Also, if I do decide to set up my Nano S with Electrum, will I then be able to view it (and do everything else) in Ledger Live? In other words, if I make some transactions in the Electrum Nano S wallet, will I see those transactions in Ledger Live (and vice versa)?
Setting up the nano s (i.e. generating a seed, backing up the mnemonic code) does work without any software wallet.
You will set up your nano s without ledger live or electrum.
Then, afterwards, you are free to choose whatever you want.
The software wallet is just an interface to communicate with your hardware wallet. In consequence, the transactions you are doing will appear on both software wallets. They are fetching the information from server which have access to the blockchain.
So, yes. You will see the transactions in ledger live and electrum.
@bob123Thank you, that clarifies things really well.
Just to clarify myself, I've already set up the device, and understand that it's even possible to initialize it by having it just plugged into a USB charger (so not connected to any computer of phone).
Now, one more thing, if you all don't mind.
Is there
anything I could inadvertently do that would cause me to lose the ability to claim BCH (and maybe other forks)? There's isn't anything like a claiming window or deadline, is there? I'm mainly interested in claiming BCH.
I'm keen to move my BTC to my Nano, and that's my first priority, but I don't want to rush, in case the exact sequence of doing things in order to claim fork coins is important.
And finally, just to make 100% sure.
The steps, in my particular situation, to move my BTC from my current Electrum wallet, to my Ledger Nano S.
- Fire up my existing Electrum installation on my PC.
- Plug in my Ledger Nano S
- Create a new standard wallet and choose Hardware Device (will this automatically create a BTC "account" on my Nano, or do I have to create the account in Ledger Live first? I've already installed the BTC app on the device, but have not yet created an account.)
- Copy the receiving address of the new wallet
- Send BTC from old address to new address (paste)
Is that really all there is to it?
Many thanks!