Securely Set Up Your Algorand Account on Ledger Nano

Introduction

Here we will focus on how you can setup an algorand account on ledger nano.

Pre-requisites

• Any pre-setup version of Ledger Nano
• Ledger Live Software installed on your PC

Ledger Hardware Wallets

Ledger is a French company based in Paris that produces hardware cryptocurrency wallets. The company also has an office in San Francisco, California, in the United States. Founded in 2014 by eight experts in embedded security, cryptocurrency, and entrepreneurship, Ledger has gained a reputation for providing secure storage solutions for digital assets.

Ledger's hardware wallets are designed to store private keys on device-based storage, such as USB drives, making it significantly more difficult for hackers to access the key. Ledger's two most popular hardware wallets are the Ledger Nano S and the Ledger Nano X. In addition to their device-based storage, these wallets also come with a 24-word backup recovery phrase that can be used to access a user's cryptocurrency in the event that the device carrying the private key is lost. This added security feature ensures that users can always recover their digital assets, even if the hardware wallet is lost or damaged. To know more, visit.

Important information provided by Ledger

1. Your crypto assets are stored on the blockchain. You need a private key to access and manage them.
2. Your private key is stored with your Nano. You must be the only one to owe it to be in control of your money.
3. Your Nano works as a "cold storage" wallet. This means it never exposes your private key online, even when using the app.
4. Ledger Live allows you to buy, sell, manage, exchange, and earn crypto while remaining protected. You will validate every crypto transaction with your Nano.

Steps Involved in Setting up the Algorand Account

Step 1: Connect your Ledger Nano and enter your secret phrase to unlock it.

Step 2: On your PC, launch the Ledger Live program. And then, choose "My Ledger" from the left-hand menu.

Step 3: On your Ledger Nano, allow the connection request from your Ledger Live application.

Step 4: After you have approved the request, navigate to the "Apps Installed" section. It is possible that you do not have the "Algorand" program installed.

Step 5 (Optional): The "App catalog" page is located next to "Apps Installed" and allows you to install the "Algorand" application. Select "Install" from the menu.

Step 6: The "Algorand" program will appear under "Apps Installed" once installed.

Step 7: Once the application is completed. We'll proceed to set up the account. Click the "Add Account" button.

Step 8: When asked for a connection request, allow the connection.

Step 9: Post that Ledger will search for a pre-configured account. If none exists, It will ask for a new one.

Step 10: You can keep the account's default name or modify it. After that, press the "Add Account" button.

Step 11: When the account is successfully created, you will be greeted with a success screen.

Step 12: When you click the "Done" button, you will be sent to the "Accounts" list page.

Conclusion

We have completed the process of creating an Algorand account on Ledger Nano. You may now purchase, sell, stake, and do a variety of other things.