This guide will walk you through setting up your Ledger wallet for the first time inside the Metal Vault application. If you don’t have a Metal Vault account yet, follow this guide to create one.
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The Metal Wallet Is Linked To A Parent Ethereum Wallet
When you enter the Metal Vault for the first time, you’ll notice that you have two preconfigured wallets: “My Ethereum wallet” and “My Metal wallet”. The Metal wallet is linked to a singlesig Ethereum wallet. The reason for this is that Metal is an ERC-20 token that resides on the Ethereum blockchain (it carries smart contract information that identifies it as MTL).
It therefore needs a parent Ethereum wallet to cover any transaction fees. So the Metal wallet is linked to an Ethereum wallet under the hood. This setup allows users multiple options for creating new Metal wallets in Trezor, Ledger, or importing from MyEtherWallet through a keystore import file.
This guide will show you how to create a Metal hardware wallet using your Ledger device. To do so, you’ll first need to create an Ethereum hardware wallet to which it can be linked.
Setting Up Your Ledger Wallet To Connect With Metal Vault
Log in to the Metal Vault app, and go to the “Wallets” page; then click on the add wallet button (the “+” icon beside “Wallet”). You’ll be taken to the “Create wallet” page within your Metal Vault.
Step 1 asks “Which currency would you like to use?” Select “Ethereum”.
Step 2 asks “What kind of wallet do you want to create?” Select “Ledger”.
In Step 3, enter a name for the Ethereum wallet you’ll create on your Ledger. (It is good practice to give it a descriptive name, like “My ETH-Ledger Wallet” or “Jerry’s Fund” to avoid uncertainty later.)
Before you connect your Ledger device, make sure you’ve enabled browser support (see this video or tutorial), otherwise your Ledger won’t be able to communicate with the web-based Metal Vault. Update the firmware regularly of your device!
Connect your Ledger device to your computer via the USB connector. Once you’ve inserted your pin code, start the Ethereum application on your Ledger, and click on the “Connect Ledger” button. You should see a popup.
The drop-down menu will display multiple addresses; you’re going to select one. If you already have a funded Ethereum wallet on your Ledger that you want to link to the Metal Vault , choose the address that contains the funds.
If this is your first time using the Ledger with Metal Vault, or if you have no funds in your Ledger, you can choose any address from the list; this will be the address of your new Ethereum wallet on your Ledger. When you’ve selected your address, press “OK”, and you will find yourself at your new wallet interface.
Congratulations, you now successfully added your Ethereum Ledger wallet. This wallet is now accessible from your Metal Vault dashboard.
Create a Metal Ledger Wallet that is Linked to the Ethereum Wallet You Just Created
To link a Metal Ledger wallet to your new Ethereum Ledger wallet, click on the “add wallet” button again (the + icon) on the Metal Vault dashboard. You’ll be taken to the “create wallet” page once again.
Select Metal in step 1. In step 2, select the Ethereum Ledger wallet you just created. Pick a name for your Metal Ledger wallet in step 3. Finally, click “create wallet” to complete the process.
You now succesfully linked your ledger to the metal wallet
Congratulations! You have successfully created a Metal Wallet on your Ledger. You can access this wallet from your Metal Vault whenever your Ledger device is connected and activated.
This concludes the “How to setup your Ledger Wallet in Metal Vault” tutorial.