Frequently Asked Questions About Ledger Live
General Questions
Is Ledger Live free to download and use?
A: Yes, Ledger Live is completely free to download and use. There are no subscription fees or hidden costs for the application itself. However, standard network transaction fees apply when sending cryptocurrencies, and there may be fees associated with certain services like crypto purchases or swaps.
Do I need a Ledger hardware wallet to use Ledger Live?
A: While Ledger Live is designed primarily as a companion application for Ledger hardware wallets, you can use it in "watch-only" mode without a device. This allows you to monitor your portfolio but not send transactions, which requires a hardware wallet for signing.
Can I use Ledger Live on multiple devices simultaneously?
A: Yes, you can install Ledger Live on multiple computers and mobile devices. Your portfolio information will be synchronized when you connect your Ledger device to each installation.
Is it safe to download Ledger Live from third-party websites?
A: No, you should only download Ledger Live directly from the official Ledger website or official app stores for mobile versions. Third-party sources might distribute modified versions containing malware designed to steal your crypto assets.
What happens if I lose my computer with Ledger Live installed?
A: Your crypto assets remain secure as long as no one has access to both your Ledger device and your PIN code. Ledger Live is just an interface; the critical private keys never leave your hardware wallet. You can reinstall Ledger Live on a new computer and regain access to your accounts by connecting your Ledger device.
Does Ledger Live store my recovery phrase?
A: No, Ledger Live never asks for or stores your 24-word recovery phrase. If you're ever prompted to enter this phrase into the software, you're likely facing a phishing attempt. Your recovery phrase should only be entered directly into the Ledger device during recovery procedures.
Functionality Questions
Which cryptocurrencies does Ledger Live support?
A: Ledger Live supports over 5,000 cryptocurrencies and tokens, including major ones like Bitcoin, Ethereum, Ripple, and many ERC-20 tokens. The list is constantly expanding with regular updates.
Can I stake cryptocurrencies through Ledger Live?
A: Yes, Ledger Live offers staking capabilities for several proof-of-stake cryptocurrencies, including Ethereum 2.0, Tezos, Cosmos, and others. Staking allows you to earn rewards while maintaining control of your assets through your hardware wallet.
Is it possible to buy cryptocurrencies directly through Ledger Live?
A: Yes, Ledger Live integrates with several partner exchanges that allow you to purchase cryptocurrencies directly within the application. These services typically support credit card purchases and bank transfers, with the purchased crypto being sent directly to your secure Ledger wallet address.