Since its creation in April 2014, Monero has quickly risen to become the world’s most popular privacy coin, and is widely considered to be truly anonymous and fully fungible, thanks to its untraceable Ring Confidential Transactions.
In late 2018, Ledger implemented support for Monero (XMR), allowing Ledger Nano S owners to benefit from the security and privacy offered by the open source cryptocurrency. Besides Monero, the Ledger Nano S is also compatible with a large variety of other privacy coins, including Zcash (ZEC), Bitcoin Private (BTCP) and DASH.
To use your Ledger Nano S with the Monero GUI, you will need to have the latest version of the Monero GUI wallet installed, this can be downloaded from here
Make sure to update your “Ledger Live” App from here:
- A Ledger Nano S hardware wallet
- Ledger Live installed on your computer
- Original Ledger USB cable
- Monero GUI wallet
Install the Monero App
Step 1: To begin managing your Monero on your Ledger Nano S, you will first need to install the Monero app. To do this, you will need to open the Ledger Live software on your computer and navigate to the Manager section by clicking either ‘Open Manager’ if available, or ‘Manager’ in the left panel.
Step 2: After navigating to the Manager section, Ledger Live will begin checking whether your Ledger device is plugged in and unlocked. When you see the below screen, plug your Ledger into your computer and unlock the device and navigate to the dashboard by entering your PIN. This should be automatically detected by Ledger Live software.
Step 3: Once you have unlocked your wallet, you should be prompted to ‘Allow Ledger manager’ on your Ledger device. Once this screen is visible, click the right button to confirm. Once confirmed, you will be automatically redirected to the Manager section of Ledger Live, where you are able to install new apps.
Step 4: In the Ledger Manager, you will need to search for the Monero app in the app catalog. To do this, type Monero into the search bar. This will automatically filter the Monero app from the list of available applications.
Step 5: Next, you will want to click ‘Install’ next to the Monero app, in the below image. After clicking ‘Install’ a new window should pop up showing the installation progress. Note that you may be prompted to enter your Ledger PIN on your device during this time, you may need to enter this to begin the installation process. Installation should complete in less than 30 seconds.
Step 6: Once the Monero app is installed on your Ledger, you will now need to open the Monero GUI wallet software on your computer, and select the ‘Create a new wallet from hardware device’ option
Step 7: In the next window, enter a memorable wallet name in the ‘Wallet name’ field, select the ‘Create a new wallet from device’ option, enter 3:100 in the subaddress lookahead field and make sure Ledger is selected at the bottom.
Step 8: Ensure your Ledger Nano S is connected to your computer, unlock your device using your PIN and open the newly installed Monero app. Once this is done, click the ‘Create wallet’ button on the bottom right of the Monero wallet GUI.
Step 9: You will then receive a prompt on your Ledger device asking to ‘Export View Key’. If you choose yes, this will make identifying your transactions much faster, but can reduce your transaction privacy if your PC has been compromised. Select no if you want maximum privacy.
Note that you may have to press the button twice to confirm your selections when using the Monero app.
Step 10: After making your selection, you will be asked to provide a password for your new wallet. Select a password that only you will remember, ensuring it is as long and complex as possible to prevent it being cracked, and click ‘Next’ when complete, before clicking ‘Open wallet’ to complete the setup process.
Step 11: After creating your wallet, it should begin automatically synchronizing, depending on your internet speed, this should take several minutes. Once fully synchronized, you will then be able to use the wallet and all of its features.
To access your Monero wallet in future, you will need to connect your Ledger Nano S to your computer, unlock the device using the PIN, and open the Monero app before attempting to access your wallet through the Monero wallet GUI. You will need to confirm whether or not to store export the View keys each time you access your wallet.
Do you also want to use other privacy coins with your Ledger Nano S? Check out our tutorial for installing new apps on your device, or head straight to the Zcash setup tutorial to help make the most of your hardware wallet.