Risks of Juggling Multiple Wallets in Ledger Live (Seeds, Passphrases, Devices or Re-initializing)

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manishkumars1976
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Ledger Live is a powerful wallet but it it's also important to clearly understand how it handles the situation where you might have multiple accounts from a range of different seed phrases, passphrases or devices. (Or simply what you watch out for if you reset your device) This can also be applied to any watch-only wallet, particulary hardware wallets which operate in this mode by default. (Like a Cold Card with Wasabi or Electrum, Keepkey with Shapeshift, Safepal) or those which give you the option. (Trezor)

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If you are new to Crypto, my suggestion is that you start with buying ~$150 worth of Bitcoin, Ethereum, Litecoin @ Coinbase and get familiar with storing it, moving it around, etc.

For your first purcahse, just stick with CoinBase: https://www.coinbase.com/join/5691c9d0a4c3a05dfa000151

For Trading, just start with Binance: https://www.binance.com/?ref=18111926

By sticking with large, reputable exchanges for your first purchase (Coinbase) and first trade (Binance) you can avoid getting scammed right at the start by purchasing a non-existing coin off a scammy exchange. (You would be surprised how many people fall into this trap)

Don't have a hardware wallet?
Be safe and buy them direct from the manufacturer. (Not just through some random on eBay, Amazon, etc)
Get a Ledger: https://shop.ledger.com?r=5243ecbb8427
(If you are just starting out, I would just recommend a Ledger Nano S)

If this was helpful, feel free to send me a tip:
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#bitcoin #btc #ethereum #eth #cryptocurrency #crypto #ledger #trezor #security
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Crypto Wallets
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