Which hardware wallet to buy?

[JamesDaniel90]

Is there anything I can do until it arrives or do I just wait?

You could download and install Ledger Live, so it is read to go once your hardware wallet arrives: https://www.ledger.com/ledger-live

My cryptos are the following, have read each one will require different appa? If anyone can give me an idea which apps I will need for each one?

If it is a token, then you'll need the app of the coin it is based on (so ERC20 tokens will use the Ethereum app). Coins like Bitcoin will have their own app.

You can type each one in here, and then click on "More details": https://www.ledger.com/supported-crypto-assets

ThanksI will have a look, this is all new to me but will take it one step at a time.

[Cricktor]

...
And yes I will do a small test transaction first to make sure I have done everything correctly.

Nano S Plus ordered 

Is there anything I can do until it arrives or do I just wait?

I suggest to do even more extensive testing with free Testnet3 Bitcoins (tBTC), e.g. from https://testnet.coinfaucet.eu! You'd have to enable Testnet in Ledger Live, but then you could play around as much as you like and it won't cost you anything but time and some learning.
With free tBTC only in your Ledger wallet you could also verify a desaster recovery procedure. I assume very few people actually try it out because they fear to screw something up with their real coins and tokens. With tBTC you don't need to be afraid. (I'm not saying that you should deliberately destroy Testnet coins.)

That's what I have done when I used my first hardware wallet (no, it's not a Ledger, as I don't want to use a Ledger device for various reasons).

When you're done with playing with tBTC (and no other coins or token of value in your Ledger wallet), just reset the device (nice to have tested this, too) and let it create a new seed with new mnemonic seed words. Write those mnemonic seed words carefully down on paper with date of creation and purpose and maybe also derivation path (if you're familiar with that) and you're good to go. Do not store your mnemonic seed words unencrypted in digital form on an online computer! Very bad idea!!

[SFR10]

Yes I can imagine there being a few scammers out there, I will be really careful.

It's worth noting that Ledger has also prepared a "bunch of playlists" on their Youtube channel:

e.g.

• Ledger Live
• Ledger Tutorials

Is there anything I can do until it arrives or do I just wait?

You might want to visit their "360 library ^{[it has various filters to narrow down the results]}".

[JamesDaniel90]

Nano it’s the best

I only want to use the ledger when at home I dont need the bluetooth which i have heard isnt the best so doesnt make sense for me to pay double the price for the nano x.

[sir_danny]

Best is subjective.

Every single individual will have an opinion on what is "the best".

But it's time to approach this from a more technical perspective.



WalletScrutiny approaches this problem through this methodology:

To put it dramatically, we search for the obvious potential to empty all the wallets of all the users at once. Could the provider of the wallet, with enough criminal energy, defraud all its users at once, without this being possible to be detected before it is too late? (If he could in theory, then a sufficiently motivated criminal could also put him under duress to steal your funds or manipulate him into stealing your coins with social engineering or with a backdoor.)

This horror scenario is possible whenever the provider can obtain a copy of the wallet backup and thus access all the users’ funds at once. He could collect the backups and once the amount of coins he could access stops growing, empty all the wallets in one big transaction. This form of scam got known as “retirement attack”.

Seeing that some wallets have millions of users, it is plausible to assume that some wallets manage billions of dollars. This would be a huge incentive for criminally inclined employees, even if the wallet was not set up to scam its users from the start, which probably is the case for some wallets, too.

[Lucius]

~snip~

I understand the need to promote your project/website, but if you're already doing that, then at least make your post suitable for everyone to read by posting images in the appropriate size - people with limited/slow internet and small screens also use this forum.


As for the retirement attack, it's not something that's impossible - but that's why we don't keep all our eggs in one basket, regardless of its quality. In other words, it's stupid to trust only one wallet, whether it's a desktop or hardware wallet, you should always expect the unexpected and think about how to stay one step ahead of danger.

[Pmalek]

My cryptos are the following, have read each one will require different appa? If anyone can give me an idea which apps I will need for each one?
Bitcoin
Quant
Algorand
Polygon
Cronos
Decentraland
Enjin
Shiba Inu

All those coins are natively supported by Ledger. That means you won't need any third-party wallets that have to be connected to your Ledger device. When you get your Nano S Plus and you set it up, just start typing the name of the assets in the Device Manager and install the appropriate crypto apps. After that, it's just a matter of creating an account, generating and checking if you have the correct address, and transferring your coins from Coinbase to your Ledger.

The only difference is Shiba Inu, which is an ERC-20 token that should be kept in an Ethereum account. Unless SHIB has migrated to a mainnet and become a coin in the meantime.

[JamesDaniel90]

Hi all,

My nano s plus arrived yesterday so will be setting it up after work later today.

This may be an obvious question but again I am new to all this so want to make sure I do everything correctly..

Do i need to download a different app for each crypto I hold?

[o_e_l_e_o]

Do i need to download a different app for each crypto I hold?

Each coin will need its own app (or app of the parent blockchain in the case of tokens) to be installed on the Nano itself. In terms of the software on your computer, then the vast majority of coins will be compatible with Ledger Live. There are a few exceptions (such as Monero) which are not compatible with Ledger Live and you will instead have to download a difference piece of software, and there are also alternatives for many coins (such as Electrum for Bitcoin) if you want to access more advanced features which are not present in Ledger Live.

If you type each coin in to this website, it will tell you which software you can use on your computer under the heading "Supported wallets".

When you connect up your Nano and sync it with Ledger Live, Leger Live will take care of installing all the necessary apps on the device itself. You'll just need to pick and choose which coins you want.

[JamesDaniel90]

Hi,

So am just setting up my nano S plus and currently adding accounts.

For example I have 12 Quant, and when trying to add account it says ‘Quant is an ERC20 token. You can receive tokens directly on an Ethererum account.’

I then click ‘receive’ but then it comes up with the following ..

‘Please only send ETH or Ethererum tokens to Ethereum accounts. Sending other crypto assets may result in the permanent loss of funds.’


So I am not sure , at first it sounds like I can send Quant to Ethereum account but then the second statement makes it sound like only ETH can be sent to ethereum account.

Is Quant classed as an Ethereum token? If so, should be fine sending to Ethereum account?


Being new to this I just want to make sure I do things right and these 12 Quant I have will be worth thousands in the future so don’t want to mess anything up!

[SFR10]

‘Please only send ETH or Ethererum tokens to Ethereum accounts. Sending other crypto assets may result in the permanent loss of funds.’

So I am not sure , at first it sounds like I can send Quant to Ethereum account but then the second statement makes it sound like only ETH can be sent to ethereum account.

When you search for Quant on "this page" and hover over the "More details" text, the link at the bottom left corner shows "erc20"!
^{- The following link might come in handy: MANAGE ERC20 TOKENS}

Is Quant classed as an Ethereum token?

Here you go!

and these 12 Quant I have will be worth thousands in the future

I wouldn't be so sure about that!

[o_e_l_e_o]

Is Quant classed as an Ethereum token? If so, should be fine sending to Ethereum account?

Yes and yes. "ERC20" tokens are Ethereum tokens. It stands for Ethereum Request for Comment 20, named after the type of proposal it was along with the Ethereum Improvement Proposal (EIP) number is was assigned, 20. If you are interested, you can see the original document which created the ERC20 standard on the Ethereum Github here: https://github.com/ethereum/EIPs/blob/master/EIPS/eip-20.md

If you are unsure, then send across some small fraction of one Quant (whatever is possible when considering any withdrawal fees), make sure it arrives and shows up correctly on Ledger Live, and then send across the rest.

[JamesDaniel90]

I have just sent my first crypto over to my ledger from Coinbase which was Algorand.

The fee was only 0.002 Algo which is nothing so pleasantly surprised by that! It took less than 30 seconds for the crypto to show on ledger live so am impressed with that.

Is it only tokens involved with Ethereum that come with high fees?

[JamesDaniel90]

Is Quant classed as an Ethereum token? If so, should be fine sending to Ethereum account?

Yes and yes. "ERC20" tokens are Ethereum tokens. It stands for Ethereum Request for Comment 20.

If you are unsure, then send across some small fraction of one Quant (whatever is possible when considering any withdrawal fees), make sure it arrives and shows up correctly on Ledger Live, and then send across the rest.

So when sending over a small amount when I am unsure , if it shows in ledger live then all is ok?

If it doesn’t work or is not valid then it just wouldnt show?

[o_e_l_e_o]

Is it only tokens involved with Ethereum that come with high fees?

It depends. In your case, since you are withdrawing coins from a centralized exchange, then the fee will be whatever the exchange charges as opposed to whatever the appropriate fee for the network is at the time. Each exchange should have a page somewhere on their site which details their withdrawal fees.

So when sending over a small amount when I am unsure , if it shows in ledger live then all is ok?

If it doesn’t work or is not valid then it just wouldnt show?

Yes and yes. If you try to send to a completely invalid address, then your transaction won't go through. If you send to a valid address but on the wrong chain (for example sending an Ethereum token to some other chain or vice versa), then the transaction could go through but it will not show up on Ledger Live and it would be unlikely that you would be able to recover your coins. If the Quant shows up in your Ethereum account on Ledger Live, then it has worked.

[JamesDaniel90]

I have so far transferred my Polygon, Algorand & Quant over however have just test my LCX but it has been ‘pending’ on Coinbase for nearly half an hour now.

First time this has happened with the others going through straight away, do some others take longer then others or is there a problem? I have double checked the address and it is correct so not sure what is causing this delay.

[JamesDaniel90]

I have so far transferred my Polygon, Algorand & Quant over however have just test my LCX but it has been ‘pending’ on Coinbase for nearly half an hour now.

First time this has happened with the others going through straight away, do some others take longer then others or is there a problem? I have double checked the address and it is correct so not sure what is causing this delay.

Ignore this is has all gone through, only 1% fee too which is not bad at all 


Another question, I have 8,000 CRO I want to transfer over to my ledger but when searching the account on ledger live it says ‘Crypto.org’  - is this the right one? I can’t see any others.

[o_e_l_e_o]

but it has been ‘pending’ on Coinbase for nearly half an hour now.

This is to do with Coinbase, and has nothing to do with you. Their system will either be working through a backlog, performing some additional security checks before processing your withdrawal, or maybe waiting for a number of other users to request a withdrawal as well so it can batch them all together to save on fees. If this happens you usually just have to be patient and it will resolve. Occasionally the exchange will send you an email saying something is wrong and telling you what to do next.

is this the right one? I can’t see any others.

I'm have no idea because I've never used this coin, but a quick search online did find this: https://medium.com/cronos-chain/cro-is-now-cronos-bf103c257bd

[JamesDaniel90]

but it has been ‘pending’ on Coinbase for nearly half an hour now.

This is to do with Coinbase, and has nothing to do with you. Their system will either be working through a backlog, performing some additional security checks before processing your withdrawal, or maybe waiting for a number of other users to request a withdrawal as well so it can batch them all together to save on fees. If this happens you usually just have to be patient and it will resolve. Occasionally the exchange will send you an email saying something is wrong and telling you what to do next.

is this the right one? I can’t see any others.

I'm have no idea because I've never used this coin, but a quick search online did find this: https://medium.com/cronos-chain/cro-is-now-cronos-bf103c257bd

Thanks - I will send over a small amount of CRO later to test it but it sounds like it is the correct one.

I have half my crypto on my ledger now and will send over the rest tonight, it does give you and instant feel of relief knowing they are secure.

[Lucius]

I have half my crypto on my ledger now and will send over the rest tonight, it does give you and instant feel of relief knowing they are secure.

Technically speaking, all the cryptocurrencies you have are on the blockchain, your device only stores the private keys that give you control to send them from the current address to another address. Your digital assets are only as safe as you are in what you do, and only as safe as your backup. Therefore, don't feel too safe, always be alert because we never know from which corner some new danger is lurking.