Course 18

Metamask to Ledger (short)

What you will learn:

THIS IS A GUIDE TO REMOVE YOUR PRIVATE KEY FROM ONLINE STORAGE AND INSTEAD PUT IT INTO THE LEDGER OFFLINE (cold wallet).

The video has you remove MM from chrome.

Most of you will shit your pant (like I did too), but this is necessary.

Someday your Chrome will crash and you will lose access to your MM anyway.

So, you better understand how things work now and take necessary measures.


When you remove MM, your funds are not gone.

Your staking is not disappearing.

Remember, all of that is stored on the blockchain.

The only subtle part is that you need to know your private key to access them on the blockchain!

When you remove MM, you remove the access to your wallet from the internet.

You remove the possibility for hackers to access your private key and validate transactions.

The video will help you remove the private key (seed phrase) from @Metamask and it will help you store it on the @Ledger instead.


Install ledger live (Chrome users)

https://ledger.com/start

Firefox and other browsers not necessary

Write down the public addresses of your accounts

You find this in Metamask. These are your different accounts in Metamask.

Plug the ledger

It can be brand new.

If it is not brand new, you can reset it. Be careful resetting it will erase any previously created seed and if you have funds on it, you will lose access to them.

Select Restore from Recovery Phrase

You will then need to chose a PIN code (write it down or remember it!).

Enter your Recovery phrase

Metamask is a 12 words phrase.

You should have somewhere on paper your Metamask phrase.

You can also find it in Metamask under Settings / Security& Privacy / Reveal Secret Recovery Phrase

- NOTE you will have 1 seed (private key) for all your account (public keys).

Enter words one by one

When you are done and the processing is finished, return to the main menu and go to next steps.

Connect Hardward Wallet

NOTE - first you need to go into Metamask "Settings / Advanced" and turn ON "Use Ledger Live".

Now click on "Connect Hardware Wallet".




Open the ETH app

Do this even though you are on Avalanche, Binance chain, or any other chain. The goal here is just to connect. You don't need to install all these apps on ledger - it is absolutely not necessary since the goal of the ledger is just to protect your seed. If you don't understand check the longer explanation.

Find your accounts

In a previous step, you took note of your public keys/account. Looks for them in the list and select them.

If you don't find all of them:

  • click on "click here"

  • change the ledger path from Legder Liver to BIP44 Standard.

  • Click Save

  • You should see all of them now.


IN THIS STEP WHAT YOU JUST DID IS YOU USED METAMASK TO CONNECT TO THE LEDGER AND YOU READ WHAT IS ON THE LEDGER. In our case, these are your accounts! How did they get there? Because you entered your seed in Ledger. Magic.

Remove Metamask from Chrome

Previously we checked that these accounts are accessible from Ledger.

Now you need to delete Metamask from Chrome. This will remove the seed phrase from online (this is what we want).


I know you are scared. Your funds won't get lost as long as you have the seed phrase on a piece of paper. Refer to the long post if you don't understand.

Re-install Metamask

metamask.io

Create a new wallet in MM

DO NO RE ENTER YOUR SEED PHRASE ONLINE


During process creation, you can keep the newly created seed phrase, though you will never use it.

Change a few settings

Once this new wallet is created:

  • go into Metamask settings / advanced, scroll to bottom and TURN ON Use Ledger Live

  • go to your Ledger settings and turn on "Bling signing".

Connect Hardware Wallet

Go back into Metamask. Click on "Connect Hardware Wallet".

Pick Ledger.

Ledger Live will open up. Click on "Open" to Expose Your device Accounts through WebSocket.


Look for your accounts

"Click Here" and change ledger path if you don't see your accounts.

Select BIP44 Standard.

Select your accounts and unlock.



Check Metamask

Now, when you go to Metamask, you will see the first previously created account, the one you will not use.

You will also see all the ones from your Ledger (your previous MM).



For now on, any transactions from the wallet will need to be validated physically from the device.

*** IMPORTANT ***

1. Common problems with @Ledger/MM: Make sure your @Ledger is up to date. Make sure your Live @Ledger (if using chrome is updated).

2. Firefox works well too. You only need Eth app on it (though ur wallet has multichain coins)



FAQ

1 . can I use same @Ledger live app for two hard wallets?

If you are talking about the software/application on the computer, I would assume so yes. @Ledger Live is only needed because of stupid Chrome. On firefox, the connection is direct, no @Ledger live needed.


2. Is there a way to transfer staked funds from a hot wallet to an already set up @Ledger? Do I have to unstake and transfer all those funds to the @Ledger?

If you already have funds on your @Ledger (meaning the seed phrase of your @Ledger wallet is on the @Ledger), then you can't add another seed on it. You have to pick one. You can reset your @Ledger and import the MM one too, but write down the @Ledger private key before reseting


3. original wallet address will remains the same? my @Ledger address will be from now same as "old" wallet?

YES


4. all assets in soft wallet will be moved to hard wallet?

No, no assets will move. Assets are stored on the blockchain, not on MM.


5. assets on all chains will be moved?

No assets from anychain will move.


6. Assets stacked on platforms will not be affected?

Correct. Since this is all happening on the blockchain with your public keys.


7. since i have the avax network with $time on MM will that have any affect on my balance or account since its a different network than ethereum?

No because your staking is happening on the Blockchain (where your wallet is), not on your MM or your @Ledger (where your seed/private key is stored)


8. so you don't have to move all your crypto to a new address when you want to use your @Ledger right?

Yes my friend. It's important to understand that no matter what happens to your Chrome, to your @Ledger or whatever device, your funds will always be safe and stored on the Blockchain via your seed phrase. All you need to do is never lose it


9. Is it possible to link a @Ledger to an existing @Metamask that was created without a cold wallet ? Do I need to use my @Metamask recovery phrase on the @Ledger to do that ?

Yes you can. You can remove the seed phrase from MM and input it into your @Ledger. This way, you are storing it off line and nobody can hack it. Once you've done that, you have to re create a random MM wallet, and import your @Ledger wallet. Video is on YT best thing ever done


10. I got a Keystone wallet but didn’t set it up because it doesn’t seem to recognize many of my tokens. Is there a better hardware wallet where I can store all of my Erc20 tokens?

I’m not familiar with that one but I can tell you that almost every hardware wallet doesn’t see every token, if you can connect to @Metamask with it you still have access to anything. I have stuff on my @Ledger that @Ledger doesn’t support but can still interact with


11. I’m not understanding how to get the seed phrase to the ledger? Was I supposed to use the MM seed phrase as my phrase during the ledger set up?

Yes, you are supposed to put MM seed phrase into the ledger. If you have create a new seed with your ledger when you launched it, then you will need to reset it, and when you restart, instead of creating a new one, indicate that you already have one and input the MM seed.