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Title: Ledger Nano with Electrum Post by: Anthony1985 on September 04, 2016, 08:33:00 PM Hello,
I just got a ledger nano and would like to know how it works with Electrum. As I understand I would need to set it up first on chrome and then on Electrum. Will I be able to use the same wallet on Chrome and Electrum,or is that something impossible? Also can I use more Ledger nano with the same wallet? Let's say I want to make a payment and don't have my pc with Chrome or Electrum,could I get the same wallet on another pc using chrome to make the payment? Title: Re: Ledger Nano with Electrum Post by: NorrisK on September 05, 2016, 06:44:04 AM You can use the same wallet on both the extension as in electrum. The reason for this is that it simply uses your private key and any application with access to the private key can use that specific set of addresses (the same way a hacker could steal your coins, it can be uses in multiple applications).
I'm not familiar with the ledger nano specifcally, but you should be able to "restore" a second ledger nano with the info you got from the first and it should show the exact same info. The nice thing about hardware wallets is that you can simply connect it to a pc and safely sign the transaction from there. You can bring the wallet to your friends pc who has chrome and make a payment for instance. Title: Re: Ledger Nano with Electrum Post by: Anthony1985 on September 05, 2016, 09:51:46 AM Thanks a lot,this makes a few things clear for me.
I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it Title: Re: Ledger Nano with Electrum Post by: Coin-Keeper on September 05, 2016, 06:04:19 PM Thanks a lot,this makes a few things clear for me. I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it Like the other member posting along with you I have no direct experience with a Ledger. I do with a Trezor, which of course is another hardware wallet. Using this model you can easily work with a "phone" and a Trezor using MyCellium. Very fast and safe as can be. Then you can still use the Trezor with Electrum on your home computer. Versatile and safe as can be. It would surprise me some if Ledger did not have the same option. In both applications the private key is never revealed to a computer or phone, not ever. Title: Re: Ledger Nano with Electrum Post by: japerry on September 06, 2016, 08:51:48 AM Thanks a lot,this makes a few things clear for me. I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it Like the other member posting along with you I have no direct experience with a Ledger. I do with a Trezor, which of course is another hardware wallet. Using this model you can easily work with a "phone" and a Trezor using MyCellium. Very fast and safe as can be. Then you can still use the Trezor with Electrum on your home computer. Versatile and safe as can be. It would surprise me some if Ledger did not have the same option. In both applications the private key is never revealed to a computer or phone, not ever. That functionality exists! I use Electrum with my Nano on my PC and also use Mycelium with my Nano on my Android device. It works quite well! Title: Re: Ledger Nano with Electrum Post by: Coin-Keeper on September 06, 2016, 07:10:47 PM Thanks a lot,this makes a few things clear for me. I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it Like the other member posting along with you I have no direct experience with a Ledger. I do with a Trezor, which of course is another hardware wallet. Using this model you can easily work with a "phone" and a Trezor using MyCellium. Very fast and safe as can be. Then you can still use the Trezor with Electrum on your home computer. Versatile and safe as can be. It would surprise me some if Ledger did not have the same option. In both applications the private key is never revealed to a computer or phone, not ever. That functionality exists! I use Electrum with my Nano on my PC and also use Mycelium with my Nano on my Android device. It works quite well! I figured that it did! Didn't think the Trezor alone would have been the only useful tool. Thanks for adding to the thread so we can all know that both hardware wallet tools do the job! Title: Re: Ledger Nano with Electrum Post by: Anthony1985 on September 06, 2016, 08:08:24 PM Thanks a lot,this makes a few things clear for me. I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it Like the other member posting along with you I have no direct experience with a Ledger. I do with a Trezor, which of course is another hardware wallet. Using this model you can easily work with a "phone" and a Trezor using MyCellium. Very fast and safe as can be. Then you can still use the Trezor with Electrum on your home computer. Versatile and safe as can be. It would surprise me some if Ledger did not have the same option. In both applications the private key is never revealed to a computer or phone, not ever. That functionality exists! I use Electrum with my Nano on my PC and also use Mycelium with my Nano on my Android device. It works quite well! Right I saw some videos working on Android but nothing on ios,wonder to know if it would work with the new Ledger Nano S. Title: Re: Ledger Nano with Electrum Post by: NorrisK on September 07, 2016, 06:47:46 AM Thanks a lot,this makes a few things clear for me. I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it Like the other member posting along with you I have no direct experience with a Ledger. I do with a Trezor, which of course is another hardware wallet. Using this model you can easily work with a "phone" and a Trezor using MyCellium. Very fast and safe as can be. Then you can still use the Trezor with Electrum on your home computer. Versatile and safe as can be. It would surprise me some if Ledger did not have the same option. In both applications the private key is never revealed to a computer or phone, not ever. That functionality exists! I use Electrum with my Nano on my PC and also use Mycelium with my Nano on my Android device. It works quite well! Right I saw some videos working on Android but nothing on ios,wonder to know if it would work with the new Ledger Nano S. If I'm not wrong, you have to wait for an electrum update to include Ledger Nano S support before that becomes available unfortunately. In the mean time, you can just use their web service. Title: Re: Ledger Nano with Electrum Post by: Ledger VZ on September 26, 2016, 10:14:52 PM Thanks a lot,this makes a few things clear for me. I wish I could use the same wallet on the phone and use somehow the benefits of the ledger to protect it You can have a look and check compatible models for the Ledger Trustlet App on Android : https://play.google.com/store/apps/details?id=com.ledger.wallet.bootstrap Title: Re: Ledger Nano with Electrum Post by: Phelicks on December 19, 2016, 08:22:13 PM How many bitcoin Electrum wallets does Lrdger Nano S support simultaneously?
Title: Re: Ledger Nano with Electrum Post by: Coin-Keeper on December 20, 2016, 12:15:12 AM How many bitcoin Electrum wallets does Lrdger Nano S support simultaneously? It depends what is your interpretation of "wallets". By design, there is only one seed per Ledger. But, the same Ledger seed may create multiple "accounts" and you can keep track of each one of them using Electrum. Each account will have its own Electrum wallet file and name (most recent Electrum version) - but they all share the same seed. Like Trezor, the same Ledger seed can also create simultaneous alt-coin wallets in the device, for supported coins, like Litecoin & Dash, and can be accessed using Electrum clones, like Electrum-LTC or Electrum-DASH - or Encompass, which is a multi-currencies Electrum clone. As you can see, one seed, multiple accounts, multiple coins, all in one hardware device - thanks to BIP32 and 44. The draw back - you loose your seed (or it gets stolen) - you may loose all your coins and all your accounts at the same time (if the thief is aware that you have "extended" your seed in such a way - of course). Where that differs with the Trezor, in my applications anyway, is that the Trezor wallet utilizes passphrases for each of my wallets. This would make SEED compromise only one piece of the puzzle for the thief. Unless the thief also had each password he/she would not be able to access any coins "related" to that SEED and password combination. The downside to using my Trezor in this matter is that I too MUST have all passwords or I lose my coins. |