Tutorial: Using the Ledger Wallet (Advanced Features)
Cold wallets are considered to be the safest way to store your private keys. We recommended learning more about the basics of the Ledger wallet in our previous tutorial before continuing.
What is the Ledger wallet?
Ledger is a hardware wallet that can be used to manage your crypto assets. Also known as a ‘cold wallet’, Ledger wallets do not connect to the internet which provides an extra layer of security for your private keys and assets.In this tutorial, we will guide you through how to use the more advanced features that are offered by the Ledger wallet. These include adding other networks to the wallet, using Ledger with Dapps and migrating assets directly from a centralised exchange to Ledger.
How to connect the Phantom wallet to Ledger
Phantom is a tool that can be used to manage Solana and SPL tokens on your hardware wallet. The tool can also be used to access a number of solana-based decentralised applications including NFT projects, decentralised exchanges, games and social media platforms.If you already use Phantom to manage your solana-based tokens, you may want to connect it with your Ledger wallet to provide extra security for your assets. Here’s how.
Preparing your Ledger wallet
You will need to prepare your Ledger wallet before it can be used for Solana. To do this, you should install the Ledger Live app onto your computer device. Once the app has been installed, make sure that the firmware of your Ledger device is up to date.
Through the its Live app, navigate to the ‘manager tab’. Here, you can connect to and unlock your Ledger device.
Next, you will need to install the SOL app onto your device. You can do this by searching for the app in the Ledger app catalogue and then clicking ‘install’. Your device will then begin to download the app.
You can then login to your Solana account and view your tokens.
Before connecting with Phantom, you must enable ‘blind signing’ on your Ledger device. You can do this through the settings function in the Solana app.
Connecting your Ledger device to Phantom
Before connecting your Ledger device to phantom, you will need to plug your device into your computer and open up your Phantom Wallet app.Next, open the Solana app on your device.
In the Phantom wallet, open up the account menu. Then, click ‘add/connect wallet’.
Then, choose the ‘connect hardware wallet’ option.
You will then find yourself in a Ledger connection flow. Simply follow the steps in your screen until you are given the opportunity to select a USB device to connect to. Then, choose your Ledger device and click ‘connect’.
The final step is to select an address that you would like to use with Phantom. After choosing an address, the process should be completed and you will be able to interact with Solana-based functions and assets through your Ledger device.
How to use Ledger with Dapps
Dapps (decentralised applications) are digital applications that run on a blockchain network. The Dapps allow crypto users to access a range of projects, games and social media platforms that are built on blockchain.You can use your device to access Dapps and access everything in one place.
The easiest way to use Dapps with your device is to install them from the Live Apps Catalogue. This is located in the Discover section of Ledger Live. You can access the catalogue through the live app on either your desktop or mobile device.
Within the app, unlock your device and press both buttons to allow the manager on your device.
Once you have completed this step, the manager will display the app catalogue as well as any Dapps that are already installed on your device.
From here, simply locate the Dapp that you wish to use and click ‘install’.
You can uninstall Dapps from the same page.
Using Wallet Connect
Wallet Connect is a tool that allows you to connect your Ledger wallet to a range of decentralised applications. To use Wallet Connect, you will need to hold some ETH in your Ethereum account. Then, simply select the Dapp that you would like to connect to and choose ‘wallet connect’.A QR code should appear:
Next, open your live account and go to your Ethereum account page. Click ‘manage’ and then ‘wallet connect’.
A wallet connection window should appear. You will need to paste the QR code that you copied and then click ‘continue’.
You will then be asked to review the connection and then press ‘continue’ again. A confirmation window should appear after doing this to show that the connection has been a success.
How to migrate assets from a centralised exchange to Ledger
You may already hold coins on centralised exchanges. Migrating these to your ledger device can improve the security of your assets and allow you to access everything in one place.
The first step of this process is to open up Ledger Live on your computer.
Click the ‘receive’ button on the left panel and select the crypto assets that you wish to use. Next, you will need to connect your Ledger device to your computer and then copy the address that appears on screen.
We recommended copying and pasting the address instead of typing it manually to avoid errors. The next step is to login to the exchange that you wish to withdraw funds from. Choose the asset that you wish to exchange and select ‘withdraw’ (The exact process of withdrawing coins will be different for every platform).
You may want to check out our tutorial on how to use the Binance for further details!
You will then need to enter the address that you previously copied from it as well as the amount that you would like to migrate. Once the process is complete, you should be able to see your funds on your device.
Comment below if you found this tutorial helpful! Also, check out our other Ledger tutorial to familiarise yourself with the basics.
Disclaimer: THIS IS NOT FINANCIAL OR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make, and only you are accountable for the results.
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