Although Magnum Wallet is a multi-asset wallet, one of the most popular assets it supports is Tezos (XTZ) — a platform for decentralized application, which has exploded in both value in the past several months.
As a lite wallet, Magnum doesn’t require you to download the full blockchain of any of the assets it works with. Instead, Magnum allows you to interact with a variety of digital assets without syncing delays, making it suitable for those in a hurry.
Being a web wallet, Magnum has the additional benefit of being available for practically any platform, accessible from any device with an internet browser. Combining this with the security of the Ledger Nano S can make Magnum a powerful tool in any crypto aficionado’s chest.
To get started, you will need your Ledger set-up and ready to use, as well as access to an internet browser through which Magnum wallet will be accessed.
All set? Let’s dive right in!
Make sure to update your “Ledger Live” App from here:
Installing the Tezos App
Step 1: Securely storing Tezos (XTZ) on the Ledger Nano S is a relatively simple task that first begins with you installing the Tezos app on your Ledger.
To start, open Ledger Live and navigate to the ‘Manager’ section on the left.
Step 2: Here, you will be prompted to connect and unlock your Ledger device. To do so, plug your Ledger Nano S into your computer using an official Ledger USD cable. You will be prompted to enter your PIN code, doing so will unlock your device and automatically take you to the Ledger Dashboard.
Step 3: Once Ledger Live has detected that your device is unlocked, you will receive a notification on your Ledger asking you to ‘Allow Ledger manager.’ Click the right button once to confirm, this will again be detected by Ledger Live, which will automatically redirect you to the Ledger Live manager.
Step 4: Once Ledger Manager is open, scroll down, or use the search box to find the ‘Tezos Wallet’ app.
Now, install the Tezos app. You may be required to unlock your Ledger by entering your PIN to begin the installation process.
Connecting Ledger with Magnum Wallet
Step 1: To get started with Magnum Wallet, head over the to the official website: app.magnumwallet.co
Here, click the ‘CREATE NEW WALLET’ button to begin the setup process.
Step 2: You will be asked to protect your wallet using a secure password. We recommend using a long, complex password consisting of both upper and lower case letters, numbers and symbols. Once this has been entered, click the ‘NEXT’ button to continue.
Step 3: After creating your Magnum account, you will automatically be taken to the Magnum wallet dashboard. By default, Magnum does not automatically provide Tezos wallet, so we will need to manually add this in the ‘WALLETS’ section.
Step 4: Select the ‘Add wallet’ option, this will open a prompt.
Step 5: Select the ‘Create’ tab, and select the fields as shown below. This will allow us to create a wallet for Tezos (XTZ) using our Ledger Nano S as a source. Before clicking the ‘CREATE’ button, ensure your Ledger Nano S is connected to your computer and the Tezos wallet app is open.
Step 6: After clicking ‘CREATE’ you should notice a prompt on your Ledger, asking you to ‘Provide public key’. Click the right button once to confirm. This will be detected by Magnum wallet, which will then redirect to your hardware-based Tezos wallet.
When you see the below page, click the ‘DOWNLOAD BACKUP’ button to save a backup of your wallet — keep this in a safe place as it may be needed to recover your Magnum wallet later.
Step 7: After accessing your newly created Tezos wallet, you will find all the main features under the ‘Operations’ section. Here, you will be able to make payments, view your addresses, delegate your XTZ and more. Note that to perform many functions, you will need to confirm the action using your Ledger device, so keep this handy.
That’s it! After creating your Tezos wallet in Magnum, you’ll be able to login using your Ledger device by visiting the Magnum wallet website. Alternatively, if Magnum isn’t your thing, Galleon wallet might be closer to what you’re looking for.