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GUIDE · HARDWARE WALLET
How to set up your first hardware wallet with Ledger Nano X
A practical self-custody example with Ledger Nano X — from first setup to your first verified Bitcoin address.
In Book 1, Alex learns about hardware wallets as a way to keep private keys isolated from a general-purpose computer or phone that is constantly online. Here, we take the next practical step using Ledger Nano X as a concrete example.
Ledger Nano X is not presented as the only option. We use it because it is a specific hardware wallet with official Bitcoin documentation. Exact buttons and labels can change with Ledger Wallet or Ledger OS updates.
What changes with a hardware wallet
With a software wallet, keys are managed on a general-purpose device. With a hardware wallet such as Nano X, private keys are generated and remain inside the device’s secure hardware, while critical actions are approved on its own screen and buttons.
Software wallet
You have self-custody, but the wallet runs on a general-purpose phone or computer.
Hardware wallet
Keys remain isolated on the device and confirmation happens on the device itself.
What you need before you start
- A Ledger Nano X from an official or authorized source.
- The current Ledger Wallet™ app — formerly known as Ledger Live.
- A computer or compatible phone.
- The recovery sheets or another secure offline medium for the 24 words.
- A few quiet minutes without following instructions from a stranger on a call or message.
Buy the device from a safe source
Ledger recommends buying directly from its official store or an authorized reseller. A new device should not arrive with a pre-set PIN or a recovery phrase that has already been written down. The phrase must be generated by your own device during setup.
Open the official Ledger Store
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Start with “Set up as new device”
Turn on the Nano X and follow the initial setup flow. For a new wallet, choose “Set up as new device”. The device will generate new private keys and then your own 24-word Secret Recovery Phrase.
Power on → Set up as new device → Choose PIN → Write 24 words → Confirm phrase
Create your PIN
The PIN protects physical access to the device. On Nano X you can choose a 4-to-8-digit PIN. Use one that is not obvious and do not store it together with the recovery phrase.
Record the 24 recovery words correctly
The device displays the 24 words one by one and then asks you to confirm them. Write them exactly in the correct order on an offline medium and check them again before finishing setup.
- No photo or screenshot.
- No Notes, email, password manager, or cloud drive copy.
- Never type them into a website or chat.
- Never send them to anyone claiming to be Ledger Support.
- Store the physical backup separately from the device.
Verify your Nano X is genuine, update Ledger OS, and install the Bitcoin app
Use the latest Ledger Wallet™ — formerly Ledger Live. Connect and unlock the Nano X, go to My Ledger, and complete the genuine check. If a Ledger OS update is available, install it before adding device apps. Then use the App catalog to install the Bitcoin app if it is not already installed.
Latest Ledger Wallet → Connect & unlock Nano X → My Ledger → Genuine check → Update Ledger OS if offered → App catalog → Bitcoin → Install
Add a Bitcoin account
In Ledger Wallet go to Accounts → + Add account, choose Bitcoin, and continue. When prompted, connect and unlock the device and open the Bitcoin app on the Nano X. Ledger Wallet uses Native SegWit as the default for a new Bitcoin account.
Accounts → + Add account → Bitcoin → Continue → Open Bitcoin app → Add account
Create a receiving address and verify it on the Nano X
To receive bitcoin, choose Receive and select your Bitcoin account. The critical step is to compare the address shown by Ledger Wallet with the address displayed on the Nano X screen. Approve it only if they match.
Receive → Bitcoin account → Verify my address → Compare on Nano X → Approve only if identical
Make a small test transfer first
Before moving a larger amount, send a small test amount to the verified Bitcoin address. Check the network, the first and last characters of the address, and the displayed fee again before confirming the withdrawal from the exchange.
Check the transaction on the Bitcoin network
After sending, you can take the TXID from the exchange or wallet and inspect the transaction in a block explorer. You never need a recovery phrase or private key to check a public Bitcoin transaction.
If the Nano X is lost or damaged
Losing the device does not by itself mean losing the bitcoin. If you have the correct backup, you can restore the same keys on a compatible new device. That is why the recovery phrase matters more than the hardware itself.
Frequently asked questions
Are the bitcoin stored inside the Nano X?
No. Bitcoin is recorded on the Bitcoin network. The device protects the private keys used to control the funds.
If the Nano X breaks, are the bitcoin lost?
No, provided you have a safe and correct Secret Recovery Phrase backup and follow a compatible recovery process.
Should I keep a digital copy of the 24 words?
No. The basic safe practice is an offline physical backup, not a photo, screenshot, cloud copy, or email.
Can I use a second-hand Ledger?
For a beginner, the safest choice is a new device from an official or authorized source. In all cases, never use a pre-set PIN or phrase provided by someone else.
How do I know my Ledger Nano X is genuine?
Connect it to the latest Ledger Wallet and complete the genuine check performed by the app. If the check fails or the flow looks different from the official process, do not move bitcoin to the device.
What is Native SegWit?
It is a modern Bitcoin address format that usually starts with bc1q. Ledger Wallet uses it by default when you add a new Bitcoin account.
Why verify the address on the device?
Because a computer display can theoretically be altered by malware. The address on the Nano X Secure Screen is what you should compare before approving.