It is easy to set up and use a ledger Cryptocurrency wallet. The device will create a private key letting the user access their digital currencies. Everyone must notice the recovery seed in the safe destination. There are different ways to set up the hardware wallet such as creating a new wallet and restoring the wallet with a recovery phrase. If you are a new user, you can follow the below-given tips to set up the ledger crypto wallet.
First, go with creating a new crypto wallet. Plug the hardware wallet into the USB port of the desktop. Wallet display says configure as a new device. Click both buttons at once for yes.
he user wants to enter a new protection PIN. It is vital to access the wallet so maintain it randomly. Ensure you should remember the PIN. Press two buttons at once to proceed
Use the right or left button to scroll up or down the number for creating the protection PIN. Press both buttons at the same time to go to the next step. Re-enter PIN for confirmation.
Now, write down the recovery phrase for a new wallet. It provides the user access to their assets if they lose the device.
Note: you must keep the words used for wallet recovery safe. Write the recovery word on the sheet and keep it out of a stranger’s reach. Never lose the recovery seed and share anybody. In case your hardware wallet gets stolen, you can use these words to access your tokens and coins.
After verification of recovery phrase, you need to set up the security procedure. Now, the lender wallet is ready to send or receive Cryptocurrencies.
From the trusted Cryptocurrency website, you can start trading on your favorite digital currency. You never share the private key and recovery seed with anyone which increases the risk of losing currencies.
Now, many people are switching the hardware wallet because of high security. The followings are some reasons for using the cold wallet for Cryptocurrency.
Send and receive digital currencies
It is easy, safe, and convenient to make crypto trading with the Ledger wallet. Ledger Manager supports hardware devices. The user needs to download and install the app on the desktop. In addition, the company offers the Ledger Live option for Smartphone users. It enables you to send and receive coins easily but you need a stable internet connection.
Update firmware regularly
In addition, the ledger wallet updates the firmware constantly to keep on higher security. The user doesn’t want to schedule when releases new version. Ledger wallets will receive updates quickly whenever they launch.
Anti-hacking feature
Offline wallets keep the Cryptocurrency outside the hacker's reach. People with bard intention are to hold the device and they will get a previous PIN that has three-time limitations. When a user enters an incorrect PIN twice, the wallet will go through a timed lookout. By using the backup recovery phrase, you can regain access to the hardware wallet.
Supported multiple coins
Another benefit of using the Nano S wallet is that supports several Cryptocurrencies. It includes Etherium, IOTA, Bitcoin, Dash, XRP, and much more. You can trade on any Cryptocurrency from one device and get a hassle-free trading experience.
User-friendliness
Ledger cold wallet has a user-friendly interface. The users can use two buttons to control the device. It has a small screen so the individual can explore what are doing in the wallet. Without technical skills, you can send or receive currencies in the Lender cold wallet.
Bottom line
The ledger hardware wallets allow you to store digital currencies in a safe manner. It supported plenty of Cryptocurrencies so the wallet lets the trader buy a variety of Cryptocurrencies effortlessly. Moreover, a cold wallet is simple to use by any user whether a newbie or experienced trader.