VeChain Ledger Nano S Wallet Guide

Boxmining

30.2K views 456 6 years ago

Description

This is the complete guide on setting up your VeChain wallet on your Ledger Nano S. I go through each point step by step including how to update and install the app onto your Nano S, accessing your Ve...

This is the complete guide on setting up your VeChain wallet on your Ledger Nano S. I go through each point step by step including how to update and install the app onto your Nano S, accessing your VeChain wallet, sending and receiving VET, and additional cool features that the app has. 0:25 Setting up the VeChain app on your Ledger Nano S 1:32 Accessing your wallet - VeForge Vault 2:46 Sending and receiving VET 3:40 Additional Features - observe wallet and node upgrade 👍🏻Subscribe to Boxmining for Daily CryptoNews and Altcoin explainers: https://www.youtube.com/c/boxmining 👑Recommended Exchange - Binance: https://goo.gl/joe55C 🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b 📲Mobile Wallet: https://enjinwallet.io/ Brave Browser: https://brave.com/box831 #Bitcoin #Ethereum #Cryptocurrency #Crypto #Altcoins ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Telegram groups: Telegram Discussion Group: https://t.me/boxminingChannel Telegram Announcements: https://t.me/boxminingChannel ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● ♨️Social: Steemit: https://steemit.com/@boxmining Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video. ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

AI Analysis

Setting up and managing your VeChain (VET) cryptocurrency on a Ledger Nano S hardware wallet is straightforward, allowing for secure storage, sending, receiving, and even monitoring your holdings on the go. The process involves updating your Ledger's firmware, installing the VeChain application, accessing your wallet through a web interface, and utilizing advanced features like mobile observation and node upgrades.

Here’s a breakdown of how it all works:

* Getting the VeChain App on Your Ledger Nano S:
* You need to use the Ledger Live application on your computer (available for Mac, Windows, and Linux).
* Make sure your Ledger Nano S device is unlocked with your PIN.
* A crucial step is to ensure your Ledger Nano S firmware is updated to version 1.4.2 or newer. If it's an older version, the VeChain app won't appear in Ledger Live.
* Once your firmware is updated, search for "VeChain" in Ledger Live and click to install the application. It will then appear on your physical Ledger device.
* To enter the VeChain app on your Ledger, press both buttons on the device when the VeChain icon is highlighted.

* Accessing Your Wallet with VeForge Vault:
* After the app is loaded on your Ledger, you access your VeChain wallet through the web page `vault.vforge.com`.
* When you load the VeForge Vault page, it automatically detects your connected Ledger and displays your wallet addresses.
* It's important to understand the two main currencies in the VeChain ecosystem:
* VET (VeChain): This is the primary economic and store-of-value token.
* VTHOR (VTHO): This acts as the "gas" or fee token for transactions on the network. Every time you send VET or perform an action, you pay with VTHOR.
* A really cool feature is that holding VET automatically generates VTHOR for you over time. So, if you just hold your VeChain for a day or two, you'll slowly accumulate VTHOR without needing to buy it separately, which helps cover transaction costs.
* You can then choose which specific VeChain account (address) you want to view or use.

* Sending and Receiving VET/VTHOR:
* The process for sending and receiving is very intuitive.
* To send, select the account you want to send from, enter the recipient's address, and specify the amount (e.g., 100 VTHOR).
* Crucially, you must confirm the transaction details (like the amount and the VTHOR fee) directly on your Ledger device. This physical confirmation adds an essential layer of security.
* VeChain transactions are incredibly fast, often completing within a second or two, which is impressive.

* Advanced Features: Observe Wallet (Mobile Integration):
* An "Observe Wallet" feature lets you connect your Ledger's VeChain wallet to a mobile app (available on iOS and Android).
* This is super handy for checking your account balances and transaction history on the go, without needing to plug in your Ledger.
* It's also useful if you plan to upgrade your VeChain node (more on that next).
* To set it up:
* On `vault.vforge.com`, select the "Observe Wallet" option for the account you want to link. This will display a QR code.
* On your mobile phone, open the VeChain mobile app, go to "Manage Wallets," then "Import Wallet," and select "Observe Wallet."
* Use the app's scanner to scan the QR code displayed on your computer screen.
* An authorization code will appear on your phone; enter this code back into the web interface.
* You'll then be prompted to sign the authorization on your Ledger device.
* Finally, scan one more QR code on your phone to verify the signature, and your mobile observe wallet will be set up.

* Advanced Features: Node Upgrade:
* Once your wallet is observed on the mobile app, you can explore the "rewards" section.
* If you hold a sufficient amount of VET, you'll see the option to upgrade to a "strength node." This implies that holding certain quantities of VET can qualify you for different node types, potentially offering benefits within the VeChain ecosystem.

If you ever get stuck or have questions, the comment section is a good place to ask, and the VeChain Reddit community is known for being very helpful and strong.

Transcript

In this video, I'm going to show you guys how to set up your ledger and use the VeChain wallet. So by the end of this video, you'll be able to do the basic send, receive, VeChain. And also you're going to do some advanced stuff too, like set it up with your mobile wallet so you can observe your wallet. You can upgrade it if you have enough VeChain to one of the nodes. So the first step is you need to get the VeChain application on the device. So what you want to do is you want to load up Ledger...

In this video, I'm going to show you guys how to set up your ledger and use the VeChain wallet. So by the end of this video, you'll be able to do the basic send, receive, VeChain. And also you're going to do some advanced stuff too, like set it up with your mobile wallet so you can observe your wallet. You can upgrade it if you have enough VeChain to one of the nodes. So the first step is you need to get the VeChain application on the device. So what you want to do is you want to load up Ledger Live like I've loaded up over here. And also you want to unlock your device. So just enter your pin to unlock the device. If you don't have the Ledger Live app, there is a link to download it just down below. It works on Mac, Windows, and Linux. And then one thing you want to see is that if you have an old version like I have right here, and this is for displaying purposes, you won't find the VeChain app. So it's actually not here. So what you actually have to do is you actually have to update the firmware on your Ledger Nano S. So now you're going to see on Ledger Live, it's going to be Ledger firmware 1.4.2. Search it, VeChain. All right, just type VeChain there and you got it. So that's pretty easy. Click install the application and it should appear on your Ledger device over here. Click both buttons to go inside the app. Now, now that the app is loaded, how do you access your wallet? Well, it's going through this web page, which is vault.vforge.com. So once you load vault, it's going to say launch wallet, getting addresses, and now voila, you got your VVault wallet. Okay, now you're going to see all the currencies there. So quick explanation, VeChain is VET. So this is the kind of economic and the value store of value. And VTHOR, VTHO, is the gas on this network. This is used to power transactions. So every time you want to send something, you must pay with VTHOR. The cool stuff is that you automatically generate VTHOR if you store VeChain. So if you just send some VeChain and you leave it for a day or two, well, you're going to slowly accumulate VTHOR. Then we're just going to choose the first account over there. That's my address. I can just go on my phone and start sending myself some VeChain. Hello, is this Binance support? Give me CZ on a phone right now. What he's meeting the Queen? Tell him this is important. Get him to send me some VeChain, Thor, right this moment. Binance people, you really got to push him. I'll show you guys very quickly how the send and receive works. So I'm just going to send it to myself. So we have like five accounts here. I'm going to send it from this account, the 0x255, and to here, the 0x657. So I'm going to just copy that, send it, select the account which you want to send it from, the two address, punch that in. I'm going to send myself, let's say, maybe 100 VTH. All right. Press the send button. You don't have to wait for confirmation. So just go on your ledger and just confirm and check that here. So you can see the transaction is quite clear. You're sending away 100 VTH. There's a fee and that's in VTHO, 31.54 VTHO. Confirm. And voila, you're sent. You can open that in Explorer. Because VeChain transactions are very fast, it actually took literally a second for this to work. Now I'm going to teach you some of the advanced features as well. So the advanced feature I'm going to teach you is how to set up an Observe Wallet. So what is an Observe Wallet? An Observe Wallet is something on your mobile phone. So you can take it on the go with you and you can scan or check out what's happening on your accounts. And the reason why you want to do this is because, well, if you're a paranoid and you want to go check your account. The other reason why you want to do this is if you want to upgrade your note. So that's the app. I'm going to also put the link down on the comment section below. It's on both iOS and Android right now. So it's pretty convenient. Just download it and we'll pop it in here. So I'm going to observe the first account over here. Click that and then you're going to go and it's going to display a QR code on your screen. And on your phone, what you're going to do is you're going to go to manage wallets, import wallet, and then it says observe wallet over here. So on the observe wallet, you're just going to pretty easily use the scan button. It's going to be tiny actually. So the scan button is actually here. It's really tiny. But scan. And then just go to your screen and screenshot it. Ledger. Now it's going to display your authorization code. So click the next button here. You're going to see on your mobile phone, there's an authorization code. So for me, it's 009983. Click the next button. All right. Once you click the next button, you're going to have to click the on your ledger sign it. So I ask you to sign it on your ledger. Now you're going to be greeted with another QR code. So on your phone, go click the camera. Take a screenshot of that. Verify the signature. And voila, finally, you are ready. That is done. All right. So now that it's set, we got this VFO set up here. Now you can actually also upgrade. So if you just want to look at this and you click rewards. Now you can actually upgrade to a strength node if you have enough cryptocurrency there. So guys, I hope that teaches you guys how to use the VeChain wallet and all the steps and all the advanced features too. If you guys have any questions, if you're stuck at any point, feel free to come and just write on the comment section below. VeChain also has a very strong Reddit community. You can go there and ask some questions if you don't understand how to use it. Thank you guys so much for watching this video. I've got other guides up here. If you guys want to know how to update the firmware, if you guys want to know how to use the new ledger live video, they're going to be on the sidebars over here. Thank you guys so much for watching. Remember to share this video and I'll see you guys in the next one.