The Safest Way To Store Bitcoin (Step By Step)

Best way to keep your Bitcoin and cryptocurrency safe

► Where I Buy Bitcoin:
► Get up to a $250 in Digital Currency:
► The Ledger Nano X:
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Andrei Jikh
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I was not sponsored or paid to make this video. Someone sent me the Ledger Nano X device. It happens to be one of the best and safest places to store your cryptocurrency. Today I want to show you the private key process, something I’ve never seen anyone do before – step by step.

One of my favorite things about the Ledger device is that it doesn’t actually store our crypto on the device itself. Instead, it speaks to the blockchains of all the different cryptocurrencies. If you ever wanted to receive Bitcoin, send it across the world, or if you want to send your crypto to an exchange like Coinbase or Gemini safely – you need something like this as well. Even if you were to lose the device, or if someone stole it, or even if someone were to destroy it – you could still recover your crypto as long as you have your private key which is what I want to show you.

STEP 1 (The Setup)
Download the Ledger Live app from the play store or Apple iOS store, the set up is the same. Once you opened your Ledger, it’s pretty intuitive with how it works: it has two circular buttons. Pressing one on either side will navigate the menu left or right. By pressing both, you will confirm your selection. First you have to set up an 8 digit pin, whenever the Ledger goes idle, it will ask you to re-enter the pin so make sure you don’t forget what your pin code is. It will then ask you to re confirm it.

STEP 2 (The Secret Key)
The next step to keeping your crypto safe is to write down your secret key phrases. There will be 24 words that are shown on the screen of the device. You have to write each of them down on the provided piece of paper in the order you see them. Make sure you do NOT take a picture of them on your phone, and do NOT upload them online. These phrases must be kept secret and offline – otherwise your device is 100% compromised. After you’ve written them down, it will then ask to confirm the words for each slot.

STEP 3 (Pair The Device)
The next step is to pair your Ledger Nano X device with your smartphone. It will automatically guide you through the simple process, make sure bluetooth and Wi-Fi are enabled. This will take a few seconds. Once the device is paired to your phone, time for the next step.

STEP 4 (Download Crypto Apps)
Once the two are paired, you have to download the apps of the cryptocurrencies you want to use. There are many to choose from but the setup process is the same for all of them. I personally stick to Bitcoin and Ethereum at this point in time. If you go to your Ledger Live app on your phone, under the “Accounts” tab, you’ll see a plus icon, click on that and you’ll see the list of all the crypto coin apps you can download. Once you download the app, you need to synchronize the accounts. For Bitcoin, you may see multiple accounts. I personally stick with “Native Segwit” because it’s the slightly cheaper network of the two. There’s also just “Segwit”. They both work equally well, but the native option is cheaper.

STEP 5 (Transfer Your Bitcoin)
Now it’s time to finally transfer your Bitcoin, Ethereum, Dogecoin, Cardano, Polkadot (you name it) from your online wallets/brokerages like Gemini or Coinbase, and into the hardware wallet. If you click the Transfer Tab, Receive, Bitcoin Native Segwit – it will show you a wallet address you can copy. Make sure you click “copy address” and you don’t manually put the information yourself otherwise you risk making an error. This address will then be used to withdraw your cryptocurrencies from your online wallets. The process is exactly the same but reversed if you want to send your cryptocurrency from your Ledger Nano X back to the brokerages (if you ever wanted to sell your crypto).

If you want to check the status of your transaction, you can go to and copy/paste your hash address to see the status of your transaction. Stay safe!

*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.


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  1. Being at a high doesn’t always mean it is bullish if it’s signaling a loss of momentum and a probably turn around. And about dollar cost averaging its a very useful notion for entries and exits on a particular investment as it levels up the risks. But DCA-ing your way over a long period of time only works in your favor if the investment you buy into is a long time growth. If it’s tradlng sideways or on the down slope, you’re better off getting out of it or look for another horse. Too often, people think they should continue to DCA when in fact they’re buying at too high of a price in a st0ck losing momentum and their dollars would be pit to better use somewhere else. With the volatil!ty that comes with crypt0s, it makes sense to experiment with !nvestment strategles, for instance, lnvesting in various tokens. This active lnvesting format has caught on with lnstitutional lnvestors and whaIes. Returns in active lnvesting rely on the performance of an asset and also your pattern of tradlng as an !nvestor, however, a new strategy that has emerged and become widely popular is passive tradlng with tra de slgnaIs from exp:erts and my passion for tradlng increased after coming across Mr. Thomas Fuller because with his risk management courses and his accurate trade slgnaIs my tradeshave gotten better and I’ve increased myportfoIįo from its initial 3 β-Ͳ-↻ to slightly over 12. Mr. Thomas is a pro tr:ader and crypt0 journalist who offers a lot of insights into profltable tradlng and many of his free courses can be found on google for any newbie trader looking to set up and I can vouch for the viability of his trade slgnaIs. He can be reached on his 🅼🅰𝓘𝓛 (thomasfullerofficial@gmailcom) and ω𝐇𝓐𝓽ѕ🅐🅐🅟 (+44 7862 067653) for more cognizance into being profltable in your tra des.


  3. Mr. Jikh, you may not see this message due to the date released, but you should really look into all the negative reviews about Gemini. Maybe you and many others have had no problem; but more and more people are leaving reviews on various sites and stores about the issues. The main seems to be new accounts being unable to be verified months later and many being unable to withdraw their funds. I’ve used several different apps and sites with almost no problem. Gemini- nothing but. Thankful I test each site with a small amount first. Doesn’t hurt to at least look, otherwise it’s hard to take any further reviews, or suggestions without extreme skepticism.

  4. Dude, this is the best video on how to do these transfers. I am seriously considering blockfi as well, thanks for sharing this info, super helpful.

  5. That won't bother you if you trade with a professional like Mr James Matheson. His strategies are really good
    My first Investment with Mr James Matheson me profits of over $24,320 US dollars and ever since then he has Been delivering

  6. Still so lost 🥺. Looks like I would have to hope the Ledger Nano people wouldn’t hack my account since they won’t let me change from default recovery words. I’m a noob so just trying to learn.

  7. I have a stupid question. What is the difference between Coinbase and Blockfi? You said to buy Bitcoin on Coinbase but store it on Blockfi??? Then store it on a Ledger device??? I think I need to go back to Bitcoin kindergarten…..

  8. This is a great video. I always wanted to know how those ledgers work. I don't have enough money on crypto to worry about an hardware wallet, but someday when it is the case, I now know a good way to store it XD

  9. While it appears so much easier, PayPal also has a bad track record of restricting people's accounts and stealing their money. I am interested in buying the ledger nano s as it is only $59, and attempting to learn how to set up an account with an actual exchange to buy and transfer to cold storage. I'm hesitant to do that as well because I'm not smart enough for all this technical stuff and I'm afraid I'll lose my coins when I inevitably screw up. However, I am willing to try, BUT, I don't fully understand the transaction fees and if I have to pay to transfer it to the Ledger, I'm not sure it is worth it. I can't afford to buy several hundreds or thousands of dollars worth at a time, I can manage $50-$100 worth at a time. Is it even worth trying with my limited funds? If there is a transfer fee, how much of my $100 worth of coin would I lose? I have tried to find this answer online but maybe I'm just not wording my searches the right way.

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