When you setup your Nano S, the wallet generates a recovery phrase. For the extra paranoid user, you may want to store your seed in a fireproof safe. When you use a hardware wallet, which stores your bitcoins offline, then your coins are stored offline and out of reach from hackers. Buy Bitcoin with exchange services Exchanges provide you with information on bitcoin price.
Best Wallet For
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, everyone. 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 now. I’m going to be trying out the Ledger Nano S.
Quick Review — What is a Hardware Wallet?
How to use nanp 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. 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 how to buy bitcoin ledger nano s. 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 btcoin 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 ledgre.
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 Hoe 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 hoow both buttons to select it. And the rest of this is buh 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 ledgsr. 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 nsno 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 Too 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 nan 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 Hkw 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 nxno 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 naano first letter.
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Using Ledger Live with Your Ledger Nano S Part 2: Transferring Coins
How to Buy Bitcoin (BTC) in 3 steps
Download Ledger Live Software. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. If you already have Mycelium installed then skip this step. The pin code is the only thing carries over from other accounts or wallets on the Nano S. Read all. After three incorrect guesses of the pin code the device wipes. If everything is ok, how to buy bitcoin ledger nano s on SEND. You will now be shown your portfolio with an overview of the price developments of all your cryptocurrencies. Pressing the right button now displays the second word. Think of a hardware like your bank account. The main principle behind hardware wallets is to provide full isolation between the private keys and your easy-to-hack computer or smartphone. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing. The old Ledger seed is now insecure and should not be reused. If you want, you can now create more accounts for example, if you want to manage bitcoins or other cryptocurrencies for other people.
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