Risks of Juggling Multiple Wallets in Ledger Live (Seeds, Passphrases, Devices or Re-initializing)
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- Опубліковано 24 кві 2020
- Ledger Live is a powerful wallet but it it's also important to clearly understand how it handles the situation where you might have multiple accounts from a range of different seed phrases, passphrases or devices. (Or simply what you watch out for if you reset your device) This can also be applied to any watch-only wallet, particulary hardware wallets which operate in this mode by default. (Like a Cold Card with Wasabi or Electrum, Keepkey with Shapeshift, Safepal) or those which give you the option. (Trezor)
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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.
For your first purcahse, just stick with CoinBase: www.coinbase.com/join/5691c9d...
For Trading, just start with Binance: www.binance.com/?ref=18111926
By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)
Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: shop.ledger.com/?r=5243ecbb84...
(If you are just starting out, I would just recommend a Ledger Nano S)
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Keep all your crypto safe & upgrade to a Ledger Nano X Hardware Wallet shop.ledger.com/pages/ledger-nano-x?r=5243ecbb8427
Alternatively, if you prefer a 100% Open Source wallet, a Trezor One is also a great value wallet shop.trezor.io/product/trezor-one-white?offer_id=14&aff_id=2922&source=UA-cam
I love your videos ive been educated so freakin much!! Thank you!
Thanks, glad you have found them helpful :)
Really important info! Cant imagine what happend to people which stacking sats over years and later realize that they dont have any access to their seed/private key
Yea it seems to be fairly common misunderstanding in terms of how it all works, particularly for Ledger users.
Great video bud, this helped.
Glad it helped :)
Great video and info. I think it’s a pretty simple fix. Just engrave what wallet number it is on the silver part of your ledger. Problem solved. 👍🏽
Yep, a bit of low tech labeling goes a long way
rookie question.....I think I want to manage 3 Ledger devices within one copy of Ledger Live and I like your engraving idea. When you say engrave the "wallet number", that's the account name identified within Ledger Live? Thx.
@@jeffdonofri8027 correct. Whatever name you give it. Or the generic name it assigns to itself.
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Very helpful and thank you sir.
Glad it helped
Very helpful, thank you
Glad it was helpful!
Thanks for the info. If I'm understanding this correctly, as long as you take care to ensure you still have access to the seed by using the receive function within ledger live, you can be confident the seed on your device is the one associated with the receive address?
That's right, the "verified receive" function is very useful to be sure you are using the right device that will allow you to successfully send.
I bought the x and s. Is it possible to have the keys for say 30 ethereum stored on both of my ledgers? Or can I only put an asset key on one of the 5t//t/t/ledgers a time
You can have the same seed phrase on as many Ledger devices (including hardware wallets from other vendors) at the same time. This will let you access the same crypto on all these devices.
is it possible to run a seperate ledger live app on the computer for each seperate ledger nano hardware wallet? or do you have to clutter the one ledger live app with multiple ledger nanos ? cheers Steve
You can only have one instance of Ledger Live for each windows user profile.
Question, imagine I lose my USB. To quickly access my account while I wait for a new USB am I able to use the seed phases on other types of wallets ?
It depends on which cryptos you are holding bit generally the answer is yes. I have a video which runs through how to do this in Coinomi.
Nice video , you have my 👍 . Does it make sence to have 2 wallets with same seeds? . thanks.
In some cases it can. You might want to have a "hot-spare" backup that you store somewhere, this can take all the stress out of firmware updates, etc. You may also be in a situation where you started with something like a Trezor, but later get a Nano X to store some of the other cryptos. (But might still like the Trezor UX or something)
@@CryptoGuide Perfect . in Engineering we call it " Redundancy " in Crypto we call it "Smart ". i like Ellipal Titan for the go wallet . Ledger is nice to keep in a safe (away from the seed of course ) 👍
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Thanks for the vid. Noob question; can a single Nano X (and therefore a single 24 word phrase) support two native sigwit BTC accounts, for example if you wanted to keep traded and mined BTC seperate?
A single Ledger Nano can support as many accounts as you like.
@@CryptoGuide Awesome thanks
@@CryptoGuide why would you want or need more than one account on a single wallet?
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can you merge accounts in ledger life? or it is necessary to transfer the funds even that it is the same seed?
Thanks for your videos !!
new subscriber here
You can't merge them, you need to manually move the funds from one to another.
@@CryptoGuide Thank you very much for a really very very urgent and needed info :)
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Is there anyway to see all the crypto associated with a seed phrase in ledger live or some other software? For example my elrond and cardano crypto are stored on software wallets from each project but I use the ledger with each corresponding software wallet.
If someone other than me had to restore my ledger device they would have no idea that the elrond and cardano exist.
No, there is not. The only reliable way to keep track of all the cryptos associated with a given hardware wallet is to keep good records.
Nice Video...
Glad it helped
Newbie question. Any drawback to using same pin for more than one Ledger Wallet?
Not really no
Can I use Ledger Nano S and Ledger Nano X ( different seed , 24 word recovery phrase ) in ONE Ledger Live app ???
Yep, that is exactly why the issue in this video can occur.
Good video. I got a new laptop, installed the ledger live app, plugged my device in, added all my accounts but when i went to add XRP, it didnt sync all 5 wallets i had on my old laptop. What am i doing wrong?
How many of the XRP wallets did it find?
Thx! Very useful video! What about using multiple Ledgers to manage multiple Metamask Installations aka multiple Hardware Wallets in Metamask?
Exactly the same issues can occur. (And very often do)
@@CryptoGuide Thx for your reply! So u mean mixing up wallets when send/receive? Is it possible to use multiple ledgers with the same MetaMask? Because when I was enter my MetaMask password (extension) I can see the wallet subaccounts/wallets and also sign read-onlys without the device. I wondered how it would be handled at all when having like three Ledgers with each one wallet in it and wanting to see it in one MetaMask. Unfortunately no one covered this topic on UA-cam. Your video was the closest I found so far!
You can use as many different Ledgers, Trezors and Keystones at the same time as you like. You just need to be using the device with the correct seed+passphrase when trying to use a corresponding account.
@@CryptoGuide Great thx! Didn't knew that with MetaMask its also possible to use different Ledgers!
Just be sure to stay on top of your account labeling :)
Is to setup a second factory new ledger device on my computer without it ever asking for me to verify any details on my first ledger device?
Yes, you can use Ledger live with a second ledger and this is totally independent from any other devices.
Can you show how to hide accounts and have them back on the ledger live app?
You just delete them and then run "add accounts" if you want them back.
Hi can i use 2 ledger nano s in 1 account in ledger live but has different wallet?
Yep
Hy dude can we set up 2 ledger live with 2 different ledger nano s within same computer.?
Yep
Its best to name the designated account to the desinated ledger device
I think it is a good idea to tie the account names to a seed. (Which may or not always stay on the same Ledger)
@@CryptoGuide yeah very true!
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Hi. If I do a recovery check on one of my accounts on my nano x, and I enter the wrong recovery phrase, what happens?
It will just tell you that it doesn't match the seed in the device.
@@CryptoGuide Hi C.G. Thanks for getting back. I imported two wallets into my nano x. I then created another account for a total of three accounts. Two of the accounts do not work; I get the error window. I have all of my recovery phrases (seeds) Is there a way to contact you with help in opening them? This all gets very confusing for us non-technical folks. I don't want to make a big mistake and get locked out of the accounts forever. More than happy to pay you for your time. Let me know and thanks. Bobby
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Need help with seed phrase. Ledger will not load saved seed phrase does not work after a few years Nano Ledger ”
Sounds like you have an error in your seed phrase. Firstly, have you checked that all the words are part of the BIP39 word list ( github.com/bitcoin/bips/blob/master/bip-0039/english.txt )
Hey is Ledger live displaying everything properly for you right now?
Looks like it, at least when I checked just now on Android
I'm connected with coinbase to be alerted of their issues .
It would be great if Ledger had the same app..............
!!!#!!!
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i got coins on ledger anyway of getting them out?
What does this mean, why you can't you just send them using Ledger Live?
Help!! So what if i have say 5 nanos. Re did 4 new 24 seed word. Now cannot get receieve deposit address on 2 of them says something went wrong But i did recovery check and says new phrase is correct?? I purchased brand new nano x/ do i set up using new 24 seed OR DO I USE 24 SEED ORIGINAL DONE YEARS AGO??Because on old nano x the old recovery seed says is wrong on device, Yet the new 24 seed doesnt allow device to send or receive!!Ledger support doesn't reply over a month now!!
Do i set up new nano x with 4 year old seed or set up with current seed that says is correct but yet device doesnt work?? Im screwed!!
Firstly, don't spam the comments across multiple videos... Once is enough...
Secondly, you say you have 5 Nano devices, so does that mean you have 5 seeds, or did you just use the same seed on a bunch of them?
@@CryptoGuide im sorry, this is a older video so i replied to your new one, my apologies.
I have different 24 seed on all nanos. I have brand new nano X that is Not set up yet
So it sounds like you got your accounts mixed up. Have you tried restoring all 5 of the seeds on to the new Ledger Nano to work out which one corresponds to the inaccessible accounts?
@@CryptoGuide I'm guessing after watching your previous videos that you maybe your right about wrong seed to wrong nano (2 nanos dont work) But when i plug nano in for recovery it says valid/ does that mean valid for the plugged in nano or is it just a valid 24 order words for anyones nano (so in fact i do have my 2 nanos mixed up?)
Funny thing is I'll get a correct receive address on 1 of them 2 days ago but yesterday it say something went wrong?
Still would like to try set up brand new nano x with mirrored older nano x seed/ do i use current valid seed but non workable,
or seed of 4 years ago (but i used recovery of 4 year old seed,device says not correct so im guessing dont use 4 yr old original seed?).
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Never delete a seed phrase folks, it costs only a couple bytes to store inactive seeds in a password manager.
I honestly think this is the best way to do it... Have heard of people misplacing them, or having someone send to an old address too many times...
Are you serious? You store your seed phrase on your computer? WRITE IT DOWN only!
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Hi!
A year ago you received this message : Can I use Ledger Nano S and Ledger Nano X ( different seed , 24 word recovery phrase ) in ONE Ledger Live app ??? and you said yes it's possible.
Now I ask you, as I have the same set up, why can I not open a new ethereum account ( It happens on both devices. ) or receive eth in the existing ethereum acount I've created a year ago in my nano S wich was my first ledger? I've got thhis mesage " sorry, connection failed - device detected but connection failed " PLEASE HELP
You can use multiple Ledger devices in Ledger Live, no problem.
Have you tried it with only one connected at all time? (Not both plugged in at the same time)
@@CryptoGuide First of all, thank you to be so quick to reply. Yes I do, I've never connected both in the same time. I could create other accounts in nano X ( my new ledger with different seed than the nano S ) like elrond, polkadot etc but ledger live doesn't let me install e new ethereum account. What I did then is to restore the seed phrase I had created at the beginning on my nano S. It's still give me the same error message in both devices. it recognizes the ledgers but doesn't connect. I also tried to remove the app ethereum and reinstall it, I've got the same error. Ledger live recognize the account ethereum I had installed a year ago but since I have created a new seed phrase for the nano X it doesn't let me do anything with ethereum.
Sounds like you should try another PC or phone
@@CryptoGuide My ledger live is installed on a clean and new MAC
Yep... I'm suggesting that you should try on a different system so that you can be sure that you are doing everything correctly. What you are describing should work perfectly fine unless there is an issue with your system.
Hi I have lost my recovery phase for my ledger but stil have my ledger live app could you help please
Do you still have the working Ledger associated with that seed? If you don't have the seed, or a working Ledger that produced that seed, the funds are unrecoverable.
@@CryptoGuide i have the working ledger just no seed
@@danndaman87 Get a new Hardware wallet , and transfer the funds to the new wallet , then reset the old Ledger and get the seeds phrase (safe keep them ) . now you have 2 wallets . i think.
RR RR is right, if you have the wallet working on the Nano and just don't have a backup, your best bet is to move all the funds off the wallet and then reinitialise the Nano with a new seed.
Hi,new to cold storage.Added xlm account no problem on ledger live but it won’t let me create an account for XRP.How is this possible?Thank U
So what happens when you select "add account" and select XRP?
@@CryptoGuide Hi,well I can’t open XRP on the nano,I see it’s there but it won’t open like xlm did
What does this mean? Can you open the XRP app on the Nano? (Have you installed it)
@@CryptoGuide yes I installed XRP app on nano s and I press both buttons to select XRP but it then just says view all apps
Have you tried removing it and reinstalling? Can you enter and exit the other apps ok?
I got a bech32 error when trying to sign in to my harmony account
When you say sign in, do you mean when trying to sign a transaction or trying to add the account to Ledger Live?
@@CryptoGuide thank you for the response... yes I have been able to sign into my account before for staking.. this morning I went ahead to add more from an exchange.. but when I did my ledger would reset every time I tried to sign into my account through their website. It would give me that error code and I was panicking. I hope I didnt lose access to my account.
That's odd, but it also looks like you need to be in developer mode to even use the harmony app in the first place. (or even sideload the hex file to your Ledger... crazy...) I would suggest that you contact the harmony folk and see whether there is an updated version of their app that you need to run.
@@CryptoGuide thank you so much for taking the time to respond
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my ledger x or Live is having problem loading manager... do you know how to fix??
It actually looks like a global outage, so it will hopefully get fixed tomorrow once the Ledger folk in France wake up...
Oh wow.. thats is good news!! I though it was just mine. Thank you for lifting this burden of mine.
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Ledger only has one dashboard for each seed. Bitfi wallet has no seed unlimited dashboards auto updates and its more secure than any wallet. I've got coins on a ledger I can't open it on Ledger Live because its connected to a different seed its driving me crazy fuck Ledger.
This just sounds like you are regurgitating bitfi marketing BS, so you should really look further... The bitfi is a massive downgrade from a ledger... If you want to ditch ledger, then trezor is probably what you want.
In terms of your ledger, it sounds like you have either been juggling multiple seeds, or enabled a passphrase at some point. What have you tried so far?
ledge nano s is such absolute crap
What makes you say that?
@@CryptoGuide for one it only has 156 kb of space for apps, bitcoin app is 44kb, ether is 48 kb and cardano is 68 kb, so just right there you can't even fit all 3 in. You have to go through the hassle of deleting and re-adding. This is not a cheap wallet, considering the price the capacity should be a lot larger. Also, it doesn't support a lot of popular alt coins and you have to go through 3pty wallets. The layout is crap to boot.
It's quite an old device now and before altcoins like Cardano were popular, there was plenty of room for apps, given most were simply BTC and Eth clones.