Unsure How To Send ADA from Binance to Ledger S

Hi,
I am very new to cryptocurrency as anything more than holding it on my Binance app, so I recently got a Nano Ledger S for security as a long term investment to store and hold my coins for years to come. I transferred my BTC, ETH, etc. all to my ledger, but am struggling with my ADA. I have heard about something called a Youri website or something along those lines. Could someone fill me in on how to get my coins from my Binance app to my Ledger and the entire process of that?

Much appreciated!!

Hey and welcome @Jthorne

First of all id like to say that buying a hardware wallet is one of the best things you can do when you own cryptocurrencies.

Second id like to say is try to learn as much as you can about how those devices work, so you wont get scammed. The best rule to learn is NEVER ever enter your recovery seed somewhere else then in your device!

To your question : If you want to use your ledger device for Cardano you will need a wallet to manage your address because Cardano is currently not integrated in Ledger Live. There are different options like Yoroi, Adalite or Daedalus. Imo id go currently for Yoroi because it has imo the most user friendly userface. Install Yoroi as browser exentsion, connect your wallet with it, copy the receiving address and send your coins from Binance to that address et voila you are already done.

If you have any futher questions feel free to ask here or drop me a PM :slight_smile:

Cheers
Fabian

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So once I transfer my ADA from Binance to Yoroi and if my Yoroi is connected with my Ledger I don’t need to make a second transfer? It will automatically be in my ledger wallet?

I dont really know what you mean. If you buy new ada coins you have to transfer them again to your ledger wallet.

By second transfer I mean from Yoroi to Ledger. Is that a thing that I will have to do or once my coins are in Yoroi they are also in my ledger?

You have to understand that the userinterface you use doesnt matter. Once you have transfered your coins to your ledger address you can use any wallet which supports ledger without transfering anything.

Cheers
Fabian