GM frens,

In case you've been living under a rock for the past few days, bitcoin has had a hell of a week.

The number one cryptocurrency by market cap is up more than 18% in the last five days. (As of Thursday afternoon.)

What's striking is that the halving is still about 50 days away, but bitcoin is only about 13% below its all-time high of USD69,000 from November 2021. Historically, bitcoin has been further away from its previous all-time high at this stage of the cycle.

This brings us to the million-dollar question: Will this cycle be different from past cycles? And do you need to plan differently if you want to profit from this cycle?

I'll share my thoughts on this topic next week. (Who knows, maybe bitcoin will have hit a new all-time high by then!) For now, I want to wrap up my series on cold wallets and walk you through the process of installing apps and creating accounts with a Ledger Nano S Plus.

As a reminder, this newsletter is not financial advice. It is general in nature, does not take into account your financial situation, and is for educational purposes only.

Today's newsletter contains affiliate links to Ledger. This means that I may receive a commission from them. But for Crypto Down Under, I only choose products that I use myself and can recommend wholeheartedly. I've been using my Ledger Nano S Plus for about 4 years now and I love it!

So let's get started!

To get up to speed with your Ledger Nano S Plus, you need to set it up first. Read up on how to set up your Nano here.

How to install apps on your Nano

• To receive and store coins on your Nano, you need to install apps and create accounts.

• First, make sure that your Nano is plugged into your computer. Then open the Ledger Live app on your computer. You will need your PIN to start the app.

• Go to My Ledger at the bottom of the Ledger Live app. You will need to enter your PIN on your Nano to unlock access to My Ledger.

• Once you're in, you'll see Ledger's App Catalog.

• To hold a coin on Ledger, you must first install the corresponding app. In the Ledger Live app, you will be able to find the app for just about every cryptocurrency under the sun, as the Ledger Nano S Plus supports more than 5000 coins.

• However, keep in mind that the Ledger Nano S Plus comes with limited capacity So in practice, you won't be able to install more than two or three apps on your Nano. But that's fine because I recommend that you either hold only bitcoin or bitcoin and maybe one or two other cryptocurrencies. Don't become a degen (crypto-speak for "degenerate") and speculate on coins you know nothing about.

• For example, to hold bitcoin on your Nano, you must first install the bitcoin app. Just click on Install. Once it's installed, it will look like this.

• Once the bitcoin app is installed, it will also appear under Apps Installed.

• As you can see in my case, the bitcoin app is already using almost half of the capacity. So plan accordingly.

How to create accounts on your Nano

• Once you've installed apps, you're ready to create accounts.

• An account is the wallet address you use to receive and send crypto.

• For example, your bitcoin account is the wallet address you need to receive and send bitcoin.

• Once you've installed an app, you can either create an account by clicking Add Account in the App Catalog.

• Or you navigate to Accounts in the menu on the left side of the Ledger Live app and click Add Account in the upper right corner.

• Once you click Add Account, you will be able to select the cryptocurrency for which you wish to create an account.

• Choose the cryptocurrency and click on Continue.

• You will need to confirm the steps of the process on your Nano. So make sure it is connected to your computer and unlocked.

• Once you've created an account, it appears under the Accounts tab.

• Once you've created an account, it will also appear on your Nano.

• Now you're ready to receive and send crypto on your Nano.

How to receive crypto on your Nano

• Make sure your Nano is connected to your computer and unlocked.

• Click Receive from the menu on the left.

• Choose the account you want to credit. (In the example below, we're doing a bitcoin transaction.)

• Once you click Continue, Ledger Live will show you the address of your bitcoin wallet. Make sure it is the same as the address displayed on your Nano.

• If the addresses are identical, copy the wallet address, go to the exchange where you bought crypto, and navigate to Send. (You can learn how to buy crypto on the Australian exchange CoinSpot here.)

• On CoinSpot, this is what it looks like:

• Enter your wallet address in the BTC Payment Address column.

• Double-check that the address is correct. Keep in mind that if the address is wrong, your crypto will go to someone else's wallet and you won't be able to get it back.

• After you've confirmed sending your bitcoin to your Ledger wallet, it will take a few minutes for bitcoin to appear in your Ledger Live app. In the meantime, you can access the bitcoin blockchain at blockchain.com/explorer and enter your wallet address to track your transaction.

How to send crypto on your Nano

• To send crypto from your Nano to an exchange or anywhere else, open the Ledger Live app, connect and unlock your Nano, and navigate to Send in the menu on the left.

• This small window will open:

• Select the account you want to send from. (In the example below, we're doing a bitcoin transaction.)

• Copy and paste the address of the wallet you wish to send funds to into the Recipient Address field.

• Again, double-check that the recipient's wallet address is correct, as you will not be able to retrieve funds sent to the wrong wallet.

• The next step is to confirm the amount you want to send.

• In the summary, you will see a summary of the transaction and the blockchain fees you will have to pay. (Always leave some funds in your Ledger wallet to pay for the blockchain fees.)

Buy, sell, and swap crypto on your Nano

• It is possible to buy, sell, and swap crypto in the Ledger Live app. Simply navigate to the Buy/Sell or Swap sections of the menu on the left.

• However, it is important to understand that Ledger uses third-party providers to buy, sell, or swap your crypto. The catch is that their fees are much higher than the fees you pay on an exchange. So my recommendation is to buy crypto on an exchange and then move it to your Ledger. To sell it, simply move it back to the exchange and sell it there. (Read here how to buy crypto on the Australian exchange CoinSpot).

How to use Ledger Live on your phone

• To check your Ledger balance on your phone, download the Ledger Live app from your phone's app store. (Make sure you get the right one and don't fall for fake versions!)

• On an iPhone, you can't use the Ledger Live app to receive or send crypto. You can only check your balance. (Which is what I do.) If you want to use your iPhone to receive or send crypto, you will need a Ledger Nano X. With an Android phone, you can use the Ledger Live app to make transactions. However, you will need the OTG Kit.

• In this example, I will show you what I do, which is to use the Ledger Live app on my iPhone to check my balance. For transactions, I use the Ledger Live app on my computer.

• First, you need to import your wallet and its balance.

• In the Ledger Live app on your computer, navigate to Settings in the upper right corner. Then select Accounts and click Export Accounts.

• The Ledger Live app will display a QR code.

• In the Ledger Live app on your phone, go to Wallet, navigate to View All Assets, and press the + button.

• Then, select Import from Desktop.

• Scan the QR code displayed in the Ledger Live app on your computer.

• Voila! You can now check your Ledger balance in the Ledger Live app on your iPhone.

I hope today's newsletter will help you on your way to self-custody of your bitcoin and crypto.

As we say in bitcoin: Be your own bank.

See you next week.

Before you go, please help me get better!

Feel free to drop me an email or dm me on Instagram, LinkedIn, or Twitter with any feedback or topics you'd like to see covered in this newsletter!

Thank you!