How to own your crypto

How can Ledger products help you manage crypto assets securely? What does it mean to own crypto assets?

Take control of your private keys

Owning crypto assets comes down to managing your private keys. To first receive your assets, you request a transaction to a public address created from your private key. To spend the crypto assets, you digitally sign a transaction using your private key as well.

By using a service that holds your crypto assets, you are putting trust in the service to keep the private keys secure from theft and to send your crypto assets when you request so. As long as you’re not managing your own private keys, you don’t really own your crypto.

Manage your private keys. Securely

Ledger hardware wallets enable easy and secure private key management. When you set up your device, a unique master private key is created by Ledger’s secure hardware and software. As all your private keys and public addresses arise from your master private key, you can manage many accounts and crypto assets with a single device.

You transact by verifying and signing transactions on the device. To withdraw from an exchange, you request your crypto assets to be sent to a public address provided by your hardware wallet. That’s how you become the legitimate owner of your crypto.

Save the recovery phrase, it’s your only backup

When setting up your Ledger hardware wallet, it will provide a 24-word recovery phrase for you to write down carefully. This is the only backup of your master private key. It allows you to restore your master private key if you can’t access your hardware wallet.

You must write down your 24-word recovery phrase precisely and in the correct order before storing it securelyNever enter your recovery phrase on any other device. Anyone who gets your recovery phrase can take your crypto assets. Ledger does not store your private keys, nor ever asks for it.

  Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly. Learn more
Own your crypto with a Ledger hardware wallet
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