Install Neon Wallet on Ledger Nano S Guide (NEO Wallet)

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Description

How to setup Neon wallet (Best NEO wallet) on your Ledger Nano S and how to add custom tokens. You can add as many NEP-5 tokens as you want, including Ontology and Trinity. Check out my previous video...

AI Analysis

If you're looking to securely manage your NEO and its associated GAS, along with various NEP-5 tokens like Ontology and Trinity, this video is a fantastic guide. It walks you through the entire process of setting up the Neon Wallet with your Ledger Nano S, ensuring your private keys remain safely stored on your hardware device away from online threats. From installing the necessary app on your Ledger to downloading the official Neon Wallet and even adding custom tokens, it covers all the essential steps for a robust and secure crypto experience.

Here’s a detailed breakdown of how to get set up and manage your NEO with a Ledger Nano S:

* Why Use a Ledger Wallet for NEO?
* The primary reason to use a Ledger Nano S with your NEO is for enhanced security. Your private key, which grants access to your funds, is always stored directly inside the Ledger device.
* This setup means that hackers can't easily attack your funds remotely, as they would need physical access to your Ledger device to compromise your assets.
* It's important to remember that while the device offers strong security, the ultimate safety of your funds still depends on you properly securing the Ledger itself and following all official instructions.

* Installing the NEO App on Your Ledger Nano S
* First, you need to install the Ledger Manager, which is a Chrome extension. You can find the official link for this tool to download and install it onto your browser.
* Once installed, open the Ledger Manager app and connect your Ledger Nano S, then unlock it with your PIN.
* Inside the Ledger Manager interface, scroll down to find the "NEO" app. Click the download arrow next to it to install it onto your Ledger.
* Be aware that the NEO app takes up a bit of space on your Ledger. You might need to delete other coin apps if you're running low on storage, which is a common scenario for Ledger Nano S users with multiple assets.
* After installation, navigate to the NEO app on your Ledger Nano S device itself and press both buttons simultaneously to enter the app; your Ledger screen should then display "Wake up NEO."

* Downloading the Neon Wallet
* With the NEO app ready on your Ledger, the next step is to download the Neon Wallet. It's crucial to go to the official NEO.org website and find the download section to ensure you get a legitimate version of the wallet, as there are fake versions out there that could compromise your funds.
* The presenter downloaded the Windows version, but the process is similar for Mac users.
* You might encounter a warning from Windows Defender because the application is "unrecognized." If this happens, click "more information" and then "run anyway." This is a common occurrence for new applications and usually safe if you've downloaded it from the official source.

* Logging In and Using the Neon Wallet with Your Ledger
* Once the Neon Wallet is loaded, you'll see an option to "Log in using a Ledger." Click this button on the far right.
* If the wallet doesn't detect your Ledger, make sure no other applications are currently using your Ledger device. Close any other crypto wallets or Ledger-related software to ensure a direct connection.
* After connecting, the Neon Wallet will open, displaying your NEO and GAS balance. You'll see your receiving address, which you can use for both NEO and NEO Gas.
* The wallet allows you to easily send NEO, and a really cool feature is the ability to claim GAS. If you hold NEO, you passively generate GAS, and the wallet makes it incredibly simple to claim it every five minutes with a single click. Just hit the "Claim GAS" button and accept the transaction on your Ledger.

* Adding Custom Tokens (NEP-5 Tokens)
* The Neon Wallet supports adding custom NEP-5 tokens, which is great for managing assets like Trinity Network Token or Ontology that might not be natively displayed by default.
* This is considered a more advanced feature, but it's straightforward once you know how.
* You'll need the "script hash" for the specific token you want to add. This is essentially a unique identifier for the token on the NEO blockchain. The presenter provides links to find the script hashes for Trinity and Ontology, emphasizing the importance of finding correct hashes.
* In the Neon Wallet, you can use a shortcut like "participate in a token sale" or look for a "manage token" section. You'll find a field to input the script hash.
* Simply copy the token's script hash and paste it into the "Add new token" field. It will then appear on the bottom of the list.
* Crucially, after adding a new token's script hash, make sure you hit the "Save" button! If you don't save, the token won't show up. The presenter highlights this as a common mistake.

* Important Note on Sending NEO (Whole Units Only)
There's a critical characteristic of NEO transactions that you absolutely must remember: NEO can only be sent in whole units*.
This means you can send 1 NEO, 2 NEO, 5 NEO, but you cannot* send 0.5 NEO or any other decimal amount.
* If you attempt to send a decimal amount, the transaction will fail, and you risk losing your NEO. Always ensure you are sending full, whole units of NEO. This is a unique property of NEO compared to many other cryptocurrencies.

* Final Thoughts and Resources
* The presenter encourages users to read all instructions carefully and provides helpful links in the video description for further research on sending and managing NEO.
* They are keen to help, inviting questions in the comments section for potential future videos.
* Overall, the video provides a comprehensive and easy-to-follow guide for securing your NEO and related assets using the robust security of a Ledger Nano S.

Transcript

Hey everyone, in this video I'm going to teach you guys how to use NEO with your Ledger wallet. So this includes sending NEO, receiving NEO, claiming your GAS, and even adding custom tokens. So it will be a little bit advanced, but I'll teach you guys how exactly to use this step-by-step. In addition to this, the reason why you want to use Ledger wallet with NEO is the fact that, well, the private key is always stored inside the device, which means that hackers can't really attack it unless the...