If you use a Ledger wallet, here’s what you need to know to protect yourself.
What is a Ledger Wallet? The Ledger hardware wallet is a cold storage device where you can store your cryptocurrencies offline.
Usually cold storage is the generally the most secure place to keep your cryptos, you are responsible for making sure your
information to access them is KEPT SECURE.
When you send coins to your Ledger wallet, your device creates a new address to receive the coins. BEWARE -a hacker could infect your computer with malware that changes your receive address. That means your cryptocurrency would be sent to the hacker and not yourself.
Fortunately, the solution is easy.
Here’s the process you need to follow every time you get ready to send
coins to your Ledger wallet.
Open your Ledger wallet app.
Each time you generate a new address, you will notice a small “monitor” icon.
See the picture below.
Click the monitor button. It will display the receive address on your hardware device.
Verify that it’s the same address as on your screen.
To be safe, make sure to go through the address validation process each time you send cryptocurrency to your Ledger wallet.
Remember, it is your responsibility to keep your keys and passwords secure and to check the addresses to which you send your tokens.