Why a hardware wallet?
Hardware wallets store private keys off-line. They protect against phishing, device malware, and remote compromise by isolating signing from your internet-connected computer.
1
Key takeaway: Ownership means control — if you control the seed and PIN, you control the funds.
2
Threat model: Device theft, phishing sites, supply-chain tampering. Setup mitigations reduce these risks.
Before you begin
Prepare a clean, private workspace; use your own computer and the official Ledger.com/start link (verify URL carefully). Avoid public Wi‑Fi and shared devices during setup.
3
Checklist: Original Ledger box, official USB cable, pen/paper for recovery phrase (do not photograph it).
4
Tip: Never enter your recovery phrase into a website or store it digitally.
Step-by-step: Device initialization
Follow Ledger.com/start and Ledger Live app instructions. The high-level steps below match the official process but read the on-device prompts carefully.
5
Power & connect: Turn on the device and connect to your computer with the supplied cable.
6
Create a PIN: Choose a strong PIN you can remember but no one else knows. This prevents use if the device is stolen.
7
Write your recovery phrase: Ledger will display a 24-word seed phrase. Write it physically — twice — and store it separately in two secure locations.
Verify and validate
After initialization, the device will ask you to confirm several words of the recovery phrase. This ensures the phrase was recorded accurately.
8
Firmware: Run a firmware update only if prompted by the official Ledger Live app. Verify firmware signatures via the app when available.
9
Address check: Always verify receive addresses directly on the hardware display before sharing them or accepting funds.
Ledger Live & apps
Use the official Ledger Live desktop or mobile app (download only from ledger.com). Install only the coin apps you need — each app isolates keys for a specific blockchain family.
10
Connect securely: When connecting Ledger Live, the software will request permission to access the device. Confirm requests on-device.
11
Software hygiene: Keep Ledger Live up to date and avoid third-party wallet apps unless you understand the security tradeoffs.
Recovery phrase safety
The 24-word recovery phrase is the single point of failure. If someone obtains it, they can recreate your wallet.
12
Physical backups: Use metal plates or fire-resistant storage for long-term resilience.
13
Shamir or multi-sig: For high-value storage, consider splitting the seed with Shamir Backup or using multi-signature schemes across multiple devices.
Operational security (OpSec)
Adopt routines that minimize exposure: don't reuse the same address for sensitive transactions, rotate device PINs occasionally, and verify transactions on-device every time.
14
Phishing defense: Always type ledger.com into your browser, and rely on bookmarks for critical links. Never follow unsolicited links.
Lost, stolen or damaged device
If your Ledger device is lost or damaged, obtain a new device and restore the wallet using your recovery phrase on the new hardware only.
15
Do not restore on unknown devices: Only restore on a trusted, official hardware wallet to avoid exposing the seed.
Final checklist & best practices
- Download Ledger Live from ledger.com only.
- Record 24-word seed physically, no photos or cloud copies.
- Verify addresses on-device before sending/receiving.
- Use strong PINs and consider passphrase protection (advanced).
- Keep firmware and app software current.
- Consider multi-sig for significant holdings.
This presentation (~900 words) is intended as a clear, non-exhaustive guide — always consult official Ledger documentation at ledger.com/start for the latest instructions and security notices.