Ledger Nano S Plus Tutorial (Unboxing, Setup & How To Receive Crypto From Exchange)

[@SmartMoneywithKai]

🔵 Get a Ledger Hardware wallet and keep your crypto safe. smartmoneywithkai.com/ledger ⚡ ALL MY FAVOURITE TOOLS smartmoneywithkai.com/tools

[@MuhammadKhan-kc8ls]

I have received my Ledger Nano S plus 03 days ago.. thanks for your support.

[@SmartMoneywithKai]

@@MuhammadKhan-kc8ls Awesome to hear that and well done, self-custody is the way to go💯

[@BTCtothemoon2012]

Great educational video. However, I was appalled by Ledger's actions... Why would they make those foolish mistakes? Although I love my Ledger, I am seriously contemplating switching to Trezor or Keystone...

[@SmartMoneywithKai]

Hi there and thanks for your feedback. Good point. I am in the same boat as you. Been looking all around for the best alternative. So far between Tangem & Trezor. Will make a future video on that 👌

[@MisterSmylie]

What so you mean by ledgers actions? What did they do ?

[@cryptomaniac2]

@@MisterSmylieLedger didn't do anything wrong. This is just misinterpreted information.

[@ALT_RIGHT]

Which is what?​@@cryptomaniac2

[@Bleeky222]

@@cryptomaniac2is the part where he said you can still get to the funds even if you lose the ledger?

[@denisehartung8011]

OMG you are amazing. You helped a grandma transfer her crypto……thank you. I am exhausted and need a nap!

[@SmartMoneywithKai]

Hello Denise, you made my day and I salute you for the fact that as a Grandma you own Crypto in the first place😉👏And moving it to a Ledger even many youngsters struggle with that so well done to you👌Cheers

[@sahilmushtaq299]

For buying any crpto or new listed coin you need also exchange or you have to give bank details in in ledger live app

[@SmartMoneywithKai]

Hey there! 👋 You're right; buying crypto, especially newer coins, typically requires using an exchange platform or connecting your bank details in apps like Ledger Live. Exchanges let you trade different cryptos, while Ledger Live offers a more direct purchase route but with limited options. Always prioritize security and research before diving in! Stay smart and safe in the crypto world. Cheers

[@bridgetgraves1032]

Thank you! This was super helpful. A friend who is much more knowledgeable about crypto than me insisted that I should go with Ledger. After I got it, I had no idea how to set it up. Your video was perfect.

[@SmartMoneywithKai]

Hi Bridget, amazing to hear and thanks a million, truly appreciated🙏

[@jesuslovesyou5330]

Appreciate it fam...i do have a question:i thought the crypto would b stored on the nano and not the blockchain????

[@Qgee6ix]

Nah its vice versa twin. Your nano is your key and the blockchain is your safe.

[@jesuslovesyou5330]

@Qgee6ix gotcha

[@forrynz7308]

Great Video. A quick question if I may ask. Can I use my Nano S and my Nano S plus with the Ledger software at different times as I want to keep the nano s for a few specific cryptos?

[@Kk-ln1nm]

I am slightly confused is a non-custodial wallet the same as a external ledger device such as the Nano x?

[@cmatz3670]

I have a question maybe a stupid one but when you send your crypto to the ledger live app does that mean it’s on the hard wallet?

[@SmartMoneywithKai]

Hi and no stupid question, but you don't actually send Crypto to Ledger Live App, you send it to your hardware wallet and only then the ledger live app shows the amount, not the other way around 😉 Cheers

[@TrenholmFamily-1701]

Awesome explanation. Simple and clear. Thank you!

[@SmartMoneywithKai]

Much appreciated 🙏

[@soheilz8904]

how to be sure the wallet did not set up before ? it may look brand new but its possible that some one start it before and store 24 words of it ! how to check that ?

[@SmartMoneywithKai]

Hi 👋 Great question! Ensuring your Ledger hardware wallet hasn't been tampered with is crucial for your security. Here's how to check: 1. Verify the Packaging Seal Check: Ledger wallets come with a tamper-evident seal. If it's broken or looks suspicious, don't use the device. 2. Initialize the Device Yourself Set Up: When you first turn on your Ledger, it should prompt you to create a new PIN and generate a new set of 24 recovery words. Warning Message: If the device shows a pre-set PIN or recovery phrase, it's likely compromised. Do not use it. 3. Generate New Recovery Words Never Pre-shared: A brand-new Ledger will never come with pre-shared recovery words. If you receive a device with recovery words already written down, it's a red flag. 4. Ledger Live App Firmware Check: Connect your device to the Ledger Live app. Ensure it's running the latest firmware. The app will guide you through the setup process, and any discrepancies can be detected. 5. Purchase from Trusted Sources Authorized Sellers: Always buy directly from Ledger or authorized resellers to avoid potential tampering. By following these steps, you can be confident that your Ledger hardware wallet is secure and hasn't been compromised. Stay safe and keep your crypto secure! Cheers, Kai

[@soheilz8904]

@@SmartMoneywithKai Thank You very much

[@accornudle]

thank your for the video guide. is ledger live not compatible with chrome book?

[@SmartMoneywithKai]

Most welcome, glad you've enjoyed it. Sadly it seems currently it's not compatible with Chromebook support.ledger.com/hc/en-us/articles/5141511735453-Can-I-run-Ledger-Live-on-a-Chromebook-?support=true

[@accornudle]

@@SmartMoneywithKai which version of windows is compatible with ledger live? Thank you

[@SmartMoneywithKai]

@@accornudle Hi there. As per their website it says Windows 10 (64-bit) or later. Cheers.

[@godlyrides]

great video. Quick question how many crypto's can I store on ledger nano s simultaneously. Like i have 5 different coins/tokens on binance and i want to transfer them all

[@SmartMoneywithKai]

Thanks a lot🙏The Ledger Nano S supports more than 1,100 coins and tokens, which should be plenty😉👌

[@godlyrides]

@@SmartMoneywithKai but sir some videos on youtube say that we can have oly 2 apps

[@SmartMoneywithKai]

@@godlyrides Hi, just have a look here www.investopedia.com/ledger-nano-s-review-5190302#:~:text=It%20supports%20more%20than%201%2C100,the%20Ledger%20Nano%20S%20device.

[@farannassir5194]

is it necessary to connect my laptop the wifi for the ' genuine check' of the ledger?

[@SmartMoneywithKai]

Hi Faran, you will at some stage need to connect your laptop to the internet to sync it with Ledger Live and do the genuine check as well. Your device itself will not be exposed to the internet though. support.ledger.com/hc/en-us/articles/4404389367057-Is-my-Ledger-device-genuine-?docs=true .Cheers

[@LuluMIL-11]

Thank you for the video very helpful. I have a question if I'm staking a coin in another hot wallet once I transfer to the ledger does that staking stop or how does that work?

[@SmartMoneywithKai]

Hey there! 🚀 Glad you found the video helpful! So, about your question: when you transfer a staked coin from one hot wallet to a Ledger (a hardware wallet), the staking generally stops, yes. That's because staking is linked to the wallet and platform where you initiated it. To continue earning staking rewards on your Ledger, you'll need to set up staking again through a service or platform that supports staking with Ledger. Always double-check the specifics for the coin you're staking and the platforms you're using, as the process can vary. Keep rocking that crypto journey! 🌟 Cheers

[@proholic]

Thanks for the Tutorial

[@SmartMoneywithKai]

My pleasure 🙌

[@Apostolos-c6l]

what is the lowest amount of xrp units i can transfer from nexo to an external wallet?

[@Kirkscrustykippers]

Strugling to import smaller not heard of coins do you know how i woukd do this

[@SmartMoneywithKai]

Hi, you can check here if the coin is supported www.ledger.com/supported-crypto-assets If the coin isn’t supported on Ledger Live, you can often manage it using a third-party wallet that integrates with Ledger. Common third-party wallets include: MetaMask: Good for Ethereum-based tokens (ERC-20), Binance Smart Chain (BEP-20), and some other networks. MyEtherWallet (MEW): For Ethereum-based coins. Binance Chain Wallet: For BEP-2 and BEP-20 tokens on the Binance Smart Chain. Cheers

[@izik6894]

Thank you! Can you use two different ledger nanos on the same ledger live software?

[@SmartMoneywithKai]

My pleasure and yes you can, you can read more about it here support.ledger.com/hc/en-us/articles/360007646053-Use-multiple-Ledger-devices?docs=true Cheers

[@ericlarson8941]

Does the packaging come with a tamper proof seal like trezors do? Or is it only shrinkwrapped? I just got one and it doesnt have any tamper proof seal so im afraid possibly its been tampered with

[@SmartMoneywithKai]

Hi Eric, good point. Mine came with a seal, shrink wrapped is not enough as you made a right point about it. Cheers

[@imxsou]

Hi, how can i check my account with the ledger app in my iPhone?

[@SmartMoneywithKai]

Hi, I made a video about it here kzbin.info/www/bejne/mWG4iKyqqqdqmKc Cheers

[@aldrenlao5992]

Possible to store USDT also? And what is the available network?

[@SmartMoneywithKai]

Hi and yes, you can 👌

[@audrelo5]

hi good day, can i use may ledger X plus to different platform,? lets say i have a assets from Binance and i transfer it to my Ledger Wallet, then SEC in my country Ban the binance... can i still access may assets to other Platform ( MEXC, BYBIT, KuCoin, etc...?

[@SmartMoneywithKai]

Hi and yes, because you don't connect Ledger to the platform, Ledger just keeps care of your crypto keys so if you keep your crypto on an exchange, the keys are with them, not your Ledger and if you send it from Binance to Ledger and from Ledger to ByBit and back, that all works seamlessly 👌

[@audrelo5]

@@SmartMoneywithKai hi good evening, thanks for the info... really apprciated...

[@SmartMoneywithKai]

My pleasure 🙌

[@jellybean7245]

This might be a silly question. But once we have our crypto on our ledger, can we transfer it back to a different exchange than the exchange we used to initially put onto the ledger?

[@SmartMoneywithKai]

Hi there, great question and absolutely you can. Think about it like an ATM, you withdraw funds from your own bank, you hold it in cash and can choose to later on deposit it at any bank of your liking👌

[@jellybean7245]

@@SmartMoneywithKai So it doesn’t really matter what exchange you use to buy your coins, once they are moved to your ledger, you can do with them what you like? Is that correct? Amazing channel. Appreciate you sharing your knowledge! 👍🏻

[@SmartMoneywithKai]

@@jellybean7245 You are spot on, that's the beauty of Crypto😉 Very much appreciate your kind words🙏

[@giuseppeluppino5288]

Hi excellent video , so 1 question , if i store any crypto inside there ,means it will growths or loose based on the market ?

[@SmartMoneywithKai]

Hi 👋 Thanks a lot 🙌 Great question. Yes, the value of the crypto you store in your Ledger wallet will fluctuate based on the market. Here's a quick breakdown: 1. Market-Driven Value: Growth: If the market goes up, the value of your crypto increases. Loss: If the market goes down, the value decreases. 2. Security: Your Ledger wallet keeps your crypto safe, but it doesn't influence the market value. It simply ensures your assets are securely stored. 3. Long-Term Perspective: Crypto markets can be volatile. Holding your assets in a secure wallet like Ledger is smart, but always be prepared for market ups and downs. So, your crypto's value will move with the market, but your Ledger wallet ensures it's securely held. Cheers ✌️

[@giuseppeluppino5288]

Hi Kai thanks a lot to take your busy time to answer my question , I planning to safe for a long term 10y or more ,since for example of Bitcoin raised more 700% in the last 10y ,so by my retirement I should be good 😊

[@giuseppeluppino5288]

Because keep it in exchange always easy to use ,like that I will safe like a piggy bank

[@SmartMoneywithKai]

Yes, historic returns have been stellar, but keep in mind that it may not always continue it might also drop again quite a bit and recommend taking it off the exchange, at least majority of it to safeguard. Cheers

[@renatamiron8095]

Great tutorial video!!!

[@SmartMoneywithKai]

Thank you so much Renata🙏🙏🙏

[@Danielhenning86]

Can you access from several devices like phone and laptop?

[@SmartMoneywithKai]

Yes, absolutely 👌

[@rc878]

Thank you for this video! I just received my ledger nano s plus and deposited some money onto it... but I was really unsure as to whether what I had done was okay or not, or right. Your video showed me that what I did was fine, and an in-depth video like this one was just what I was looking for.

[@SmartMoneywithKai]

Truly appreciated and super glad to hear you found it useful, thanks🙏And congrats on going cold wallet, that’s the way to go, especially in such times✅

[@leaharcher3149]

my Ledger Nano S Plus menu does not look like yours. It has receive, earn, buy/sell, swap, refer a friend, card, ledger recover, my ledger. Why does my menu differ from yours? I am unable to follow your directions to transfer my crypto from Coin me to my ledger bc I don't have same menu so I can't follow. Any suggestions?

[@SmartMoneywithKai]

They do update the app from time to time so this could happen. As long as you downloaded from their website, nothing to worry about, maybe check some more recent tutorials as well as it is quite a dynamic topic. Cheers

[@Aitzazwaheedchaudhry]

So thank you for such an amazing explanation. I have a question though, you say its on the blockchain and not on the hardware wallet nano. What happens if Ledger goes bankrupt and their app/website dont work? where and how will recovery work? Can we transfer USDT to ledger and trade like we do on other Exchanges too?

[@SmartMoneywithKai]

Hi 👋, Thanks for the great question! If Ledger goes bankrupt and their app/website stops working, you still have access to your crypto. Here’s how it works: Recovery Process Seed Phrase: Your 24-word seed phrase is the key to your crypto. As long as you have this, you can recover your assets using any compatible wallet (not just Ledger). Blockchain: Your crypto assets are stored on the blockchain, not on the hardware wallet. The wallet just provides secure access. Transferring and Trading USDT Transferring: Yes, you can transfer USDT to your Ledger. Just use the Ledger Live app to receive USDT. Trading: Direct trading from Ledger isn’t like exchanges. You can use Ledger Live's partners for some trading, but it’s limited. For more complex trades, you’d still use exchanges. In summary, your crypto remains safe as long as you have your seed phrase. Ledger’s tools are convenient but not the only way to access your assets. Hope this helps. Cheers.

[@Aitzazwaheedchaudhry]

@@SmartMoneywithKai Thank you so much bro for explaining in details. Can you please review Tezer. i saw that they have better backup and recovery options and you can actually trade some coins like you do on exchanges.

[@SmartMoneywithKai]

Cheers, haven't used them before but will keep that in mind 👌 Cheers

[@anshmaurya3250]

PLEASE TELL ME CAN WE ADD SWEAT OR JMPT IN IT AS ITS NOT SHOWING ON THEIR SITE CAN WE ADD IT AND RECIVE THAT CRYTO I MENTIONED

[@SmartMoneywithKai]

Hi Ansh, even though I never heard of those, just checked and it does not seem to show SWEAT, but JMPT is being offered so you can add it✅ Cheers

[@anshmaurya3250]

@@SmartMoneywithKai BUT WHAT ABOUT SWEAT CAN WE ADD ANY CUSTOM TOKEN LIKE TRUST WALLET AND RECIVE IT ON LEGDER PLEASE TELL ALSO THAT can Any virus enter through cable to ledger when connecting to phone

[@SmartMoneywithKai]

@@anshmaurya3250 From what I understand if they are not supported you can't add them to Ledger. Virus through cable, well, technically I know such devices exist, but as long as you use the original Ledger cable that should not be an issue.

[@anshmaurya3250]

@@SmartMoneywithKai CAn we add SWEAT cryto in anyway to LEDGER BEACAUSE SAFEPAL SAYS ITS SUPPORT IT THEN THY NOT LEDGER

[@SmartMoneywithKai]

@@anshmaurya3250 I would not know, best to contact Ledger for that specific question directly as I don't use Sweat nor Safepal.

[@FameForge01]

Thank you please link to the site

[@SmartMoneywithKai]

Hi to which site? Nexo or Ledger? All links in the description of the video 🙌 Cheers

[@daveyboyyyy]

Do you have to use a PC?what if you only have exchange on your phone?

[@SmartMoneywithKai]

It can also work through your phone app only if you choose a Ledger with Bluetooth 👌

[@inderjeetsinghsaini-k2p]

Is it possible to transfer crypto in ledger from different crypto apps?

[@SmartMoneywithKai]

Hi and yes, absolutely you can do that👌✅ Cheers

[@sagacious33]

I use your link to purchased my ledger. My way of saying thank you!

[@SmartMoneywithKai]

Awww, that's very nice of you, very much appreciated🙏 And well done to you for keeping your Crypto safe👌

[@enriquelopezsastre]

Does the Nano device have a fee for withdrawal back into an exchange (nexo for example)?.

[@SmartMoneywithKai]

Hi Enrique, I believe not for the platform but obviously network fees, but you can choose which network and speed and the fee will be shown to you beforehand accordingly. You can read more about it here support.ledger.com/hc/en-us/articles/360021039173-Choose-network-fees?docs=true Cheers

[@adriandeiac8365]

Soooooo, how is that cold storage? your crypto is in the Ledge Live on your computer which is connected to the internet, aren't you supposed to connect your Ledger device and sync it after you receive the funds in the app?

[@SmartMoneywithKai]

Hi Adrian, the crypto doesn't actually live on your Ledger Live, it always stays on the Blockchain, you just use the app and Ledger wallet to verify transactions and authenticate yourself.

[@cantgetid01]

The thing Im unclear about is, you stated that your computer has to be offline but then how do you send/receive crypto? And you didn't mention if there are fees, is there a transaction fee? Is there a monthy fee from Ledger?

[@SmartMoneywithKai]

Let’s clear up the confusion about using a Ledger device: 1. Offline and Online Use Offline Setup: Your Ledger generates and stores your private keys offline to keep them safe. This is what makes it secure. Online Transactions: To send or receive crypto, you connect your Ledger to a computer or phone with the Ledger Live app (which is online). The Ledger device ensures your private keys never leave the device, even when signing transactions online. You can think of it as having a digital vault that stays locked while letting you interact with the blockchain. 2. Fees Transaction Fees: Yes, every time you send crypto, you’ll pay network fees (gas fees), which go to the miners/validators on the blockchain, not Ledger. These vary depending on the crypto and network activity. Monthly Fees: Ledger does not charge any ongoing monthly fees. Once you buy the device, it’s yours to use with no additional charges for standard operations. 3. Receiving Crypto Receiving crypto is free and doesn’t require your Ledger to be online. You just provide your public wallet address from the Ledger Live app, and the funds are credited to your wallet on the blockchain. Summary: Offline/Online Use: Ledger is secure because keys stay offline, even when connected for transactions. Fees: No monthly fees from Ledger, but you’ll pay network fees when sending crypto. Receiving Crypto: Free and straightforward-just share your public address. Cheers

[@gperhan180]

did ledger allow two persons on ..like the father have own wallet..and son own wallet..and same crypto

[@SmartMoneywithKai]

Hi and yes, you can share Ledger Live app across different accounts, the Ledger wallet physical device though should only be used per one person, unless you want to give full custody and control to your family members as well. Cheers. Accounts in Ledger Live have separated balances to provide flexibility in managing your crypto assets. You can add multiple accounts for each crypto asset and give them a name for different purposes (e.g. trading, checking, savings, etc.). When you add an account, Ledger Live gets its unique extended public key from your Ledger device. Thanks to the xpub, Ledger Live then generates individual public addresses and checks their balances in the blockchain to calculate your account balance.

[@gperhan180]

@@SmartMoneywithKai tnx

[@patriciacox8677]

How do I transfer my crypto from NDAX to my ledger?

[@SmartMoneywithKai]

Hi Patricia, never used NDAX, but the principle should be exactly the same as I've shown with Nexo. Just go into your exchange, click on withdraw your respective crytpo and then follow the same steps, I've shown in the video. It's the same for pretty much any crypto exchange. Cheers

[@patriciacox8677]

Thank you. I did try last night but got lost.

[@SmartMoneywithKai]

@@patriciacox8677 Sorry to hear that, hope their support team could help you out🤞

[@Silfverr]

I don't quite get it. Wouldn't your ledger wallet be vulnerable to any keyboard logger or malware that might get onto your computer?

[@SmartMoneywithKai]

That’s a good question. A Ledger wallet itself is not vulnerable to malware or keyloggers on your computer because it operates as a hardware wallet. The key security feature of a Ledger device is that your private keys never leave the device, even when it's connected to a potentially compromised computer. When you sign transactions, the Ledger wallet does it internally and only sends the signed transaction back to the computer. This way, even if your computer is infected with malware or has a keylogger, they wouldn’t be able to access your private keys or interfere with the actual signing process. However, you should still maintain a clean and secure computer environment because malware can attempt phishing attacks, or trick you into signing a malicious transaction. The device itself is secure, but your awareness and proper use are also key factors in overall security. Cheers

[@nathanboone2995]

why can I see my balance, transfer move whatever without my ledger nano? Its like its just an app for my computer?

[@SmartMoneywithKai]

Hi and no you can also sync it with your phone app so you can see it on the go 👌

[@Ltpg22]

Hello, thank you for tutorial, it helped me transfer 5 tokens to nano s+, but the next 3 i tried, for some reason i didnt get to my wallet. It was sent from exchange, but arent shown in my wallet. Do you know, what the problem might be? I have done exactly as previous transactions and tried every solution i could find, but no success...

[@SmartMoneywithKai]

Hi and great to hear you liked the tutorial. That's strange to hear, the only thing I could think of that the wallet address was typed wrong and the token you've sent is not supported by Ledger. So just double check those two things. Hope this helps. Cheers

[@djovidius3545]

How should i transfer the crypto i have on eToro to this ledger?

[@SmartMoneywithKai]

Absolutely, don't leave it on an exchange 👌

[@eliezerkepecs6348]

Good video. Does Ledger transfer from Robinhood accounts? If so, what is the process for that?

[@SmartMoneywithKai]

Thanks a lot and yes it seems they do allow it. You can see here robinhood.com/us/en/support/articles/send-receive-and-swap-crypto/ The process would be the same from there. Cheers

[@eliezerkepecs6348]

Figured out how to transfer from robinhood to ledger, but now my question is how to keep track of purchase prices swaps and sales for my own accounting and taxes. Ledger doesn't calculate purchase price when swapping

[@alzamora1665]

Hi Kai, Thanks for the video, great help. I went through the process of setting up the nano s plus, however at the end to check if the device is genuine, it was an endless circle of loading. I did not get a confirmation or accept the terms. I hit a connect button, and then it went to the home page on ledger live. At the top of the page on Ledger Live, I see OS version 1.1.0 Device is Geniune. I am still concerned of it being genuine beause I did not see the confirmation page and the accept the term page when finalizing the setup. If it show Device is Genuine, should I believe it?

[@SmartMoneywithKai]

Hi and thanks for your comment. I know this can be tricky, but if you downloaded Ledger Live from the Ledger website and after connecting your wallet to your computer and it shows it as genuine, I think this is a much proof as you can get, I doubt it would otherwise show that, for me I did the same and felt comfortable with that. Cheers

[@Renerator]

Love the video man! very detailed. A never ending debate amoung Ledger users.....Some say you can put your crypto, any crypto, on your Ledger. I say your crypto is always on the blockchain it purtains to. The Ledger is only there to allow transactions and movement of your crypto. And your crypto is not sitting in the device. Your opinion?

[@SmartMoneywithKai]

Hi mate, thanks a lot, really appreciated. I fully agree with you and anyone who says otherwise should study crypto & blockchain again. Your Crypto is always on the blockchain and ultimately it doesn't matter which hardware wallet you use, even if you loose it, there are website where you can enter your private keys and regain access to your crypto on the blockchain so yes, Ledger is just the vehicle to allow your transactions. That's the beauty of Crypto. Cheers

[@gangleweed]

So, the blockchain is the actual place where your currency is stored, and the ledger hardware device is the key to get to your funds......am I correct?.........even without the Ledger device provided you have your private key (the 24 words) you can access the blockchain to get access to your funds?.@@SmartMoneywithKai

[@ardeshirpashmi]

Hi Kai, another educational video. Can you please help me with my query regarding hard wallet. If I put all my bitcoin into a bitcoin hard wallet like ledger nano s plus, in order to secure against hacking, will the value of the bitcoin still increase/decrease as if it was still on an exchange? or I can only benefit from the value of the bitcoin increasing when it is on the open market, therefore susceptible to hacking? Thank you

[@SmartMoneywithKai]

Hi and thanks a lot 🙌 Good question and absolutely it will continue to increase or decrease with the market. Imagine it like Gold. Even you look it up in your personal safe, the value will still increase or decrease, you will just keep it safe and once you sell it you get the market value, that's basically the same idea with keeping it on your Ledger. In the Ledger Live app you will also always see the total value of your Crypto kept on your Ledger so you can always stay on top of your portfolio 👌 Cheers

[@ardeshirpashmi]

@@SmartMoneywithKai brilliant guidance as always. Thank you for your reply and your time. 🙏

[@SmartMoneywithKai]

@@ardeshirpashmi Most welcome and my pleasure 🙌

[@M10GOAT997]

Hello Kai, I have few question, can you please help me with these since i am a noob 1. is this platform nexo is reliable to buy/Send crypto? 2. This platform, will it work in india? 3. What is the fees for Cardano like in case of matic it was free. Thanks

[@SmartMoneywithKai]

Hi and sure: 1. Yes, I use it myself since years and very happy with it 👌 2. As far as I am aware, yes ✅ 3. Not sure what you mean by that. To send, buy, withdraw? Depends on your Nexo level, on Platinum it will be free 🙌

[@ver30000]

Thank you very much Kai. Great help for the beginners like me. Please help me with this... In Twitter there an option that you can receive tips. Bitcoin tips. What is your advice about the receiving address in twitter... May i put my binance receiving address or my ledger address. Thank you very much Kai

[@SmartMoneywithKai]

Hi there and thanks a lot, really appreciated. Never tried it, as I am not big into Twitter. Technically it would be your public wallet address so even if somebody know it, they could not do much with it, only track your money movements, so you could try it, but then again, lot of scammers on Twitter 😉 Cheers

[@liudvikasproductions]

if ledger did some kind of exit scam or took down their servers is it possible to get your crypto out of that cold wallet?

[@SmartMoneywithKai]

If Ledger were to shut down or engage in any malicious activity, you would still have access to your cryptocurrency stored on the device. This is because your private keys are securely stored on the hardware wallet itself, not on Ledger’s servers. The 24-word recovery phrase you set up during the device’s initialization acts as a backup for your private keys. With this recovery phrase, you can restore your wallet and access your funds using any compatible wallet service, even if Ledger is no longer operational. It’s critical to keep this recovery phrase safe and offline, as anyone who has access to it can control your funds. Never share it or input it anywhere other than the appropriate wallet recovery process. As long as you have your recovery phrase, your cryptocurrency remains secure and accessible.

[@liudvikasproductions]

@ thanks!

[@oguz40]

great video! is it somehow possible to get interest on the cryptos you keep in your ledger wallet through Nexo or some other way?

[@SmartMoneywithKai]

Hi there and yes, it is possible. www.ledger.com/staking Here you can see all the coins you can stake through Ledger Live. I am personally not doing it as right now I value safety and security of my coins over staking rewards but saw this video of in which he explains it very well kzbin.info/www/bejne/bYO5n2h_bc2XocU Again, for me, for now, I am ok without it and once the market recovers, I'll transfer again some funds back to the exchange to stake them. Cheers.

[@smsm2313]

will my money that i invest into crypto still go up (if the asset is going up of course)?

[@SmartMoneywithKai]

Hi Simoun, absolutely, it will. It matter how much Crypto you hold. The prices fluctuates and you decide at what point you want to sell it. Think of Gold in your safe. It's your choice to pick the price you want to sell it for. Cheers

[@smsm2313]

@@SmartMoneywithKai so if they are in my “ledger wallet” will they still count as an investment?

[@SmartMoneywithKai]

Hi Simoun, certainly, they will always be yours as long as you have the private keys to them, that makes them yours and as such is your investment.

[@rosenpanchev1666]

if i have virus on pc and i do not know for him , can i have problem with ledger ?

[@SmartMoneywithKai]

That would certainly not be advisable, I am not an IT expert but I would want to make sure there is none. Technically your password is only entered on the Ledger device so Ledger Live would not be able to do anything, but then again, you never know, so if you have doubts, bring it to a specialist to make sure it's clean and good to go👌

[@American.Divergent]

Are they really your keys if they can with the device?

[@SmartMoneywithKai]

Yes, they are your keys even if they were generated by the Ledger device. When you set up a Ledger, it generates a unique private key offline and gives you the corresponding seed phrase. As long as you securely store that seed phrase and no one else has access to it, those keys belong to you. The key point is: your control over the seed phrase = your ownership of the keys. If someone else gains access to the seed phrase, they can control your funds. That’s why it’s crucial to store it safely and offline.

[@MuhammadKhan-kc8ls]

Great, love from Pakistan... mate! can we stake safely our cryptos after having custody at Nano ledger S plus.

[@SmartMoneywithKai]

Hi Muhammad, thanks a lot mate. Technically you can, but since I am not doing it myself, I think there are better people on KZbin who could explain it to you, for me I just want to minimise my risk and exposure as much as possible in these market conditions, because any kind of staking does pose a certain amount of residual risk. Cheers

[@MuhammadKhan-kc8ls]

@@SmartMoneywithKai thanks 👍 for such a prompt response I ever received

[@SmartMoneywithKai]

My pleasure mate, anytime👍

[@Kirkscrustykippers]

Does it cost to send from soft wallets to the hard wallet

[@SmartMoneywithKai]

Only the usual blockchain transfer fee 👌

[@bokaduba]

Can you connect to your phone with a cable?

[@SmartMoneywithKai]

Hi Paulo, to Android phones you can, to Apple you can't. Ledger devices with bluetooth can be connected wirelessly to both. Cheers

[@rosewood4006]

I bought my ledger from bestbuy instead of ledger site. Should i buy a new one?

[@SmartMoneywithKai]

Hi there, good question, hard to say. In general, I suppose Bestbuy is quite legit so I think they could be trusted, though of course if you have a large amount and want to be 100% certain it might be worth it to buy the original one through their website.

[@henrya3508]

Best video on Nano S Plus - Setup and how to receive crypto. 😀

[@SmartMoneywithKai]

Aww, that's amazing to hear Henry, many thanks🙏

[@nuzhat8526]

Very good. I have seen two other videos on this topic, this one is the besr.

[@SmartMoneywithKai]

That's amazing to hear, many thanks Nuzhat🙏

[@LuluMIL-11]

Great thank you for the clarification

[@SmartMoneywithKai]

My pleasure, anytime 👋

[@ADMETC83]

I assume it’s safe to order these from Best Buy also since they are approved vendors or ledger?

[@joshcrain408]

I bought mine from best buy but i havent used it yet bc im worried that its not secure, eveyone is saying to not buy from 3rd party sellers. Pls lmk if you find out🙏🏽😭

[@SmartMoneywithKai]

Hi and I assume Best Buy could be trusted, though personally I would still always prefer ordering it from Ledger, not even Amazon to avoid any risks. Cheers

[@RiddleCrime]

Does this support receiving ETH other than the ETH network?

[@SmartMoneywithKai]

You can also send via BNB.

[@nikhilbhojwani5333]

Very informative. Thank you. Please can you advise on how we can transfer crypto from Binance to Ledger wallets? 🙏

[@SmartMoneywithKai]

Thanks a lot 🙏 I don't use Binance but the principle is the same, just go to your wallet and select withdraw funds and then send it to the Ledger as I showed, it's pretty much the same for all exchanges. Cheers

[@syfodias-jedimaster]

So with BTC Canot afford to keep sending small test transfers because it always change receiving address, is it safe to send to new address everytime?

[@SmartMoneywithKai]

Hi there and good point. For me I did it in 4 transfers. The good things being Nexo Platinum member you get 5 free transfers and with every BTC out, your Nexo ratio increases so it's easier to become Platinum and then you can stretch it out if you feel more comfortable, but in general, as long as you make sure you have the right address and will be silky smooth👌

[@syfodias-jedimaster]

@@SmartMoneywithKai thank you. nano is showing the same as on the app so i think its ok.

[@syfodias-jedimaster]

@@SmartMoneywithKai by the way how do you like nexo? Is it safe right now with all the ftx troubles??

[@SmartMoneywithKai]

@@syfodias-jedimaster That’s perfect then👌

[@SmartMoneywithKai]

@@syfodias-jedimaster I ve always loved Nexo and still use it now though of course I have pulled out 90% of my funds the rest I leave it there and yes there is a risk of losing it potentially. If crypto prices continue to drop I might withdraw the rest as well and keep it all on my ledger though honestly so far they’ve done really well and communicated transparently. They also have live audits but we’ve seen with FTX how much that could be worth:)

[@financetips]

Hi...getting my Nano tomorrow. The default videos are not very clear. I am doing an unboxing of it, wow you covered it really well already! Wish I say your video before to support your link. ❤

[@SmartMoneywithKai]

Amazing to hear that, many thanks🙏

[@gaborfarkas8609]

It's still quite unclear to me why this is more secure than any other online solution, e.g. metamask. The device can be lost, damaged, or like any electronic device, it can be malfunctioning without being used. (I've had this happen with pendrives, memory cards, etc.) So is there a security solution for this case, or am I still at risk, but I don't have to worry about hackers, just about technology?

[@SmartMoneywithKai]

Hi. The key difference lies in how hardware wallets fundamentally isolate your private keys from the internet. While MetaMask is secure, it still runs on an internet-connected device which creates potential attack vectors. The hardware wallet keeps your keys completely offline ("air-gapped"). You raise valid concerns about physical device risks! For hardware wallet users, the security solution is the recovery seed phrase - typically 12 or 24 words that you write down and store safely offline. Even if your device is lost/damaged/malfunctioning, you can fully recover your funds by importing that seed phrase into a new device. So while you do need to protect against physical risks (like keeping a secure backup of your seed phrase), you eliminate the much larger attack surface that comes with storing keys on an internet-connected device. It's a tradeoff between different types of risks - but generally, physical risks are easier to control than cyber risks. Cheers

[@gaborfarkas8609]

@@SmartMoneywithKai That sounds great. Thank you for your detailed answer, Kai! :)

[@sophierenaude2164]

That was super useful thank you very much!

[@SmartMoneywithKai]

Much appreciated Sophie 🙏

[@catgking]

Thanks so much for sharing.

[@adamsky77]

What happens if LEDGER app/servers are down or the company goes bust? What happens then?

[@SmartMoneywithKai]

Hi there, that's the beauty of Crypto, nothing happens, you simply can restore your funds through your recovery phrase on any hardware or software wallet that supports 24-word recovery phrases. So you are platform and manufacturer agnostic👌 Cheers

[@nickwilkins9299]

Great tutorial! Thank you, Kai.

[@SmartMoneywithKai]

Thanks a lot Nick, appreciate that 🙏

[@dunnoyolo2238]

Can you connect Ledger S Plus to iPhone or Android ?

[@SmartMoneywithKai]

Hi there, you can connect it to Android, but not to iPhone. You can however sync your Ledger Live app on computer with your Ledger app on your phone, but to confirm transactions, you can't do it via iPhone. Cheers

[@dunnoyolo2238]

@@SmartMoneywithKai Thanks I'm getting the Ledger X and returning the S Plus waiting for both to arrive.

[@nandkishorgameryt.474]

very useful video thanks for all the information

[@SmartMoneywithKai]

Glad to hear that and my pleasure 👋

[@1Hannigan1]

Great video. And I thank you for your time. I'm working on learning how to use my Ledger too. Off topic, I heard a rumor that Ledger had some hacking or fraud of some type recently. Is that a lie? I thought Ledger was hack proof if used correctly. Thanks for your time.

[@SmartMoneywithKai]

Thanks a lot and much appreciated🙌 In July, 2020, the cryptocurrency hardware wallet manufacturer known as Ledger was hacked. Or more accurately it’s e-commerce partner Shopify was hacked. Approximately 272,000 Ledger customers were affected by the data breach with approximately one million email addresses leaked. Personal information such as postal addresses and first and last names were exposed, according to the company. It’s important to note, however, that Ledger wallets themselves were not affected by the breach. So honestly, nothing to worry about, I still believe it's the safest way to keep your Crypto at this stage. Cheers

[@altoncool8079]

Amazing video thank you sow much

[@SmartMoneywithKai]

So happy to hear that, thank you 🙏

[@brianlozano8334]

If I don't have crypto on an app yet . Can I install later? How to skip and come back? Do I just unplug or sign off

[@SmartMoneywithKai]

Hi Brian, sure, you can just set everything up and send the Crypto to it whenever you want👍 Cheers

[@Bleeky222]

If you can lose the ledger and still get your crypto what’s the point of the ledger I’m so confused by that

[@SmartMoneywithKai]

The Ledger device is used to securely store your private keys, which are what allow you to access and control your crypto. When you use Ledger, the private keys never leave the device, keeping them safe from online threats. If you lose the Ledger, you can still recover your crypto because you have a backup in the form of a recovery phrase (usually 24 words). As long as you have this phrase, you can restore your crypto on a new Ledger or another compatible wallet. The point of the Ledger is to keep your private keys offline and secure, even if you use the recovery phrase in emergencies, it's still safer than keeping keys online.

[@Kirkscrustykippers]

Got some small coins I can't seem to add is ther a way

[@SmartMoneywithKai]

They support a lot but not all. Small coins you might be better off keeping on the exchange. Cheers

[@Kirkscrustykippers]

@SmartMoneywithKai thank u, 2 coins are blowing up fast gone from 2 mil market cap to about 14 , what sort of point will ledger recognise them , like 50 mil or something

[@SmartMoneywithKai]

@@Kirkscrustykippers Not sure, but they take their time on that 👌

[@Kirkscrustykippers]

@SmartMoneywithKai thanks 👍

[@MikeMalone71]

I bought the nano but can't figure out how to transfer my stuff

[@SmartMoneywithKai]

Hi Mike, I know, it's not the easiest but once you do it once, you'll get the hang of it. Maybe rewatch the video, it should guide you through it in detail. Cheers

[@taureanwilliams2900]

If the crypto stays on the Chain then why do I need a cold wallet?

[@SmartMoneywithKai]

It's because of your private keys, think of the keys to the safe. The safe can be at the bank, and there is only one set of keys, either you have them or you trust them with some other organisation and hope for the best. If you keep it on the hardware wallet you basically hold on to your own keys and nobody can hack the exchange and use your keys to withdraw your Crypto. Hope this helps.

[@ana-pi6ut]

If I have 20,000 coins of 5 different coins, can I have them on the same wallet? Thank you

[@SmartMoneywithKai]

Hi and yes, you can store 20,000 coins of 5 different types on the same Ledger wallet. Ledger wallets support a wide range of cryptocurrencies, so you can manage multiple coins within a single device. Just ensure that each type of coin you want to store is supported by Ledger's software. You can check the list of supported coins on the Ledger website. This setup allows you to manage all your assets securely in one place. Cheers

[@alangb2086]

I don't want all my money just sitting in the bank, so I thought I'd get the Nano S just to store some bitcoin as an alternative to a bank, no other reason, and I am very new to crypto, is this a reasonable idea? The idea of a cold/hard wallet appeals as well.

[@SmartMoneywithKai]

Hi Alan, that's a very smart approach indeed, it's always good to diversify your funds so having some Bitcoin on your own wallet is a smart move and much better than keeping your Crypto on an exchange these days. I would recommend Nano S Plus though, it's newer and can hold more coins, in case you want to add more in the future. Cheers.

[@alangb2086]

@@SmartMoneywithKai Thanks for your reply, I realise there is a risk with crypto, similar to shares in the respect that your say $500 of crypto could be worth only $400 the following day, or worse but I can see the banks being a major problem in the near future and as you said, diversifying is a good idea, and I know the risks now, thanks again and the Nano S plus will be ordered soon, cheers

[@SmartMoneywithKai]

Hi Alan, you are absolutely right on with that, but as you said, there is no 100% stable investment anyways. Gold fluctuates, so do Stocks, ETF's and House prices and even USD, GBP & EUR are loosing value to inflation so yes, ultimately long-term investing and diversification seem to be the way to go. Cheers.

[@alangb2086]

@@SmartMoneywithKai Appreciate your comments Kai, wish I could buy you a coffee, Nano S plus ordered directly from Ledger👍

[@SmartMoneywithKai]

@@alangb2086 Many thanks Alan, much appreciated and hope that one day the channel is big enough to do some kind of subscribers meet up's in different cities, so we can then have that coffee😉Cheers.

[@khoa3778]

Great video mate!! Very straight forward and informative.

[@SmartMoneywithKai]

Thank you so much, really glad to hear that 🙌

[@lifeofenergia2090]

omg I ordered mine off of amazon. I do not recall doing a genuine check. Is there a way I can do a genuine check? I have not uploaded anything yet.

[@SmartMoneywithKai]

As per Ledger website, seems Amazon is fine if it was from Ledger store on Amazon👍 support.ledger.com/hc/en-us/articles/4404389367057-Is-my-Ledger-device-genuine-?docs=true

[@nasteegolf7]

How do I “receive” on my nano s? The button has a white 🚫 tia

[@SmartMoneywithKai]

Hi Jonas, not sure I understand your question. You received crypto to your Ledgers respective crypto address that it shows you on the Ledger Live app. Cheers

[@nasteegolf7]

@@SmartMoneywithKai When I try to push receive on my Mac book: the button doesn’t work. The cursor shows a white stop sign.

[@SmartMoneywithKai]

Very strange, just had a quick Google, maybe this will help www.reddit.com/r/ledgerwallet/comments/ai8gnt/white_screen_on_the_ledger_live_app/ Good luck

[@imziminhas]

Loved it, thanks for putting this out here with so much enthusiasm.

[@SmartMoneywithKai]

Hi Imzi, that’s very nice of you to say, many thanks🙏My pleasure. Have a great one. Cheers

[@OscarCruz-kj9ku]

Can you transfer directly to your bank?

[@SmartMoneywithKai]

Hi and yes you can, but only in FIAT currency 👌 Cheers

[@AndyRoma68]

Ciao Kai, a question: when you put cryptos in ledger wallet, is there a chance to put back cryptos to Nexo? 🤔

[@SmartMoneywithKai]

Ciao my friend. Absolutely you can. Pretty much the same principle just in reverse. You go to your Ledger. Click withdraw on the Crypto you want to send and then add the wallet number of your respective Nexo wallet address and it will be send back to the Nexo exchange. No lock up period👍

[@AndyRoma68]

@@SmartMoneywithKai great! Just in case I need more money to spend with the nexo card 😁😁😁😁😁

[@AndyRoma68]

@@SmartMoneywithKai wich network is better to transfer Ethereum? In Nexo they give you native eth or Matic poligon free,....

[@SmartMoneywithKai]

😂👍

[@SmartMoneywithKai]

Definitely go with Matic, at least I used it, was super fast and as it says, free, which is awesome💯

[@WardL]

I should also buy one of these. Amazing video with great explanation. I have a lot of fixed staking so fingers crossed 🤞

[@SmartMoneywithKai]

Hi Ward and definitely, can't recommend it enough, especially in these times we are in, not worth the risk. Hope you can unstake before things get worse. Had the same with my CRO coins in the past and from then on learned my lesson to value less staking rewards over full flexibility of being able to move my funds at a moment's notice. Fingers crossed. Cheers.

[@madisonadams8565]

Wherever you have fixed staking in for interest is probably going to bankrupt soon. Happened to Celsius, happening to Blockify, and Nexo is probably definitely next since they turned off the ability to stake/earn interest. Stop being greedy :)

[@markostradingjourney]

Thank you very much!

[@weiKinkcc]

Hi Kai, great video! Could u perhaps do a follow-up about staking apps on the Ledger?

[@SmartMoneywithKai]

Hello mate, good point. I will first need to figure it out myself and see if it makes sense, at least for myself as I am trying to mitigate any non-necessary risks at this stage, but in case I do, I certainly will. Thanks for the suggestion🙏

[@rnrbrothers3029]

Thank you brother.

[@SmartMoneywithKai]

Cheers mate 🙌

[@vignesht2233]

Why ur nano s wallet High flegaring? 🤔

[@SmartMoneywithKai]

Hi Vignesh, do you mean why the screen is flickering? It's because the camera frame rate, it doesn't actually flicker, just did on my camera😉 Cheers

[@vignesht2233]

@@SmartMoneywithKai ohh okay sir. Thank you 😊

[@Krallebaby1]

How many millions can a ledger hold? Like lets say 400 mils

[@SmartMoneywithKai]

Ledger doesn't hold your funds, just your private keys, so the answer is an infinite amount 😉

[@Krallebaby1]

@@SmartMoneywithKai Oh I thought it was like a little storage Unit for your crypto. So it was locked away from internet.

[@SmartMoneywithKai]

@@Krallebaby1 I thought the same initally, but the crypto never leaves the blockchain, the only difference is who keeps the keys that unlock the crypto either the exchange for you, or yourself, in which case you keep those keys on your own hardware wallet, in this case Ledger or any other of your choice 👌

[@SmartMoneywithKai]

I made this video on the topic recently which might be useful to better understand it. kzbin.info/www/bejne/a4nCYpmaa7CJeZY Cheers

[@Krallebaby1]

@@SmartMoneywithKai I’ll watch it when I get home. Thanks for responding so quick!

[@karimkraouati6157]

About to buy my ledger wallet🙌🏻

[@SmartMoneywithKai]

👏👏👏👏👌

[@saicharan55]

very informative. thank you.

[@SmartMoneywithKai]

Thanks a lot, glad to hear you've enjoyed it. Cheers

[@kyawkyawsein6499]

can phone use? android?

[@SmartMoneywithKai]

Hi and yes, the have an app for Android as well 👌

[@tayguansong]

Thank you

[@SmartMoneywithKai]

My pleasure 🙌

[@AndyRoma68]

Grazie!!!! I own you a pizza, finally a tutorial from Nexo to Nano S, now I am more tranquil and will do the same operations. Thanks a lot mi amigo 😘

[@SmartMoneywithKai]

😂😂😂Glad to hear that my friend and I’ll take that Pizza any day with the greatest pleasure😉Cheers mate and good luck with setup💪

[@robpet4424]

Ciao Gigi ...... you mean "owe" you a pizza.

[@AndyRoma68]

@@robpet4424 hehhehhr yes, btw Kai owe me a pizza as the 50 usd of Ethereum transferred from Nexo to Ledger with his advice ( polygon channel) went lost. A pizza with a beer, 20 euros 😊

[@SmartMoneywithKai]

@@AndyRoma68 😂😂😂😂That's why I always say this is not financial advice:) I am just a random guy on the internet, but given you being one of the most active subscribers I will do so happily😉

[@AndyRoma68]

@@SmartMoneywithKai come to Rome and send me a message when you aree ready for pizza❤️