Ledger Nano X Full Beginner Guide (2021): Everything You Need To Know

hey what's going on guys adam here and welcome to the channel in this video i'm going to show you everything you need to know on how to set up your ledger nano x as well as how to use it to get the most value out of it that you can and as you can tell by the length this is a full comprehensive guide so feel free to use the time stamps down below to skip to the part that you need so let's jump right into it the ledger nano x is a hardware wallet which is one of the safest ways to store your cryptocurrency they keep your private keys safe on the device away from hackers and it is offline so no one can access it through the internet or anything like that so with that said pretty much the only way someone can steal your crypto is if they get their grubby hands on your seed phrase or the physical device itself the friendly reminder no matter what wallet you use to never ever tell your seed phrase to anyone under any circumstance because that is what allows them to steal your assets and also don't link your wallets on any website that you don't trust there are tons of fake websites out there so if you are going to do it make sure it is the one that you are looking for so some background on the company ledger was founded in 2014 and have since sold over three million devices and they've grown to be one of the most trusted brands for hardware wallets so the ledger nano x supports 1800 cryptocurrencies and counting like bitcoin and ethereum and you can use 100 different crypto at once on this thing they also integrate with software wallets like metamask for even more supported crypto and with this you can actually use decentralized applications or adapts or d apps however you want to say it while maintaining that high level of security on top of this ledger has a desktop and a mobile app for managing your wallets i will link it in the description it's also in the sheets whenever you open the box but just be very very careful where you download it from make sure that it is from the official ledger website which is ledger.com the ledger nano x even has bluetooth integration to both iphone and android so you can connect to your phone and take it on the go just for comparison they made a similar product to the x called the nano s which has three major differences so first both support the similar list of crypto but in some cases the s supports crypto that the x does not and vice versa so an example of this is the harmony 1 token which is only supported by the s and not the x so definitely check on their website on ledger's website which products support the crypto that you want to have so that's the first difference between the two the next big difference is that you can only store about three to six different krypto at once on the s compared to about 100 on the x so if you have a bunch of different crypto that you're using you probably want to stick with the x otherwise the s probably won't be able to handle it the last big difference is the s only works when plugged into your computer or to your android phone using the charger which looks a little something like this so you know it's a little clunky there's no bluetooth on this thing like there is on the x so it's not quite as mobile so if you're using a bunch of different cryptocurrencies at once or you want a wallet that you can use on the go or if you have an iphone you'll probably want the x so if you do want to stick with the x then you're in the right place if you're using the s no worries i will be posting a video on how to set this guy up later but you know honestly they're pretty similar with the setup the only difference is just honestly how the buttons look so you know you can follow the exact same steps that i show you in for this and it'll work for this all right so first off let's see what's in the box so i'm gonna go ahead and bring my camera over here so here's what the box looks like when you first get it there's gonna be some plastic wrap over it but you know you just take that off then what you do is you slide it out of this sleeve that's here so there you go set aside then you got this guy right here so then you just you take off the top part of it leave the bottom part and you flip this over yeah there you go there's your download link only go to ledger.com do not go anywhere else or download it from anywhere else now if we go over here this is the actual nanox itself so there's your ledger symbol and it says uh first and numerous on the back i think that's like strength in numbers or something i could be wrong so next up let's take this out so next up you just have some more documents so basically what you got in here is a user guide you have your uh recovery phrase cards that you can write them down on uh you got some stickers and then you got some more legal stuff grab one of these and set these aside because we'll use these in a sec and finally you have the charger so this is not necessary as i mentioned uh because this does have battery and bluetooth so you can take it on the go with you but you know you will need this to charge and also to sync it up to your laptop and finally if we take this off you have your little keychain so that you can put it on your wallet or your actual keys or something like that so that is what's in the box all right so let's go ahead and set this up as a brand new device so obviously you want to open the box up and then charge it for a little bit that way it has a little bit of battery all right so step one grab your ledger nano first get it alex patrick that's a pickle yes all right so here is the ledger nano x so we're gonna go ahead and unsheath this if it's not on you can hit the black button so it just gives you a little welcome page so it says welcome to the ledger nano x press the right button tells you where to download the app from again make sure that it is from ledger.com and nowhere else uh then you just use these buttons this is usually like four or this is back or you know right left um and then you press both buttons to select and then at any time on the home screen you can just hold these down for like two seconds and that will bring up the basically like settings page you can start the ledger live app you won't need it because i'm gonna walk you through everything um and then if we hit write one more we're going to set this up as a new device so go ahead and double click here then you just choose a pin with four to eight digits double click again and we're going to go ahead and enter a pin so you can cycle through numbers like this you can see that uh the right one goes up and the left one goes down all right so i just entered my first digit and just a heads up if you do make a mistake in this and you want to delete a digit there actually is a character for that once you've entered in your first one you'll see a backspace here so you can go ahead and delete that so let's go ahead and enter one for real and once you've entered it in the first time now you're going to want to confirm it so let's go ahead and do that all right so now it's going to tell you to write down your recovery phrase so this is where you want to grab one of these cards that i showed you earlier you don't have to use this but you know you can use any any piece of paper or any anything that you can keep track of so let's go ahead and double click all right so your device will generate 24 words uh and these are your recovery phrases so this is your seed phrase that everyone tells you uh not to share with other people and again if you lose this if anyone else knows this besides you go get a new one generate a new one all right so let's hit right again it's your only backup make sure that you hang on to this make sure that you always have access to it write it down on the sheet and press both buttons to continue all right so then you'll see a word here so like this word is gate so then you want to what you want to do is you'll just take a pen and you'll write gate for the first word right here then you will hit the right arrow go to the second one and then the second one is picnic so go picnic and that will be your second word so you're gonna do that 24 times i know it's a little tedious but you know this is this is how the world of crypto works so make sure that it is safe from other people seeing it and then make sure that it is physically safe from damage as well all right so let's go ahead and fast forward to the end of that we'll pretend like i have written all of these down all right so now that we've hit the end of this uh it says press left to verify your 24 words just go back over one more time just to make sure and then once you've done that go ahead and hit both buttons so now we are going to confirm the recovery phrase so again double click we're going to cycle through all of the different words that were shown to us so if we just you know click a couple times okay there we go there's gate that was our first word so then you hit that and then you just double click so now we're onto the second word so then you just repeat that 24 times for all of your uh recovery phrase and then you will be in the app so i will go ahead and see you on the other side all right so now let's go ahead and go over if this is not your first time setting this up and you want to recover from one of your seed phrases so just a heads up this process kind of sucks it's really long and tedious so you only want to do this if you absolutely have to like if you're doing this a million times to catch your every step for a youtube video but you guys are totally worth it you really don't want to mess this up at any point since you'll have to do it all over again so i highly recommend you just set 10 to 20 minutes aside just to pay attention and knock it out you should probably do that for anything you do with this ledger but especially this part so now in the ledger nano we're going to go through the same process that we did for setup uh and of course if you've already done this and you have a seed phrase you can just do it here so let's do restore from recovery phrase now we're going to go ahead and set the pin again so i will see on the other side of that now we are going to enter the recovery phrase so go ahead and double click it's going to say select the number of words written on your recovery sheet if you set up the ledger nano uh it's going to be 24 now you can use other wallets that you have previously set up like you know if you have like coinbase wallet or metamask you can use those if you use those recovery phrases that kind of defeats the purpose of getting a hardware wallet so i recommend just using the seed phrases that you only get from your ledger nanos if you did do it that way you're going to use 24 words all right so now this is the tedious part it's going to ask you to enter in those words one by one and you can only type in one letter at a time so it will usually ask you to do the first three letters for each word so uh go ahead and do that for everything that you wrote on here on your seed phrase wherever you have that and i'll show you how to do it real quick alright so let's go ahead and start typing in the words so let's let's sure let's just start with k uh e and then you'll see you typed in two letters and it comes up with all the different words that you can possibly have uh so let's just do key so that's your first word so now you're going to do that for your second word so okay yeah sure let's do s a and sand okay yeah so there you go sand that's it uh so then yeah you can hit sand um so then third word okay let's go sure let's get h a b alright so you got habit that's it so you're gonna do this for each of your 24 words and you could probably see at this point why it's so tedious if you appreciate me doing it a bunch of times to get the process down then hit that subscribe button and you know like buttons down there too so you might as well hit it while you're down there so after you've done this you're back into your ledger and you can reconnect to it and i'll show you how to connect to it in your desktop app as well as your mobile app and then also into metamask all right so let's go ahead and set this up on ledger live desktop now make sure you got this from the ledger website again uh there will be links down below and also on the card that you got with your nano x and also i highly recommend doing this before you set it up on your mobile app just trust me it's going to be a lot easier it's going to be less things to do all right so let's head over to the desktop app so go ahead and let's hit get started and agree to the terms and services and enter the ledger app so we're going to be setting up the nano x so if this is your first time using the nano x you can click on that otherwise you can click on just connect to your nano x these all lead to the same place so it doesn't really matter which one you click but if it's your first time i recommend just clicking set up a new nano x so this just walks you through how the nano x works just tells you a little bit about what the capabilities are so you can click through these uh when you go do it yourself but i'm just going to skip through this so let's go ahead and just click let's do this so if you've been following the video you've already done this so you can just skip through it but i do recommend just reading through these just to make sure that you're doing everything right so just keep track of your pin pin code do not tell that to anyone keep track of your recovery phrase do not tell that to anyone but always make sure that you have it again do not share this with anyone so then they're going to give you a short quiz so let's go ahead and take the quiz all right so as a ledger user my crypto is stored on my nano or on the blockchain so the answer here is on the blockchain right nothing is ever stored on the device itself besides your public and private keys which are literally just a random string of numbers and letters all right so next question if my recovery phrase is no longer secure or private and again you probably know the answer to this already because i've kind of drilled it into your heads your crypto is no longer safe and you need to transfer them to a secure place so if someone else has your recovery phrase consider this compromise and move it somewhere else there you go anyone who has your recovery phrase can steal your assets we already know that at this point all right so next question when i connect my nano to the ledger app my private key is still offline or briefly connected to the internet so in this case it's still offline that is the entire point of a hardware wallet is that your private keys never leave this device they always stay here and that no one from the internet can access it they can only access this through the physical device itself all right so we passed the quiz so let's go ahead and finish this says we're already pro good stuff and we're ready to use it so go ahead and click next step and it's going to now verify whether your nano is genuine if it's not genuine that means someone's tampering with it uh maybe it's sending the seed phrase to someone or this you know private keys so this is just gonna check and make sure that it has not been tampered with so let's go check my nano uh now it's asking us to connect and unlock the device so let's go ahead and do that uh so it is connected to my laptop here through the cable and i'm just gonna enter in my pin real quick and give it a sec all right here we go allow ledger manager on your device so we're just gonna hit both the buttons here enabling that good so i can pick that up all right all good your nano x is genuine and we're ready to use ledger live so let's go ahead and click continue alright so now we are in ledger live so the first thing that you should do before you add anything is make sure that your firmware is up to date so if we go into manager if this is your first time doing this you will probably see this update firmware so go ahead and click update firmware it's going to download it yeah obviously make sure that you have your recovery phrase and then go ahead and click that and then click continue so it's going to download the update and put it onto your ledger i'm just going on the device i'm hitting the silver button twice going over to the identifier string make sure that is the same as what's displayed on the screen right now hit the silver button a couple more times until you hit perform update and then go ahead and hit both buttons all right now it is updating in boot loader mode so we'll just wait for that to finish okay so now that that is done let's go ahead and enter the pin in again all right and now we are back in so what this firmware does is it wipes your entire device not of the seed phrases or anything like that or any of the private keys that you need it just gets rid of all the apps and resets it basically so this is why you want to do it first so that you don't install all of your apps and then immediately erase it right all right so now let's go and reinstall some apps on the device and then you can go in here and select you know bitcoin ethereum binance smart chain you know whatever apps that you want to be using with the different cryptocurrencies that you have uh go ahead and download these now so these will put them on your device so as you can see it's downloading and installing them for me right now all right so now everything that i want is installed onto the ledger nano so let's go ahead and set this up with the live mobile app all right so now that we have all of the apps that we want on here let's go ahead and add some accounts so you'll see here under bitcoin you can just hit add account and it will sync with your device so then you now you need to open up the app on the device and it auto opens it so just click both buttons at the same time and there we go so now we have a new account we're going to just call it bitcoin one you can come in here and change it to like bitcoin main or something you can name it whatever you want go and click add account and you'll see that it is added to the ledger app now then you just hit done so now if you go over to accounts there you go there is your bitcoin wallet now in order to see it you can come in here and if you want to see your address you just hit receive uh then you know you continue hit hit the device go through the application and there is my address so then what you can do is confirm it on here you'll see it on the nano screen as well then you just hit the silver button on the nano and then hit approve and then that will basically guarantee that you have the right address when you copy paste it alright so let's go ahead and hit done so you can repeat this as many times as you want for all of the other cryptocurrencies that you added and you know if you want to remove this you can actually go ahead and hit i think it's edit and then delete so deleting accounts will not affect your crypto assets and existing accounts can always be added again so when you delete an account from the app it does not remove it from the device itself it just removes it from view of the app you will always have access to that account as long as you have access to this device right so you can delete this and i'll show you right here so confirm and then you can just add that account back so you just do bitcoin continue we're gonna call it bitcoin one and then if you hit add account you'll see it's successfully done so let's go back into that account and look at the address again so receive and continue and there you go i'll put a side by side up but that address is the exact same as the other address from before i remove the app so you'll always have access no matter what you do if you remove the accounts on the actual apps so now let's talk about setting up the ledger live app on your smartphone so if this is not your first time pairing it to your phone you'll need to go into your phone's bluetooth settings and once you're in here you'll see the nano and then just go ahead and forget this device all right now if we head back into the ledger live if you want a fresh install you might also need to delete and re-download the mobile app just make sure that it is the official one if this is your first time doing it you're good don't worry about any of that stuff all right so let's hit get started we already read the terms and services privacy policy enter ledger app select the device so we're going to do nano x and let's go ahead and click sync crypto from your desktop app this is going to save you a ton of time so hit that it's going to tell you basically what to do and you now you want to say i'm ready to scan you can do the setup from your phone but i had a lot of trouble with it so i recommend doing it on your desktop and then using the sync feature so then let's go into the computer go into the settings and do accounts and then just hit export accounts here so this will show you a qr code that you can then scan with your phone which will automatically sync all of those accounts that you added onto your phone so you don't have to go in and add them manually so i'll go ahead and do that now and just scan it if you see here on the phone you'll see that that bitcoin one account was added so let's go ahead and import and it says all set open ledger live cool so here we are let's go ahead and into accounts and boom there we go now if you update any accounts on the desktop app you're gonna have to do this same process to get it back onto your phone so for example if i add an ethereum account so i'm gonna go ahead and add one right now all right let me hit add account and done okay so now you see that we have ethereum in here and if we try and do the swipe update on the phone you'll see that it doesn't automatically add the ethereum onto your phone that is because there is no central account so there's no syncing between these devices aside from doing that qr code thing so if we just did that again you'd see it pop up on here so now we have all of the accounts on to the phone so let's go ahead and try and manage the device itself so if we hit nano x start nano x setup then we just want to connect to the nano let's pair my nano add new ledger nano so it's going to look for devices if it doesn't pick it up you might just need to reboot the nano x so it's not picking it up for me so i'm actually just going to go ahead and do that so to do that you just hold both buttons at once that'll take you into the uh the manager press the black button twice and hit power off and then hit both buttons again to confirm then you enter your pin and now it's going to reboot alright so now that it has rebooted i unlocked it with the pin let's go ahead and try that again there we go okay so the nano pops up so go ahead and click on that it's going to show you a code go ahead and hit pair on the phone and then just make sure that the code matches uh what is on the nano so that matches and then we just go ahead and confirm pairing here and give it a sec on the phone it's going to do the authentication check to make sure that it is legit uh go ahead and allow the man the ledger manager so just hit the both buttons twice and there we go pairing is successful and you can see that the device is genuine so let's click continue uh now we can open the ledger live app all right so now let's talk about how to actually use this with metamask to unlock even more potential from your ledger nano x just make sure that you have this unlocked you probably already have it if you've been following along do that and then also on your desktop app go ahead and add an ethereum account you'll see that i have added it here so let's go ahead and open a new chrome window and again make sure that your meta mask that you get this directly from metamask itself make sure it's the official app and not a you know tampered or scam version of it all right so let's go ahead and open this up uh in the app itself let's go ahead and open that it's a little bit easier to do things so just go to expand view this will take you to the actual metamask tab so you'll see here here's my main account and i'll go in and you'll see my ledger and you'll see the hardware here you see my ledger one and my ledger two for my ethereum address so i'm gonna go ahead and delete these and i'll show you how to re-add them and i'll show you that again just because you delete your accounts it doesn't actually mean you're deleting everything that you're holding in there so you can remove and add these as you will alright so first things first we're going to need to set this up real quick there is a setting that you should turn on that just makes it a very seamless integration so let's go ahead and hit settings let's go to advanced go scroll all the way down to the bottom and it says use ledger live so you want to make sure that this is on if it's already on uh just toggle it off and then toggle it back on again just to make sure that it picks this up so once we've done that we're good to go so now we want to scroll back up to the top and you want to hit this profile picture looking thing right here and then you want to hit connect hardware wallet so this will come up with this screen obviously we're doing ledger uh this says download the ledger live app obviously we've already done that and plug it in obviously i've already done that too so let's hit continue so this will open a link that takes you back to your ledger live desktop app um so go ahead and hit open right here and then it will access your ledger device from here so go ahead if it let if it's locked enter your pin then it's going to ask you to open the ethereum app so go ahead and double click so now it's going to open a bridge all right so now it says ethereum bridge is open so now go back into the browser so here you can see the one account that i already added and here is the other account that i already added you can see i already have ethereum on here so again if you remove accounts from this you can always add the mac they do not disappear forever so then you just select the addresses that you want you can add as many as you want and these are basically pre-programmed into your ledger device so i'm just gonna go ahead and add two so let's go ahead and click this and then click unlock and there you go you will see if you click this to view your accounts you will see that the ledgers are now in here with the hardware wallets so as far as what you can do with your metamask once you have your ledger connected to it is you can use the ledger to sign your transactions so basically you can have it so that in order to do any transaction on metamask you have to have this as well so this basically adds this security of a you know hardware wallet or cold wallet to your hot wallet or software wallet like metamask so let's go ahead and send some funds over i'm about to burn like 20 bucks on gas fees but you all are worth it all right so let's go ahead and send transfer between my accounts so this this account right here that i'm sending from is not backed by this ledger so you'll see what happens here let's just hit ledger one and send let's send like 40 bucks of ethereum so you hit next gas fees 13 bucks and so my total is going to be about 50 bucks so let's go ahead and hit confirm all right and now you'll see that it is pending so give it a sec we'll let it go through all right and there we go transaction has completed and you'll see that it took out that uh you know like 50-ish dollars worth of ethereum and if we open the accounts again if we go into ledger you'll see that i now have 44 dollars worth of ethereum so if we go over here now let's send it back so this is this is the cool part this is what it's going to look like whether you're interacting with something like uniswap or if you're just transferring money back and forth so let's hit send so let's do transfer between my accounts and let's send this back to the main account and again let's do like i don't know 20 worth of ethereum then we'll hit next and then you'll see uh this little warning down here so it says prior to clicking confirm enable the use uh of ledger live which we've already done open and unlock the ledger app which we've already done and then plug in your ledger device and select the ethereum app so we have done that let's go ahead and hit confirm so now that you see that it's spinning here so let's go ahead and check out on the ledger nano so you see review transaction here so go ahead and hit the silver button you'll see the amount that looks right you'll see the address make sure that is right as well there's your fees and then what you can do is hit send and accept or you can reject it uh so we're going to send an accept here and then as soon as i hit this you will see what happens on the metamask wallet so now we have a pending transaction and if we give it a sec okay there we go you'll see that my transaction went through again i was you know took out the you know 30-ish dollars that it was to send it and if we go back to the main account you'll see that i have received it there so really powerful stuff here this can be used to secure your hot wallets which is a very important functionality in my opinion i think this is like one of the best use cases for the ledger nano so that's it this is everything that you need to know about the ledger nano x hopefully this helps you get the most value you can out of it i hope you have an awesome rest of your day and i'll catch you in the next one take it easy

Channel: Adam Venture

Views: 136,559

Keywords: adam venture, ledger nano x, ledger nano s, leger nano x, leger nano s, ledger, leger

Id: 44tqG5zacag

Length: 28min 2sec (1682 seconds)

Published: Wed Nov 03 2021