The Ledger hardware wallet is one of the most popular and trusted solutions for storing digital assets securely. This guide explains what a Ledger wallet is, how it works, how to set it up, and best practices for keeping your cryptocurrency safe.
A Ledger wallet is a hardware device designed to store private keys offline. By doing this, it protects your crypto from hacks, malware, and phishing attacks that commonly target online or software wallets. Ledger currently offers two main models:
Both devices use a secure element chip and Ledger’s proprietary operating system, BOLOS, to protect keys and validate transactions directly on the device.
Inside the box, you should find the Ledger device, USB cable, recovery sheets, and instructions. Ensure packaging is intact to confirm authenticity.
Download Ledger Live only from the official Ledger website. Install it on your computer or mobile. This app manages device setup, firmware, and crypto accounts.
When you power on the device, it will ask whether to set up a new wallet or restore one. Choose Set up new device for first-time use.
Select a secure PIN (4–8 digits). You’ll use this PIN to unlock your Ledger each time. If the wrong PIN is entered three times, the device resets.
The Ledger generates a 24-word recovery phrase. Write it down carefully on the recovery sheet. This phrase is the only backup of your wallet. Never share or digitize it.
The device will ask you to confirm some words from the phrase to ensure accuracy. Once verified, your Ledger is ready to use.
Each cryptocurrency requires its own app on the device. Use Ledger Live to install apps for the coins you plan to manage.
Ledger Live is the official companion app for managing your assets. It allows you to check balances, send and receive crypto, and update firmware. Core functions include:
Ledger Live shows a real-time view of your portfolio’s value, asset distribution, and transaction history across multiple accounts.
You can restore your wallet on a new Ledger device or any BIP39-compatible wallet using your 24-word recovery phrase.
Reset the device after three wrong attempts and restore it with your recovery phrase.
No one can access your funds without your recovery phrase. However, phishing and scams are common — stay vigilant and never reveal your phrase.
Ledger supports over 5,500 coins and tokens, including Bitcoin, Ethereum, ERC-20 tokens, stablecoins, and more. Ledger Live supports most natively, with others requiring third-party wallets.