Hey Guys, just writing up some reviews about Ledger Nano S which I had bought back in 2017. After extreme reviews with fellow members back in time I decided to purchase it since managing software wallets was full of surprises (hacks, phishing, easy to spend etc.).
Even though I am still using Mycelium Wallet, but had experience all of certain when the wallet was not opening due to some system update requirements.
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You will love my experience because I already had lost my Nano Ledger S during shifting of our house. I literally got it back two years of time span.
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This is my Ledger Nano S which I lost. Thankfully owner returned it as he had no idea what the heck is that. Even if he had, he would have never been able to access it due to its password protection.
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Bought on Amazon. Graciously Ledger Nano S and other models are easily available in India. I bought mine on the Amazon [dot] in. There are plenty of retailers who are locals and importer of electronics who has it available in-store also. However, this won't be available in the big chains like Croma, Reliance Digital, Vijay Sales etc. for obvious crypto reasons.
What you get when you receive your box?The box contains properly fit Ledger Hardware Wallet, a chord, a manual, the keychain strap and most importantly you get a pre-printed card with 24 fields to write on. That's right, you might have guessed for what it is! Its for writing down your 24 words so that you can have this physical copy stored somewhere safe.
Mistakes: Usually everyone wants to be handy so they start clicking picture of every word or either they would screenshot it on the device. This is not at all advisable because even if the single picture is lost then you are done and wont be able to recover the wallet if you lost it.
Rightful Thing: When I lost my Ledger, I was still a lot relieved because I knew I have the 24 words stored safely. That's the benefit of it. You can store physical card, plus have its photo clicked and stored on device, drive etc where only you have the access to.
The Setup - They have made it user friendly
Hardware wallet is very easy to set. First of all if you will have to download and install "Ledger Live" from the official site. When I first stated with it, there was old version with separate wallets to be installed and use. For example, when I did the set up there was Ledger Bitcoin Wallet and separate Ledger Wallet manager.
With the latest update you get everything under one roof. Whether it is your bitcoin wallet, etherum wallet or any other supported altcoin you want to store on your hardware, that can be easily done.
1. Connecting Your Ledger Nano S ( Easy
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Once you successfully unpack the package and install then you will be asked to connect your Ledger with the USB provided.
You will start first connection process which will include:
a. Getting started tutorial
b. PIN code generation (This one is for your hardware wallet. You will be asked every-time you open it, change setting, install apps, verify identifier etc.
c. Recovery Phrase Generation (Every single word will be displayed on the hardware wallet screen. You better write down this on the the provided card with box.
d. Hide Recovery Phrase (This one for the Live view)
e. Connecting (A USB will be provided, after above process the wallet will start synching for the latest firmware update, app installs etc.
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The very first thing your Ledger Live do is "Genuine Product Check". This is to conform that you have right hardware with you and not the fake one.
As soon as you hit the Check my device button on the right hand down corner it will start processing and it really just take less than a minute really. After this you are good to go further.
Upon successful product check it will show window like the following. From here onwards you can start connection and proceed for the unlocking.
2. Opening your Ledger. ( Easy
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The most exciting part unless and until you have already set it up for the first time. If this is first time opening then you will have work on firmware upgrades, apps install and adding the accounts.
Refer to the right hand side image. This window will pop up as soon as you connect your Ledger Hardware with the USP and desktop/laptop. There are two small button on the ledger. These buttons will work individually or altogether as per various operations. For example, up and down, enter, delete etc. Usually your Ledger Live blinks the action on screen so its really easy to understand how to use it for the first time. Once you are used to it, you just go zoom!
This is where you will have insert your PIN CODE that you generated at the time of first connection.
For any troubles, you will have on screen support, usually boot loader pops up while fixing. If issue is unresolved then you check FAQ on site or get in touch with support team.
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3. Ledger Live Dashboard Window (Average:
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| As soon as you insert correct pin code and access the wallet data over Ledger Live you will be shown images shown in left hand side. Basically this is amazing update. If you would have seen the initial version then it was very simple, with ledger manager entirely different than wallet app. Here you can clearly see all the dozens of options to choose from.
Portfolio: This is where all the accounts history, balances are shown mostly preset with graphical presentation.
From Add Account shortcut you will be able to add new wallets. This means you will have to different wallets for bitcoin, eth, other available and supported altcoin to which they call it as Accounts.
This is the dashboard from where you will be able to update your firmware as well.
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4. Installing Firmware Update ( Easy
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For the first time, mostly you will have to go through the firmware update process. If you Ledger is pre-loaded with latest update then you wont be asked for the same. However, installing is as easy job as to follow the next, next button.
Make sure, your Ledger is properly connected with the USB, sometimes with loose connection or sudden disconncetion it could corrupt. However, there is option to resume the Boot-Loader so that you can auto-fix this.
Same option can be used if there is sudden breakdown of firmware upgrade. This is why I have rated them 5 star for this process. They have considered all the possibilities and mistakes that general user can do.
Moreover, it downloader will also ask you whether you have your recovery phrase or not. It will take the tick consent and then only proceed for the downloading.
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The whole process looks like this:
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Once you have given the consent that you have your recovery phrase then it will initially start downloading the identifier and firmware update. There will be manual verification of the Identifier before you can proceed further installation.
The identifier will be displayed on the Ledger Live window and at the same time it will start displaying on your Ledger Nano S screen too.
If your bootloader is not updated then it will also get updated in this step itself and then firmware starts updating.
5. Installing Wallet Apps ( Fair
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Account addition is easy but it is extra work. You wont be just finding all the currencies on your hardware. It still needs to be separated with the wallets inside hardware. You have to select desire currency and click on the apps available.
You might have noticed there are only three stars for this one. The problem is they have given very less space to install the other apps. Though majorly used apps that is Bitcoin and ETH will fit in suitably but to install others you have to priorities the whole thing.
Total Space On Ledger Nano S is 138 KB
Space taken by two apps 110 KB
Leftover: 28 KB
Thats minute space to fit in all the apps.
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What to do if your Ledger / Hardware wallet is broken or lost?
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Remember the 24 word card that they provided to you and you wrote all the keys? Well that will be you saviour in this case.
All you have to do is go to following tool and insert your keys and define a standard path for the same. The tool will generate addresses with private keys so that you can access your coins.
The Tools Name is: MEMONIC CODE CONVERTERBasically it works on different deviation path and your memonic codes. The derivation path could be BIP32, BIP39, BIP44, BIP84, and BIP141.
Since we are on Ledger topic, the software that is Ledger Live uses standard derivation path that is m/44'/60'/0'
Sometime you may not find your address on this path so you can try out these paths too:
m/44'/60'/1'
m/44'/60'/2'
m/44'/60'
Remember to run this privately since it will generate the address along with the private keys. Usually you can see your address on the first page itself, if not then you can simply keep retrieving more addresses until you find yours.
You can choose the derived path as per what you looking for (bitcoin or ether).
For now that is all. Will keep adding problems and solutions if any just for education purpose.
