Get started in crypto with Ledger Nano S+
Explore the world of crypto with the best gear in the industry. Here's how to get started with Ledger Nano S+
Kia ora! Welcome to the start of a journey into the future of digital money!
Believe it or not, you’re about to set up your own “bank” and have true ownership of your wealth in cryptocurrency. Therefore, it’s important that you follow this guide correctly.
The tool that you’ll be using is the Ledger wallet, a piece of hardware that allows you to store hundreds of different variants of cryptocurrency, from the famous Bitcoin to your favourite meme-coins.
What you will need
You’ll need a valid driver’s license or passport. These are required to sign up and verify with Easy Crypto. Why buy your first cryptocurrencies with Easy Crypto? Well, it’s because we make it quick and easy!
Set up your Easy Crypto account in just 3 clicks! Go to our homepage, click on Sign up, and choose to sign up with your Google, Facebook, or Twitter account.
You can also sign up with your preferred email provider.
Verify your Easy Crypto account
Following our Know Your Customer requirements, we need you to verify your account with your ID. It will take just a few minutes.
Right after your account has been created, go to My Account > Account > Verify to go to the verification page. You’ll only need to do this once if you buy, or sell in small amounts. Another level is required if you want to sell large volumes of crypto.
Fill out all details and fields until you reach automated verification. We recommend that you click on Automated verification for the best verification experience.
Automated verification takes a few minutes and will require you to have a valid driver’s license or passport with you.
Setting up your Ledger Nano S+
You should now be about 10 minutes into your true crypto experience. Keep up the momentum, because you’re now going to set up your Ledger Nano S+. Follow these steps thoroughly:
- Download Ledger Live for your desktop.
2. Open Ledger Live on your computer and plug your Ledger device into your computer with the provided USB-C cable.
3. The Ledger Live app will provide interactive setup instructions. You can find more specific questions here, or use the video tutorial guide found below.
Securing your Ledger wallet (important)
The ethos of cryptocurrency is that you privately own and manage your own crypto assets, with no one else having any access or ability to control or confiscate your assets. With this comes some personal security and care with password management.
Throughout the setup process of your Ledger device, you would have had to write down a 24-word recovery phrase. This recovery phrase is a master key to access your wallets held within your Ledger device and is the only way to access your wallet with crypto stored inside if anything was to go wrong.
This also means anyone that has access or can find that 24-word recovery phrase, can also access your funds. Think of it as an emergency master key, something that you keep hidden and only use when necessary.
It’s highly recommended that you have more than one copy in a separate secure location. If an unexpected event occurred that caused the loss of your recovery phrase and access to your wallet, there would be no possibility of accessing the funds ever again.
Popular news stories have emerged over time with individuals that have not safely backed up their 24-word seed phrase and consequently lost access to their assets stored in their wallets. The story linked above is over $200m worth of assets that the individual can’t access. Had these individuals had their 24-word recovery phrase, complete access to their funds would be possible, without the recovery phrase, it’s practically impossible.
Don’t overlook this, take a few minutes to decide where you will store your words.
Making your first cryptocurrency purchase
Now that you have your Easy Crypto account and Ledger hardware wallet setup, it’s time to make your first cryptocurrency purchase. There are three steps to this:
- Choose where you want to send the crypto to (ideally, your own wallet address — more below).
- Choose your payment method.
- Review your order and make the payment.
What is a delivery address?
Each crypto wallet has a unique address, which is similar to a bank account number. Use this address to receive cryptocurrency from someone else. In this case you want Easy Crypto to deliver crypto your Ledger wallet address.
Here’s where you need to pay extra attention. Unlike many wallets, your Ledger wallet can store multiple variants of crypto. Each variant of crypto has their own wallet address. So please make sure, if you are buying Bitcoin for instance, you should check that Bitcoin will be delivered to your Bitcoin address.
In other words, you cannot use, for example, your Ethereum address to receive Bitcoin, even if it’s all entering the same wallet — your Ledger Nano S+. You can use this guide to find the receiving address from your Ledger device.
Here’s a video tutorial from our YouTube channel that will take you through the process of using Easy Crypto to buy cryptocurrency.
Pay and wait for crypto to be delivered to you
Finally, after you’ve completed your payment, you simply need to wait for your crypto to arrive. The duration of delivery can vary, depending on which crypto that you bought. Some crypto networks just work faster than others. To confirm that your crypto has arrived inside your Ledger wallet, simply check that the balance has been updated.
Congratulations, you’ve just owned some decentralised money, which you own and not anybody else! Let us know if you have any questions — please do drop a message with this link if you do.
Also, don’t forget to subscribe to our monthly newsletter to have the latest crypto insights, news, and updates delivered to our inbox.
Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated August 30, 2022