HOW TO BACK UP A LEDGER NANO S
by Colin Aulds
Most of the people that create their cryptocurrency wallet for the first time do not know what to do with the seed words. Doing a proper backup of your Ledger Nano S hardware wallet’s recovery seed is a extremely important, and an often neglected step. If a Ledger user accidentally breaks or loses the device, having an accurate backup gives them the access to the otherwise lost funds.
When setting up a Ledger device, the user is shown 24 random words which are the seed words. The seed is the actual “password” to unlocking and recovering the cryptocurrency portfolio on other devices if something happened to the main device. It is extremely important to save the seed somewhere safe, advisably not on an electronic device but rather on a stainless steel backup device.
Required Items In Order to Backup a Ledger Nano S
In order to properly backup a Ledger Nano S hardware wallet, the user has to have:
- A Ledger Nano S
- A USB cable
- A computer
- A Billfodl
Backing Up the Wallet
To backup a ledger, we need to initialize it first and make sure Ledger Live is downloaded and up to date.
Download Ledger Live by going to this page.
If you already have Ledger Live downloaded, make sure Ledger Live is up to date.
Initializing the Ledger device
Warning: Never show anyone your 24 word recovery phrase. If someone sees it, they can take your coins. The whole point of the recovery phrase is that anyone can input it into any wallet and regain access to the coins in the public address tied to it. The recovery phrase is just a private key translated into a standard called BIP39. For all intents and purposes, you need to treat the recovery phrase as the right to own the coins it belongs to.