The Ledger Nano X is a secure Bluetooth device for storing private keys for accessing a cryptocurrency wallet. In this case, asset management takes place using the proprietary Ledger Live application for iOS and Android devices or using the Guarda service, which helps to buy or exchange cryptocurrencies at a favorable rate.
Benefits of a Hardware Wallet
The Nano wallet Ledger device belongs to the class of highly secure hardware wallets with strong key encryption and excellent protection of your cryptocurrency assets. At the moment, this is the most secure way to store digital money since only the owner has access to it. Funds cannot be hacked, debited, or sent by mistake without your confirmation. At the same time, a hardware wallet is quite easy to manage using the Guarda service.
To communicate with the service, the Ledger uses a two-chip setup: the first one stores sensitive data, while the second serves as a bridge between the PC or mobile device and the Secure Element.
Managing Your Ledger Nano X Hardware Wallet with Guarda
Working in conjunction with the Guarda service, the Ledger wallet provides all the opportunities for efficient and convenient cryptocurrency management. It is possible to buy, exchange, and view the balance and history in real-time. Guarda services are not related to the storage of cryptocurrencies – you retain full control over your assets using a hardware wallet, which is the most secure scenario for interacting with your digital money.
How to Set up the Ledger Nano X Cryptocurrency Hardware Wallet?
After turning on the Ledger Nano X device, the company logo should be displayed and an offer to create your unique cryptocurrency wallet. If the device asks for a pin code instead, you should return it to the seller – most likely, it is a used device that cannot guarantee the proper level of security.
Immediately after connecting, you need to follow this path:
- Simultaneously press both buttons on the device.
- Create a pin code (4 to 8 characters). Write it down somewhere or memorize it.
- Create a recovery phrase. Be sure to write down the phrase too since this is the only way to restore access to the wallet. If it is lost, your assets will forever remain on the blockchain.
- Save every word of a Seed Phrase by pressing two keys at the same time.
At the end of the setup, the message “Your Device Is Ready” will appear on the display. This means that you can start using your cryptocurrency safely.
Then, you have to connect Ledger to Guarda. To do this, you need to open Guarda Wallet in a browser that supports two-factor authentication. It can be Chrome, Mozilla Firefox, or Opera.
Go to your wallet, find the Ledger menu in the advanced settings, first connect the Ledger device to the PC via USB port, and then click “Connect” in this menu. You will see a list of crypto coins that the service supports. Select the same type of currency that you store in your hardware wallet. After that, a connection will occur, and you will be able to perform trade and exchange operations on the blockchain using your assets.
At the same time, private keys remain on your device and are not copied to the service. Guarda, in this case, is only a convenient interface for effective interaction with your funds.