Do you want to add a layer of security to your MetaMask wallet to better protect your cryptocurrencies? This is now possible by pairing it with a physical Ledger wallet. This guide tells you all the steps to follow.
The importance of securing your cryptocurrencies as much as possible
In the cryptocurrency ecosystem, the use of a physical wallet is becoming more and more the norm to protect your funds. As you know, a physical wallet keeps your data offline and creates a completely attack-proof environment. In addition, you have unique and direct access to your private keys, you are the sole holder of your cryptocurrencies.
Nevertheless, wallets in the form of a browser extension remain very popular with users thanks to their practicality and their growing compatibility with all decentralized finance platforms.
What if it was possible to combine the ergonomics of a wallet like MetaMask and the security of a physical wallet like Ledger ? This is what we will see in this complete guide.
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Why combine a Ledger wallet with MetaMask?
Since the beginning of 2022, it is possible to add a layer of security to your MetaMask account thanks to your Ledger wallet.
Regardless of the amount of cryptocurrencies you own, the course of events (Terra and FTX for example) clearly demonstrates that the use of a Ledger is becoming essential.
Indeed, the sole use of MetaMask carries a lot of risks. Its biggest weakness lies in the fact that it is connected to the Internet and therefore your private key is exposed to any type of external threat.
Some malware can steal your private keys with disconcerting simplicity, as recently demonstrated by the Mars Stealer malware, which sold for $150 on the darknet. This highlights the derisory security of application wallets.
This is why the association of a Ledger wallet with MetaMask is currently one of the most suitable options for securing your cryptocurrencies. Note that the layer of security that a Ledger wallet provides does not exempt you from keeping your recovery phrase out of sight.
This association offers you U2F authentication (authentication via a security key) which is even more powerful than the famous 2FA (2-factor authentication via email or telephone number).
You will then have to connect your Ledger to your computer via USB each time you want to confirm one or more transactions made on MetaMask.
This simple additional step gives you a very important degree of security against hackers, because even if they take control of your MetaMask, they will not be able to do anything with it, because they will not have your Ledger in possession.
Finally, this combination gives you access to the wealth of possibilities of decentralized applications (DeFi) which until now was quite limited using a Ledger alone.
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Complete guide to connect a Ledger wallet to MetaMask
First of all, make sure your Ledger wallet is up to date, in which case you will have to go to the Ledger Live application to get the latest update.
Once this is done, log in to your MetaMask wallet and plug your Ledger key into your computer via USB.
Then click on “Connect a hardware wallet”.
For MetaMask to detect your Ledger, unlock it with your PIN. Finally, select “Ledger”.
MetaMask offers you to choose the Ledger account to which you want to connect. Choose your favorite account and validate (or create one on the Ledger Live application).
For everything to work properly, go to the “Settings” menu of the chosen blockchain (eg Binance Smart Chain) and activate the “Blind signing” option. You can find the risks associated with this function in the FAQ of this article.
Finally, click on your MetaMask account logo and then click on “Settings”. Then click on “Advanced settings” and activate the “WebHID” option.
Congratulations, your funds are now safe from any outside threat thanks to Ledger and MetaMask.
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FAQ – Frequently asked questions about the combination of Ledger and MetaMask
What is blind signing?
With the generalization of crypto, users interact with ever more sophisticated smart contracts. Crooks take advantage of this to find new vulnerabilities. Blind signing is one of the risks of MetaMask.
Indeed, when you sign a transaction on MetaMask, you have almost no visibility on the information related to it. And even if you will have access to it, there is no proof that your computer system is not corrupted since it is connected to the Internet. By confirming your transaction, you therefore make a “blind signature”.
You have to be aware of this little-known risk when using an application wallet.
What are the risks with a Ledger wallet?
Since scammers cannot withdraw your cryptos from your Ledger, they will try to exploit another loophole, you.
To protect yourself, keep your recovery phrase in a safe place. Beware of phishing emails from people claiming to be part of a cryptocurrency ecosystem entity or on social media to be official support.
In short, never share your PIN code or your 24 words and beware of offers that are too enticing.
Is it possible to stake cryptocurrencies on Ledger?
The easiest and safest way to stake your cryptocurrencies is to use a physical wallet like Ledger. Indeed, centralized platforms mostly charge fees that reduce the staking reward you will receive in your wallet.
In addition, these platforms do not allow you to choose the validator to which you want to delegate funds.
Physical wallets give you complete freedom and control over your crypto-assets, your rewards, and the choice to delegate your funds to a certain validator. With a Ledger wallet and the Ledger Live application you can stake a multitude of cryptocurrencies and generate gains passively.
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