City of Zion (CoZ – an independent group of open source developers, designers and translators formed to support the NEO blockchain) launched a NEON Wallet which is compatible with the Ledger Nano S. If you own a Ledger Nano S, you are able to use the NEO Ledger application which was added at the end of October to the Ledger Manager.
Members of City of Zion announced that it was a massive team effort led by Coranos for the development of the Ledger application; Unignorant, Evgeny, Bjornberg and Shawn for integration Neon; as well as the support of the NEO Board for negotiations with the Ledger team.
NEON wallet is a verified wallet to store NEO tokens. Users who hold NEO are eligible to collect passively generated GAS. NeoGas (abbreviated symbol GAS) is the fuel for NEO’s network.
The great news for NEO hodlers is that they can also claim GAS from the new feature.
This tutorial is made for those who want to keep their NEO tokens secured and preferably with hardware wallet.
About Ledger Nano S
According to its web site, Ledger is a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications. Headquartered in Paris, Vierzon and San Francisco, Ledger has a team of 80 professionals developing a variety of products and services to safeguard cryptocurrency assets for individuals and companies – including the Ledger hardware wallets line already sold in 165 countries. It was founded in 2014.
They sold more than 1,000,000 pieces, all over the world, of the their most popular hardware wallet called Ledger Nano S. It is a light, but very solid multicurrency hardware wallet for cryptocurrencies. The Ledger Nano S is easy to carry everywhere thanks to its USB format. It has a small screen for payment validation and can be connected to any computer via USB.
The goal of hardware wallets such as Nano S is to secure your private keys from your computer or smartphone, which are easily hackable, in order to protect your digital currencies. You can then send / receive payments and check your accounts, without taking the risk of losing everything.
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The hardware wallets operate with their own cryptocurrencies interfaces: the Ledger Apps, which are free Google Chrome applications. They are also compatible with a wide range of other interfaces, including BitGo, Copay, Electrum, GreenBits, Mycelium, or MyEtherWallet, and are open source so anyone can build their own applications.
Nano S supports directly 13 popular cryptocurrencies such as BitCoin, BitCoin Cash, BitCoin Gold, Ethereum, Litecoin, Stellar and many more via third party apps.
The loss or destruction of a hardware wallet like the Ledger Nano S does not mean funds are lost forever. To the contrary, funds may be restored with another Ledger Wallet or BIP39 compatible software wallet.
Using NEO wallet on Ledger Nano S hardware wallet
After you have purchased and unboxed your Nano S, go to start.ledgerwallet.com and follow the instructions on the screen to choose a PIN code and save your recovery phrase before moving forward. After that, install Ledger Manager (requires Chrome browser or Chromium) from the Ledger Wallet web site. Your Nano S, must be updated to 1.3.1 firmware at least. Then connect your Nano S, enter your PIN obtained in previous step, and stay on the dashboard. For each action made with the Ledger Manager, a confirmation will be required on your device as a signature.
Next step is to install NEO application on your device through the Ledger Manager. Click on the green bottom arrow icon near the Neo logo. NEO is one of the coins supported by Nano S.
Confirm the installation if required on your device. Quit the Ledger Manager and open your Neo application on your Ledger device and the screen should show “Wake Up, NEO…”
You will not be able to interact with this app without a Neo client wallet. You will have to download a compatible NEON wallet. You should download version 0.0.7 or greater. Current available version is 0.1.2. After the download, open your NEO wallet and open your Nano S NEO app and the screen should show message „Wake Up, Neo…“.
On your NEON client, click on Login using the Ledger Nano S. In the next step, you will see the message that says “Found USB Ledger Nano S Success. NEO App Found on Hardware Device. Click Button Above to Login”
Click on the “Use Ledger Nano S” to open your wallet from the client. You can use you wallet as shown below.
Your public key will be secured in your NEON wallet and now you can transfer your GAS and NEO to the new address. As soon as you receive GAS or NEO you can transfer it using the “Send” button at the top or “Claim GAS”.
These functions will require you to click on the buttons on the ledger device to authorize the transaction. You will have to click buttons on the Nano S as shown on the picture to sign a transaction.
To take a look at the transaction details, you will have to click single button.
And if you wish to deny the transaction, click single buttons to navigate to the “Deny TX” screen, then click both buttons at the same time to deny the transaction.
It is important to note that there’s a limit of 3-4 apps on your ledger so choose the apps you want wisely. If not you can buy another ledger to serve as backup + other coins.
Now you can store your NEO and GAS safe and secure on Ledger Nano S hardware wallet. You will be securing your private keys from your computer or smartphone, which are very exposed to hacking incidents. You can even send / receive payments and check your accounts, without taking the risk of losing everything.
Additionally, the loss or destruction of the Ledger Nano S does not mean funds are lost forever. To the contrary, funds may be restored with another Ledger Wallet or BIP39 compatible software wallet.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com