin Aulds. Copy this word on paper with its place, 1, and then press the right button to go to the next word. Do this for all 24 words. Make sure to take your time and be careful with this process.
Every word needs to be copied down exactly and in the right order. In the step right after this, you will confirm each word on the Ledger Nano S. There is additional and optional confirmation that you can do, once you sign in to Ledger Live.
Receive crypto assets
We recommend this, because even if just one letter is off, you will not be able to use your word seed to recover or access your cryptoassets. Then press both buttons to confirm word 1. If that still does not work, then try a different USB port. You will be given the option on Ledger Live to create a password. Firmware Update Ledger recommends doing the firmware update before you start using your device.
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When you are in the Manager section in Ledger Live, there will be a notification in the white bar, right above the App catalog if a firmware update is available. If there is no notification, then you have the latest firmware version.
You will be prompted to disconnect and reconnect the USB cable. Press the left button on your device and hold it while you reconnect the USB cable. Once this is finished there will be a confirmation page and you can click "close. Install the apps that correspond to the coins or tokens that you want to store on your Ledger Nano S. After the app is done installing, you will be asked if you want to "add an account.
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Press the left and right buttons to scroll though the various apps on your Ledger device. However, when you uninstall an app, this has no effect on the actual cryptoassets that correspond to the word seed. Remember that your actual cryptoassets are on the blockchain and the word seed is what gives you ownership of them.
Receive crypto assets – Ledger Support
So you may uninstall and reinstall apps whenever you need to manage space on your device. To select an app on your Ledger Nano S, scroll to it using the left or right button. Then press both buttons. Recovery Check As we mentioned earlier, there is an option to do an additional recovery check to make sure you copied down the word seed correctly. This process can be tedious, as you have to select each letter of the whole word seed with only the two buttons.
However, once you complete this process you will be totally sure that you have copied down the word seed correctly. Then scroll to the app on your device and press both buttons to select it. The Ledger Nano will then take you through the steps to confirm your word seed. Set up accounts For every cryptoasset that you use with Ledger Live, you will need to create at least one account.
If you want, you can create multiple accounts for a cryptoasset and rename them as you like. For example, you could create a Bitcoin spending account and a Bitcoin savings account. Once you have installed the cryptoasset apps on the Ledger Nano S, you are now ready to setup accounts and send and receive transactions.
To setup an account, make sure you are logged in and connected to Ledger Live. We recommend first trying to transfer a small amount of cryptoassets to your Ledger Nano S to make sure you understand the process. Select the account that you want to send your assets to. On your Ledger Nano S, select the cryptoasset that you are receiving. Press the right button on the Ledger Nano S to go through the whole address and then press both buttons when the device's screen says "approve.
- Before you start?
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- Write down your recovery phrase (word seed).
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Paste this address into the wallet or exchange that your cryptoassets are currently being stored. When the balance is updated in Ledger Live, then the transaction has been completed. Transactions vary in how long they take, depending on the cryptoasset and the speed of their blockchain.