Users are getting confused about the type of wallet that is best for keeping their assets safe. They could either opt for software wallets or hardware wallets. Both types of wallets are secured and good enough for the funds keeping. Let us suppose, you have opted to go with the hardware wallet. But how would you decide which hardware wallet is the best? Although, there are only two popular hardware wallets that are generally preferred by the public. And those are Ledger Wallet and the Trezor Wallet. And if you need a third-party opinion then you should go for the Ledger hardware wallet.
This content is for those who have decided to go with the Ledger and want to know about the account setup of its various devices. Continue reading the content further to know the details.
What are the features of the Ledger Wallet?
We have already established the fact that the Ledger hardware wallet increases account security. So, there is no doubt about the safety of the funds. But the iPhone users might not be able to use this device as it does not support any compatibility with iPhones and neither Bluetooth connectivity. Other than that this is a good wallet. Given below are the features of it:
The investor gets plenty of options to choose from as Ledger Nano X supports more than 5500 digital crypto assets that are not to be missed. And if we talk about Ledger Nano S, then it supports more than 1500 currencies which is still more than the available currencies on the other software wallets.
Out of both the ledger devices the Ledger Nano S is recommended if you are looking for a small and a cheaper wallet.
If you have the Ledger Nano X, then the below-mentioned steps are for the setup process. Do make sure that you perform these steps in the same sequence as they are mentioned:
Connect your Ledger Nano X with the USB to your computer device and then you will have to press the button that is right next to the USB port.
The button should be pressed till you see the logo of the Ledger Wallet.
Now you will have to press both the left and right buttons simultaneously, to set up both devices. But they are to be pressed when you see the option of ‘Set up as a new Device’.
In the next step, press both buttons when you see the ‘Choose PIN Code’ option. But do remember that the PIN should be 8 digits long. This will provide the best security.
Here, you will have to secure the secret recovery phrase of the wallet. The phrase would be showcased on your Ledger Wallet device word by word. Again press both the buttons to write the code.
To move further towards the next word of seed phrase you will have to press the right button.
This process is to be repeated till you reach the end of the seed phrase.
After this, you would be redirected to the account dashboard. The same steps are to be followed for the setup of Ledger Nano S.
This write-up was all about the process of the new account setup. For those who do not know where they can store their secret recovery phrase, your Ledger Wallet comes with a sheet with the proper numbering showcasing in which sequence the phrase is to be written. You can use that sheet for writing down your phrase and then storing it in a safe place. Do remember that it should only be you who has access to your Secret Recovery Phrase and no one else. And if at the time of set up, you get stuck on any of the steps then contact the support team for the guidance.