Question 1

Can I use several hardware wallets at the same time with Ledger Live?

Accepted Answer

The Ledger Live application can be used with multiple ledger devices. If the different devices have the same recovery seed, they can be used easily interchangeable. If the devices have different seeds, the appropriate hardware wallet must always be connected in order to be able to carry out transactions with the account.

Question 2

Can I manage Bitcoin SV (BSV) with Ledger?

Accepted Answer

Bitcoin SV (Bitcoin Satoshi Vision, or BSV) is a cryptocurrency formed on November 15, 2018 by a hard fork from Bitcoin Cash. Bitcoin Satoshi Vision is the fourth largest cryptocurrency and has thus overtaken Bitcoin Cash (Source: Wikipedia). Users who have secured their Bitcoin Cash with a Ledger hardware wallet before the hard fork automatically own the same amount of BSV as BCH. BSV is not supported in Ledger Live. Instead, users can manage their BSV using the Bitcoin Cash app on their ledger device in conjunction with Electrum SV, as described below: https://electrumsv.io/.

Question 3

How to transfer coins from Coinbase to Ledger?

Accepted Answer

If you buy cryptocurrencies through Coinbase and store them there, Coinbase is in possession of your private keys and could theoretically disappear with your cryptocurrencies at any time. Therefore, it is recommended not to keep the coins on exchanges, but to transfer them to wallets, where one is the only one in possession of the private keys. You should therefore consider sending the coins from your Coinbase Wallet to your Ledger Wallet. For a possible later sale, you can simply send the coins from the hardware wallet back to Coinbase.

How to transfer coins from Coinbase to your hardware wallet

Generate a new address via your hardware wallet. For example, open the Ledger Live software and select the "Receive" option for the corresponding account. Copy the displayed address to your cache.
In Coinbase, you now navigate to your portfolio page and select the appropriate wallet from which you want to send.
In the Send dialog box, select the wallet address option because you want to send to a wallet outside of Coinbase. Copy the address of the hardware wallet into the corresponding field.
Enter the amount of cryptocurrency you want to send into the Amount field.
Select Next and confirm the transaction details to complete the sending. Make sure that the address matches the one copied from the hardware wallet.

Question 4

How do I use Ledger to create the wallet for Stellar Lumen?

Accepted Answer

Install the Stellar app on the ledger device to manage Stellar (XLM) with the Stellar Account Viewer or StellarTerm. The Stellar app is developed by the Stellar community. To manage the transactions you have to use the Stellar Account Viewer, because Ledger Live does not currently support this cryptocurrency itself.

Question 5

Do Ledger hardware wallets support IOTA?

Accepted Answer

The IOTA Foundation announced on November 2, 2018 that Ledger hardware wallets now support the storage of IOTA tokens. To do this, the IOTA app must be installed on the Ledger hardware wallet in order to manage MIOTA with the official Trinity wallet. The IOTA app is developed and supported by the IOTA community. How to use your ledger with the Trinity Wallet is described on their website: https://trinity.iota.org/hardware.

Question 6

Can I restore Ledger Live to a new computer?

Accepted Answer

You can easily install Ledger Live on a new computer and link your old hardware wallet again. Ledger Live is just the interface for managing cryptocurrencies All the necessary keys are stored on the hardware wallet itself.

Question 7

Is it possible to change the language?

Accepted Answer

Ledger Live provides the ability to change the language. The language settings of the hardware wallet itself cannot be changed. There, the menu and all settings are only available in English. The same applies to documentation and support.

Question 8

How many coins can be stored on Ledger hardware wallets?

Accepted Answer

Ledger hardware wallets (Ledger Nano S Plus, Ledger Nano X or Ledger STAX) support over 6,000 different cryptocurrencies. Among them are all the well-known coins like Bitcoin, Ethereum or Ripple. A complete overview can be found here: [button color="btn-primary" size="btn-md" shape="btn-rounded" outline="false" block="false" target="_blank" rel="" href="/out/ledger-cryptocurrencies"]Ledger supported cryptocurrencies.[/button] In principle, as many supported coins/cryptocurrencies can be stored on the Ledger Nano S as you like. This is because the hardware wallet only stores the private keys that guarantee access to the coins. To manage the coins, the corresponding app must be installed on the device. However, you can only install a certain number of apps at a time on the Ledger Nano S or Nano X. This is because the memory of the Ledger Nano S and Nano X is limited. However, it is not a problem to switch apps by un- and install, so the coins are not lost. It is not yet known how many apps the Ledger STAX can store simultaneously.

Question 9

How do I set up a Ledger hardware wallet?

Accepted Answer

Setting up a Ledger Hardware Wallet is done in 4 simple steps.

Download Ledger Live to begin the setup process. This is also where cryptocurrencies will later be managed.
Select PIN code write down the recovery seed - the 24-word recovery seed is the only backup of the private key. Never give it to anyone else!
Installing applications on the hardware wallet via Ledger Live, for example the Bitcoin application.
Adding an account to manage cryptocurrencies.

The complete setup process for all models is clearly explained with videos here: Ledger Getting Started.

Question 10

What does NYKNYC mean?

Accepted Answer

If you're in the crypto space, you've probably come across the acronym NYKNYC. This stands for "Not your keys, not your coins" and is a basic and important rule for dealing with cryptocurrencies. But what does it mean and what can you learn from it as a cryptocurrencies user? The phrase "Not your keys, not your coins" refers to the fact that you must have the private keys for your cryptocurrencies. The person who holds the private keys decides how the crypto assets associated with them are spent. This means that if you do not own them yourself, you trust a third party not to transfer them against your will. This is the case, for example, when storing cryptocurrencies on an online exchange. Here, the private keys are held by the operator of the exchange. However, possession of the keys also means that you yourself are responsible for its security. This is why there are hardware wallets that ensure secure generation and storage of private keys. A more widespread manufacturer is Ledger. Their devices, like those of all other manufacturers, store the private keys without ever revealing them to the computer or smartphone. This means that even a hacker with access to the PC would not have access to the valuable cryptocurrencies. Ledger uses only the highest quality security chips, known as Secure Elements, to withstand even the most sophisticated physical attacks on Ledger hardware wallets. [button color="btn-primary" size="btn-md" shape="btn-rounded" outline="false" block="false" target="_blank" rel="" href="/out/ledger"]to the Ledger hardware wallets[/button]

Question 11

Which coins does Ledger support?

Accepted Answer

Ledger supports thousands of different cryptocurrencies and tokens. Here are some of the most important ones that can be managed with Ledger Wallets:

Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Binance Smart Chain (BNB)
Solana (SOL)
USDC (USDC)
Ripple (XRP)
Dogecoin (DOGE)
Cardano (ADA)
Tron (TRX)

This list is not complete, as Ledger supports thousands of different cryptocurrencies and tokens and the list is constantly being expanded. You can find the complete list on the official Ledger website: [button color="btn-primary" size="btn-md" shape="btn-rounded" outline="false" block="false" target="_blank" rel="" href="/out/ledger-cryptocurrencies"]Ledger supported cryptocurrencies.[/button]

Question 12

Is Ledger still safe?

Accepted Answer

In the world of cryptocurrencies, security is of crucial importance. Many users are wondering whether Ledger, one of the leading providers of hardware wallets, is still secure, as there have been various incidents in the past. In this article, we look at the current security concerns and explain how Ledger is responding to them.

Is Ledger still safe in [y]? Previous security incidents

2018: Receiving address manipulation

Ledger issued a warning about a possible man-in-the-middle attack in 2018. A proof-of-concept attack was discovered in which a malware manipulates Ledger's Chrome application to change the displayed receiving address. However, Ledger emphasizes that users are safe as long as they verify the new receiving address on their Ledger device. Nobody lost money as a result, as this was only a concept attack. Ledger has responded by updating the Chrome application to prompt users to verify the receiving address on the Ledger device. Meanwhile, the Chrome extension no longer exists and in Ledger Live new addresses must always be checked on the device.

2020: Customer data compromised

In July 2020, a Ledger database containing e-commerce data was compromised. Around 272,000 detailed customer details such as postal addresses, names and telephone numbers were leaked. Ledger responded by hiring an external security company and updating the affected databases. Despite the leak, the CEO emphasized that no cryptocurrencies or wallets are affected and that the security of hardware wallets remains untouched. Ledger has continued to take measures to improve data security and protect affected customers from phishing attacks. The data is still being used for phishing attacks by e-mail and SMS.

2023: Ledger Connect Kit Hack

In December 2023, the Ledger Connect Kit library was infiltrated by hackers. This vulnerability allowed attackers to inject malicious code into DApps that used the Ledger Connect Kit. This caused users to sign transactions that emptied their wallets. Ledger reacted quickly by removing the malicious code and updating the affected versions. The vulnerability was fixed within about five hours of its discovery.

2023: Ledger Recover Problem

Ledger Recover is a paid, optional subscription service from Ledger that allows users to recover access to their crypto wallet if they have lost the recovery phrase (seed phrase). "Ledger Recover" has been criticized since its announcement because it undermines the basic principles of hardware wallet security. Here are the main points of criticism:

Security risks: By transferring fragments of the private key (seed phrase) to cloud services, there is a risk that this data could be intercepted by hackers.
Trust issues: Users must blindly trust Ledger to handle their data securely because the code is not completely open source.
Communication problems: The introduction of Ledger Recover was criticized as poorly communicated, leading to confusion and concerns.
Violation of the principles: The crypto community argues that the seed phrase should never leave the device to ensure the highest standard of security.

Due to this criticism, Ledger has postponed the launch of Ledger Recover for the time being and plans to make the code base completely open source to ensure transparency and trust.

Measures to improve safety

Ledger has taken several measures to improve the security of its wallets:

Regular firmware updates: Ledger continuously carries out updates to counter new threats.
PIN codes and recovery phrases: These functions significantly increase security by adding additional layers of protection.
Isolated hardware: The private keys are stored offline, which makes them less susceptible to hacker attacks.

Conclusion whether Ledger is still safe in the year [y]

Although there have been security problems in the past, Ledger has reacted quickly and taken measures to improve the security of its wallets. With regular updates and additional security features, Ledger remains a reliable choice for the secure storage of cryptocurrencies.

Question 13

Can you simply remove the ledger?

Accepted Answer

It is safe to disconnect a Ledger hardware wallet from a computer or smartphone without following any special steps. In contrast to USB sticks, no "Safely Remove Hardware" guidelines need to be observed. If a Nano S or Nano S Plus is removed, the device is switched off, while the Nano X, Flex or Stax is only locked. Nevertheless, it is recommended not to disconnect the device during the transaction release or installation/uninstallation of nano apps in order to avoid errors in Ledger Live.

Question 14

What is Ledger Recover?

Accepted Answer

Okay, let's talk about Ledger Recover! You may have heard of it, but do you know exactly what it is? Don't worry, I'll explain it to you very simply. Imagine that your seed phrase - the master key to your cryptocurrencies - is like the PIN to your bank card. If you lose the PIN, you can no longer get your money. It's the same with the seed phrase. That is why it is so important to keep them safe. And this is exactly where Ledger Recover comes into play.

Ledger Recover is an additional service from Ledger that allows you to store your seed phrase encrypted in the cloud. Sounds a bit paradoxical at first, doesn't it? Your super-secret phrase in the cloud? But don't panic, Ledger has come up with a few ideas. First you have to identify yourself, just like when you open an account at your bank. Then your seed phrase is split into three parts, each part is encrypted separately and sent to three different companies. So nobody has the complete phrase. Clever, isn't it? If you lose your seed phrase now - don't worry, it happens to the best - you can recover it using Ledger Recover. You just have to identify yourself again, then you will get your three parts back and can restore your wallet.

Ledger Recover sounds great, doesn't it? But of course there is a catch...

Ledger Recover is not free of charge. You have to take out a subscription, just like with Netflix or Spotify. You can find the current price here. You also have to deposit your data with Ledger and the other companies. Some people don't think that's so great, understandably.

What is the alternative?

Well, the good old method: write down your seed phrase and keep it safe. Preferably in several places, in case a fire breaks out or you move house and misplace the note. It may sound old school, but it works.

So, what should I do now?

You have to decide for yourself! If you want to play it safe and convenience is important to you, Ledger Recover may be a good option for you. However, if you prefer to retain full control over your data, then stick to the classic method. Another tip: find out all you can before you make your decision. Read the Ledger Recover terms and conditions carefully and see what other users have to say. There are many forums and blogs on the internet where people share their experiences. And remember: no matter which method you choose, treat your seed phrase like gold! After all, it is the key to your crypto treasures.

Question 15

What does Ledger Recover do?

Accepted Answer

Ledger Recover is an optional service from Ledger that helps you to keep your seed phrase safe. Basically, Ledger Recover does three important things:

It encrypts your seed phrase. Your seed phrase is like the master key to your cryptocurrencies. Ledger Recover splits this phrase into three encrypted fragments. This means that it is optimally protected even in the event of a data leak.
It distributes the fragments. Each fragment is sent to a different provider. Ledger works together with trustworthy partners such as Coincover. This prevents anyone from gaining access to your entire seed phrase.
It enables recovery. If you lose your seed phrase, you can recover it via Ledger Recover. You have to identify yourself, similar to a bank. The fragments are then merged and you regain access to your cryptocurrencies.

In short: Ledger Recover offers you an additional layer of security for your seed phrase in case you lose it. Keep in mind, however, that Ledger Recover is a paid service and some users have concerns about data protection. Weigh up the pros and cons and decide for yourself whether Ledger Recover is right for you. You can also find out more here: What is Ledger Recover?

Question 16

How do I get money on Ledger?

Accepted Answer

So you've bought a ledger and are now wondering how to get your first cryptocurrencies on it? Don't worry, it's easier than you might think! In principle, you have two options: Buy or transfer.

Buy cryptocurrencies directly

Did you know that you can buy cryptocurrencies directly via the Ledger Live app? Ledger has partnerships with various providers for this purpose. Simply select the desired cryptocurrency, enter the amount and it will be transferred directly to your Ledger Wallet after payment. Super practical and safe!

Transfer cryptocurrencies

If you already have your cryptocurrencies on an exchange or another wallet, you can easily transfer them to your ledger. For this you need the receiving address of your Ledger Wallet. You can find them in the Ledger Live app. Copy the address, paste it into the exchange or other wallet and your coins will be sent to your ledger.

Safe is safe

Whichever method you choose, always make sure you use the correct address! A typing error can lead to your cryptocurrencies being lost. It is therefore better to check the address twice before confirming the transaction. If you have any further questions, please have a look at the Ledger website. There you will find lots of helpful information and tutorials.

Question 17

Does the Ledger Nano S Plus hardware wallet support iOS (iPhones)?

Accepted Answer

The Nano S Plus was never intended for use on iPhones due to restrictions in iOS. iOS does not allow devices such as the Nano S Plus to connect via cable. If you are looking for an iOS-compatible hardware wallet from Ledger, take the Ledger Nano X. Here the connection works via Bluetooth. However, there is the Ledger Sync function. With Ledger Sync, you can synchronize your accounts across devices and view your crypto portfolio from all devices. To get read-only access to your iPhone, set up Ledger Live Desktop and activate Ledger Sync. You can find instructions here. To summarize: The Nano S Plus does not work directly with iPhones due to iOS restrictions. But you can view your accounts on the iPhone with Ledger Sync. Or use the Ledger Nano X for full support.

Question 18

Is the Ledger Shop reputable?

Accepted Answer

Are you wondering whether the Ledger Shop is reputable? Understandable! After all, it's about the security of your cryptocurrencies. Short answer: Yes, the official Ledger Shop is reputable and secure. Ledger is the best-known manufacturer of hardware wallets. The official store is the best place to get an original device. Here are a few reasons why you can trust the Ledger Shop:

Official manufacturer: You buy directly from the manufacturer and thus avoid counterfeits.
Secure payment methods: The store offers various secure payment options.
Buyer protection: As with any reputable online store, you also have buyer protection here.
Verified products: Ledger guarantees the originality and functionality of its products.
Support: If you have any questions or problems, you can contact Ledger Support.

Make sure that you are actually on the official Ledger website https://ledger.com. You can check the certificate of the website next to the URL in the browser. Beware of fake stores that offer ledger products. Poor ratings on Trustpilot or similar sites are often due to the ledger team being overloaded during peak periods or application errors. My tip: Always order your Ledger Wallet directly from the official Ledger Shop. This way you play it safe and protect your cryptocurrencies in the best possible way. On my page you will find detailed test reports on various Ledger wallets. I'll show you what to look out for when buying and how to set up your wallet correctly.

Question 19

What is clear signing and why is it so important?

Accepted Answer

In the digital world of cryptocurrencies, security is a constant issue. The recent hack at Bybit, where attackers stole significant amounts of cryptocurrencies through blind signing, highlights the need to fully understand transactions. This is where "Clear Signing" comes into play, a technology that emphasizes transparency and security.

What is clear signing?

"Blind signing" is like signing a blank check. You approve transactions without really understanding the details. "Clear Signing", on the other hand, transforms complex transaction data into easy-to-understand information that is displayed directly on the screen of your ledger device. You can see the recipient address, the exact amount and the details of smart contracts. This means you know exactly what you are approving before you do it.

Why is clear signing so important?

This technology protects you from fraud and gives you full control over your cryptocurrencies. Attackers use "blind signing" to trick users into authorizing malicious transactions. With "Clear Signing" you can check every transaction and ensure that it is correct. Ledger has developed this technology to improve the security of cryptocurrencies and give users a sense of security. Ledger Clear Signing

The safe screen makes all the difference

A secure screen, as used with ledger wallets, is crucial. It is controlled directly by the Secure Element Chip, a high-security microcontroller that protects against attacks. Without this protection, you have to rely on the display on your computer or smartphone, which can be vulnerable to manipulation. Ledger's vision is that "what you see is what you sign" becomes a reality.

The Bybit hack and clear signing

The Bybit hack is a perfect example of how "clear signing" could have helped. If the users had used Ledger hardware wallets, they would have recognized the manipulated transaction on the secure screen and prevented the theft. Ledger's initiative would have immediately displayed the fake smart contract logic and thus prevented the hack.

Ledger as a pioneer for security

Ledger is a leading provider of hardware wallets and is driving the development of "Clear Signing". The company is working with partners such as MetaMask, 1inch, Rabby and WalletConnect to establish this technology across the industry. Ledger sets new standards for cryptocurrency security and provides users with the tools to protect their assets.

Conclusion

"Clear Signing" is a decisive step towards more security in the crypto world. Ledger shows how it's done and sets a new standard for the entire industry. If you really want to protect your cryptocurrencies, a Ledger hardware wallet is the best choice.

Advantages	State-of-the-art security Simple backup in the form of 24 words Simplicity: 2 buttons and a small monitor in the form of a USB stick 5.500+ (to the complete list) Various cryptocurrencies are supported More storage space for over 100 apps
Compatibility	Mycelium, Rainbow.me, BTC direct, Mercuryo, Metamask, MyEtherWallet, Bitstamp, SSH Agent, FIDO/U2F, Password Generator, OTP
Cryptocurrencies	Bitcoin, Casper, Solana, Tezos, Monero, Ethereum, Litecoin, Dogecoin, Zcash, Dash, Stratis, Ripple, Komodo, Bitcoin Cash, Ethereum Classic, ERC-20 Tokens, PoSW, ARK, Expanse, PivX, Vertcoin, Viacoin, NEO, Bitcoin Gold, Stellar, Hcash, DigiByte, Qtum, IOTA, Bitcoin Private, ZenCash, Nano, Nimiq, Peercoin, Woleet, Zcoin, Tron, Wanchain, Vechain, Ontology, Kowala, Icon, Particl, Rootstock, Hycon, Waves, Rise, FIC Network, Pirl, EOS, Akroma, Stealth, POA network, Lisk, Musicoin, Factom, Gamecredits, MIX, ethergem
Package Contents	1 hardware wallet 1 USB-C to USB-A cable 1 Introductory brochure 3 Recovery Sheets 1 keychain strap
Brand	Ledger
Platform	Windows, Linux, Mac, Android
Altcoin Support
Supported Coins	5.500+ (to the complete list)
Open Source
Secure Element
Display as 2FA
Interfaces	USB
Input Options	Buttons
Weight	21g
Size	62.39x17.40x8.24mm

Shop		Preis
	Buy Ledger hardware wallets directly from the manufacturer without intermediaries Numerous accessories in the store Recommended by Forbes, TechCrunch and Bloomberg More than 15 accepted payment methods	Approved check price to the shop
Current discount offers -10% Save up to 10% with Ledger Bundles
	Sales partner of Ledger, TREZOR and others worldwide shipping Cryptomaan Premium Service	check price to the shop
	largest online mail order company, where you can also find hardware wallets and accessories Caution is advised with private sales or fraudulent shops that use Amazon as a platform	check price to the shop
	Caution is advised with private sales or fraudulent shops that use Amazon as a platform	check price to the shop

Ledger Nano S Plus
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