In my last post, I showed you how to hook your Ledger Nano X to the Neuron Hardware Wallet. In this post, we will go over how to setup a Hot and Cold MetaMask wallet and store CKB in a secure manner.
First you have to load MetaMask. MetaMask can be used on the Chrome, Firefox and Brave browsers. Browse to the extensions of your applicable browser and search for Metamask to install.
Since you might be new to MetaMask, let’s setup a new wallet. I am going to show you the details of this BUT it is very important that you NEVER AND I MEAN NEVER share your private key with anyone.
Click Create a Wallet.
Create a password, confirm it and agree to the terms. Now it is time to secure your wallet. Click Next and Click Reveal Secret Words. Save them to a secure location or memorize them. When complete, click Next.
NOTE: Do not share your secret words or private key with anyone or you will LOSE YOUR FUNDS.
For the purposes of this post, I will reveal the Private Key. It is as follows:
lottery jelly public organ alien coffee any tiny supreme right remember purpose
Now it is time to confirm your secret key.
Click Confirm. Click All Done. Now lets add the new wallet to your mobile phone. Open MetaMask on your desktop and choose My Accounts Settings|Advanced. Next, choose Sync with Mobile. Enter your password. Now you can scan the QR code with your Mobile Phone.
The Wallet will import. You now have a Metamask Mobile Wallet all setup. You can purchase Nervos CKB using this wallet, but it is a Hot wallet not a Cold wallet.
Hot Wallets are online cryptocurrency wallets while Cold Wallets are physical devices that store cryptocurrency inside of them. Sending funds requires manual input thus protecting your funds from theft.
Lets now go over how to find your Nervos CKB address on the Hot Wallet. On your mobile phone, open Metamask.
Click the 3 lines on the left and choose Browser.
In the browser, type ckb.pw and connect. I now have my Hot Wallet Nervos CKB addresses and I can now view balances and lock money in the DAO. On the desktop, simply open a new tab and type ckb.pw and it will recognize MetaMask and open appropriately.
Click Connect. The addresses are now in sync on both Mobile or Desktop extension with MetaMask. You are all setup to receive Nervos CKB. Next, I am going to buy some Bitcoin on Coinbase and send to the Kucoin Exchange. I will exchange it for Nervos CKB and send to my newly create Hot Wallet.
Note: Fees eat you up a little ……15.00 only netted me 13.44. I would recommend larger purchases. I just did this for purposes of this blog post.
Next, I will open up KuCoin and send my newly purchased bitcoin to the BTC address on my KuCoin Exchange. KuCoin is a great platform to purchase. It is also a great exchange for the United States. It doesn’t require KYC and it is not banned in the US.
Download the app below:
I converted my Bitcoin to Nervos CKB and withdrew the funds to my MetaMask Hot Wallet below.
So now I have my Hot Wallet setup and I have some funds in it. I can even deposit these funds in the Dao if I choose selecting DAO and selecting Deposit.
Now that we have the Hot wallet setup, how do we connect the Hardware Wallet to MetaMask and transfer the funds from Hot storage to Cold Storage?
Let have some fun!!
In order to use the Ledger Nano X with MetaMask, you need to install the Ledger Live Desktop software located at the following:
If you are already using Ledger Live on your mobile phone, you need to install it on the Desktop as well to use it with MetaMask. After you install it, open MetaMask and perform the following:
Click Settings | Advanced | Use Ledger Live (turn slider to on position).
Now you are ready to connect your Hardware Wallet.
Note: Your Ledger must have Ethereum installed. Next, Choose Ledger.
In order to connect MetaMask with Ledger Nano Live, you mush connect the device bridge.
Once the bridge is opened and connected, you will see the message below:
You can now choose the appropriate wallet in MetaMask.
We now have a Hot and Cold Wallet setup for MetaMask. Lets now send the ckb from our Hot wallet to our Cold wallet.
Open a new tab and type ckb.pw with the hardware wallet connected (check mark next to the appropriate wallet).
Verify the Ethereum address matches for the Hardware Wallet. I am now going to grab the Portal Wallet (PW) address and send my funds to this address. I connect back to Hot wallet to obtain the address and then send my funds to my Hardware wallet.
Sign it and Send it.
My funds are now secure on Ledger using MetaMask. Anytime I need to send funds from MetaMask, it will open the Ethereum Bridge to my Ledger (remember Ledger has to be connected to computer via USB) and I will have to physically sign and review the transaction.
To the Moon!!