Ledger Account | Accounting Ledger

A Ledger account refers to the individual cryptocurrency accounts you manage using your Ledger hardware wallet and the Ledger Live application. Each account corresponds to a specific blockchain.......

What is a Ledger Account?

A Ledger account refers to the individual cryptocurrency accounts you manage using your Ledger hardware wallet and the Ledger Live application. Each account corresponds to a specific blockchain network like Bitcoin, Ethereum, or others. Unlike traditional online accounts, Ledger accounts are not stored on a server but are secured by your device and recovery phrase.

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How Ledger Accounts Work

When you add an account in Ledger Live, it doesn’t create a new wallet—it simply allows Ledger Live to track and manage a specific address on the blockchain. The private keys for these accounts never leave your Ledger device, ensuring your assets stay safe even if your computer is compromised.

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Creating a Ledger Account

1. Set up your Ledger hardware wallet by initializing the device, setting a PIN, and writing down your 24-word recovery phrase.

2. Open Ledger Live and connect your device to your computer or mobile device.

3. Go to the 'Accounts' section in the Ledger Live app and select “Add Account.”

4. Choose a cryptocurrency you want to manage, such as Bitcoin, Ethereum, or others.

5. Install the relevant app on your Ledger device using the "Manager" section if you haven’t already.

6. Ledger Live will scan the blockchain for existing balances tied to your wallet and create a new account interface for you to view and manage them.

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Managing Ledger Accounts

Once your accounts are added, you can:

• View your balances and transaction history

• Send and receive crypto securely

• Stake assets (if supported)

• Use third-party apps to interact with decentralized platforms

Each account is isolated by cryptocurrency, and you can create multiple accounts for each type if needed.

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Security of Ledger Accounts

Your Ledger accounts are only accessible through the hardware device, which stores your private keys securely offline. The 24-word recovery phrase is the master backup of all your Ledger accounts. If your device is lost or broken, you can recover your accounts by restoring the recovery phrase on a new device.

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Important Notes

• Ledger accounts are not tied to email addresses or passwords.

• All transaction approvals must be confirmed physically on the device.

• You can only access your Ledger accounts if you have both your device and your recovery phrase.