How to use a cryptocurrency hardware wallet

In this article we will show you how to use the most popular crypto hardware wallet: Ledger.

Ledger is probably the best hardware wallet in the market. The French company makes a safe and easy to use hardware wallet for those wishing to keep their precious coins off the online world. These wallets are basically offline, meaning, they are not connected to the internet, and becouse of that, they are very, very safe, almost impossible to hack or steal coins from them. Even if you loose it, your coins are safe. You just buy another wallet and install your account using your 12 words backup phrase – and voilá, your coins are back.

How can that be, you might ask? Well, the coins are registered on the network, that is, on the blockchain, to be precise. So if you loose your wallet, even if someone finds it, he can not have access to it, since it is protected by a PIN code, a 4 digit combination of numbers.
In the meantime, you just get another wallet (or you can use any online wallet as well, although they are not so safe) and you can easily recover it by using the 12 (sometimes 24) words that has been given to you when you first installed your wallet. The PIN code in this case is not important, that was to unlock your old device. For the new device you can make a new PIN code.

What if you loose the 12 words of the code?

Then you loose everything you had. And there is no way to bring it back. Sorry.
So basically it does not matter if you loose your hardware wallet. What matters is the 12-word code. If you loose the list of those 12 words, or someone is stealing it from you: you are f*cked.

Where can I buy a Ledger wallet?

You can buy it from the makers by clicking on the image below. Do not ever buy it from eBay or other ecommerce platforms (Amazon, Aliexpress, Craigslist, Shopify, etc). You can not trust a 2nd hand wallet. Or even if they say its new, it can be modified so they can steal your coins when you hook it up to the internet and install your codes. Only buy the Ledger wallet from ledger.com and the other poular wallets, the Trezor, from the Czech manufacturer (trezor.io) and finally there is one more less popular but still very good, the Keepkey wallet, from the address shapeshift.com.

(Be extra carefull becouse sometimes hackers register domain names that looks very similar, maybe just one character difference in the name, and they copy the whole content of the original site, so it looks legit.)

 

Free software for the crypto wallets

All three hardware wallet comes with its own free software, so you can manage the coins on your computer, even when the wallet is not connected to it via the USB port.

Finally, the best place to be informed and be up to date with the latest crypto news are Reddit:

The best place to check the cryptocurrency prices is Coinmarketcap.com.
You can read more about these 3 wallets in our previous article.