Live-Blogging my "Ledger Nano S" Panic Attack!!!

in intro •  last year

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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:

8:30am
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.

9:22am
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!

9:26am
Wife is off the phone. Putting the show back on.

9:27am
She got another call. Pausing the show.

9:30am
Starting the show again.

9:37am
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.

9:40am
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.

9:45am
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.

10:11am
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.

10:21am
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.

10:52
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.”

11:00am
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?

11:15am
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.

11:53am
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….

12:14pm
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.

1:30pm
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.

1:50pm
It arrived! There it is in my Ledger Bitcoin Wallet.
Good Lord.

1:51pm
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.

Big love
@benleemusic

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Most of my Bitcoin is on paper wallets. I really need to get a Nano or a Ledger. And figure out how to access the BCH and BTG.

It’s easy to hodl if you’re a procrastinator.

Hahaha!! OMG we’re two peas in a pod... 😬

Just to make life more interesting for you. You should be using the 24 seed words plus the secret. Partly for plausible deniability of you are forced to unlock the ledger. But more importantly, you need to store the 24 seeds somewhere securely. But if anyone gets hold of them, then they own your crypto.

With the 24 plus one, you don't store the two parts together.

So, ledger have added another layer of security with the extra seed that is secret. It will generate a new set of addresses and wallets, this you have two sets. One for the 24 seeds that can work as a short term place to keep stuff. And the 24 plus secret that can act as a storage for larger amounts.

EDIT: I see from the comments that there are a lot of new people to the crypto ecosystem. Please, don't buy hardware wallets from anyone other than the manufacturer. The hardware wallet will generate the seed words when you set it up, it will never never never be pre set up, it will never have the words on a piece of scratch here paper. Please be safe, ask people that know what is going on to help you.

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Great advice! Yes I had heard about people getting tampered wallets from Amazon. Got mine straight from Ledger. And thanks for the tip about the extra seed!

You're married to Ione Skye?! I love her movies! 💖

Hahaha I laughed out loud with "I want to call my Mum"! Not that I know what any of this stuff means but I can relate to the new tech anxiety! Before posting my intro post the other day I had to have Mark sit with me and assure me I wasn't going to die haha
Well I guess I'll look into this Ledger Nano S thing too!! Thanks for bravely paving the way

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Don't worry about it unless you are acquiring other cryptos. Steem Power is safe on the wallet here as long as you keep your password protected. The cold storage is for Bitcoin, Ethereum etc.

Ive been wanting to get this! Still debating weather to get nano or trezor but good to know that after all that procrastination 😂 it was simple to set up! 💪💪🤗

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Ha. Yes, simple!

love learning from you, and laughing along with you at the absurdity of all this. whatever happened to trading baseball cards?! you are a crypto-sherpa to more than you know, including me! thanks ben!

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Ha yes it was simpler back then! xx

I have to say I completely get this. I too am on the steepest of steep learning curves. It was only days ago I stopped using my active key to post! (EDIT: It was my owner key)
I don't have huge positions as far a investment goes but it seems so complex to store them.
I am hoping one day this will all be made so much easier... until then I have everything crossed and I am keeping touch with the investment angels!!

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What’s the active key?

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The Active key 'is used to make transfers and place orders in the internal market', I actually meant the owner key, which is the master key for your Steemit account.

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Oh okay, and you change it to a password of your own choosing rather than the encrypted one you are given?

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This post should tell you more than i am able to. hope it helps

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Thank you.

Cold storage is definetely needed, many years ago I purchased 15 bitcoin when they were $4.

10 of which I kept in the online wallete 5 on a printed wallet.

The 10 in the online wallet disappeared after about a month and the paper wallet broke down, ink went funny and now I am broken about it :(

USB cold storage is the best.

Hahah!! Totally. Have any thoughts on trezor aswell?

Empathize with a chuckle.
The emotional roller coaster you describe is a big part of crypto not being more accepted by the general public.

Every single time i transfer btc or any “slow coin” i go through the same anxiety lol.

Lol! This was really funny. That vegan burger sounds amazing. Did you take a photo?

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Ok Veggie Grill review next time! :)

I admit this gave me a real laugh in the middle of spring depression, which is really selfish, but I can totally empathize - every time I make a super tiny blocktrades transfer I wait anxiously for the confirmation, and that's only a few minutes - that feel like hours ...

Nicely done @benleemusic. Very entertaining read too. Glad you eventually got the BTC into your ledger.

I've had a few days like that. Not since I got here though :)