The Ledger Nano S and Ledger Nano X are cold storage devices used to store private keys and crypto securely. These hardware wallets never connect to the internet keeping the private keys safe from hackers.Ledger Nano devices are compatible with multiple blockchains, such as Ethereum, Tron, Binance Chain, Solana, and BNB Smart Chain (BSC). In this article, we will show you how to connect Ledger Nano to BSC. Make sure to download Ledger Live and install MetaMask for your browser.
This article will show you how to send nano and how to trade in nano.
What is a Ledger Nano?
The Ledger Nano S and Ledger Nano X are two cold storage hardware wallets from Ledger. They can connect to a computer via USB to make transactions and manage crypto stored on the wallet. This is done with either the Ledger Live app or via MetaMask. Each device has a small screen and buttons to navigate through the display.
What is a cold storage device?
A hardware wallet is a highly secure device for storing private keys. Out of all the wallet options you have, it is by far the most secure. Your private keyis never exposed to the internet at any point, greatly reducing the chance of anyone being able to hack or steal it. However, you do need to keep the device physically stored somewhere secure along with a backup of your private key should you lose the device.
Set up a BNB Smart Chain account in Ledger Live
1. If you haven’t already set up your Ledger Nano, download the Ledger Live app for your desktop or mobile device and follow the setup instructions from Ledger.com. Open Ledger Live and connect your device via USB. Ledger Live allows you to manage the cryptocurrencies on your cold storage device over different blockchains.
2. Head to the Accounts tab and click [Add account]. You’ll then see the option for BSC. Select [BNB Smart Chain], and click [Continue].
3. Ledger Live will now have created a BSC account for you. Next, head to the [Receive] tab.
4. Choose your BSC account before clicking [Continue].
5. You should now see your BNB Smart Chain address displayed on your Ledger device and the Ledger Live app. This address is only compatible with BEP-20tokens.
6. Verify the address on your device in the same and press [Confirm].
Does the Ledger Live app support every BEP-20 token?
Your Nano Ledger will accept any BEP-20 token, but it might not show initially on your balance. Your token will safely be there, and all you need to do is add some technical details for it to show on Ledger Live and your Ledger device.
Ledger Live displays BEP-20 tokens in three different ways:
-With a balance amount and its value in fiat. This is for fully-supported tokens.
-With just a balance amount but no fiat value. This is for semi-supported tokens
-With no balance amount and no fiat value. This is for non-supported tokens where you will have to add their details yourself.
Access my non-supported BEP-20 token balance
1. If you don’t already have MetaMask installed on your Chrome, Firefox, or another supported browser, head to their website and install the compatible extension.
2. Create a MetaMask wallet or log in to your existing MetaMask wallet. Creating a wallet is simple - just make sure to keep a secure backup of your seed phrase, ideally on a device not connected to the internet.
3. Next, you’ll need to follow our Connecting MetaMask to BNB Smart Chain guide.
4. Connecting your Nano Ledger to your computer and then open your device’s BNB Smart Chain app. You can do this by searching for the BNB Smart Chain icon and simultaneously pressing both of your Nano Ledger’s buttons.
5. Open the Ledger Live app connected to your Nano Ledger.
6. In MetaMask, go to [Settings] - [Advanced] and then toggle on [Use Ledger Live]. Your Nano Ledger will then show up as an account in MetaMask.
7. Next, you’ll need to add your unsupported BEP-20 token’s contract address into MetaMask as a custom token.
8. You can find your BEP-20 token’s contract by looking up the coin on CoinMarketCap or GoinGecko. You’ll see the box below with the information you need to copy. Also, make sure to take note of the [Decimal] field too.
9. Making sure you’re on your Ledger Nano account in MetaMask, and you have BNB Smart Chain selected, click on the [Assets] tab. Scroll to the bottom and then click [Add Token].
10. Copy the token contract address in and the decimal. MetaMask will usually fill out the rest of the details for you. The [Token Symbol] field is the ticker symbol you want your wallet and Nano Ledger to display for the crypto. In our example, this would be CAKE. Finally, click [Next].
Closing thoughts
Choosing to use a hardware wallet is a massive upgrade in security for your crypto assets. If you’re a HODLer, you won’t even have to connect your device to your computer very often. Hope you can get a better understanding about how to send nano and how to trade in nano after reading this article.
