Please bear with me, I'm a very confused newbie. I understand that I can't access private keys in the ledger nano s but that they are stored on the device. Question is, if I transfer my desktop wallet to ledger nano s will the ledger create a new set of private keys or will it simply store the ones from my desktop wallet?

  • I haven't use my ledger form XMR yet, but in a nutshell the ledger will create a new wallet. You do a normal 'pay' to the ledger's newly created wallet address. Funds xfered. I'd play with pennies first to get the mechanics down and verifies both ways. (doubt you can use testnet with the ledger)
    – Dave
    Oct 9 at 22:13
  • Thanks Dave. That'd be SENDING the funds from desktop wallet to ledger wallet just as if I was sending them to someone else and incure network fees. Isn't there a way to import the coins without doing a send? I believe you can import private keys from a paper wallet to Electrum desktop wallet with the keys staying the same and no network fees, I think it's called an 'import'. I realize that's not recommended but if you want to spend paper coins that'd be the way to do it without incurring fees.
    – Korona
    Oct 10 at 23:35
  • Monero network fees are negligible. (unlike BTC or ETH) And if in no hurry, use the lowest priority.
    – Dave
    Oct 11 at 13:52
  • Alright, so fees were not my only concern😁. I'm one of the paranoid folk who believe in 'you don't hold them you don't own them'. I like the idea of hardware wallet but not being able to have access to the private keys is making me uncomfortable. What if ledger live goes away or the nano goes and I can't get another one? Having the private key would enable me to use other wallets. Also having the same pass phrase for all coins seems like an unncessary compication. Could be just lack of experience but all of this makes me want to rethink hardware wallets. Opinion please?
    – Korona
    Oct 19 at 20:35
  • You can restore the ledger from the seed it gave when setting it up. (so you can lose it, get a spare now, like a spare 2fa/Yubikey) I don't think the hardware wallet work with Live and Monero. Believe you need to use the official GUI/CLI wallet to interact with the nano. Same passphrases for all wallets is akin to a password manager. Sure a single point of failure but far better than an text file or worse memorable passwords. I haven't moved any XMR to my nano, just seemed complicated (do need to sit down and try it) but do have some BTC and LTC on it.
    – Dave
    Oct 22 at 17:14

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