I have a Coinbase acct. I ordered a Ledger Nano S. Do I need to transfer my coins at Coinbase to a different wallet in order to use the Ledger Nano S?
Hi Oscar, you can send coins directly from Coinbase to Ledger, however that will have to be a different bitcoin address in Ledger not the one you have in Coinbase . A hardware wallet is a device that keeps your private key for you. Coinbase is a 3rd party wallet that holds your private key for you. Here you can read more about the different types of wallets.
OK, I’m assuming you’re using the Ledger Nano S, like Oscar, and that you’ve installed it. If you haven’t yet installed and initialised your device, follow the instructions for your particular Ledger device in this guide:
That done, the following steps will allow you to find the Bitcoin address(es) used by your Ledger device, so that you can fund it:
- Attach the Ledger device
- Input your PIN code
- Open the Bitcoin application on your device
- Launch your Bitcoin Chrome application on your computer
- Click on “Receive”, a popup will open
- Copy the “Bitcoin address” which is displayed <- this is a Bitcoin address for your Ledger device
Note that the device will create a fresh address each time you perform this process. All such addresses belong only to you and your device. The sum of all these addresses will be added together to produce the total amount of bitcoins held in your Ledger wallet. You may send funds to any of these addresses at any time and in any order, although it’s recommended to use a new address each time you receive a payment for better privacy.
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