In this post I will describe how to create Ledger Live account. In compare with accounts created on websites there are no needs to provide an email address and password. On this way your crypto asset is more secured than accounts created on different websites, especially in compare with accounts created on crypto trade and exchange platforms. All you need to get access to your crypto is physical device – Ledger hardware wallet. There is no fear that some hacker will get access to your email and steal your crypto. Every single transaction needs to be confirmed with ledger hardware wallet. Keep reading and I will describe in details how to create Ledger Live account. If you dont have a hardware wallet yet I recommend to read my post How to use a hardware wallet where I described where to buy a hardware wallet and how to set up as new device. This is required to be able to create accounts inside Ledger Live.
How to install Ledger Live application?
After you done basic steps with hardware wallet you need two more steps before you are able to create accounts inside Ledger Live. Firstly you need to download and install Ledger Live application and after that you need to install different applications on hardware wallet. I recommend to do it on computer or laptop but you can use mobile phone if you have Ledger Nano X. Ledger Live download section on the Ledger official website is here.
After you have downloaded Ledger Live application you need to install it. It is very simple just as for any other program. After you done with this you are ready for the next step – install applications for different cryptocurrencies on hardware wallet.
How to install application on hardware wallet?
You need to open Ledger Live application, turn on your hardware wallet and confirm access to Manager. Then you will see a screen with different applications. For example if you want to create an account (wallet) for Bitcoin inside Ledger Live – you need to install BitCoin application. For every cryptocurrency you need to install different application. Later every action needs to be confirmed with application. When you will create, send or receive Bitcoin you need to open and confirm with BitCoin application, for ETH with Ethereum application, for LTC with Litecoin application and so on…
How to add an account inside Ledger Live?
After you have installed required applications on hardware wallet you are ready to create (add) accounts inside Ledger Live. In this example I will describe how create a BitCoin account (wallet).
First step is too choose crypto asset. You need to click on the Accounts and then on the Add Account button inside Ledger Live application.
On the next screen you will see information that you need to connect your hardware wallet and open BitCoin application inside hardware wallet. After you done this on the next screen is information about account name.
After you click on the Add account button you are done and successful information will be visible.
On this way you can add accounts for different cryptocurrencies. If you want to create different accounts for the same cryptocurrency (for BTC in this example) you need to have different hardware wallets or set up different seed inside the same hardware wallet what I will describe in the next section.
How to create multiple accounts for the same cryptocurrency?
There is no limit how many accounts for different cryptocurrencies you can create inside Ledger Live. You can use the same hardware wallet with same seed, use different hardware wallets or you can set up a new seed for existing hardware wallet (by creating 25th word). That means different people can use the same Ledger Live application on the same computer or laptop but using different hardware wallets or the same hardware wallet with different seeds (different 25th word). On this way there is no fear for crypto assets because every account action such as creation, sending or deposit address confirmation needs to be confirmed with different hardware wallet (synchronized with specific account) or by entering 25th word (temporary passphrase).
There is an option as I mentioned to create multiple accounts using just one hardware wallet. To do this you need to enable advanced security with 25 word seed instead 24 word seed (using temporary passphrase). In this case hardware wallet and crypto asset are even more secured. To get access (sign transactions) 25th word is required. For hardware wallet restore 24 words plus additional 25th word are required. You can split your crypto asset to different accounts especially if you are active on DeFi platforms. This is also good way to secure your crypto asset if you use Metamask wallet. More information is available inside post How to protect Metamask wallet.
I hope this information is useful for you. If you have any questions, doubts or suggestions feel free to place a comment.