- 1 Ledger Nano S Neo: Equivalent to Ethereum
Ledger Nano S Neo: Equivalent to Ethereum
The Ledger Nano S Neo is a successful and eagerly awaited complement to the Neo cryptocurrency. Neo digital money is the Chinese equivalent to Ethereum that’s now available for the Nano S. The Chinese government has a negative attitude towards cryptocurrencies and have gone so far as to ban them.
Nonetheless, positive change followed thereafter. Now, almost everyone is talking about the Neo and are enjoying its increased popularity. It stands to reason that users of Neo currency want to use the Ledger Nano S hardware wallet.
Ledger SAS, the French manufacturer of the Nano S, therefore integrated the Neo into their Ledger Manager app. Despite the integration, you will still need to download an external wallet to fully access Neo. The following instructions detail how you can configure your hardware wallet into a Ledger Nano S Neo.
Ledger Nano S Neo: Preparing Your Hardware Wallet
To use Neo cryptocurrency with the Ledger Nano S, it’s necessary to set your device up correctly. This procedure is essential when you first begin to configure your hardware wallet. If you already have a Ledger Manager and other wallets installed, you can skip the following section.
Creating Recovery Passwords
When you turn on the device, you will be asked to enter a PIN. You can enter these with the two device keys. Every single number and the entire PIN must be confirmed by pressing the two buttons at the same time.
When you have successfully confirmed the PIN when prompted, you’ll have to record the recovery words. To do this, you can use the included recovery sheet. The Ledger Nano S outputs twenty-four words in the order of their respective positions on the list.
Write the words in the correct place on your list and safely store them afterwards. If you ever need to restore your Ledger Nano S, you will need to refer to these details. At the end of this step, the device will ask you to enter multiple recovery words.
This additional verification measure ensures that users create a valuable list. Use the keys to complete your entries and the confirmation process. If everything is correct, the Nano S will report that it is ready for operation.
Nano S Neo: Ledger Manager and Wallet Installation
Alternatively, if you power up a pre-configured and ready-to-run Ledger Nano S, then the first step is to make a selection. The options presented will be the reinstallation or restoration of your wallet. In the case of a recovery, you will need the recovery list.
If you opt for reinstallation, you can go online and navigate to the manufacturer’s website from your computer. From there, you will find an ‘Apps’ tab that you can click that will show you an overview, from which you can select a wallet to download.
Alternatively, you can opt to install the Ledger Manager first. Click on Ledger Manager and choose whether you want to install the program in Google Chrome or Chromium. When the installation is complete, open the Ledger Manager and you will see a list of installable wallets.
Search for Neo and then click on the appropriate installation arrow. The installation has to be confirmed on the Ledger Nano S that is connected via the supplied USB cable. The wallet installation process is relatively quick.
In the case of other cryptocurrencies, you would be finished with the installation process upon reaching this stage. However, with the Neo, an additional installation step is necessary.
Ledger Nano S Neo: Installation of the Wallet
For this installation step, you will need the NEON Wallet. NEON wallets are an open-source hardware that’s specifically designed for the Neo blockchain. They are available for Windows, Mac OS, and Linux.
If you do a search for NEON Wallet on Google, you should see the corresponding download page. The wallet is quick to download and easy to install. After the installation has finished, click on the NEO icon and start up your wallet.
On your Ledger Nano S, you will see a message on the OLED display that says, “Wake up, NEO”. On your computer, select “Login using a Ledger” while the NEON app is still open. On the next screen, you will see a confirmation message that your wallet device is connected via USB.
To log in permanently, you should click on the provided button. If successful, the display will indicate that you have arrived in the NEON wallet and then you can directly manage NEO and GAS. It is a good idea to browse the wallet menus, which are fundamentally similar to other digital money wallets.
Ledger Nano S Neo: Sending and Receiving Tokens
You can now access your wallet with ease. After your NEON wallet is started and connected to your computer, you can log in as detailed in the steps above. As with other cryptocurrencies, anyone will be able to send you coins if they’ve previously obtained your public address from you.
To send coins, enter the recipient’s address. As always, with the Nano S, send transactions must be confirmed directly on the hardware wallet control buttons.
Both NEO and GAS tokens operate with the wallet. Tokens in the NEO blockchain represent shares you have purchased, while GAS tokens indicate dividend tokens received from shares. It is possible to store, send, and receive both types with the Nano S Neo. Now that you have everything set up for your NEO, let’s hope that this cryptocurrency continues to develop positively.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.