In the world of cryptocurrencies there are many risks. While there are crypto wallets for Android, they are not the most reliable. Physical wallets are the safest way to store your digital coins and in this article we will talk about one of the best options, Ledger.
What is a Ledger crypto wallet?
Ledger wallets They are like physical USB keys that allow you to store your crypto in hardware. Ledger emerged in 2014 with the union of 8 experts in integrated security and cryptocurrencies.
Ledger’s physical wallets are multi-currency, this means that they allow you to store different types of cryptocurrencies. These devices use secure mechanisms to store your private keys.
With these wallets, computer hackers will not be able to access your passwords as does the virus that circulates through Telegram and steals your cryptos. However, you should be vigilant and use genuine apps, not fake apps looking to steal your digital assets.
How do Ledger crypto wallets work?
Performing transactions using cryptocurrencies requires the use of cryptographic keys, these passwords are usually stored online and are vulnerable to theft. What hardware wallets store information offline they are the safest way to store your cryptos.
Ledger physical wallets allow the sending and receiving of cryptos with blockchain and the execution of applications to use it as a two-step authenticator on sites such as Google, Facebook or Dropbox.
Ledger devices are secure and have an operating system to protect your digital assets. In case your physical wallet is stolen or damaged you can regain access to your cryptos through the 24 security words they provide you.
How to send and receive crypto on Ledger wallets
To send or receive crypto on a device from this company you must first start and configure the hardware, then you need to install the Ledger Manager app. Once this is done, download Ledger Bitcoin Wallet, Ledger Ethereum Wallet or the cryptocurrency app you want to send or receive.
Steps to follow to receive cryptocurrencies in a Ledger wallet
To receive a cryptocurrency, you must first give your wallet address to the person who will send it to you. Your Ledger device does not need to be connected to the computer because the transaction is carried out through the blockchain, when you connect the device you will see all the operations you have carried out and the balance you have available. To know the address of your wallet you must do the following:
- Connect the Ledger hardware with your computer.
- Enter your PIN code.
- Open the application in your Ledger wallet of the cryptocurrency that you will receive.
- Launch the same cryptocurrency app on your computer browser.
- Select “Receive”.
- Your address will appear in the pop-up window that opened.
- Copy it and send it to the person who will make the payment.
It is important that you take into account that Ledger wallets generate a new address every time you go to receive a payment.
Steps to follow to send crypto from a Ledger device to another wallet
Sending money from Ledger wallets to other wallets is easy, you just have to follow these steps:
- Connect your Ledger device to your computer.
- Enter the PIN code.
- Open the application in the Ledger wallet of the cryptocurrency you are going to send.
- Launch the application of the same cryptocurrency in the browser of your computer.
- Select “Send”.
- Fill in the data with the receiver’s address and the amount.
- Check that the data is correct and mark send.
- To confirm the operation you must press the right button of the Ledger wallet, then you will get the message “Validated”.
Once this is done your money has been sent and if the data is correct, the receiver will have already received the cryptocurrencies in his wallet.
If you had doubts regarding physical devices to store cryptocurrencies, we hope we have solved them. If you have not yet bought digital currencies, you should know this application to invest in cryptocurrencies from your mobile.