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  • Buying Cryptocurrency Using Ledger Live: A Step-by-Step Guide

    Buying Cryptocurrency Using Ledger Live: A Step-by-Step Guide

    Ledger, the makers of the Ledger Nano S and Ledger Nano X has announced that their application, Ledger Live now supports buying cryptocurrencies with credit card or bank transfer. This feature is operated with their partners, Coinify, MoonPay, BTC Direct and Wyre, and now users can directly go onto Ledger Live to buy their cryptocurrencies and have them sent to the safety of their Ledger device. No more having to go through extra steps such as buying cryptocurrencies on exchanges and then sending it to your hardware wallet for safekeeping! In this guide, we give you step-by-step instructions on how to buy cryptocurrencies using Ledger Live on your Nano S and Nano X.

    Available Cryptocurrencies

    Thanks to several crypto platform partners, Ledger Live now offers for purchase more than 40 different cryptocurrencies from the top 50 market cap projects.

    Although the available range of cryptocurrencies is quite wide, users who would like to buy other cryptos supported by their Nano S will have to buy them elsewhere, such as cryptocurrency exchanges.

    To see which cryptocurrency exchanges we think are the best, check out our article on the Top Best Cryptocurrency Exchanges of 2020.

    How to Buy Cryptocurrencies Using Ledger Live

    If you are a new Nano X or Nano S user, you would need to set up your device first and install the Ledger Live software. See here for our Ledger Nano S setup guide and Ledger Nano X setup guide.

    To get started with buying cryptocurrencies using your Nano S or Nano X, open up the Ledger Live application on your PC and go to “Buy crypto” on the sidebar. Choose which cryptocurrency you wish to buy. You can choose from 40+ different coins, including BTC (Bitcoin) and ETH (Ethereum). For the purpose of this guide, we will be demonstrating buying Bitcoin through one of Ledger Live’s partners, Coinify, but purchases using other partner platforms should work in the same way. Choose Bitcoin as the crypto asset we wish to buy. Then choose which account you want your cryptocurrency to be deposited to. Alternatively, you can add a new account for your cryptocurrency purchases- see our section titled “How to add new account for cryptocurrency purchases“.

    Buy crypto
    Click “Buy crypto” on the sidebar

    On Ledger Live, you would be asked to either sign up or log in to your Coinify account. For a tutorial on how to set up a Coinify account, see our section titled “How to register a Coinify account on Ledger Live“.

    Login or set up a Coinify account
    Login or set up a Coinify account

    You will then be asked to select the amount of cryptocurrency you wish to buy, the payment currency and payment method. Ledger allows you to pay in the following currencies: AUD, BGN, CAD, CHF, DKK, EUR, GBP, HKD, HRK, HUF, INR, JPY, NOK, NZD, PLN, SEK, TRY, USD and VND. You can pay for your cryptocurrency using credit card (Visa or Mastercard) or for European locations, bank transfer via. SEPA.

    Buy crypto
    Select your cryptocurrency purchase and confirm the transaction.

    Because cryptocurrency prices do fluctuate, Ledger will lock in your purchase price and give you 15 minutes to complete the purchase. Enter your credit card details, double check your purchase details and click “Pay”. Your purchased cryptocurrency will be automatically deposited into your designated account on your Ledger device.

    Complete payment
    Complete payment

    How to Register a Coinify Account on Ledger Live

    For those who don’t have a Coinify account or are buying cryptocurrencies for the first time on Ledger Live, you will need to go through Coinify’s Know Your Customer (KYC) process and set up an account. On Ledger Live, enter your email and choose a password, then click “Create account”. You will then be asked to answer a few KYC questions.

    Create a Coinify account
    Create a Coinify account

    Confirm your email (Coinify will send you a confirmation email) and location.

    Confirm email and location
    Confirm your email and location

    Provide information on your residential address and how you plan to use your account.

    Provide residential address and account usage
    Provide residential address and account usage

    You will also be asked to verify your identity by providing a photograph of your ID Card/ passport and to scan your face similar to setting up FaceID on your iPhone.

    Verify your identity
    Verify your identity

    Afterwards Coinify will automatically process your registration which takes around 2 minutes. Then you are all set!

    Registration processing
    Coinify will process your registration within 2 minutes

    How to Add a New Account for Cryptocurrency Purchases

    To add an account, click “+ Add account” as shown in the above image. Then choose which crypto asset account you wish to add. For the purpose of this guide, I will be showing you how to add a Bitcoin account, so I choose Bitcoin as the asset and clicked “Continue”. (Xanax) When asked, connect your Ledger device to your PC and unlock it. Then go to the corresponding app for the cryptocurrency you want to buy on the device, your device will say “Application is ready” whilst it synchronises with Ledger Live on your PC.

    Once synchronised, you will be given options on which new account you wish to add. Choose the account(s) to add then click “Add account”. Your new account will then be added and you can then choose to either add more accounts or close the window to finish.

    How to Purchase Cryptocurrencies on Ledger Live with Other Partners

    In addition to Coinify, Ledger Live now also supports buying crypto through partners like Wyre (available only in the US), MoonPay, and BTC Direct. All of these alternative purchasing platforms are KYC (Know Your Customer) compliant, which means for anyone wanting to purchase crypto through them, they will have to provide personal information such as email, full name, address, phone number, and personal ID (driver’s license or passport). However, once that is done and an account has been created for any of these platforms, the purchase and selling of cryptocurrencies within your Ledger Live app should be quick and seamless in very much the same way as the purchase of coins through Coinify.

    User Experience and Conclusion

    We’ve tried out a lot of cryptocurrency hardware wallets and Ledger’s devices are definitely our preferred choice. This preference is definitely solidified by the fact that we can now purchase cryptocurrencies on Ledger Live because it means we no longer have to buy cryptocurrencies on exchanges, especially when most exchanges require you to go through KYC procedures if purchasing crypto for the first time.

    So whilst you do also have to go through KYC procedures when buying with Ledger Live for the first time which is a bit trouble, the whole process only took around 5 minutes to complete. And at the end of the day it is worthwhile to buy cryptocurrencies using Ledger Live in the long run because your cryptocurrency is sent directly to your device which is a relatively safer storage device.

    Many may use multiple exchanges and even skip from one exchange to another but at the end of the day your hardware wallet is where most of your cryptocurrency should be stored anyway. Therefore we highly recommend trying this feature out and whilst there are only 4 cryptocurrencies available to purchase, it is generally sufficient as a start to trading on exchanges and we hope and expect that Ledger may add more coins in the future.

    Note: Until 8th Aug 2022, Ledger is offering 10% off the Ledger Nano X and Ledger Nano S Plus when entering the code MOVESOL2LEDGER at checkout.

    Click below to BUY NOW!

  • Ledger Nano S Guide: How to Properly Set Up Your Device

    Ledger Nano S Guide: How to Properly Set Up Your Device

    This setup guide helps you set up your new Ledger Nano S hardware wallet. It will teach you how to backup your wallet and install apps so you can access your cryptocurrencies with it. You can read our full Ledger Nano S review here.

    The wallet is one of the most advanced cryptocurrency wallets in the market today. It supports over 1800 cryptocurrencies. The Ledger Nano S also offers better support, compact design, mobility, and security for your crypto-assets. The device retails for USD 59 or you can save 27% when buying a family pack of 3 for USD 129. Important to note that Ledger plans on discontinuing the Nano S sometime during 2022 once they’ve sold the last 10,000 Final Edition units.

    Ledger Nano S Unboxing

    You can also follow our step-by-step video setup guide here.

    Ledger Nano S – Setup and Guide

    The first step when you receive your hardware from the store is to check if the box is correctly sealed. If the box is not sealed correctly, return it to the store because there is a high chance that the wallet has been tampered with.

    Check that the box is sealed
    Check that the box is sealed

    After verifying that the seal is intact then unbox your device and confirm that all the contents are there. The contents in the box should include:

    1. Ledger Nano S device;
    2. Blank sheet to write down your recovery phrase;
    3. USB cable to allow you to connect it to the computer;
    4. Setup guide manual that contains instructions on how to install and use your device; and
    5. Keyring and lanyard to take your device on the go.
    Inside the Ledger Nano S box
    Inside the Ledger Nano S box

    Verify that the 24-word recovery phrase card is blank. This 24-word recovery phrase allows access to your private and public key details in case your login details have been lost. If it is already pre-determined, it means that your device has been tampered with.

    Setting up the Ledger Nano S

    Connect the device to your computer using the USB cable included.

    A welcome screen immediately flashes up your device and prompts you to press the two buttons on top to begin.

    It will then ask “Configure as a new device?”. Click:
    – “x” to restore an old device using your recovery phrase; or
    – “✓” to set up a new device.

    Choose "✓" to set up a new device
    Choose “✓” to set up a new device

    Setting the PIN Code and Recovery Phrase

    Setting the PIN Code

    The device will ask you to set a new PIN code. In future, this is what you will enter to access your device.

    Input your chosen 4 to 8 digit PIN code by pressing the buttons on either side to choose the digit, then pressing both buttons together to confirm. Re-enter your PIN code to confirm and conclude the PIN code setup process.

    Set your PIN code
    Set your PIN code

    Setting the Recovery Phrase

    You now need to set a recovery phrase that you will use to restore your wallet on another physical device.

    Press the 2 buttons of your Ledger Nano S device simultaneously to start.

    The device will start displaying the 24 words that make up your recovery phrase one by one. Press both buttons simultaneously to move onto the next word. Write them down in order on the blank recovery sheet provided.

    DO NOT take a photo of your recovery words or write them down on your computer- keep it locked away. This is because anyone with your recovery phrase will be able to restore your account on another Ledger device and steal your funds.

    Afterwards, the device will prompt you to confirm your 24-word recovery phrase by asking you to input some of the words. Do this to complete the recovery phrase setup.

    Write down your 24 word recovery phrase then confirm it as prompted
    Write down your 24-word recovery phrase then confirm it as prompted

    Your device is now set up and ready to use!

    Ledger Live Application Setup

    Keep your device connected to your computer. You need to download and install the Ledger Live app to your computer.

    Open the Ledger Live app and select: “Initialize as new device.” Click “Ledger Nano S” and follow the instructions that check whether you have installed your hardware wallet correctly. You will then be asked to setup a Ledger Live password.

    Ledger live app
    Ledger live app

    To use the device with a particular cryptocurrency, you will need to download the corresponding app on Ledger Live.

    Afterwards, the Ledger Live app will ask you to install apps or add accounts. Select “Open Manager” which will allow you to install or uninstall apps.

    For example, to use Bitcoin with your device, select “Open Manager”, find “Bitcoin” in the app catalog and simply click “install”. You will now see the Bitcoin app on your device.

    Installing apps onto your device.
    Installing apps onto your device

    The Ledger Nano S only supports between 3 to 11 apps after its 1.6 firmware upgrade. So if you want to use your device with more than 3 cryptocurrencies, you might find it difficult to fit all of the different apps onto your device in which case you will have to uninstall some apps to make room.

    You will not lose your cryptocurrencies if you uninstall the corresponding app. But of course installing/uninstalling apps to use your device is seriously troublesome.

    Your Ledger Nano S is now ready to use!

    Ledger Nano S setup guide: Conclusion

    The Ledger Nano S is relatively easy to set up. The instructions are very clear and intuitive.

    Again, ensure that your PIN code and recovery phrase is kept offline and secure. Others can access your funds using your PIN code or restoring your device using the recovery phrase.

    The Ledger Nano S is limited to between 3 and 11 apps, depending on the individual app sizes for specific coins. If you have or intend to use more than that amount of cryptocurrencies regularly, you may have to use multiple devices. Or consider getting a Ledger Nano X? Check out our Ledger Nano X review to learn more.

  • FIX Ledger Nano Compatibility problems with latest Windows 10 1903

    FIX Ledger Nano Compatibility problems with latest Windows 10 1903

    Update: Official Ledger response to this issue.

    The new Windows 10 May 2019 update adds new security features that break certain browser (Chrome, Brave and Edge) based dapps for Ledger Nano S (and Nano X). This is the latest “big” update that is part of Microsoft’s plan to add additional functionality and security to Windows 10. Currently the update has already been scheduled for public release, although it is not mandatory. A new pop-up will display when connecting to the hardware wallet labeled “Windows Security“.

    New Windows Security Prompt to interact with Ledger Nano S

    This prompt is not present in previous versions of Windows 10 and is a new feature that is meant to prove hardware security. Unfortunately some websites like MyEtherWallet, MyCrypto and IDEX will have certain delay issues when unlocking the wallet.

    Unlock Device error: UNKNOWN_ERROR (0x6804)

    Fixing Ledger Nano issues on Windows 10 1903 Update:

    To fix comparability issues between Ledger Nano (S or X) and Windows 10, try the following:

    • Install Latest Ledger Live
    • Update to the Latest Ledger Nano Firmware
    • Do not click or interact with the pop-window.

    This is not an issue with hardware wallet itself but rather an interaction issue with various websites. These websites need to be updated to reflect changes with hardware security in Windows 10. As of now, there are no known methods to disable new security features in Windows 10. Please refer to the official response from Ledger on this compatibility issue.

    Ledger Live is Unaffected

    Ledger Live App’s operation is not affected by the new security changes. Currently asset management and Leger Manager operations are fully functional as of this update. It seems that the new security changes only affect the web based applications.