Ledger is a global leader in security and infrastructure solutions for digital assets and blockchain applications. It’s also one of the two most important companies that produce hardware wallets today. The other one is Satoshi Labs, who manufactures TREZOR.
Ledger Nano S
The Ledger Nano S hardware wallet allows users to protect their private leys, and it does this via an extremely secure element. The Ledger hardware wallet isolates your private keys from the public eye, aka the Internet. They provide massive security against hacks, and users can validate the transactions on the Ledger hardware wallet as a part of the security protocol.
At the end of 2018, Ledger announced the compatibility of the Ledger Nano S with the Monero GUI. The Monero app is live, and you can install in on the Ledger Nano S via the Ledger Live.
First of all, you have to install the Monero app on your Ledger hardware wallet in order to manage XMR with the Monero wallet.
You have to set up Ledger Live with your device and update the firmware on your Ledger.
Installing the Monero app
For this, you have to open the Manager in Ledger Live. After that, connect and unlock your Ledger device. You should allow Manager on your device by pressing the right button. Fing Monero in the app catalog and click the Install button. After the app is successfully installed on your device, close the Ledger Live.
Downloading and installing the Monero wallet
You have to download the Monero wallet from your platform. Extract the package and open the Monero GUI folder. Launch the Monero wallet and choose your language.
Setting up with Ledger Nano S
Unlock the Ledger Nano S and open the Monero app. Now, you have to click on the “Create a new wallet from hardware device in the Monero wallet.” Now, you have to enter a wallet name.
Enter 1720000 in the restore height field, then enter 3:100 in the subaddress lookahead field.
On your Ledger device, choose whether to export the private view key to your computer. Now, you should enter and confirm a password. Also, select an option for the Daemon settings.
You can see that you will be able to start a node, connect to a remote node, and start a local node but use a remote one while your local node is syncing.
Receiving and sending XMR on your Ledger Nano S
To receive XMR, you have to unlock the Ledger device and open the Monero app. Start the Monero wallet. Open the Receive tab and chose how to receive. You can share your address and provide a payment request from the Advanced options.
In order to send XMR, you will have to open the Ledger device and the Monero app, then start the Monero wallet.
Open the Send tab, and enter the amount that you want to send. You have to choose a transaction priority and note that the higher the priority, the higher the network fee. Enter the address to send XMR to, and you can also enter an optional description that will only be visible to you. Click Send and wait for the confirmation. You should verify the transaction details pon your device. Approve the fee displayed and verify the Amount and the Destination. Confirm the whole transaction by validating Accept TX. You can also cancel by choosing Reject TX.
Review the transaction in the summary and click OK to send it.
Read the complete details to learn more.
Ledger Nano X
The Ledger Nano X is finally out, and it’s the very first hardware wallet that supports XMR for use with iOS devices. The Nano X will connect to the iOS device via Bluetooth and will give users the benefits of a standard mobile wallet with the boosted security of a hardware wallet.
It will also work with Android devices and desktop computers as well.
The main difference from the Nano S is that it has Bluetooth connectivity, which allows it to be controlled via a mobile phone and not only from a desktop computer.