So, with news coming out what seems like every single day about crypto wallets, getting hacked and people losing millions of dollars, you may be wondering how you can store and trade your crypto in the safest way possible. So in this video, i'm gon na cover everything you need to know about the ledger: nano s plus how to set it up, how to send and receive crypto, as well as going over all the benefits to keeping your crypto in a cold storage wallet. Just like this, this guy right here so to give an intro to what ledger is as a company ledger is actually one of the leading cold wallet companies providing the highest level of security for your crypto assets. They currently have three options that you can choose from, and the newest device claims to be the new and improved ledger built to be defy and nft friendly.

But the question is: is it really worth even upgrading so on your screen here i have the ledger: nano x, the ledger, nano s and the ledger nano s plus - and this right here is the newest version. So if you didn't already know when you own cryptocurrencies, what you really own are private keys that unlock the right for you to spend the crypto in your wallet. Normally, when you buy and sell crypto on an exchange such as an example robinhood, the crypto that you purchase is actually never really your crypto. Yes, you have access to it through the brokerage on that app, but the crypto is truly owned by that exchange, which is lending it out to you.

Cold storage wallets just like this. Allow you to store your private keys in a physical, secure hardware, wallet in comparison to a cold storage wallet. We actually have something called a hot wallet where many of you guys may have heard of something called metamask, which is used more frequently, but there are disadvantages when you store your money on a hot wallet a lot of the times. It's really easy for it to get hacked and there are definitely a lot of vulnerable security breaches as well.

The best example i can give is think about it. Like banking, you have bank accounts that are accessible through your online physical banking app and then you also have a physical vault within the bank itself. Now, whatever you keep in that physical vault is going to be more secure than the online banking assets. This is because it's less vulnerable to an online attack, and if i wanted to access my assets, i would literally need to go to my bank show them my id or if i had a key to one of their vaults, then i would physically have to use That, in order to access my 100 million dollars that i have stored in the bank, it'd be cool.

If i had 100 million dollars stored in the bank, we are not there just yet jungies, but we will be there one day. So, in the same way, the ledger acts as that physical bank vault. It is far more protected than any online hot wallet and with that being said, there's actually what we want to talk about. This ledger nano s plus so overall, my first impressions of the ledger.

Nano s plus is: they did a phenomenal job, including a lot of extra goodies than they did before in the past. Here now, what i noticed immediately off the bat this is brand new. This is not something they had previously, and this is the secret recovery sheet. I actually used a random notebook and wrote down my secret words on here now.

It looks like they actually provide us this secret recovery sheet. As soon as i open this pamphlet, i'm gon na get a recovery sheet, and this states here your nano, will generate a unique list of 24 words during the setup make sure to copy each word correctly on this recovery sheet, never make a digital copy of it, And beware: anyone who has access to your recovery phrase can steal your assets. Keep it in a safe place. Never share with anyone and ledger will never ask you for it.

They got a oh cool. Little ledger nano keychain wow, so you can actually attach this to your keys and it feels like a braided cable right here - very high quality. So this is what you're going to use to plug it into your device. In here it's going to tell us: the instructions go to www.ledger.com start download, ledger, live and discover how ledger partners may help you buy, sell, swap grow your assets and more directly and securely from your nano.

So i've normally used the ledger nano x. It is one of their flagship models and i've been using it consistently for a while. This is actually what i still continue to use. There's a huge weight difference right off the bat between these two.

It feels like the ledger. Nano x is more premium while the ledger nano s, it does feel a bit more lightweight. Let me do the drop test. Maybe you can get an idea anyways, let's not break it, although this device doesn't feel as premier as the ledger nano x.

I do think this still serves its utility of being a beginner friendly, cold storage wallet that gets you security and it just gets the job done, keep in mind. The ledger is also not waterproof. So if you happen to be a scuba diver or you just like swimming in the water, to do your little crypto stuff, do not get it wet because damaging this device would mean you have to go back to your recovery sheet in order to get your crypto Back what we're gon na do next is now connect this to the computer and then go over exactly how this all works, i'm plugging in the lanyard cable right here and into that i'm going to be plugging in the ledger nano device. Let me cover my eyes, so the auto tracking doesn't go to me, i'm going to squint wow, somehow somehow it's working right here in my hand, this device right here this is the ledger.

Nano x, we're gon na plug that in blue, blue blue blue blah. All right guys so initially off the bat, it says: welcome to ledger nano s plus press the right button to continue we're to press that ledger. Live at ledger.com press right use buttons to navigate okay, very straightforward, so there's only two buttons. It can't get any more simpler than this.

It's going to ask me to set up as a new device so and i'm going to choose a pin with four to eight digits. Now. The next instruction it gives us is to write down our recovery phrase. It says your device will generate 24 words and they are your recovery phrase.

It's only your backup to restore your account if needed, very straightforward, write it down on your recovery sheet in the correct order and press both buttons to continue so press. Both buttons press left to verify your 24 words or press both buttons to continue. So then we just put a recovery phrase back into the device all right, so i went ahead and just inputted all of my actual phrase keywords back into ledger to confirm it. It's now states, your recovery phrase is set, keep it in a secure place if lost, stolen or forgotten.

All your assets will be immediately lost, never share with anyone. A ledger will never ask you for it. Press both buttons to continue your device is ready to go. Go to the dashboard and press both buttons, and here is the control center for the ledger, and i see that i have no apps on here.

I have install app and control center all right, so the very next thing that you want to do after setting up your ledger device is to actually open up a browser and to go onto the ledger.com start page. So this is literally stated here. Ledger.Com start, and it now says, download, ledger, live and start now. What i would go ahead and do is click download.

I would then download for the mac app and then once i have it installed we're going to move forward from there. So now my actual device is connected. I can go ahead and see the accounts on my current ledger device and you'll notice that there's zero dollars bitcoin, because it's a fresh new device and i can add, accounts or install different apps as well. So the way this works is i'll, just click add account.

If i want to get tether on here, i would add: the ethereum account it's going to load up on the screen and then on my ledger device. It's going to say, allow or deny i'm gon na press. Allow now you'll see that the app is installing on my screen and here on my ledger. It is also installing so now i can open up the ethereum app.

It is synchronizing with my current physical device and just keep in mind guys. I am adding and installing the apps of cryptocurrencies that i'm gon na store on here. Ethereum usd tether are two very popular ones, so ethereum is on here now, and this means that if someone wants to send me ethereum, i can do that because if someone sent it to my bitcoin wallet, i would not be able to get it. It will get lost in the shadow land of the crypto world so for each crypto asset that you want to manage.

You need to install its app on your ledger hardware wallet. So all the applications on your ledger device can calculate the private keys for your crypto assets. What they're also doing is they're actually verifying transactions and receiving addresses now to break that down in simple terms, pretty much the way it works is. If i want to send myself crypto or bitcoin, it is now gon na give me a address.

I think one of the best ways for me to show this example like. I will literally use it right now. What i'm gon na do is actually receive some ethereum. So right now i set up the ethereum application and it states please only send ethereum or ethereum tokens to ethereum accounts.

I open up the ethereum app by clicking these two buttons right here. I'll have the address for ethereum one, so i'm gon na press copy and then on the ledger device. I'm gon na be able to verify the address, see it and approve it by pressing both buttons. Now that the address is shared securely, all i would do is go into my meta mask and then i would go ahead and send to that wallet, we'll copy and paste it directly and how about we do swap it for ten dollars.

So uh we're going to be sending 13.61 in total, so it's actually accounting for it. We're gon na press confirm so i can see the transaction here. I can view it on the block explorer also known as etherscan, and we can actually take a look at how it's doing also man ethereum gas fees. They got ta calm down.

I spent i sent ten dollars to myself and i paid four dollars and 49 cents in gas. I paid a 50 transaction fee, basically keep in mind if you're, sending bitcoin or tether oftentimes. It's not this much uh. Sometimes it's still a bit, but it's not this much alrighty guys so within literally actually that took less than a minute.

I actually got my ethereum in my wallet if i load it up, it'll, say ethereum, ten dollars and we'll see it receiving in right now. Now, if i go into the main page, you'll notice, my balance of ten dollars and one cents officially now within this cold storage wallet. So i think people often assume, though, because this is a cold storage wallet - that if the money gets transferred onto here it's only on here and if you lost the device you're done, i want to remind you guys that is not the case. I could burn this device.

I could destroy it into a million pieces where i can't access it, but as long as i have this piece of paper right here, i can access this amount on any device. So out of all the different cryptocurrency wallets on the market, i've personally been using ledger for over the past four years, and i've had no issue at all with it. You might be asking yourself: why is having a cold storage wallet even important in the first place? Let me tell you, i actually use mine very frequently, all right, so one of the main reasons that i personally use a ledger: nano device or cold storage wallet. It's just because of my large nft portfolio.

My nft portfolio is worth around a million dollars and if i actually just have it sitting within a hot wallet and that hot wallet gets hacked, that money is gone, those nfts are gone and i'm not able to see it. If i'm able to move it over into a wallet, that's connected to my ledger device. That means, if someone tried to hack my nft wallet or my hot wallet, they actually need to go ahead and sign off on that transaction. Using this physical device right here, also on top of that, the crypto space is still fairly new.

Only 1.5 of the entire world currently owns some form of cryptocurrency, which, in comparison to the 60 of people who use the internet, is rather small. Now, owning a ledger adds another layer of protection where, if you intend to hold assets for a long period of time, you can definitely have more reassurance that they are in better hands. That being said, there's a ton of other cold storage options, and the reason i chose ledger is because i've been using them for a while, but through my experience in using them it has been more than phenomenal. If you guys watched my older videos literally, i have my ledger nano in there too.

I have not switched any teams just yet they have been treating me very well. They've been doing very well, and i know a lot of you guys who have been following me along on this channel, have been signing up for it as well, and i've been getting always very good feedback about these devices. On top of that, they also have a password, lock feature where you can password protect. Your ledger live app, so you are protected physically as well in case there's untrustworthy people around you now ledger also has a variety of different apps that they work with.

If i go into the discover tab on my computer, i actually can take a look at everything that they use so you'll notice that they have card zen ledger, which is a tax tool. They have moon pay. They have para swap alongside many different other tools. Coming soon, they're gon na add ave where you can lend or borrow your crypto through a liquidity market.

This pretty much means you can earn passive income uh on your crypto that is stored on your cold storage device, so that is passive income on one of the most secure ways for you to have your crypto held so like we mentioned earlier in this video there's About three different types of devices, out of all of these three, in my opinion, the best value does currently come from the nano s, plus the main difference between the s plus and the nano x. So the axis here, the s plus is here, is that there is a bluetooth connection for the nano x, and i do think this does feel a little bit more premium now in comparison to both of these the ledger. Nano s is also worth only 59. This one is more limited.

You can only store three to seven apps on here. While the ledger nano s for extra twenty dollars, you get way more crypto storage, you get a bigger screen, and on top of that, you can manage nft transactions on this ledger as well and then, finally, here we have the ledger nano x. This one here is still the one that i personally use it's worth: 149 dollars. It has bluetooth connection, you have 100 plus apps, but in terms of best value i do think if anyone's trying to get started - and you want to look for that middle tier - the s plus, is definitely the way to go.

If you're trying to go full blown crypto enthusiast, you can't go wrong with an x. I still prefer to use this one over the s plus at the moment now guys. Thank you all so much again for watching today's video on the review and full guide for the ledger. Nano s plus the biggest takeaway from this video is the fact that you never want to lose these pieces of paper.

You want to keep your crypto secure and as amazing as it is to have all your money on an exchange. Keep yourself backed up. I know a lot of you guys who are going to be my future millionaires watching this channel now need to stay protected. The best way that you can do this is to continue trading using devices like this, where you're holding those keys that allow you to have ownership of that wallet.

So if you guys did enjoy this full tutorial guide the work that i put in between it. Let me know down below in the comments and drop down below the secret phrase word, and that is going to be vault. If you guys are watching this. At the end of the video comment down below vault check out ledger down below in the description of this video as well, thank you to ledger for sending out these devices allowing me to review them and share it with my audience all right.

So, on top of that, if you guys want to go ahead and follow me over on twitter and on instagram, that is going to be linked down below in the description as well. I also have an exclusive discord group where you can get access to my buy, sell alerts, some technical analysis from some of our best advisors, as well as being able to check out my research and my portfolio if you guys want to check that out. Currently we are sold out, but we do plan on opening up some spots. So thank you all so much again for watching today's video.

Hopefully you guys get started on your device. You can get started with your crypto journey and i'll tell you this. It was very exciting for me to just set these things up and it just it made me feel, like a crypto investor, i don't know, there's just something cool about pushing two little buttons and seeing that money transfer, i thought it was fascinating if you guys enjoyed This video, let me know down below, have an amazing day and i'll talk to y'all soon, peace.