Set up Ledger Nano S
Step by step guide
For any issuer we advise to setup a Ledger Nano S as a backup wallet that can be used to regain control of the on-ledger components of the digital security.
This step by step guide will show you how easy it is to set up a Ledger Nano S Hardware Wallet. It takes you through the setup assistant and shows you which steps are essential to interact with your digital company shares.
Set up takes about 15 minutes. Set up is only required once before the issuance can begin.
For the installation you need the following:
Install this software "Ledger Live" to configure your device (using your computer) to avoid configuring all devices via the small display on your device. To install the "Ledger Live" software, please go to https://start.ledgerwallet.com
Click on "Download Now" and install the software. After the installation is finished, open the application.
First you will see this splash screen. Click "Get Started" to continue.
Now click on "Initialize as a new device".
Select the device "Ledger Nano S" and click on "Continue".
First, you need to set a PIN code to protect your device from unauthorized access. For this, connect the device to your computer. Click both buttons to continue.
Now the device will explain to you how to operate the Ledger Nano S. Click both buttons again to continue.
Use the right button to confirm that you want to initialize a new device.
Click both buttons to continue and enter your PIN code. Use the left and right buttons to change the numbers. Press both buttons simultaneously to select a number and proceed to the next number.
Click both side buttons to continue, then re-enter your pin code for confirmation.
- Always choose your own PIN code.
- Use 8 digits for optimal security. Never use a device that is already equipped with a PIN code or recovery phrase.
- After you have completed all the steps, click "Continue".
Now is the time to create a recovery phrase for your wallet. The recovery phrase is an ordered list of 24 randomly selected words. The recovery phrase allows you to access your account at any time even if you forget your PIN code or lose your Nano S ledger.
In this step, you write the recovery phrase word for word on your recovery sheet. Then keep the sheet in a safe place. Now take your device and follow the instructions.
Press both buttons to continue.
Write every word on your recovery sheet. Use the right key to proceed to the next word.
When you're done, click both buttons to continue.
In the next step, enter the words in the correct order to ensure that you have actually saved the recovery phrase. Click both buttons to continue.
Use the left and right buttons to navigate through the words. If the word at the position matches the word you wrote down earlier, click both buttons to confirm the position of the word.
After you have confirmed the last word, the display shows that the device is now ready. Press both buttons to continue.
Again, press both buttons to continue.
Now that you have completed all the steps shown, click "Continue" at the bottom right.
Go back to your Ledger Live application and confirm both security questions. Click "Check Now" to confirm that you have a valid device that has not been tampered with.
Take the device and confirm that the manager tool can access your device. Press the right button.
Then you should see the text "Your device is genuine". Click on "Continue".
Secure access to the Ledger Live application by setting a password. Set a secure password and click "Continue".
Clear the Analytics and Bug reports checkboxes. Then click "Continue".
Your device is ready! The following steps require you to install the Ethereum application. Click on "Open Ledger Live".
Since you will be using the Ethereum network to issue your digital company shares, you must now install the Ethereum application on your device. To install applications, Ledger Live has a tool called "Manager". Click the "Open Manager" button.
Search the Manager for Ethereum and click "Install".
After the installation is complete, click "Close".
A new menu item "Ethereum" is now available on your device.
Next, create a new address (= account) to manage your digital company shares.
To create a new account, click on the "+".
Select "Ethereum" from the drop-down menu and click "Continue".
Next you'll see this screen. To confirm your Ethereum application, look at your display and select Ethereum.
Name your new account for example "Security-Token-Account", activate the checkbox next to it and click on "Add account".
You can now close the Account Manager.
You can also close the Ethereum application on your device by pressing the left or right button until the menu displays "Quit app". Then press both buttons to exit the menu.
Select your newly created account on the left. Then click on "Receive" to see the address of your account.
Connect and unlock your Ledger Nano S and navigate to the Ethereum application. Press both buttons to start.
Check on your device that the address matches the one displayed in the wallet software. Confirm by pressing the right button.
Now the address of your account will be displayed. Press the copy key to copy the address to the clipboard. You can safely disconnect your device from your computer. Keep it in a safe place.
This address is queried by us in the onboarding process.