Beginners Guide to Ledger Live

If you’re using the likes of a Ledger Nano S, X, or their older model Blue, Ledger Live is the app you’ll need to manage your crypto. With Ledger Live, not only can you track, send and receive your assets but they have more recently integrated tools so you can buy and exchange your crypto from a single platform.

In this beginner’s guide to Ledger Live Manager review, I will explain what Ledger Live is, the features, integrations and how to download Ledger Live.

What is Ledger Live?

Ledger Live is an all-in-one application that lets you set up and manage your Ledger device. For beginner’s just getting started, Ledger Live users can buy their crypto or for those looking to diversify users can also swap and stake. Plus you can track your portfolio, send and receive from a single platform.

Ledger Live supports the Ledger Nano X, Ledger Nano S, and Ledger Blue via USB. Available for desktop on Linux, Windows and Mac. Plus they also have a mobile app available from the AppStore or GooglePlay.

Ledger Live Manager Download

Supported Cryptocurrencies

With Ledger Live you can send and receive 1,800 cryptocurrencies including Bitcoin, Polkadot, Tezos, Ethereum, and Ethereum based ERC20 tokens and more recently BNB and Binance Smart Chain tokens (BEP20).

How to Download Ledger Live

To download Ledger Live Manager navigate to; https://www.ledger.com/ledger-live

Click onto “Download”

Select the version you would like to install/update and let the file download.

Ledger Install Live Manager

Once downloaded, double click onto the file and follow the steps (these will vary depending on your operating system).

You will then be prompted to replace your current version if you have Live Manager already installed.

Launch the application and enter your credentials.

Ledger Live will then be installed on your machine.

How to Buy/Sell with Ledger Live

Ledger Live has partnered with Coinify and Wyre so that users can buy and sell the likes of Bitcoin, Ethereum and Polkadot without having to leave Ledger Live.

When buying crypto through Ledger Live, your crypto is sent direct to the address created by your Ledger wallet. This ensures that your crypto is kept safe and secure from the instant you purchase.

How to Swap with Ledger Live

For users who already hold crypto on their Ledger hardware devices and are looking to diversify, Ledger Live has a swap function. With Swap use have a single place to securely exchange more than 50 different assets.

Crypto exchanges can be a prime target for hackers with so many assets stored. Plus when you use an exchange, they own the key to the addresses they give you. Meaning you don’t really own the assets, and the exchange can limit what you can do with your crypto. However, with Ledger, access to your cryptocurrencies is completely offline and out of reach for hackers. Not only is the solution secure, but so is their Swap feature, with no swap taking place without your manual consent. Any assets that you swap, are immediately in your own possession and completely in your control since you own your Private Keys.

WIthin Ledger Live, users can use swap their tokens using partners Changelly or decentralized aggregator Paraswap. With future plans to also include 1inch DEX aggregator too.

Ledger Live Lend

The Ledger “Lend” feature, gives you access to the Compound lending services, directly through Ledger Live. The Ledger Live and Compound integration enables you to lend your DAI, USDT, or USDC and earn interest for it. Lending is yet another way to grow your digital assets and you can lend cryptocurrencies to borrowers in exchange for interest payments.

There are also future plans to include Aave for lending and borrowing services.

Ledger Live Staking

If you are looking to stake your tokens, you can use Ledger Live to do so. At the time of writing this Ledger Live Review, you can currently stake Polkadot, Tezos, Tron, Cosmos, and Algorand.

Plus you can also stake with their Lido integration. With Lido, you can stake any amount of ETH to ETH2.0 and earn daily staking rewards.

Ledger Live Manager

The manager within Ledger Live allows users to manage the apps that they hold on their devices.

You will also be prompted if your apps are out of date. This means you’ll be safe in the knowledge you’re running the latest versions so that your apps include the latest bug fixes and security features.

As well as this, you can also see how much space each app is using. This will really help in managing your storage better and help you to prioritize to meet your needs so that you can remove any unwanted content.

Ledger Live Bridge

Since the Google Chrome update (Chrome 91) third-party wallets such as MetaMask have experienced U2F (Universal 2nd Factor) transport issues. This issue has also affected the popular browser Brave, which is based on Chromium.

As a fix, Ledger has released the Ledger Live bridge. This allows third-party wallets such as MetaMask to easily connect to Ledger.

Some users have received ¨Internal JSON-RPC error¨ when trying to connect MetaMask to Ledger. If you have, you can check out our guide on how to resolve this issue.

LouiseElizabeth

Louise created the Every Bit Helps YouTube channel back in 2017, after finding the process of buying Bitcoin difficult. Therefore, in an aim to help others, she hopes that her tutorials will make the process of buying, selling and storing crypto a lot easier for newbies in the future. After spending 20 years working in London in cyber security, she left the corporate life after having her second child in 2018. Louise now travels the world with her two small children trying to make the most out of life.

8 Comments
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  1. Love it.
    Very helpful, informative website.

    Thank you

  2. Hiya! love your youtube videos – I am stuck on getting Doge out of uphold onto my ledger nano – please help as neither uphold or ledger are responding to my enquiry of how to do this – uphold is not asking for the wallet address and I don’t know what to do to ensure the money is being ‘sent’ to my ledger wallet

  3. hi do i need to install changelly to Use sawp on my nano s i Swapped xrp for usdt and now I want to swap Them back to XRP but I get a message saying THE ETH BALANCE IN THE PARENT ACCOUNT IS INSUFFICIENT FOR NETWORK FEES There is over 4000 usdt In my accounts I don’t Get it Can you help Please thanks

  4. Is KYC needed to finalize the swap/receive the coin?

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