Using Multiple Addresses for Ledger Accounts (2024)

FAQs

Can I have multiple addresses on ledger? ›

This can be done by configuring the use of multiple addresses in the required party ledger and specifying the different addresses . The address required can be selected from the defined addresses during transaction entry .

The Ledger Live application can be used with multiple Ledger devices. You can either use multiple devices yourself or share a computer with multiple people each owning a device.

1. Go to Gateway of Tally > Accounts Info. > Ledgers > Multiple ledgers > Create . 2.

Ledger Live automatically generates new addresses and keeps track of your previous ones. Previous addresses do remain valid, but they don't offer an optimal level of privacy.

Using multiple addresses for the same wallet can enhance your privacy. If you always use a new address to receive crypto, then if you share one of the addresses with someone, they can only view the transactions and balance associated with that address.

You can add multiple accounts for each crypto asset and give them a name for different purposes (e.g. trading, checking, savings, etc.). When you add an account, Ledger Live gets its unique extended public key from your Ledger device.

Yes, but you must change the BIP32 derivation path.

For example you may have personal, business, and IRA accounts but only want to use two hardware wallets in total. Note: If you want to create multiple vaults on the same account, you don't need to follow these steps. To do that, simply create more vaults!

When creating a general ledger, divide each account (e.g., asset account) into two columns. The left column should contain your debits while the right side contains your credits. Put your assets and expenses on the left side of the ledger. Your liabilities, equity, and revenue go on the right side.

How many ledgers should you have? ›

With Modern Treasury, you can have as many discrete ledgers as needed. A single ledger supports many currencies and an unlimited number of accounts and transactions. Transactions however can only be created atomically within a single ledger.

Bitcoin (BTC) transactions often include two destination addresses: one for the recipient and another as a change address linked to your Ledger account.

The Ledger Live application can be installed and used simultaneously on multiple devices (computers, smartphones). Your accounts and settings need to be set up on each device.

To share a computer with multiple owners of a Ledger device: Add a user account in your operating system for each person. Log in to your personal user account to use Ledger Live with your hardware wallet(s).

Add new accounts: In Ledger Live, click on 'Accounts' then 'Add account'. Select the cryptocurrency, connect and unlock your Ledger device, and follow the prompts to add each new account. Clear, specific names for each account are crucial for easy management.

Ledger Live automatically generates a fresh change address for every new transaction that does not fully spend its inputs. Ledger Live automatically takes care of change, you do not have to track the coins on your change addresses. It is not possible to check which address is your change address in Ledger Live.

Ledger Live generates a new address each time the previous one has received a balance for privacy reasons. Previously used addresses are still useable though, as it falls under the same xpub. For privacy reasons it is best to not re-use the same address, though it does not impact the security of your funds.