Just purchased Ledger

**Former Member 14** · 19 January 2020, 5:52 pm

Granted to convert crpyto to fiat, I'll need to keep coinjar.

They provide a ATM card, plus their bank wires are fast. Having a wallet to begin with was a good introduction to crypto. But now, I feel confident enough to remove the training-wheels per se. Not that I have a lot of coin, but I just don't feel comfortable with a 3'rd party holding my assets, especially given, they have my private-key, which I can't obtain.

That, and what happened Saturday:
https://www.dietistaktuellt.com/forum/btc-sent-...er-251369.html

Support desk opened at 8am today (3 hours ago), and I'm still awaiting a response, set to High Priority.

It's the net and sh#t happens,. However, this no TXID has happened a few times now - it should have be fixed the 1'st time.

Anyway, should have my Nano S in 4 - 6 days. Looking forward to that experience, and learning curve

If anyone has any tips, I'd appreciate hearing them, thanks!

**Sherlock** · 20 January 2020, 1:25 am

Good decision.
The most important thing is that now you understand that before you did not have the private keys (=the passwords for bitcoins), now you have them.
The security of the private keys depends on how much you are able to secure the 24 word seed. If you do not know now what it is, it will be the first thing you will work with after you connect the Ledger.

There are 2 contradictory issues that you need to solve:
1. You absolutely do not want to lose the seed. So you need to store the seed and at least 2 independent copies of the seed somewhere (like at home, at office and at your parents/kids etc). You must forget about writing the seed in digital way to your computer, phone etc, because viruses already seek for weird 24 words.

2. You do not want anyone else than you to see the seed (so the more at more places the copy is the more it can be compromised). So you should somehow obfuscate the seed.

Anyone who sees the seed has immediately access to coins. That is what you must remember.

+++++++++++++++++++

Hope you ordered the ledger from Ledger website and not from Amazon.

+++++++++++++++++++

Now (2020, 2021) should be interesting times to hold your coins and not to sell them. Your wallet is ideal for that. Forget coinjar.

+++++++++++++++++++

Once you set up the wallet, send there coins worth of few dollars. And try to send the coins in between your accounts..

+++++++++++++++++++

While sending coins, you can set up the fee. Ledger sometimes does funky things and puts the fee way too high. You can always manually edit the fee to 1 sat/byte and most of the times the transaction will be still fast. (You will see the txid immediatelly if fee is too low, just the transaction will not be confirmed; unlike at coinjar where they did not even try to send the money).

**Former Member 14** · 20 January 2020, 4:08 am

Originally Posted by Sherlock

Hope you ordered the ledger from Ledger website and not from Amazon.

Wouldn't that be like buying a Ferrari from Costco? Yes, I purchased it from Ledger.com

Thanks for the additional advice, and help too.

**Former Member 14** · 22 January 2020, 11:21 pm

DHL delivered it today. 3 days from France... wow that's fast!

Thread: Just purchased Ledger

LinkBack

Thread Tools

Search Thread

Display

Just purchased Ledger

The Following 3 Users Say Thank You to Sherlock For This Useful Post:

Posting Permissions