After buying Ledger Nano S hardware wallet, you should transfer your Bitcoin from your exchange to your Ledger wallet ASAP. If you’ve bought your Bitcoins from Coinbase, a prominent Bitcoin exchange, then for your information, it is one of the best cryptocurrency exchanges across the world. But it’s not suitable for day to day Bitcoin transactions and for HODLing because of high transaction charges and security concerns. There is no doubt that this exchange is one of the safest exchanges but we can’t deny the fact that it’s vulnerable to hacking. Therefore, for long term holding, paper wallet, software wallet, and hardware wallet are best solutions. If you want to store your Bitcoin in a place where you can easily use them for day to day transactions then hardware wallet is best for you. A hardware wallet stores your private keys safely and lets you make transactions safely. In this post, I’ll be showing you how to send Bitcoin from Coinbase to Ledger Nano S wallet.
How to Send Bitcoin from Coinbase to Ledger Nano S Wallet
Note: You can also read this post to send Bitcoin from Coinbase to Blockchain.info or any other wallet address. Just enter wallet address to which you want to send Bitcoin at the place of Ledger wallet address.
Ledger wallet is very easy to use. You can readily move your Bitcoin to Ledger Nano S. To send Bitcoin from Coinbase to Ledger Nano S, first you’ll need to setup a Bitcoin wallet on your Ledger Nano S. So, let’s first setup Bitcoin wallet on our device.
How to setup Bitcoin wallet on Ledger Nano S –
First of all, visit official Ledger wallet apps page. After landing on the page, scroll down and click on Ledger Nano S from the list of devices.
Again scroll and click on Install Bitcoin Wallet. Note: If you’ve not installed Ledger Manager app yet then install it also.
Next, click on “+ Add to Chrome” and then click on Add App button.
That’s it. We’ve successfully installed Bitcoin wallet on our Ledger wallet. Now, next step is to access our wallet address to receive Bitcoin on it.
Steps to send Bitcoin from Coinbase to Ledger Nano S-
Open a new tab on Chrome browser and on the top left corner, you can see Apps icon. Simply, click on it and then you’ll be able to see all installed apps on your Chrome browser. From your apps, open Bitcoin wallet app.
Now, to access your Bitcoin wallet, you’ll need to connect your Ledger Nano S to your computer.
Just grab USB cable and Ledger device and connect them to your computer. After connecting the device, first you will need to enter your PIN to unlock your device. Thereafter, use left and right buttons of your Ledger Nano S and highlight Bitcoin app and then press both buttons together to open the wallet.
Next, click on Bitcoin. (From your computer)
On the next page, you’ll be asked to select your address type. You’d select SEGWIT or you can click on “I DON’T KNOW” to let Ledger automatically set best address type for you.
Now, click on Receive to reveal your Bitcoin address.
Copy your Bitcoin address appearing on your computer screen to send Bitcoin from Coinbase to Ledger Nano S.
Now login to your Coinbase account and click on Accounts tab. Then click on Send button under BTC Wallet.
Enter Bitcoin address of Ledger Nano S in the recipient field then enter amount either in USD or BTC. Note: First send a small amount to your Ledger Bitcoin address. Note field is optional, however, you can enter some text. After entering all the information, hit Continue button.
In the next step, you’ll be asked to enter two-factor authentication code; if enabled. After entering the code, press Confirm button.
That’s it. You’ve successfully sent Bitcoin to Ledger Nano S. Now, go back to your Ledger wallet and see whether you’ve received Bitcoin or not. Usually, it takes 5 minutes to 24 hours. Once you receive your Bitcoins then move all of your Bitcoins to your Ledger wallet. Note: You can create more than one Bitcoin wallet address on your hardware wallet buy clicking on “Add An Account”.
Above steps will help you send Bitcoin from Coinbase to Ledger Nano S. If you’re facing any problem then feel free to ask in the comment box.