Digital asset traders and investors already use digital wallets to securely store and protect their inventories from cyberattacks. This article will guide you to understand what is Hardware wallet and how to import a Ledger account to MetaMask. MetaMask currently supports five hardware wallets: AirGap Vault, Keystone, Lattice, Ledger, and Trezor. These wallets are supported on Extension and will be able to be added to Mobile in a future update.
What is a Hardware wallet?
Hardware wallets, also known as cold wallets, are offline devices used to store cryptocurrency or digital asset access data. They usually look like familiar USB drives. Hot wallets consist of several types of sub-wallets, such as web wallets, mobile wallets, and desktop wallets.
Even though storing your private keys or access information on a hardware wallet can protect your assets from theft, it can be risky without backups. Also, users should buy hardware wallets directly from the manufacturer, rather than considering second-hand ones, to prevent the device from being tampered with, rendering it unusable.
How do hardware wallets work?
Hardware wallets require private keys to complete offline transactions. Users need to connect it to a computer or other device to access the private key.
Transactions always start offline - using USB, CD, paper or other offline devices. The transaction data is then connected online and securely encrypted before being forwarded over the network. It is important to note that the private key is not transferred to the server during the encryption process, so hackers cannot obtain it.
How to Import Ledger Account to MetaMask?
Please always be minded that you need to update the version of Ledger to use. Here is the step-by-step process of importing the Ledger Account to MetaMask:
- Open MetaMask and create a separate MetaMask account
- In the next steps, you will add a second account to MetaMask: your Ledger account.
- Once everything is set up, open MetaMask in your browser, click the three dots icon, and select Expand View. MetaMask opens in a tab that is easier to navigate.
- Plug your Ledger device into your computer and open your Ledger device by navigating to the Ethereum icon and pressing both buttons at the same time. Your Ledger device shows that the app is ready.
- In MetaMask, click the identicon, select Connect Hardware Wallet > Ledger, and click Continue. After a few moments, a list of account addresses will appear.
- Select an account by ticking the box and clicking Unlock.
Now your Ledger account will appear on MetaMask.
I hope this tutorial helps you how to import Ledger Account to MetaMask and know what is Hardware Wallet. Hardware wallets like Trezor, Ledger, Lattice 1, Keystone or AirGap Wallet help ensure you have full control over your assets and add a layer of security. Using a hardware wallet increases the security of your private keys and when interacting with smart contracts.
