How to Install the Filecoin App on Your Ledger Device

This article explains how to set up the Filecoin app on your Ledger device so that you can send and receive FIL using Ledger Live.

Quck Answer:

• Install Ledger Live by downloading the most recent version.
• Your Ledger device’s firmware should be updated.
• Connect to Ledger Live and set up your device.

What is Filecoin?

By allowing anyone in the world to take part as a storage provider, the Filecoin network achieves astounding economies of scale.
By severing the link between hard-drive space and extra services, it also makes storage resemble a commodity or utility.
Market forces such as supply and demand, rather than corporate pricing departments, will determine storage prices on this competitive global market, and miners will compete on both price and other factors such as reliability and reputation.

What is a Filecoin Wallet?

You need a compatible crypto wallet in order to store and manage Filecoin. Ledger has the best product for you, whether your goal is to manage your tokens on a daily basis or to keep them secure and HODL.

Ledger hardware wallet

Ledger hardware wallet stores your private keys and signs transactions offline, making them resistant to malicious attacks and threats.

A layer of security against the constantly changing risks associated with being online is offered by cold storage wallets, which are encrypted devices that store your Filecoin tokens offline.

How to Install the Filecoin App on Your Ledger Device

Before you start

• Download and set up the most recent version of Ledger Live.
• Update the firmware on your Ledger device.
• Ledger Live allows you to connect and set up your device.

You’re ready? Great, let’s get started.

Install Filecoin (FIL) on Your Ledger Device

1. In Ledger Live, navigate to My Ledger.
2. Connect it to a computer and unlock it.
3. Confirm that you allow My Ledger to access your Ledger device. You can do that by clicking both buttons of your device simultaneously.
4. Return to Ledger Live. In My Ledger, head over to App catalog and search for Filecoin (FIL).
5. Click Install.

You’ve installed Filecoin on your Ledger device. Now let’s add it to Ledger Live.

Add Filecoin (FIL) Account to Ledger Live

1. After the app is installed on your Ledger device, click Add account.

2. An account synchronization window will appear. Click Add account.

That’s it. Filecoin account is added to Portfolio.

Receive Filecoin (FIL)

1. In the left sidebar menu, click Receive.
2. In the drop-down list, select Filecoin and click Continue.
3. After unlocking it, connect your device.
4. To continue, press both buttons at once while the Filecoin app is open on your Ledger device. You should see a message stating Application is ready.
5. On your gadget and in Ledger Live, the Filecoin address will be visible.
6. Check to see if the address displayed in Ledger Live matches the address displayed on your device.
7. If they match, approve the address on your device—press the right button on your device until you see Approve. To approve, press both buttons at once.
8. Share the address you copied with the sender. After being copied and pasted, an address shouldn’t change.

Send Filecoin (FIL)

From the account in Ledger Live, you can send Filecoin while using your device to confirm and approve a transaction.

Pro tip: Send a small amount first, then larger amounts after you have made sure the smaller amount was delivered. If you’re unsure whether a transaction was successful, check back in a few minutes.

1. In the left sidebar menu, go to Accounts and click Filecoin.
2. You’ll observe that you can send and receive FIL.
3. Click Send.
4. Enter the recipient address. Double-check the address and click Continue.
5. Input the desired donation amount.
6. Select the amount of network fees and click Continue. Remember that faster transaction processing is associated with higher fees.
7. Check the transaction summary—Amount, Network fees, and Total to debit—and click Continue.
8. Confirm and approve the transaction on your Ledger device—press both buttons simultaneously to Approve. Press both buttons simultaneously to Accept and send the transaction.

The transaction is sent. Your account balance will be updated when the blockchain confirms the transaction.

Summary: Install the Filecoin App on Your Ledger Device

To install the Filecoin app on your Ledger device, you need to follow the following steps:

• Download and install the latest version of Ledger Live.
• Your Ledger device’s firmware should be updated.
• Ledger Live allows you to connect and set up your device.

You are now prepared to use Ledger to manage Filecoin (FIL).

FAQs