Hello dear ADA fans,
I have a question?
I have connected the ADA in the YOROI wallet to the Ledger nano X. I am staking on the YOROI wallet. Now I have bought the MELD-coin and want to save and stake it through the NAMI wallet. But I also want to connect these to the Ledger nano X. Because the MELD is from Cardano, I wonder if I can connect these two to the Ledger?
You can connect your Ledger hardware wallet to multiple wallet applications and it will show always the same information.
Means if you send ADA from Yoroi and then you connect your Ledger to Nami, you will see the outgoing transaction also on Nami.
Thats because the applications always use the same key pairs which are stored on your Ledger device.
You can connect Nami to a Ledger.
But it will be the exact same wallet that you already have in Yoroi.
Wallet apps are just interfaces to the blockchain (with slightly different features). They can (more or less) all manage all of your wallets if you import them. A wallet is either protected by a seed phrase or by your Ledger (which in turn also has a seed phrase, but that seed phrase should never be given to a wallet app directly).
You are also not really staking on Yoroi. You just used Yoroi to tell the Cardano network that you want to stake. You could have used any other wallet app with exactly the same effect and you can use any wallet app to later change the delegation, withdraw rewards, … You are not bound to Yoroi, there.
Using Yoroi and Nami in parallel is a little problematic, though, because Nami only uses and sees the first address in your wallet. If you want to use Nami (for whatever reason), it would be better to use it in parallel with Eternl or Typhon and set them to single-address mode, which will make them play along with Nami.
Hi Hepta Sean,
Thanks for the quick answer. I tried and the connection is okay. You said; parallel using the Yoroi and the Nami connecting to the Ledger is problematic. I will fot now not using the Nami wallet. Is it probably possible to transfer the MELD coins to the Yoroi…or…
Hello, thanks for that answer. Can I connect a new ledger to an existing Nami with assets in the wallet?
Yes, the account(s) on the Ledger will appear next to your existing account(s).
But observe that that will not somehow secure your existing account(s) with the Ledger. They will just be independent accounts incidentally all managed by the same Nami instance.
If you do a transaction from the existing accounts, you will still need your spending password. If you want to restore/import them somewhere else, it will still be by your seed phrase.
If you do a transaction from the new Ledger accounts, you will have to confirm on the Ledger. If you want to restore/import them somewhere else, it will be by pairing the Ledger.
Thank you again for your response. So I’m clear, the Ledger will not secure existing Nami subwallets that under the same seed phrase. I can however create a new subwallet under that same seed phrase and connect the ledger to that new subwallet. I can then import any assets to the new Ledger subwallet to keep secure. Then, to move those assets I use the Ledger devise and confirm from it to access. If I want to restor the Ledger wallet to another devise I will need the ledger and the Nami passphrase. Is that correct? TIA
No, that’s not how it works. You don’t connect the Ledger to an existing wallet or subwallet, you just let the same wallet app manage both, the existing wallet/accounts and the Ledger accounts.
You have one seed phrase for Nami’s main wallet with all its accounts/subwallets. That one has nothing to do with the Ledger and never will have.
Your Ledger also has a seed phrase that better is a totally different one. The idea of a hardware wallet is that secrets never leave the USB device. The Ledger does the same derivations of private keys from the seed phrase inside the device that are done by the wallet app in the software for usual wallets and their accounts and the wallet app only asks the Ledger to sign transactions.
If you want everything secured by the Ledger, you have to move/transfer everything to the accounts on the Ledger and stop using Nami’s main account.
For example:
This is from my testnet Nami. The first account is the main one. The other three with “HW” next to them are accounts of the Ledger.
Can you access the top subwallet without the ledger connected?
You can read all of them without the Ledger connected.
You can send from the main/seed phrase wallet without the Ledger connected by giving the spending password.
You need the Ledger connected to send from any of the Ledger accounts (and it will ask for confirmation).
okay I’m finally starting to understand. I don’t know why this is so tough for me to grasp. Thank you for your patience with me. What are the steps to start a new ledger subwallet? Can I delete subwallets?
You just select “Connect Hardware Wallet” in the main menu shown above.
Then, it opens some dialogues in the main window to pair the Ledger. And then you can select the accounts:
The Ledger will ask for confirmation to export public keys, so that Nami can from then on read and show the transactions of those accounts.
You can delete accounts as you like. For the main seed phrase wallet (as long as you have the seed phrase) as well as for the Ledger, you can always add them again later. Even if there are assets in those accounts, they are not lost. You just delete the knowledge/connection in Nami, which is just an interface to the blockchain.