LEDGER NANO S Explanation & Method of use (Ledger Wallet)

Hello,

I'm Ikhee Shin who is a user of NANO S (korean user)

This is the first time I take part of this forum.

It seems like many of you have been managing the safety of assets from being hacked in different ways.

I would like to explain to all the participants on how to use NANOS, which is a safe method and process to create a safe way to protect assets from being hacked. I will provide a brief and user-friendly posting which beginners that are not accustom to using the process can easily follow the procedure I provide below. However, I will skip the explanation on how to order the application.

Creating the first wallet

a. It's all about the input when you simultaneously press both buttons on the top. You can set up 8characters as your password.

b. Write down 1~24words on the enclosed paper.

c. You have to find them on the paper you have created and then reenter what you found.
ex. Select word#22 -> Find the 22nd word on the written paper and then reenter it.

d. You can use it after selecting Bitcoin, Ethereum.

• The 24 words should not be shown to anyone and should not be lost because it's impossible to recover these 24 words. If users purchase, the same NANOS and recover, they can use the copied one. It would be advisable to keep it safe.

How to access to Ethereum
a. Search ledger and implement it on chrome web store.

(In case you have no idea, website of ledger wallet -> APPS-> you can implement or install the application you want)

b. Implementation of application
c. When you enter your password after connecting to NANOS, another window will pop up.

d. Copy the address when you deposit and when you withdraw, Fill in only two options (quantity, address) and then 'SEND'.

How to recover

You have to know the 24 characters of the password.
In case of ledger nanos, it doesn't have the same function as a usb memory but now that its a chip, it has the same function with the ic one of the credit card. The chance of getting hacked is close to impossible. Furthermore, even if you connect to a PC with a lack of security, it's impossible that malicious code infiltrates to your wallet and take your private key.

Additional explanation about NANOS

1. reset : In the early model, the previous password before upgrading has 4 characters. -> you can change it to 8 characters. If you enter the wrong password three times, NANOS is automatically initialized. In other words, even if you lose it, people who pick it up can't figure out the password of 8characters in three tries.
2. Recovery key : It creates a private key with the combination of 24 restoration keys and if only the 24 keys are the same, you can create the same electronic wallet that is always created. If you want to make two NANOSs with the same address, when you set up the second NANO, take the 'recover option' and do not take the 'Create a new wallet address option' and then enter the 24 words that you wrote down when you first set up Nano. Then it will be a copied one which is the same with the first NANO.
   In other words, it's like you have two car keys. Therefore, you can order two, one for personal keeping and one for the office use.

1. 2nd approval when withdrawing： when withdrawing from the wallet, you have to press the hardware key of NANO to completely withdraw. In other words, it is impossible to rig it by software because in that way, hackers have to close the windows to press the withdraw button and then would have to access again.

2. Coin support: It currently has been supporting btc. litecoin. ether. zcash. dash. dogecoin. stratis, ripple and XMR and the rest of coins are supposed to be supported in the future. but approximately five coins can be kept in a wallet. If you need to keep more coins, you should buy two. There are three types of wallet application; Bit, Ether and Refill. you will be using the rest of the wallets except wallets for Ether and Refill through the application for Bit.

3. Access to My Ether Wallet : Ledger programs don't support the token feature presently. But its supported when used on My Ether Wallet. The address that is created when you install the Ethereum wallet from the Nano, not the new one, is the unique address of the Nano.
   NANOS can normally open wallets through a program supported by the manufacturer. But, (Search for ledger wallet on Chrome app store) like My Ether Wallet, there are several sites to support Nano for the web interface. Many users have asked me how to access. Just reference to 'contrac data' and 'browser support' in the settings, then you can access to My Ether Wallet.

Tips.

1. You don't have to connect to NANOS every time you transfer from Exchange to Wallet. You can just paste the NANOS address into Hangul file, set the security for Hangul file, and then use the address when transferring from the exchange. The process of confirming if the deposit has been successfully made with NANOS is confirmed when you paste the wallet address at http://www.etherscan.io/. In other words, NANOS connections can be minimized.
2. The way to keep 24words can be different depending on the user. In my case, I make several copies of 24 words and keep them in different locations. I also cut some specific numbers and throw them away and I write the words down. The words of numbers which was cut are kept on a secret spot.So even if someone takes it, they won't be able to recover it. I just felt insecure about keeping 24 words on a paper. The purpose is to keep the assets safe.

This is my first post on steemit. But it feels like I wrote a lengthy post . I have collected all the materials from the internet communities and members' posts and rearranged them since many people have asked about the setting and complained about difficulties. I hope this post has been helpful for all the readers.

Those who purchased coins are already early revolutionaries who led the fourth industry of the economy.

Secure all of the safe assets and best of luck !

wishing you a day full of energy