How to use nano ledger s to buy bitcoin

Cynthia G. In order to confirm a payment you need to physically press both buttons at the same time. Important Note This page is an information page. An 8-digit PIN code provides the best protection for your device. So only a limited number of wallets can be installed. Once setup, the best wallet option for privacy to use with Ledger is Electrum on desktop, or Mycelium on Android. Read all.

What is Bitcoin

How to use the CoPay wallet. Bitcoin Hardware Wallet First, a bitcoin hareware wallet is very important for security. Hello. I am here in Kensington, Calgary, Alberta, Canada. And today I’m going to be checking out something I’ve been wanting to try for some time. I’m going to be trying out the Ledger Nano S.

A Great Tool for Cryptocurrency Investors

There’s no «one size fits all» wallet. Wallets come on different platforms with different features. The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. DropBit is new, but is very easy to use and friendly for new Bitcoin users. It supports Bitcoin only, but offers Lightning network support. Electrum is a Bitcoin-only wallet that has been around since It’s easy to use, but has advanced features.

Buy Ledger Nano S

How to use the CoPay wallet. Bitcoin Hardware Wallet First, a bitcoin hareware wallet is very important for security. Hello. I am here in Kensington, Calgary, Alberta, Canada. And today I’m how to use nano ledger s to buy bitcoin to be checking out something I’ve been wanting to try for some time. I’m going to be trying out the Ledger Nano S. This is a Bitcoin hardware wallet that allows you to secure your Bitcoins and it’s an upgrade from the Ledger Nano which I covered in a previous video.

Let’s take a look at what it is and how it works. All right. So here I am with my Ledger Nano S and the big improvement here is that it has a screen on the.

It comes with a USB cable. It closes when I’m not using it. And there are two buttons. You’re going to use those to scroll through by hitting the right and left, or select with both buttons at the same time. So let’s get started. We’re going to hit both buttons once and twice.

Here, there’s a couple of intro screens and then it asks if you’d like to configure this as a new device. So I’m going to hit the right button, the checkmark.

And first up, we’re going to pick a PIN code. So let’s hit two buttons and you can scroll up and down with the right and left buttons. I’m going to pick a super easy one for this video. I’m going to go It asks me to confirm the PIN codes. I’m going to do it again, And now we’re done with that we’re going to pick a recovery phrase or rather be given one. So you can scroll through the words and you’re just going to write them all down in order.

Once I have done that I pick up my device. I’m finished with. It’s going to ask me to confirm a couple of those words. So when I hit both buttons here it asks me okay, what is word number five in your recovery phrase. And you’re going to scroll through until you see the correct word.

Then you’re just simply going to select it with both buttons. And again, it’s going to ask me now okay, what is word number So I’m going to scroll through until I see the correct word and once again I’m going to select with both buttons.

It does a quick configuration and now my device is ready to use. Now that I’ve got everything set up I can see that I have a Bitcoin wallet, an Ethereum wallet, a two-factor authentication device and a settings wheel. So I’m going to go to the Bitcoin wallet.

I’m going to hit both buttons to select it. And the rest of this is on my computer. I’m going to click on the Bitcoin wallet and once it opens up, what you see is what you. It is a basic Bitcoin wallet. I have my main account there and it has all the basic functionality that you would expect to. There are settings that you can make changes to. There’s not a lot that I want to change right.

What I’m looking for is I’d like to change my local currency to Canadian Dollars. That is right. I’m going to scroll up and click Canadian Dollars. That’s all I’m going to change for right. And let’s start going through the basic functions. So I’m going to click and receive some Bitcoin. When I click on the receive button it brings up my QR code and my address down. I could copy and paste. But I’m actually going to pull up my phone and I’m going to scan this QR code to send myself some funds.

The wallet I’m using on my phone is called Copay. If you’re unfamiliar with Copay or if you’re unfamiliar with Bitcoin wallets as a whole, I highly recommend you check out my other video on this topic. I’ve done a tutorial for Copay that I will link to. Once that confirms on my phone, I can just back out of this screen on my computer and I should see my transaction pop-up.

There it is. It pops up pretty quickly. And I can see that I’ve just received around 5 Canadian Dollars. Now I’m going to skip ahead. I’m going to hit send. I’ve already copied an address from. I’m just going to paste it in here where it says recipient address. I’m going to click and paste it. Then I am going to send out the maximum amount back to myself, but you can send out anything you like. And when I hit send, instead of anything else on the screen here I’m actually going to need to pick up the device that is plugged into my computer.

And when I do, it’s asking me if I do indeed want to send this amount of money. So to confirm that I’m just going to hit both buttons at the same time to select that I agree. And once I do that on the screen here it says I have a successfully sent transaction. That is all you need to do to send money. Now, I’m just going to quickly click on the Ethereum wallet.

It is basically the same with one little difference. You’re going to choose whether you want Ethereum classic or the main Ethereum chain.

I won’t delve further into that but anyways once you pick one, you open it up. In it, it has all the same functionality as a Bitcoin wallet that you were just looking at. You have your send and receive functions and your main account. That’s pretty much all you need to know for. It is all the. Also, we are on the Ledger website and I highly recommend that you check that. Because they have a ton of information for all of their products, including the one that we just looked at.

They have all of the configuration instructions that we just ran. It is in depth. They have videos on a lot of their products as. So definitely, go over, check out their website. I would also like to show you how to clear off your device. It is really simple. All you need to do is incorrectly enter your PIN three times in a row.

So I’m going to enter so that I get a notification that I’ve done it wrong. I’m going to do that twice more so, and one more time that was number two, And it’s going to tell me that my device has been wiped.

And it’s going to give me information as far as contacting the company for assistance, if I needed. But once I scroll through this I’m going to end up back at the welcome screen.

So my device is cleared and I’m starting from scratch. Now, if I would like to recover my accounts what I’m going to do is I’m going to start it up and I’m going to hit that no, I would not like to start a new device and that I would like to enter my recovery phrase. First thing, I’m going to pick a PIN number just like. When I go through these steps, it’s going to ask me how many words do I have my recovery phrase.

So there were 24 in the one that we wrote. And all we’re going to do is the first word of your recovery phrase you’re going to scroll through and you’re going to pick the first letter.

Bitcoin Hardware Wallet

If your Ledger has been lost or stolen, your funds can still be accessed by importing the recovery seed into Mycelium for Android. This page is an information page. Set up accounts. A fresh install of Mycelium is required. Select the appropriate word by pressing the right or left button. If this e-mail has not arrived, just check your SPAM folder. Buy with fiat Buy Bitcoin directly with your credit card. If the Nano S had accounts, you would simply select the account you want to add Mycelium. Exchanges provide you with information on bitcoin price. It stores your keys in its offline, secure environment. This can be higher or lower depending on the system load. First, make sure you have the latest version of GreenBits installed on your Android device. When you leave your money on exchanges there are lot of things that can go wrong. In the following dialog, you choose in the first step for which account you would like to set up a crypto currency.