How To Set Up A Ledger To Trade On Drift | Drift Learn (2024)

Step 1: Know the basics

If you want to trade on Drift, it’s recommended to connect your browser wallet (also known as a hot wallet) — to a hardware wallet (also known as a cold wallet). This isn’t required, but it’s a safer way to interact with decentralised apps.

In this guide, Let's use Ledger as a cold wallet example.

Step 2: Ledger Setup

To set up a Ledger, head over to ledger.com/ledger-live and select your operating system. Once you have set up Ledger Live, you will need to install the Solana app on your Ledger device.

You can view a more in-depth guide on how to set up a Ledger for Solana here.

Step 3: Connect Ledger to Phantom

After setting up your Phantom seed phrase and completing the subsequent steps, you will need to connect your Ledger wallet to your Phantom wallet.

• Go to your Phantom wallet
• Select “Your Accounts” and “Add/Connect Wallet”
• Select “Connect hardware wallet” and you will be led to a separate Phantom page where you can connect your Ledger hardware wallet

By connecting your Phantom wallet to a Ledger wallet you can enjoy multiple benefits:

• Easy transfer of digital assets from a hot to a cold wallet and vice versa
• All transactions are approved through Ledger, not Phantom
• Even when your Phantom wallet gets hacked, no transactions can take place without signing them off on the Ledger, giving you an extra layer of security

Step 4: Start trading, earning yield, and borrowing.

When trading on Drift, each transaction can now be approved through your Ledger, keeping your digital assets safe at all times.

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