🔐 Ledger Nano S Plus: Unboxing And Easiest Set Up Guide

Alright, this is the Ledger Nano S Plus and this video is a complete guide on how to set it up so you'll be safe and you can sleep knowing that all your cryptocurrencies are safe on the blockchain and you'll be like immune to hackers. And okay, I get what sometimes people say because like these devices look really stupid, right? They look like a USB from the 90s. And honestly, sometimes when you use it, it feels like that too. But why we make these videos and why we talk about this overall is that this thing just saved my ass multiple times. Now what we're gonna do is we're gonna teach you the best practices not only to use this device, but how to keep the cryptocurrency graphics keys safe. So not only do you understand how to use it, but you understand the reasons why we don't do specific things. Anyways, we'll teach you the best practices here. We got Natalie here. Wow, you're so scared, Nat. But yeah, but as we got Natalie here, and Natalie is gonna take you step by step on how to set it up and do it properly. Let's get started. First and foremost, make sure you're getting your Ledger from the official Ledger website. They deliver worldwide. Make sure you're not getting your Ledger from just some random website in case you buy a Ledger that's been compromised or set up by someone previously. Because this might expose your wallet to a higher risk of getting hacked and your assets getting stolen from your wallet. So today I'll be unboxing the Ledger Nano S Plus and inside this box there are three important things that you'll be using when setting up your Ledger or using your Ledger. So the first thing will be this wire that is used to connect your Ledger to your laptop or your computer. The second thing will be the secret recovery sheet in this orange envelope. And the third thing is, of course, your Ledger. So if you see that there's already been writing in any of these sheets or if you see that your Ledger's already been set up, this is a huge red flag and you should not use this Ledger anymore because there's a high chance that your Ledger is tempered or someone who has access to your Ledger. So before you start, you'll have to download Ledger Live, which is an app you need to use to set up your Ledger and to use your Ledger in the future. And I'll leave the link in the description down below so you can download it if you haven't done so. So once you've downloaded Ledger Live, you can open the app and press get started, read and accept the terms of services and click enter Ledger app. Select Nano S Plus. So click the first option, set up a new Nano S Plus and then read through these educational slides and then OK, I'm ready. And then now you can plug in your Nano S Plus. So a Ledger doesn't have a battery and it will only turn on when it's plugged into a computer. And there are two buttons on the Ledger that allows you to navigate through all the instructions. So now you have to set up a pin code that's four to eight digits long. So I understand that I must choose my pin and then set up pin code. So click the right button until you see set up as a new device and click both buttons to confirm. And now it's time to set up your four to eight digit pin. So click both buttons and you can navigate using the top two buttons. So I'll just set my pin at zero. Just press both buttons to confirm. Zero, zero, zero. And then it doesn't have to be eight digits. You can confirm when it's four digits. And then you need to confirm your pin again on the Ledger. And once you've confirmed your pin, you'll see on your screen, write down your recovery phase. So here comes the most important part to setting up your Ledger and it is to write down your recovery phase. And on the Ledger Live app, you can press I understand and then recovery phrase. And then they'll tell you to take out your recovery sheet and then next step. So now it's time to write down your secret recovery phrase. You can take out one of the sheets from this orange envelope to write down your secret recovery phrase. And press both buttons. And press the right button until you see word one. The first word is frozen and you can just write it down next to the correct number right here. So you basically press the right button to go through every word and write down the correct word on the correct number on your secret recovery sheet. So after writing out each word, you can either press both buttons to confirm that you've already written down all the words or scroll back by pressing the left button to check if you've gotten the right words down. So after confirming by pressing both buttons, Ledger will ask you to go back to confirm each word to make sure you made no mistakes. So after you've confirmed your 24 words, press both buttons and you'll see the screen which says your recovery phrase is now set. Keep it in a secure place and press the right button until you see press both buttons to continue and your Ledger is now ready to be used. So the whole advantage of a hardware wallet is that it keeps your keys offline. So make sure you're not having screenshots of receipt phrase or writing it down on an iPhone notepad because this defeats the whole purpose of having a hardware wallet. So now you can press I'm done and get started and Ledger Live will ask you to take quiz, which is the first time. Quiz, which is three simple questions. So after you ace your quiz, you can go next step and Ledger Live app will check if your Ledger is genuine. So check my Nano. So once that's done and your seat face is securely stored, you can start using Ledger Live to send some crypto into your Ledger. Now make sure your Ledger is plugged into your computer and then you can scroll down to my Ledger and you'll have to allow a secure connection with Ledger and confirm it on your Ledger. And on my Ledger, you'll see an app catalog. This app catalog basically consists of many different coins and tokens. And all you have to do is install the app to whichever coin you want to put into your Ledger. So for example, I want to put some Bitcoin. You'll press install and it's pretty quick to install. So it's as simple as that. Now that BTC and ETH is downloaded, I can transfer some BTC and ETH into my Ledger. If you want other coins installed into your Ledger as well, you can also search app in catalog. So for example, if I want some Litecoin, I can search LTC and you can easily install it onto your Ledger. So the Nano S plus actually has quite a lot of storage. So you can go ahead and download all of the blockchains that you want to use. And now that you've finished adding all the coins, you can start adding accounts for, for example, Bitcoin. Only certain tokens or coins allows you to have multiple accounts. So you have to double check and having multiple accounts basically means that you have multiple wallet addresses for the certain token or coin. So for example, you'll see that I have two Bitcoin accounts here. I can also add another account here. So if I want to add an ETH account, I say continue. And you also have to make sure that your Ledger is unlocked. And once it's done synchronizing, you can add account and done. And see, you'll have an Ethereum account here. So once you've finished adding your desired coins or tokens, your Ledger is ready to receive some money. So now just go back to your Ledger Life app. Go to receive. And for example, if I want to receive some ETH, I'll just press Ethereum and continue. And once you approve it on your Ledger, you'll see your wallet address for your ETH here. You just simply copy it. And then for example, if I want to send some ETH from my MetaMask, I just go to my wallet. I'll press send and then I'll paste my wallet address here. You can just input the amount you want to send to your Ledger and as well check the gas fee. And you'll have to also verify your address on your Ledger. Just press right until you see approve and press both the buttons. And you'll see that the address is shared securely and you can just press done. So another feature that I really like about the Ledger Life app is Ledger Portfolio. Because it shows you a really good overview of the assets that you have and the transactions that you have gone through. So you can just go over to your portfolio and you can see all of the assets you have on your account. However, one problem I think there is with Ledger Life is that if you're using DeFi and if you're lending out some Ethereum or USDT, because your assets are actually locked up in the DeFi protocol, it's not going to count it in your Ledger portfolio. And therefore you can't see it on the Ledger Life app. And you basically can't see what your total balance is. The portfolio section only shows you the assets that you have in your Ledger device and not on DeFi. So it can be quite frustrating sometimes. So if you read the news recently, you'll know that some Ledger users are very concerned with the new service that Ledger is pushing out called Ledger Recovery. So this has basically caused the community and Ledger users to be very upset because this means that Ledger products may not be as safe as we originally thought it would be. So basically, if you choose to use this recovery service, you'll be giving your seed phrase to Ledger for them to back it up. So this potentially means that they would have access to your funds. Because Ledger has always said that our private keys, the keys that holds all of our cryptocurrencies, will never leave this device. But I do want to clarify that this subscription service is only available for Ledger Nano X and has not been rolled out yet. So other Ledger such as Ledger Nano S Plus is still safe to use. So if you're a Ledger Nano X user and you don't feel safe with this new recovery service, you can either move all of your tokens to a Ledger Nano S or move your Bitcoin and ETH to other hardware wallets such as the Trezor. So for me personally, I think I'm going to switch to this Ledger Nano S Plus because Ledger still has a huge advantage over other hardware wallets. And it is that there are a lot more coins available on the Ledger. There are more than 5000 coins available on the Ledger while there are only around 1.4K coins on a Trezor. So if you have a big bag of altcoins and want to store it in a cold wallet, it might still be easier for you to keep using a Ledger. So that's it for today's video. Thank you for watching. I hope you found this tutorial very helpful. And I would also like to thank our sponsor for today, Bybit. If you haven't signed up for Bybit, you can sign up with our link down below and you can get up to 30,000 in rewards. We have also done other tutorials on hardware wallets. So do check it out if you're interested. And don't forget to like, share and comment down below if you have any other questions for us. And subscribe to the channel if you haven't already. And until next time, bye!