Ledger
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In the world of cryptocurrency wallets, Ledger is the most popular and used brand, and there are good reasons for this. While not one of the cheapest options, the Ledger hardware wallet is extremely popular among crypto enthusiasts due to its friendly interface, multi-crypto support, and Industry-leading Web3 and DApp support/Integrations.
Used primarily to keep your assets safe in a cold wallet, Ledger can also be used for online crypto betting. It allows quick and secure crypto transactions from and to the wallet from any online crypto betting and gambling site.
The added support of thousands of crypto assets only helps with the enjoyable experience of moving your crypto between the wallet and the bookmaker.
How to Set Up a Ledger Wallet
Setting up your Ledger wallet is a very simple process; however, like how it is with setting up any cold crypto wallet, it all begins with purchasing one of the Ledger wallets – Ledger Nano S, Ledger Nano S Plus, or Ledger Nano X.
From there, all you need to do is download the Ledger Live application and follow the instructions.
- Buy a Ledger cold wallet
- Download and install Ledger Live (Windows, macOS, Linux, iOS, or Android)
- Open Ledger Live application and click on “Get Started”
- Choose your device and proceed
- Chose a 4-8-digit PIN code
- Save the 24-word recovery phrase
- Click on “Continue”
- Complete the security checklist
Ledger also comes with added security features, which you can complete while setting up the device.
If you click on “Check my Nano” and press both buttons on the device, Ledger Live will ensure that the device you have is genuine, ensuring that it can provide you with the cryptographic proof required to connect with a secure server.
How to Use Ledger for Crypto Betting
A Ledger wallet is an excellent choice for online crypto betting. It is not only one of the safest hardware wallets available, but it also allows users to send and receive multiple cryptocurrencies with no restrictions, meaning it can be used to deposit crypto into your betting accounts and make withdrawals.
Sending crypto from your Ledger wallet can be done either on the Ledger Live desktop or mobile apps.
- To send crypto from Ledger via the desktop app to your betting account, follow these steps
- Login to the crypto bookmaker you want to make a deposit on
- Click on “Deposit”, pick the preferred crypto and copy the address
- In the Ledger Live app, click on “Send”
- Paste the address from the betting site
- Enter the amount
- Choose the network fee – a higher fee results in quicker deposits
- Verify the transactions by unlocking your Ledger device and pressing buttons to accept and send crypto
Receiving withdrawals from crypto bookmakers directly into your Ledger wallet is just as simple.
- Login to the crypto bookmaker you want to request a withdrawal from
- Click on “Withdraw”, and pick the crypto you want to withdraw
- In the Ledger Live app, click “Receive” and pick the account to credit
- Connect and unlock your Ledger device
- Read the on-screen instructions and click on “Verify”
- Make sure that the address on the device and on the app is the same
- Copy the address and paste it on the crypto betting site
- Complete the transaction
The steps you will have to follow on the mobile app rather than on the Ledger Live desktop app will not differ by much. And thanks to Ledger’s user-friendly interface, the process is straightforward to follow.
Buy & Sell Crypto at Ledger
Besides securely storing your cryptocurrencies, Ledger offers two highly helpful features, allowing users to buy and sell cryptocurrencies through the app. Ledger makes it possible through its partner, Moonpay.
To buy crypto though Ledger Live, there are a few steps to follow.
- Open Ledger Live app on your computer and connect your Nano
- Unlock your hardware wallet with your PIN
- Pick which cryptocurrency you would like to buy
- Under “Portfolio”, click on “Add Account” and select the cryptocurrency
- Navigate to the “Discover” tab, then select Moonpay
- Enter the amount (in fiat) you want to spend
- Check the details and press “Continue”
- Connect your Nano and confirm the address
- Enter your email and click on “Continue”, then check your inbox for verification from Moonpay
- Pick a payment option (bank, credit or debit card)
- Complete the transaction
The first time you request to buy crypto through Moonpay, you will be required to complete a quick KYC check. When completed, Moonpay will not require you to do it again with your next purchases, allowing for a quick and easy way to buy various crypto assets through Ledger’s partner.
Besides buying, users can also opt to sell crypto on Ledger Live through Ledger’s partners.
- Open Ledger Live
- Connect your Nano to your computer and unlock it with your PIN
- Download the exchange app – if you have not already
- Click on “Buy/Sell” on the menu
- Click on “Sell” and pick the crypto asset you want to sell
- Pick the account you want to sell your crypto from
- Enter the amount you wish to sell – check the min/maximum limits
- Choose the fiat currency you want to receive
- Check the quote, and if satisfied, click on “Sell Now”
- Confirm your bank details or add new details
- Confirm order
- Confirm the transaction on your Nano
Like buying crypto, the exchange will ask you to complete KYC verification if it is your first time selling crypto from your Ledger device.
FAQ
Can you use Ledger Wallet for betting?
The Ledger wallet can be used for online crypto betting and gambling just as easily as any other hardware wallet. Since it has no restrictions on who you can send your assets to or receive crypto deposits from, Ledger can be used to deposit and withdraw from any crypto bookmaker easily and safely.
Can you buy and sell crypto at Ledger Wallet?
Yes, Ledger users can buy and sell crypto through the Ledger Live app. This is made possible through Ledger’s partners, such as Moonpay and Coinify.
You can buy and sell assets directly on the app; however, they will be redirected to a partner’s website, where you will have to complete KYC for the first purchase and the first time you sell your assets.
Is Ledger Wallet safe?
Ledger is widely known as one of the safest crypto wallets available. As it is a hardware wallet, it is designed to keep your assets safe by default; however, it includes added security features such as the Secure Element chip, which was designed for use in bank cards, as well as Ledger’s secure screen.
