Ledger.com/start — Complete setup, security best practices, and staking guide

Overview

Ledger hardware wallets are secure devices that keep private keys offline in a dedicated secure element. Using a hardware wallet is the most reliable way to maintain custody of cryptocurrencies while minimizing exposure to remote attacks (phishing, malware, or compromised cloud backups). Ledger Live is the companion application for macOS, Windows, Linux, iOS and Android that lets you manage accounts, view portfolio balances, send and receive funds, access swaps, and stake supported assets.

This guide spans foundational setup (unboxing, firmware update, PIN and recovery phrase) through daily usage patterns (sending/receiving, verifying addresses on device), advanced topics (seeding strategies, multiple backups, passphrase considerations), and an in-depth look at staking: mechanics, rewards, lock-up, and risk.

Why use a hardware wallet?

The key idea is separation: private keys never leave the secure hardware. Even if your computer or phone is compromised, the attacker cannot sign transactions without access to the device and the PIN. Ledger devices combine secure hardware (Secure Element), a minimal operating system, and explicit physical confirmation for sensitive actions — creating a high bar for remote attacks.

Use cases: long-term cold storage, everyday spending (with small hot-wallet balances), staking with security, and multi-account portfolio management. Hardware wallets are suitable for individuals and institutions that need strong custody controls.

Recovery phrase: practical storage strategies

Your recovery phrase is the single most critical asset. Consider these storage strategies:

• Primary offline copy on the recovery sheet stored in a home safe.
• Secondary copy in a geographically separate secure location (bank safe deposit box).
• Use a metal backup plate for durability against fire and water damage.
• For inheritance planning, create clear legal instructions for heirs (without revealing the phrase itself).

Never store the phrase digitally (photos, cloud, password managers). Avoid sharing it with anyone, including people claiming to be support. Ledger support will never ask for your recovery phrase.

Ledger Live: features and workflows

Ledger Live is the central hub for device management. Key workflows:

• Accounts: Add, remove and manage multiple cryptocurrency accounts.
• Send/Receive: Create transactions in the app; confirm and sign them on your device.
• Manager: Install and uninstall apps on the device; update firmware.
• Swap & Buy: Access third-party liquidity providers safely through Ledger Live's integrations.
• Staking: Delegate or stake supported assets directly from accounts, with rewards flowing to your account.

Regularly review Ledger Live notifications and software updates — they may include important security fixes or compatibility notes for new coins.

Staking: what to know before you stake

Staking lets you earn rewards by participating in a blockchain's consensus (proof-of-stake) or delegation system. Ledger Live supports staking for specific assets; exact options and reward rates change over time per network.

Before staking:

• Confirm the asset is supported for staking in Ledger Live.
• Understand lock-up periods and unbonding times — some networks require you to wait before moving funds.
• Check fees and whether rewards are compounded automatically or require manual claiming.
• Assess counterparty risk if using third-party validators or pooled staking services; choose reputable validators.

Staking through Ledger keeps private keys on your device; you sign staking transactions on-device. However, network-level risks (slashing, validator downtime) still apply depending on the network and validator behavior.

Troubleshooting & common pitfalls

• Device not recognized: Try another USB cable, connect to a different port, or use Ledger Live's troubleshooting tools. Avoid installing unofficial drivers from unknown sources.
• Phishing: If a website or message asks for your recovery phrase or PIN, stop immediately. Report phishing to Ledger and relevant platforms.
• Firmware update interrupted: Do not disconnect the device during updates. If interrupted, follow Ledger's recovery steps precisely.
• Lost recovery phrase: If you do not have your recovery phrase and lose the device, you cannot recover funds. Keep at least two secure, offline copies of the phrase.

Advanced topics

Multi-signature: For institutional setups or higher security, consider multi-signature solutions where multiple hardware wallets or signers are required to authorize transactions.

Integrations: Ledger integrates with third-party wallets and DeFi tools. When connecting, confirm that you are using well-known, audited software and that only public addresses (not private keys) are shared.

Passphrase use: Passphrases create hidden wallets but must be used carefully: they are not stored on the device and must be remembered separately. Mistakes with passphrases can lead to permanent loss.

Frequently asked questions

Can Ledger Live be used on multiple devices?

Yes — Ledger Live can be installed on multiple computers or phones. The device (Ledger hardware) holds keys; you may open the same accounts across devices using your Ledger and recovery phrase.

Is my recovery phrase valid across different wallets?

Yes. The recovery phrase follows broadly used standards (BIP39/BIP44/BIP32). However, wallet-specific derivation paths and passphrases can affect which accounts are derived.

What happens if Ledger goes out of business?

Your funds remain recoverable as long as you hold your recovery phrase and private keys derived from it. Hardware vendors provide convenience and security, but the recovery phrase is the core of custody.