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The Safest Way to Use MetaMask With Ledger Hardware Wallet

Beginner Jul 12, 2021 · 6 min read

Cardinal Takeaways:

— Security is always a business concern for annihilation on the cyberspace, and so is the example for cryptocurrencies. With the increasing user base, the number of crypto hacks and thefts is as well on the rise. — The first step to securing your crypto assets is to store them in a non-custodial cryptocurrency wallet such as MetaMask. The wallet offers yous piece of cake access to a multitude of blockchain-based services. — Hot wallets such as MetaMask remain connected to the internet, which entails some risks. — In this article, we will explore how y'all can ensure maximum safety past using your MetaMask with a Ledger hardware wallet.

Notice the safest style to use MetaMask with a Ledger hardware wallet.

Represented using the face of a fox, MetaMask is a cryptocurrency wallet that is arguably the most popular and trusted amongst crypto users. It comes as a plugin that you can install on Chrome, Brave, and Firefox internet browsers.

MetaMask is a non-custodial cross-concatenation wallet that enables yous to store crypto assets based on Ethereum, Binance Smart Concatenation, Polygon, and other blockchains. Different a bank or a wallet on a crypto substitution, MetaMask is not interested in controlling your funds or your transactions. So, as long as you secure your wallet the right way and ain your private keys, merely y'all will command your coin.

It is as well categorized every bit a "hot wallet," meaning that the wallet is connected to the internet to enable certain functionalities on the spider web. This significantly improves ease of use when accessing blockchain applications (dApps) but it does come up at a cost.

Rewards that Tag Along With the Risks

Cryptocurrencies and blockchains have more use cases than you can possibly imagine. Nigh are institute on decentralized applications (dApps) and decentralized finance (DeFi) protocols.

MetaMask was congenital to work with these applications and lower the barriers to entry for crypto users. You can utilize your MetaMask credentials to access these services in a single click.

Whenever you open a dApp or a DeFi protocol, you can click on the "Connect" button and use your MetaMask credentials to sign in on the platform. Hither are a few things you tin can do using MetaMask:

• Withdraw loans from or lend your assets for a handsome interest
• Buy, sell, merchandise NFTs on marketplaces
• Play blockchain based games
• Start yield farming
• Sign upwards for NFT and cryptocurrency airdrops

Risks associated with hot wallets

Annihilation connected to the internet is not entirely secure, not even the regime systems that suck in billions of dollars to maintain loftier levels of security. The same goes for MetaMask. It is continued to the internet and thus leaves room for hackers to attack and steal users' funds.

To gain access to someone'south funds, a hacker can remotely install malware to access the user's browser and brand alterations to drain the funds into their wallet.

For example, a Reddit user explains here how a hacker hacked his system to transfer i.98 ETH worth approximately 5,000 dollars at the time of writing to some other wallet. The Redditor also added that a potential malware installed in their organization changed any copied crypto wallet accost to a different one upon pasting; this type of scam exploits blind signing to gain access to your funds – this is something all hot wallet users should exist enlightened of. Final year in April, the official MetaMask wallet of a crypto project called EasyFi got hacked, losing over 75 million dollars worth of crypto assets.

And these attacks are commonplace because hackers do not need to admission your wallet straight. Instead, they can rig your computer system or just your browser to achieve the information they demand to steal your funds.

For these reasons, even MetaMask recommends its user to get a hardware wallet if they own a significant corporeality of crypto.

Now that you lot know the risks, y'all may wonder if there's a way y'all can use MetaMask without hindering your security? Of course, there is: leveraging the security of a cold wallet with the accessibility and ease of a hot wallet.

In full general, using a common cold wallet such as Ledger Nano is the smartest and almost secure way to store the private keys, which human action as proof of crypto assets you own. The Ledger Nano stores your private keys offline and guarantees that no one on the internet tin can tamper with them. That's why a combination of Ledger and MetaMask is considered to be the safest and smoothest alternative.

Such a combination provides you with a concrete U2F. Pregnant that y'all volition need to physically connect your Nano wallet to your calculator to sign and confirm every transaction requested through MetaMask. As you lot tin gauge, this makes the hackers' job quite difficult. This is what makes using the combination of MetaMask and Ledger so secure.

Commencement, get yourself a Ledger hardware wallet to safeguard your individual keys. Ledger devices come with a software called Ledger Alive (available on mobile & desktop), which is basically the equivalent of the app store to the iphone, providing you with a safe gateway to all your crypto services and downloadable for complimentary through this link.

One time in Ledger Alive, create your Ethereum business relationship by clicking on 'accounts' on the left hand side, then 'add together an Ethereum account'.

Subsequently that, you lot can plough your Fiat ($,£,€, etc.) into Ethereum (Cryptocurrency). For about of y'all the easiest style to do that will exist via Wyre/Coinify on Ledger live.

Next y'all will be able to utilise the Ethereum business relationship you created in Ledger Live on MetaMask from within the security of your Ledger device.

Sounds slap-up? Permit's walk you through the steps of how you can connect Ledger to MetaMask.

Step i. Connect your Ledger Nano to your computer device using a USB cable. Also, open your MetaMask wallet in full screen on your browser.

Step ii: Click on the top-right menu of the MetaMask wallet and and so find and click on "Connect Hardware Wallet" in the drib-down card.

Step 3: When yous click "Continue," MetaMask will await for a Ledger device connected to the reckoner. So, to make sure it discovers your wallet, unlock your Ledger device.

Pace 4: Once it discovers your wallet, it will prompt you to cull a Ledger account that you would want to connect to MetaMask. Cull the one you prefer and finish (or create one from Ledger Alive if you lot have none).

Step v: Some terminal steps to make sure everything runs smoothly.

1. Click on the "Ethereum application" on your hardware wallet display and so click on "settings" and turn on "blind signing" (please make sure you're aware of the risks associated with blind signing). Or else it won't work properly.
2. Open the MetaMask window, click on the business relationship logo on the top right corner, scroll downward to "settings" and click. Then click "advanced settings", scroll downwards and turn on "WebHID".

Tada, This will enable you to view your Ledger wallet balance on your MetaMask extension. You volition also be able to transact across all blockchain applications that support MetaMask. The just thing y'all will demand is to connect your Ledger wallet to your device open Ledger Alive, verify and sign the transactions.

Step 6. Enjoy your ride: y'all can now interact with your favorite dApps from within the security of your hardware wallet, past selecting MetaMask on login.

If y'all're having whatever trouble or experience a flake lost, this back up page might be of help.

Take your avails' security to the adjacent level

Every few days at that place's news about the theft of cryptocurrencies. In some instances, the loopholes of centralized platforms are to blame while in others, it's the fault of the terminate-users. But you… you exercise non accept to deal with that. You can merely peg together your MetaMask and Ledger device and make sure you requite hackers a hard time!

If you lot're keen to acquire more about protecting your crypto assets, check out our article on blind signing – essential advice for making prophylactic, transparent transactions.

For our dazzling School of Block episode on the vibrant new world of crypto avatars, click correct here!

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