Ledger Start - Secure Your Crypto

A concise presentation covering hardware wallet basics, safe setup, day-to-day use, recovery best practices, and institutional considerations.

Overview

This presentation explains how to start with a Ledger hardware wallet and keep your cryptocurrency secure. It covers step-by-step setup, threat models, safe usage patterns, recovery phrase handling, firmware hygiene, and recommended operational procedures for both individuals and teams.

What is a hardware wallet?

Definition

A hardware wallet is a dedicated device that stores private keys offline and signs transactions inside a tamper-resistant environment. The device isolates secrets from internet-connected computers, reducing risk of remote theft.

Why use one?

Buying and receiving a Ledger

Purchase safely

Buy directly from the official vendor or an authorized reseller. Do not buy second-hand devices or accept a wallet from an unknown person — those could be pre-compromised.

Out-of-the-box checks

When you open the box confirm tamper seals, the official packaging, and that the device shows the manufacturer boot logo on first power. Follow the vendor’s onboarding guide rather than third-party walkthroughs to avoid scams.

Initial setup (step-by-step)

1. Initialize the device

Set a secure PIN directly on the device. Never enter your PIN into software on your PC or phone. Choose a PIN you can remember but that is not easily guessable.

2. Create/recover a seed

Write the recovery phrase (seed) on the provided card or a metal backup. Never store the phrase digitally (photos, screenshots, cloud). Confirm the seed by completing the device’s verification.

3. Install Ledger Live

Use the official Ledger Live application to manage applications and accounts. Verify you downloaded the app from the vendor’s official site before installing.

Day-to-day operation

Transaction flow

Create transactions in your host app, then confirm transaction details on the device’s screen and approve directly on the hardware. This prevents man-in-the-middle or malware from silently changing transaction recipients or amounts.

Best practices

Recovery & backup

Handling your seed phrase

Your recovery phrase is the single most sensitive item. Store it offline, ideally on durable metal backup plates that resist fire and corrosion. Consider geographically distributed backups for large holdings, with multi-person access policies where appropriate.

Do NOT:

Threat model & mitigation

Common threats

Phishing sites and fake software, compromised host machines, supply-chain attacks, and coercion or social engineering. Hardware wallets mitigate many remote risks but not physical coercion or poor seed handling.

Mitigations

Advanced topics

Passphrases & multisig

Consider adding an extra passphrase to your seed (BIP39 passphrase) for plausible deniability or account separation. For institutional-grade security, use multisignature wallets across independent devices and custodians.

Compliance & auditing

Maintain logs and rotate policies; keep validated backups; and perform periodic test-recoveries (in a safe environment) to verify backup integrity without exposing secrets.

Common mistakes & setup checklist

Checklist before first use

Remember

Security is layered. Hardware wallets are critical but not a silver bullet — combine them with secure practices, physical protection, and good operational hygiene.