This step-by-step guide shows how to setup the Ledger Nano S hardware wallet to manage 24+ cryptocurrencies. The Ledger Nano S is one of the most secure ways to manage your cryptocurrency investments because it protects the private keys to your cryptocurrencies. Once your Ledger Nano S is setup, visit our guide on how to transfer cryptocurrency from an exchange to your Ledger Nano S. Let’s get started!
Visit the Ledger website to purchase your Ledger Nano S. Do not purchase from third-party sellers because there is no guarantee that someone has not already tampered with the device. Order early. There are sometimes delays in Ledger Nano S shipments because there is more demand for the devices than expected.
The box for the Ledger Nano S will contain the following: a quick start guide with pages regarding anti-tampering, configuring the device, and your recovery phrase; a keychain ring; two different connectors; a usb cord; and the device.
Plug the Ledger Nano S into a usb port on your computer to get started with the setup. It will immediately display a welcome message and explain how to use the two buttons on the top of the device to navigate the device.
First choose whether to configure as a new device or not. We will choose to configure as a new device in this guide. Note that the other option is to restore an old Ledger account using a recovery phrase (more on that later).
Choose an eight digit pin for your Ledger Nano S. You will need this pin to access your cryptocurrency and confirm some transactions with the Ledger Nano S. Any person with access to both your eight digit pin and this particular device will have access to your cryptocurrency.
Then confirm your eight digit pin. If you lose or forget this pin code, you can still access your cryptocurrency using a 24-word recovery phrase that we will create later in this guide.
The next and most important part of setting up a Ledger Nano S is to obtain and confirm the recovery phrase. This is the 24-word phrase you will need to gain access to your cryptocurrencies if you forget the pin to your Ledger Nano S or it is lost or breaks. Do not store this recovery phrase electronically. Store it somewhere safe and consider making multiple copies (for example store one copy in a home safe and one in a safe deposit box at a bank).
Find the sheet titled “My recovery phrase” that came with your Ledger Nano S box. Carefully record the 24-word recovery phrase word-by-word. Remember, some day you may depend on the 24-word recovery phrase recorded here to access your cryptocurrency investment.
Finish the Ledger Nano S setup by confirming your recovery phrase. This is an important step necessary to double-check that you had accurately recorded the recovery phrase.
Congratulations, your Ledger Nano S is now ready! You can start sending, receiving, and managing 24+ cryptocurrencies with your Ledger Nano S. Read our guide on how to transfer bitcoin to the Ledger Nano S to get started.