For months, people have been warning me about crypto security and telling me I have to start using cold storage for my cryptos and getting them off the various exchanges I have been leaving them on.
I ordered a Ledger Nano S and it arrived last week - and has sat staring at me from my desk since then.
I tend to experience some beginner's anxiety with each new technology I incorporate into my life. The learning curve is always steep and often requires learning a new language I never had any interest in.
So I have procrastinated.
Then yesterday, after the Binance hack, I boldly proclaimed “Tomorrow! I will set up my Ledger tomorrow!”.
Here is my journey in real time:
Back from dropping my daughter at school. Im going to start now. Checking my email. An alert from iTunes saying there is a new episode of “The Assassination of Giannni Versace” ready for me to download. Im gonna watch that first.
This show is so disturbing. I started watching it because a friend has a bit part. I feel shaken up after every episode.
Taking a break while my wife takes a phone call. Decided to use this opportunity to pull the shink rap off the Ledger Nano S. Whew. Step one is done!
Wife is off the phone. Putting the show back on.
She got another call. Pausing the show.
Starting the show again.
All done. Sitting down at my computer. Taking the Ledger out of the box. Looks like a heavy duty USB stick. Not much info inside. A card tells me to “Get Started at start.ledgerwallet.com" - so Ill do that.
My Ledger Nano S is now connected to my computer and I have created an 8 number passcode.
I am now writing down a 24 word recovery phrase. My heart is beating. Total anxiety.
My wife wants to chat about the short film she is making - https://ioneskye.squarespace.com - I happily accept the distraction. Except I am simultaneously irritated at having to stop this Ledger process now that Im finally in it. We discuss her financing prospects.
Back to my computer. “My device is now ready” the Ledger proudly displays. For what? What do I do now?
On the Ledger site it tells me to download the free the Ledger Wallet Bitcoin Chrome app or the Ledger Wallet Ethereum Chrome app from the app store.
Ok it is installed. I am now sending my Bitcoin (my largest position) from Binance to my Ledger Wallet. I am challenging David Blaine’s breath holding championship title.
My BTC transaction hasnt shown up yet. Binance says it went through. Slightly panicked. Googling to see if this is common. I see a Redditor who answers someone with a similar question:
“Patience friend. Give it some time.”
Still waiting for my BTC to show up on my ledger. This is taking a while. Did I manifest this through my anxiety? Is it possible to make things worse by fearing them?
I suddenly remember the advice to always transfer a tiny bit of crypto first to test whether the transaction works. Needless to say, I didn't do this. I just jumped in and tried to transfer my largest holding right away. I want to call my mum.
Have I lost my BTC? I start googling “BTC recovery services” - inspiring to find there are a few options! I can’t believe this is what my day has come to….
Depressed. Just took a bath. Listened to David Oyelowo on Marc Maron’s WTF Podcast. Still no sign of my BTC. Gonna go out and get some lunch. Oy vey.
Went to Veggie Grill and ate a Vegan Buffalo Bomber Burger with Sweet Potato Fries. Stopped for a Cappuccino with an extra shot at Blackwood. Came home. Resigned to having lost my BTC, this will be a learning experience, and one that I will be grateful for one day.
It arrived! There it is in my Ledger Bitcoin Wallet.
So there you go. The Ledger Nano S. Super easy and stress free.
Couldn't recommend this experience more highly to anyone looking for an emotional rollercoaster rider or simply trying to shave some years off their life.