Hey, guys!
Welcome to another video episode of CoinSutra
and your host Harsh Agrawal.
In the last video, I have shared the unboxing
video of Ledger Nano S.
And in this video, I am going to show you
how to configure your Ledger Nano S for the
first time.
This process is going to be interesting and
especially if you are in
the Bitcoin industry or even you are using
any alternate coin like
Ethereum, Dash, Zack, you can store all those
altcoins also on Ledger Nano S.
It supports, almost about six cryptocurrencies
including
Bitcoin.
Personally, I like Ledger Nano S a lot. I
mean, of all the hardware
wallet, Ledger Nano S is the one which got
the maximum rating.
If you don’t have one yet, you can order one
from the link in the
description.
From there you can go to the official site
and order a Ledger Nano S for yourself.
Alright!
So, without further delay let me quickly show
you how you can start using Ledger Nano S.
So, the very first thing, let me quickly give
you an overview of this Hardware wallet.
So, once you have the hardware wallet, it
does not have much.
It has screen over here where the numbers
would be displayed, where the recovery phrase
will be displayed.
I would show you that in a moment.
There is a port for the micro USB so once
you plug it your Ledger nano S would start.
Without this, your Ledger Nano S would not
work.
So, there are two buttons over here. This
is left button and right
button will help you to select your choice
and if you press them
together that’s like a confirmation.
Let’s quickly go ahead and plug our brand
new Ledger Nano S and let’s learn how to use
it.
So, here my micro USB is connected with my
system and that’s it.
Ledger Nano S is booting.
So, welcome! Press both buttons to begin so
you have to press both the buttons together.
So let’s control the user interface. Use left-right
buttons to change value.
Alright, so their interface is so easy to
use even if you have no zero technical skill
you can start using Ledger Nano S in no time.
Alright! So, to begin configuration press
both buttons.
So let’s configure as a new device or if you
are restoring from earlier recovery phase
if you have used Mycelium or any other Bitcoin
wallet you can use that as well.
In this case, I am configuring this one as
a new device.
So, I will select the right button over here.
Select your PIN code.
Now, this PIN code is essential. This PIN
code protects your Bitcoin.
So, imagine like, if somebody gets access
to your hardware wallet if they don’t know
your PIN code they won’t be able to transfer
the bitcoins
Sounds great?
Alright!
So let’s choose your PIN code. Double-select.
For this tutorial, I’m keeping it 1 2 3 4
and of course, you don’t keep 1 2 3 4 or any
such PIN code. Keep make it unique, make it
hard to guess.
Now confirm your PIN code again. So let me
quickly do that.
To make a selection, you have to press both
the buttons at the same time.
So let’s quickly do that.
Now the third one which is very important.
You need to write down your recovery phrase.
Now please don’t make that mistake of writing
down your recovery phrase on your computer.
Take a paper and pen and use the recovery
sheet over here or you can use an A4 sheet
and note down your recovery phrase.
So, in this tutorial, I will be resetting
my bitcoin wallet in a while.
I would definitely show you how to reset your
Ledger Nano S also.
So I’m noting down my recovery phrase on an
A4 sheet and let’s do that.
Alright, guys! So I’ve taken backup of recovery
phrase on this paper.
Once this is done, you have to double press,
and the wallet would ask you to confirm your
recovery phrase.
This is to ensure that you have the right
recovery of the phrase and you have not made
any mistake. So again press both the buttons
at the same time.
So it says select word number two. So, in
this case, our word number two is Paper.
So let’s move ahead
Let’s tap right right.
Alright! Here it is.
So just double press, select word number eleven.
Word number 11 is Saddle. So P Q R S.
So, that’s it. Double press now.
Starts configuring and your device is now
ready.
Well, your first half of the job is done.
Your Ledger Nano S wallet is ready to be used.
However, to really start using it, you need
to download Ledger Nano S Chrome app on your
computer.
So let’s go ahead and see how to start using
Ledger Nano S on your computer.
Hey guys!
So, so far, we have connected our Ledger Nano
S to computer.
We have set the pin. We have also taken the
backup of the recovery phrase.
Now, the next step is to start using the Ledger
apps and in this section, I am going to show
you how to do that.
So go ahead and use the link in the description
to go to this particular page and you need
to download the wallet apps.
So they have different apps.
They have an app for Bitcoin and altcoins,
and then they have app for ethereum, and they
have management apps that is Ledger managers
and Ledger authenticator.
In this video, I’m going to show you how to
use Ledger wallet Bitcoin and Ledger Manager
app.
So let’s first download the Ledger Manager
app and also Ledger wallet bitcoin and altcoin.
Alright!
So make sure once you’re installing it like
it’s the official app, you know, don’t by
mistake download anything else.
So, in this case, I have already the ledger
manager app is already installed.
And similarly, I have ledger wallet Bitcoin
is also installed.
So, watch view into is.
Alright! So the first thing it asks you to
connect your ledger wallet.
So my Ledger wallet is already connected.
And so these are the wallets that I can install.
So let’s quickly install Bitcoin wallet.
To allow installation of the app, you need
to allow this on your
Ledger Nano S.
So, remember you are installing this application
on the hardware device.
So this one is already installed.
Let’s try installing Dash. Let’s see if that
one is installed or not.
Alright.
So, I just installed Dash also. I can install
Dogecoin also
I can install Ethereum also.
So the other few currencies are ZCASH. Stratis
is what they have added in the latest version
1.1.3
It was not in the earlier version. Litecoin.
Personally, I would recommend anybody to invest
in Bitcoin, Dash
Ethereum and Stratis.
However, this suggestion is only applicable
for now. It might change after few months.
So, make sure, you keep reading CoinSutra
for the latest suggestion.
Alright! So from here, ahh.. if you need to
update your wallet.
From where?
You can do it from here.
I would show you that in another video.
Alright, guys, so it’s time to open the Bitcoin
wallet using our Ledger Nano S.
So, to do this, you need to first connect
your Ledger Nano S and enter the PIN.
In this case, we have entered the PIN 1234.
So, let me quickly change to that 1. Right.
So, it would show you all the different Bitcoin
and altcoin choices that you want to use.
Before we move ahead let me quickly go, take
you to the settings tab.
So, go to the Settings tab. You can configure
brightness here. You can rotate your screen
you can invert colors if you want.
If you want to shuffle your PIN, change your
PIN, you can do that
from here.
You can check what version of Ledger Nano
S you are currently using. So, this one is
1.2.
1.3 is already out.
So, I would show you that in the next video
how to upgrade your firmware as well.
So, double tap to go back and let’s quit.
Alright.
So now the thing is we need to open Bitcoin
wallet.
So do this you need to have Bitcoin wallet
app installed on your
computer that’s from Ledger Nano S.
I have added the link in the description so
don’t get confused just use that and install
the app.
Now double tap to select the wallet, and it
does not have much option.
Now it’s time to go back to our computer screen.
Alright so let’s open Ledger wallet Bitcoin.
So but to open the Ledger wallet Bitcoin,
we need to first close the management app.
Let’s do that.
Now let’s launch the bitcoin wallet app.
TaDa!!
That’s it.
That’s your Bitcoin wallet using Ledger Nano
S.
If you want to receive Bitcoin, you can click
on receive.
Ah! This is your Bitcoin wallet address. You
can store it anywhere if you want.
You can copy the QR code, and then you can
start receiving Bitcoin.
Alright! So let’s see what else we have here.
So one thing you can create as many accounts
as you want but the only rule is like first
account should have at least some Bitcoin.
It could be 0.0001 Bitcoin, but it needs to
have some amount of
Bitcoin before you can create a more Bitcoin
wallet within this.
Here you have a refresh button in case if
you have any question you can always click
on help and you can either contact the customer
support or you can directly browse the knowledge
base.
You can click on settings if you want to change
anything.
If you want to configure the Bitcoin wallet
unit depending on what is exchange rate that
you want to use they have all the exchanges
rate however I don’t see my country Indian
currency here that’s pretty sad.
Alright, so you can select your region you
can select the interface language.
Click on the other settings, and you can select
the confirmation point there like you know
how many confirmations you need before you
can start spending bitcoins.
You can configure the fall transaction fees
rate and pretty much that’s it.
So these are the settings.
This is your Ledger Nano S Bitcoin wallet.
You can receive your Bitcoin any time with
this address.
You can also send Bitcoin once you have it.
Once you have created, ahh, multiple accounts
you will see an option where you can change
your account name.
So let’s say you are collecting bitcoin for
long-term investment and so you can create
a new account.
You can name it to long-term investments.
If you are buying Bitcoins from Coinbase,
you can, and you want to store it on a separate
account you can do that from here.
So this makes the account management pretty
easy well that’s all
about Ledger Nano S.
If you have any question which I am pretty
sure you will have feel free to ask me in
the comment section below.
Do let me know how did you like this video?
Your feedback really matters because it will
help me to create better videos in the future.
And do not forget to subscribe to my channel
for more such updates.
I will see in the next video.
Bbyee!
This is Harsh