Ledger live wallet – A comprehensive guide to the wallet

Over time the roots of the crypto industry have increased drastically in number, now more and more people are looking forward to crypto investing. But this has also raised cyber security crimes as well. Often the cases of software wallet hacked or funds being stolen have come forward from the customers. Thus to eradicate this, the launch of hardware wallets took place. Mainly two types of hardware wallets give tough competition to each other namely Trezor Wallet and the Ledger wallet. The common thing about both these wallets is their use of software wallet applications. The presented article here is on the discussion of one of the software wallet applications of these hardware devices. So, if you’d like to know about the Ledger Live wallet then do take a look till the end here.

What is a Ledger wallet?

A ledger is a hardware wallet device that permits traders to store currency offline. This keeps your stored assets safe from offline scams. All you have to do is just connect the Ledger live wallet application to the hardware wallet device. On the official website https://www.ledger.com/ledger-live here you can gather all the information you might need. However, make sure to always believe in the data available on the official website rather than the unauthorized articles. This will prevent you from falling into the trap of cyber scams. Now, that we’ve provided you with the general information on the Ledger wallet let’s move further with the details to help you understand better.  

Ledger Live Wallet advantages and disadvantages

Advantages:

• Crypto price tracking.

• Excellent security level.

• Advanced level of features available.

• Provides a wide range of cryptocurrencies.

• Availability of other devices that give the users a choice to select their wallet.

Disadvantages:

• Mandatory use of hardware wallet.

• Ledger live wallet application is the main weakness.

• High price of the product.

Types of Ledger

There are different types of Ledger wallets available you can order any one as per your preference. Here is the list of said devices:

• Ledger Flex

• Ledger Nano S Plus

• Ledger Nano X

• Ledger Stax

All of these devices will work only with the Ledger live wallet. Thus keep your Ledger Live latest version from the official website.

Ledger Live Desktop Download

Ledger is not a software wallet that you can download on your respective device and then start to use it. This is a hardware wallet that would require you to place an order on their official Ledger Wallet website. However, there is one software application that you will need to install if you would like to use Ledger as your crypto wallet. And the name of that application is Ledger Live Wallet. To get this application, here is the procedure on how you can install it, follow it to the end.

1. Click open the link here https://www.ledger.com/ledger-live-download.

2. Press the button of Download Application.

3. It will provide you with three download options.

4. Select the suitable option as per your device.

5. Or just scan the given QR code, placed on the right side of the download button on the screen.

Soon the download will begin and you will be able to view the downloading progress on the toolbar of your browser. If you prefer to download the application, any other way, then before you install it, just check on the wallet link. If it does not seem authentic to you, then avoid using it before it harms your device.

Set up Ledger hardware wallet

Quickly let’s proceed to the wallet setup procedure, the quicker you finish this procedure the faster you will have access to your wallet account. Since you know that there are a few range of products launched by the Ledger, with different features than its other product. Even the price range of the products differs. Thus, if you have the Ledger Nano S hardware wallet device, then here we have the setup procedure for it. Proceed further with the setup guide, only if you’ve at least fifteen minutes to spare on the setup. So, now here is the setup procedure for the wallet:

1. With the use of a supplied USB Cable, connect your Ledger Nano S and the laptop device.

2. The device will now display, Welcome to Ledger Nano S.

3. Open the Ledger Live Wallet application installed on your device.

4. To move around the screen of the wallet, press the left and right buttons given on the wallet device.

5. Now, press the given buttons simultaneously to select the option of Set Up as a new device.

6. It is time to set up your PIN code now, on the displayed wallet device.

7. Use the buttons on the wallet to set up your PIN. Repeat this procedure until you have a PIN of 4 to 8 digits.

8. Give PIN confirmation, and enter the said login PIN code again.

9. At last, write down your recovery phrase on the recovery sheet you got with the wallet.

Follow any other of the remaining procedures to finish the Ledger Setup.

Ledger Live Login

Now, we will explain to you the detailed procedure to learn about wallet login with the use of the Ledger Live Wallet Application. Read through the steps here and perform them on your device for account login.

1. With your USB Cable, connect the Ledger device to the laptop.

2. On your Laptop click Launch the Ledger live app.

3. Enter the login PIN using the buttons of your wallet.

4. Check the PIN you’ve entered for any possible mistake.

After the full execution of these four steps, you will be on the homepage of your account. Start to transfer digital assets through it whenever you want.

Final Thoughts!

Here we end our guide of Ledger Live Wallet setup, dividing it into three procedures only. And if you would like to start using this wallet, perform the measures explained above. Also, for any issue, the official Ledger Website is always available for you. Even the team of customer support is always available to help if there is an issue. Make the correct choice of opting for the hardware wallet as your crypto-storing wallet.

Faq –

Is Ledger Live a wallet?

Ledger Live is a software wallet application to supports the services of the ledger hardware wallet. It is mandatory to use this application to execute your transactions and much more.

What are the downsides of a Ledger wallet?

The downside of the ledger wallet is that in case of any damage to the device you will have to purchase it again. This might prove to be a lot more costly than it is as the price of the Ledger Wallet is high.

What is better than a Ledger wallet?

The biggest and worthy competitor of Ledger Wallet is the Trezor Wallet. Both these wallets offer an exemplary range of services for easy crypto trading.

Does Ledger work with iPhone?

Yes, as per the recent update, the working ledger wallet with the iPhone has now been made available to the users. Earlier there were several complaints raised by the people to introduce this update.

Can Ledger access your private keys?

No, unlike software wallets this hardware wallet does not take away your privacy. The ledger hardware wallet does not take away the access of your private keys. The account holder is the sole person to have access to it.