How to Receive Your First Crypto?

So you’ve just set up your Ledger device and got started on your crypto exploration. Receiving crypto is simple and straightforward on Ledger Live. It comes down to a simple couple of steps navigating and coordinating with your device and Ledger Live. 

Before You Start

• Download and install the latest version of Ledger Live onto your computer or mobile device. 
• Open Ledger Live, tap “My Ledger” in the bottom right corner, then select your Ledger device.
• Unlock your Ledger device with your PIN code.
• You will then see a notification in your Ledger Live app if an update is available.
  • More information on if your Ledger device is running the latest OS (firmware) version here.

Step 1: Add an Account

1. On Ledger Live, navigate to the ‘Accounts’ section.

2. On the accounts page, you can select the crypto asset you would like to add to your Ledger device. 

3. Once selected, click on ‘Continue’ and you will be prompted to verify adding the account with a physical confirmation using your Ledger device.

4. Once confirmed, you can add the account on your Ledger Live.
   

5. You will then see confirmation that the account has been added to your Ledger Live app and will also be able to view the account on your Accounts page.

Step 2: Receive Crypto

1. Open your Ledger Live app and select the crypto asset you want to receive.
   

2. On the next screen, press ‘Receive’. Keep in mind that any of your assets could have multiple accounts for them, so select the one you’d like to receive funds into.  

3. Next, you’ll see a screen where your address is displayed. For a secure, hassle-free transaction, it is always recommended to verify your address before you proceed. Click on ‘Verify your address’ and follow the instructions.

4. After this, you will be able to confirm your address by verifying if the one displayed on your Ledger Secure Screen or Secure Touchscreen matches exactly. It is recommended to check every character of the address for maximum security. If the addresses match, click on ‘Confirm’ to continue.

5. Now, you can copy the address directly from Ledger Live and share it with people, or paste it into wherever you may be receiving your funds from. For example, if you are receiving funds from an exchange, you can share the exact verified address.

Receiving Crypto on Ledger Live: An Example

As an example, let’s take a look at what this process would look like via an exchange like Kraken.

1. Navigate to the ‘Withdraw’ section on your exchange app.

2. Next, choose the same asset that you want to receive at the verified address on your Ledger device.

3. You will then be prompted to paste the verified address that you copied on to the exchange app interface. You can double check the address once more for added security.

4. Sending assets to blockchain addresses only work if both addresses are in the same network. Verify if the network displayed is for the asset you are preparing to receive on your Ledger device.

5. If all looks well, feel free to send your assets from the exchange to your address.

6. That’s it! You’ve successfully received your first crypto on your Ledger Live device. 

To check the status of your transaction, you can navigate to the Portfolio tab on Ledger Live and get an overview of all transactions made, as shown below.

Note: Sometimes, transactions may take a few days owing to blockchain congestion, so don’t panic if it doesn’t show immediately.

You can also check the ‘Accounts’ tab to check the updated balance for each of your assets and accounts in both, the native crypto balance and their fiat currency translations (USD, EUR, etc).

Quick Reference:

Take a look at some of the articles below to understand some of the basics to get you up to speed on all things regarding your Ledger device:

Ledger Secure Screens & Secure Touchscreens: Learn why verifying your transactions via your Ledger device is an important step while sending or receiving money.

1. Ledger Secure Screens (Ledger Nano S Plus/Ledger Nano X) – https://www.ledger.com/academy/topics/ledgersolutions/ledger-wallets-secure-screen-security-model
2. Ledger Secure Touchscreens – https://www.ledger.com/academy/topics/ledgersolutions/the-secure-touchscreen-secure-screens-for-ledgers-next-generation-devices